Because of BU (Bitcoin Unlimited) Bitcoin has been dropping since more BU blocks were mined than Segwit. Then yesterday the exchanges announced a joint plan to incorporate BU. The reality of BU is causing the drop.
The market HATES BU but was fine when Segwit mined blocks were in the ascendency.
I have seen this play out in multiple crypto-currencies that push through a major change that doesn't have the support of the market.
The market HATES BU but was fine when Segwit mined blocks were in the ascendency.
I have seen this play out in multiple crypto-currencies that push through a major change that doesn't have the support of the market.
BU has done nothing new that has not already been proposed 2 years ago.
no deadlines. no agenda's no ban hammering of blocks or nodes.
no intention of splitting the network. they want one single network of majority where many diverse nodes collectively continue running on the network.
its actually blockstream(core) that have been vocal about causing splits and such.. but just baited the stories like they are the victims. not the perpetrators
the drama recently is from these guys
http://dcg.co/portfolio/ - DCG is owned by barry silbert.
and the corps that received VC funding are in debt and barry wants his money back.. soooooon. here is how much he threw at them
https://www.crunchbase.com/person/barry-silbert/investments
The market reacted to BU blocks being mined overtaking Segwit and to yesterday's announcement that BU might happen.
I don't care about the politics of any of it, I only look at the market reaction. The market appeared to be fine with Segwit, perhaps because it came from core and was perceived as a less major change - I don't know. But the market at every step BU has become more of a reality has said BTC is worth much much less.
Edit: I realise Segwit was unlikely to happen because it hurt the miners, but the point Im making is the market was fine with it. I think the miners should hopefully realise soon the damage they are doing and the potential for BU happening should decline.
. I think you're best of hodling atm since both coins are at their bottom I think. We'll probably see both of them rise a bit in the next couple of days. Remember cryptos are dangerous and volatile, don't trade with anything you can't afford to lose 
Also this post should've probably been posted in Economics or Speculation. 
