any reason for this biggest drop?

[playboy654]

This is drop when you see it in the short time frame but can you just see monthly or more time frames then you can understand this is just correction due to huge increase on the price over the past few months.

That's not the picture currently, price now are way lower as bitcoin has finally dump again below $10,000, but this a correction of course, soon there will be a trend to rise again.

RIght,if OP see the current 7 days graph then he can't say there is huge drop because still price of bitcoin floats around $10K

[1715151276]

1715151276

[1715151276]

1715151276

[1715151276]

1715151276

[1715151276]

1715151276

[1715151276]

1715151276

[1715151276]

1715151276

[Bitcoin Seller]

This is a common thing happening in the market, when the market price goes up in a quick manner those holder with a small amount will sell because that is their chance to do it therefore the price will do corrections and will goes up slowly.

Some people started to explain the fall of the market by the temporary closure of Coinbase, located in San Francisco. Being one of the most popular exchanges, it affects the crypto world. However, no one knows the true reason for it. Bitcoin has lost over 3 thousand in the shortest period, but this fact cannot be the reason to say that the bears have returned.

After this shaking, the market will be recovered.

[barbara44]

I think this is normal because Bitcoin is too fast to touch the current bullrun, real bullrun will occur in 2021.
Bitcoin fell because it was not the time to go up and the previous rise was only a market correction.
we must understand if cryptocurrency has a phase phase between 4 years.

I agree with you . This market needs time to start the new uptrend and should choose to be patient during this time because I believe that 2021 will be an important time for the market to rise again. Now the value of Bitcoin has a big improvement, but in general we cannot escape the bear market and there will certainly be more adjustments in the near future.

2021? Did you just pick this year out of the blue moon, what are the signs that you see that made you not suddenly sift from bull run of 2020 to be 2021 because these has been the most popular year that I have seen people predict bitcoin to go on bull run even before bitcoin went in this current bull run, which is why many was so surprised at the way bitcoin made that sudden change and started surging in value from the first week of April, so right now, bitcoin movement cannot be completely predicted.

We never expected bitcoin to even have gotten this far, and this current value was actually predicted by me to be end of the year, so I believe that there is still more time for altcoins and bitcoin to grow by next year after the halving of bitcoin that is due for 2020.

[elisabetheva]

This stuff is a lot of psychology.. need to get rid off so e more weak hands beford the rocket can take off.

I think what you are saying is the reality that is happening now, but this is not unusual because the decline that occurs is still above the average which is still in the best movement. we can be sure this will pass by itself.

[makishart]

This is a common thing happening in the market, when the market price goes up in a quick manner those holder with a small amount will sell because that is their chance to do it therefore the price will do corrections and will goes up slowly.

Some people started to explain the fall of the market by the temporary closure of Coinbase, located in San Francisco. Being one of the most popular exchanges, it affects the crypto world. However, no one knows the true reason for it. Bitcoin has lost over 3 thousand in the shortest period, but this fact cannot be the reason to say that the bears have returned.

After this shaking, the market will be recovered.

But on that time the situation got even worst with the tweet that already made by trump about bitcoin. When there was a bad news and more bad news will come to give more pressure to the market but this time the price of bitcoin is very stable because there was no a good news has come.

[Freny250]

We need to learn that this is a common trend in crypto,  after a pump we should always be aware that there will be correction. Sometimes it can be a minor or major correction,  either that happen should not cause panic

[juperos]

There are no satisfactory reasons here. This is the market cycle and you should be familiar with it. The market is always growing fast and falling rapidly because of the impact of whales. It is also an opportunity for traders.

[Mame89]

This is the thing that should be understood by all users or cryptocurrency traders that the decline that occurred is not something that needs to be feared or something that is big to increase in looking at a trend of this sharp decline. because this is the nature of the cryptocurrency itself which is indeed fluctuating where not everyone can read the direction of the movement.

[Distinctin]

We need to learn that this is a common trend in crypto,  after a pump we should always be aware that there will be correction. Sometimes it can be a minor or major correction,  either that happen should not cause panic

Everyone should, but even if some people are aware of the trend, they still sometimes got disturb especially when they panic.
As a trader, it's necessary that we know the reason behind of very significant price movement so we can do the right decision making, market is volatile and we know that but investing blindly would minimize our chances of success in the long run.