Today's price drop

[mr3dds]

Hello,

I've been shocked by the drop of ETH price today. So,I checked CMC and found that all coins dropped. I don't know what happened or why.

So, what happened today? Is this related to some news? where can I follow this kind of stuff?

Thnx

[1714717882]

1714717882

[Oceat]

I think everyone was shocked too with what happens to the market ever since the start of bakkt there's a dump happening already. Some people expect a growth of the price yet it is unexpected to see what just happened. Bitcoin price dump too since there's a drop of a recent hashrate. You can find more here or in the internet if you search them. And since most of the coins are following the trend of Bitcoin it's expected to see a drop of the price in most altcoins.

[mr3dds]

I think everyone was shocked too with what happens to the market ever since the start of bakkt there's a dump happening already. Some people expect a growth of the price yet it is unexpected to see what just happened. Bitcoin price dump too since there's a drop of a recent hashrate. You can find more here or in the internet if you search them. And since most of the coins are following the trend of Bitcoin it's expected to see a drop of the price in most altcoins.

I hope it rises again soon. I searched a little here and found a lot of talks about this RAKKT. But, still don't know what exactly is this RAKKT.

[boyptc]

Hello,

I've been shocked by the drop of ETH price today. So,I checked CMC and found that all coins dropped. I don't know what happened or why.

Yeah, basically it's not just ethereum but the market itself.

So, what happened today? Is this related to some news? where can I follow this kind of stuff?

Thnx

I've seen a news about the drop maybe this one? --> https://www.coindesk.com/bitcoins-price-slides-1000-in-30-minutes-after-margin-calls-at-bitmex

And this news tells because it's about Bakkt's --> https://www.forbes.com/sites/billybambrough/2019/09/24/bitcoin-ethereum-ripples-xrp-and-litecoin-in-shock-meltdown

[btc-facebook]

there is always the worst possibility, I have anticipated it for the last 2 days when the market goes down very deep,
the news is only a sweetener, this is only a momentary game, it will not be up soon, because in TF W bitcoin still has strong support as long as it does not penetrate EMA21. I always use EMA rather than MA.

[AjithBtc]

This is the reason to state cryptocurrency investment is high risk involved compared to other forms of investments. The price drop is massive. From the value of $1300 it has fallen to $8600. One who bought at $10000+ has to hold until there is continued growth to yield profit. Further we don't know how long this drop is going to happen or when the market gonna change bullish.

[meanwords]

They say it's a correlation between the rash rate and the price of Bitcoin today. There's a sudden drop in hashrates resulting into people panicking to sell their Bitcoins. Some say that this is phenomenon where miners turn off their rigs because there's no blocks mine in the span of 2 hours. It will be back to normal soon though and I think those who panic sell will regret selling Bitcoin at a low price.

[L19]

In first October days stabilization is expected, at least so say some crypto gurus 

[CryptoBry]

I think everyone was shocked too with what happens to the market ever since the start of bakkt there's a dump happening already. Some people expect a growth of the price yet it is unexpected to see what just happened. Bitcoin price dump too since there's a drop of a recent hashrate. You can find more here or in the internet if you search them. And since most of the coins are following the trend of Bitcoin it's expected to see a drop of the price in most altcoins.

Before the launch of Bakkt, I already read some predictions that actually, at least on the short-term, this is not going to help the price of Bitcoin and that it will pulled it down which is exactly what is happening right now. They said the same happened with the physical gold years ago. I am not sure though if there can be a correlation here. It is just sad that  big chunk of the gains hard fought for the last 3 months are now down the river...let's just hope that this can be another temporary thing for Bitcoin.

[mr3dds]

most of crypto-followers are believing it is a good time to buy. I hope the market goes up again or big losses might occur. The market is not that predictable.

But, it looks like the BAKKT or hash rate dropping may have effect on the price of BTC which affected all other coins.

[Periodik]

most of crypto-followers are believing it is a good time to buy. I hope the market goes up again or big losses might occur. The market is not that predictable.

But, it looks like the BAKKT or hash rate dropping may have effect on the price of BTC which affected all other coins.

Most probably. The accumulation of BTC in line with the prospective launching of Bakkt was done months ago. Perhaps during the time when the price of BTC was still around $3,000. Hence the hard dumping of their BTC right now. They must have made good profit already. The sudden drop in hash rate was rather unforeseen. That could have also surprised some BTC holders and suddenly decided to make a dump as well.

However, all these are pure speculations. Even the news about the sudden 4-digit fall of BTC in a matter of a few hours was also founded on rough speculations. 

[Oasisman]

I think everyone was shocked too with what happens to the market ever since the start of bakkt there's a dump happening already. Some people expect a growth of the price yet it is unexpected to see what just happened. Bitcoin price dump too since there's a drop of a recent hashrate. You can find more here or in the internet if you search them. And since most of the coins are following the trend of Bitcoin it's expected to see a drop of the price in most altcoins.

Before the launch of Bakkt, I already read some predictions that actually, at least on the short-term, this is not going to help the price of Bitcoin and that it will pulled it down which is exactly what is happening right now. They said the same happened with the physical gold years ago. I am not sure though if there can be a correlation here. It is just sad that  big chunk of the gains hard fought for the last 3 months are now down the river...let's just hope that this can be another temporary thing for Bitcoin.

These price movements are just normal thing in crypto space. Since it has no apparent reason for the recent price drop, Im thinking this is just a correction, where a massive sell off takes place and traders was selling as the price momentum went downward direction.
On the other hand, I didnt see any negative news regarding Bakkt, majority of it was positive. Lets just see if Bakkt really can make any difference in the long run. If the price continue to go in a downward direction, then isnt it a good time to accumulate again right?

[IOE]

I believe it will increase

[Artemis3]

They say it's a correlation between the rash rate and the price of Bitcoin today. There's a sudden drop in hashrates resulting into people panicking to sell their Bitcoins. Some say that this is phenomenon where miners turn off their rigs because there's no blocks mine in the span of 2 hours. It will be back to normal soon though and I think those who panic sell will regret selling Bitcoin at a low price.

Hashrate lowers probably as it becomes unprofitable in certain territories, so those miners simply stop mining. Since the diff is adjusted every 2016 blocks, it may take a while to adjust when sudden changes in hashrate occurs.

Of course panic selling leads to losses, people doing that simply do not have the discipline required to enter the game in the first place.

If anything, cheaper price is a chance for many to buy, hurry while it lasts...

[masulum]

<snip>
..hurry while it lasts...

This posts just kinds of FOMO. For a newbie, don't be fooled with this post. Okay, I know more cheaper, more profits when the price is up. But, you still need to make a good decision to buy. Today Bitcoin already fall 15%, it doesn't mean it will never go deeper. After hitting 8.600, it can be drops 8.000 or even until 7.000. Who knows? No one knows about the future of this market conditions.

So for all newbie traders, better you check by yourself, learn to analyze on the trading market than you are fooled by "Hurry" words.

[erickkyut]

Hello,

I've been shocked by the drop of ETH price today. So,I checked CMC and found that all coins dropped. I don't know what happened or why.

So, what happened today? Is this related to some news? where can I follow this kind of stuff?

Thnx

The coins are all on sale. Grab this opportunity now. This might be the last coin sale for this year. I think something huge is coming and it is a very positive news. Let's just wait a little bit and in the meantime, add more coins in your portfolios. Just be positive and trust crypto.

[erikalui]

I got an alert that the price dropped by $1k in a day but now as I can see that atleast ETH recovered by $10 while BTC has fallen even further. Because of Bakkt which I was was unaware of till yesterday, the price dropped by 12% straight. It should have instead brought more investors to cryptos but it did the opposite. Hashrate dropped by 30% and it may just be a coincidence now. Altcoin prices have increased as BTC value fell.

[Ronaldcoin2017]

Hello,

I've been shocked by the drop of ETH price today. So,I checked CMC and found that all coins dropped. I don't know what happened or why.

So, what happened today? Is this related to some news? where can I follow this kind of stuff?

Thnx

The coins are all on sale. Grab this opportunity now. This might be the last coin sale for this year. I think something huge is coming and it is a very positive news. Let's just wait a little bit and in the meantime, add more coins in your portfolios. Just be positive and trust crypto.

Well i think this time is really the best time to buy. I believe that the dropping of the price of some coins today is a great chance for people who choose to invest in crypto.

[metallica101]

Hello,

I've been shocked by the drop of ETH price today. So,I checked CMC and found that all coins dropped. I don't know what happened or why.

So, what happened today? Is this related to some news? where can I follow this kind of stuff?

Thnx

Nobody knows for now, or at least - I haven't heard anything that would explain the price crash as of yet. But, it is definitely an opportunity to invest in BTC, ETH, and many others. Historically, the crypto market would often crash before a bull run. It also happened in 2017. It is likely that a huge rally might be following in the next few days or weeks.

[btc_angela]

Hello,

I've been shocked by the drop of ETH price today. So,I checked CMC and found that all coins dropped. I don't know what happened or why.

So, what happened today? Is this related to some news? where can I follow this kind of stuff?

Thnx

To be fair everyone went on a downward spiral unfortunately, and even top coins is -10%. The explanation is that is has something to do with the hash flash crash, but others have pointed out that there could be manipulation or simply FUD. We have a dedicated board that you can follow here, Press. At least in this board you can read comments of most "experts" in this community and the explanation.