any reason for this biggest drop?

[criket]

Price is still relevant in my viewpoint, however crypto market correction because of sell with profit taking. That is the reason this happens, people have realized its now. So Don't bind yourself, such of ups and down rather keep going with the stream.

for people who are confident and brave with this market situation, of course he can benefit. but if he only sees and is afraid to come to the market, he won't get the profits. This market continues to attract investment and the bitcoin trade becomes a very big magnet.

[Cemploon]

The current market situation is a correction because the price of bitcoin has been pumping very high. But we don't need to panic because it's like this time that Bitcoin is back up again. For me the price correction when it became a very precise time for me to return again buy Bitcoin and Altcoin. Some of the coins I bought again at the time of correction and became my mainstay for trading such as Abyss, ACT, TEN and ETH.

[didzi]

Price is still relevant in my viewpoint, however crypto market correction because of sell with profit taking. That is the reason this happens, people have realized its now. So Don't bind yourself, such of ups and down rather keep going with the stream.

well,, in my opinion this is normal,
i think a corrections will make the market healthier

and i hope this corrections will not continues, just like the last year my friend
because a lot of people didn't have enough confidence because of their experience in bear market last year

[Taufik blackspade team]

and i hope this corrections will not continues, just like the last year my friend
because a lot of people didn't have enough confidence because of their experience in bear market last year

that's what I fear from the current market conditions. maybe the bears will come back until the end of the year. but it can be anticipated if some altcoins can update and pump in the near future.

[miningguru]

and i hope this corrections will not continues, just like the last year my friend
because a lot of people didn't have enough confidence because of their experience in a bear market last year

that's what I fear from the current market conditions. maybe the bears will come back until the end of the year. but it can be anticipated if some altcoins can update and pump in the near future.

It seems like it will be feared for people who have just played in the crypto world and this is different from people who have known about development every year. They have their own ways to make everyone's panic into a smile.

This is bracuse some time we are expecting too many high prices and this makes many people panic about the current situation. The market situation will change to normal when the altcoins start recovering their prices. It may take time but surely the prices of those coins will increase with patience.

[ATSgrowth]

It is classic market behavior, we called it correction. And correction happens everytime when there is a big move up, or down. Price needs to confirm the trend and after that everything goes back to the previous higher/lower level. 

[consideritdone]

we went up so much, i wont be shocked to see it back at 6000 it is possible
https://www.coingecko.com/en

[cunicula]

The whole market is currently drop now, the drop is not specific to BTC, just whole world is lagging now.

[xenomorphe1]

we went up so much, i wont be shocked to see it back at 6000 it is possible
https://www.coingecko.com/en

what!  $6000??? I don't see that coming,  I don't think it's possible for bitcoin to to back to such price,  at least between the range of $7k - $8k and it's only a strong FUD or big manipulation that can bring it to this position

Anything is possible. It went to $20000 and then it drops to near $3000. So $6000 is possible too. At $6000 last year, we thought it was the lowest price as bitcoin was very stable. But no, it did drop further as the volume of trading did drop a lot. I don't wish this, but only the whales and bots can decide what should be the price of bitcoin.

[michellee]

Price is still relevant in my viewpoint, however crypto market correction because of sell with profit taking. That is the reason this happens, people have realized its now. So Don't bind yourself, such of ups and down rather keep going with the stream.

well,, in my opinion this is normal,
i think a corrections will make the market healthier

Yes, that is normal, but the market drop is because people are worry and panic to see the price is down in the day, so they think that the price will get down too deep. So they are selling their bitcoin instantly and not think that the down of the price is only for temporary and the price will be increased again. If they still do that, it only makes the price getting down deeper than the price before. Besides that, it will make the price hard to increase to the last higher price.

[Mr.Zero]

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.

[disconnectme]

It is funny when you see people need explanation for everything that happens to price, and again most people think the price should keep going up forward without correction, the direction of a price could be upward but it can never be linear, so get use to this.

[alan2here]

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.

[Devotionless]

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

[Muzika]

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.

[freedomgo]

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.

They do easily react on what is happening, as if it has not happen in the past, and as if this market is not volatile. SMH...
Market is speculative, that's the main reason, people got hype and people got FUD.
Maybe let's look at the long term potential, volatility is good for day traders only.

[Greatchu]

That's correction on going and it won't be the last anytime soon,you can see that altcoins aren't surging yet even after few corrections so I think bitcoin corrections will keep happening till altcoins are getting advantage from bitcoin

[lixer]

Price is still relevant in my viewpoint, however crypto market correction because of sell with profit taking. That is the reason this happens, people have realized its now. So Don't bind yourself, such of ups and down rather keep going with the stream.

well,, in my opinion this is normal,
i think a corrections will make the market healthier

and i hope this corrections will not continues, just like the last year my friend
because a lot of people didn't have enough confidence because of their experience in bear market last year

Nothing to fear, it is certainly not going to continue, most corrections are usually temporary, and this type of correction is one that will lead to a more increase in the price of bitcoin, I guess the experience you were talking about was the one we all had after the bull run, and that one was as a result of the all-time high we had reached which made whales and many other investors dump their coin.

We are in another bitcoin uptrend and we are yet to see another bull run fully that will lead us to another new all-time high for this dip to continue to bear market. I am certain that within the next few weeks, you will see that we will break the barrier of $15k, and the moment we break that barrier, it will be certain that we will be heading towards another new all-time high.

[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.

[stadus]

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.