BTC Price drop? - page 8. | Bitcointalksearch.org

Denker

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Quote from: Asteria478 on October 18, 2017, 03:09:17 AM

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

It's probably the pullback to the breakout level around 5000.
It's all about support and resistance! Once we broke the resistance of 4950-5000 and climbed to new ATH it's always a question of time because the old resistance gets tested to see if it's build a new bottom, support level.
Be glad this is happening now. Remember the last big drop down to 3000?? The crash was so big because we hadn't tested this level! And when markets start to panic sometimes it continues to drop even further. Good that it didn't happen last time, but still it was pretty big drop.
So right now this is normal market behaviour and I wouldn't be worried too much.
We will test the 4950-5200 area imo, oscillators get a reset and then we may continue moving up again.
What I have left out here are the coming forks of course.

Kemarit

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Quote from: jackhdt on October 18, 2017, 04:29:58 AM

I predict prices will drop after several days stalled. However it early. very easy to recognize this is the sell to take the profit of the traders
We are very familiar with this, bitcoin prices will stabilize again

Nice for you to predict the price going down today. But yeah, the prices has been in a lot of swings as of late and its easy to see that a correction is bound to happen in the future. If you are here in the market that long, you will see signs from afar. That's why we are more familiar with it. However, newcomers usually are shock with this sudden price movement and panic ensures.

Quote from: Catmony on October 18, 2017, 04:50:41 AM

No any price rally like the recent one can last forever, small dump after a huge price surge in very short period of time is quite common in bitcoin. Every dump or price correcton like this one is good time to make your entry into bitcoin.

Right. We should thank that it was a good run and passes the $5000 mark without a significant drop. But now since we are getting closer to $6000, its usual that maybe traders are cashing it out to make money. And this is a good entry point as well. Let's just see tomorrow if the trend continue. I'm positive that we are going to see nice gains tomorrow maybe around 2-4% increase is not that bad.

Catmony

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No any price rally like the recent one can last forever, small dump after a huge price surge in very short period of time is quite common in bitcoin. Every dump or price correcton like this one is good time to make your entry into bitcoin.

CodyAlfaridzi

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Quote from: Asteria478 on October 18, 2017, 03:09:17 AM

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

Totally expected. The recent crazy rally (almost up $2000) needs a correction. I think we'll be under $5000 soon for some weeks before going up again. The community is not scared at all to the fork, it is not anything close to the Aug 1 fork in terms of economic split risk. But not entirely sure that the Gold fork will cause a rise due to people want to claim free forked coin either.

Just chill for now, the Bitcoin rocket needs refueling! We're still in a good uptrend. I also believe Bitcoin will hit 5 digits USD next year. Let us hope my prediction comes true.

Jating

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Quote from: Asteria478 on October 18, 2017, 03:09:17 AM

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

I don't think they are scared of the hard fork. Why would someone be scared if you are getting free money on the 25th? Maybe its just a price correction that we have been witnessing today. And its not just on bitcoin market. I think the whole crypto is seeing a Tuesday or Wednesday bloodbath. But no worries, this price correction is inevitable, and you know what's next after this? Another bull run so just hodl on your bitcoin and don't panic mate.

jackhdt

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I predict prices will drop after several days stalled. However it early. very easy to recognize this is the sell to take the profit of the traders
We are very familiar with this, bitcoin prices will stabilize again

bitcoinisbest

hero member

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Quote from: Asrael999 on October 18, 2017, 03:33:16 AM

someone in Europe has bitcoin to sell - for whatever reason

We are not sure exactly what is causing this drop. There was no specific reason just might be some dumping by few people ahead of the fork event as they may not be positive with the result this time hard fork can bring to btc value. But the price has slight started to gain and now at 5350$ from 5238$ which was couple of hours back.

mitchr4

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Quote from: Asteria478 on October 18, 2017, 03:09:17 AM

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

I don't think if Bitcoin is drop because scared of the hard fork. People are not afraid of it even they prefer to hold bitcoin to get Bitcoin gold later.

pooya87

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have you even heard of the word "correction".
that is what's happening here. price went up from $4xxx level to $5500+ and now as the traders sell to take the profit, price comes down. in bitcoin whenever price comes down some panic and think it is the end, and probably some FUD accompany it which doesn't make thins easier either.

that means, price drops as you can see now. but as long as price is still in $5xxx level, it is not something worth talking about.

Asrael999

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someone in Europe has bitcoin to sell - for whatever reason

KAKACH

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I think the previous rally ( of 12th & 13th October) was supported a lot by a kind a FOMO, and was not based on real demand.

Now, it's just a normal correction.

If there was real fear about forks, the price would go a lot lower

amacar2

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Quote from: Asteria478 on October 18, 2017, 03:09:17 AM

Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

Its just some big whales dumping their holding or cashing out their profit from this short term huge rally, current pump on price was only supported by high speculation over comming hard fork so bigger dump than this one is quite guaranteed after the hard fork.

Asteria478

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Is there any reason why the btc price is dropping that much today? Are people scared by the hard fork or why is it dropping?

Topic: BTC Price drop? - page 8. (Read 3770 times)