What caused all the price drops? - page 29.

GrannyC

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Quote from: wklt2002 on December 23, 2017, 06:04:56 PM

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

It is obviously a correction, and I would say that it is not enough for a future healthy grow. I would expect further drops in the new year because even for an upcoming class of asset, many coins and tokens are overvalued at the moment.

Gabb

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Everything that surrounds this market is mere speculation, so it is difficult to find a definitive justification for this fall. I've heard all kinds of arguments, from Christmas shopping to the hack of some exchanges and things like that, but since the bitcoin became the property of great whales, they can play with the price of bitcoin in the way that best suits them to keep the money from us small fish.

Kavallo

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In financial markets there is someting called "correction" , which is cause by the fact that someone decides to cash out what they have earned with the rise of the value. When many people sell, price drops.

Hopeful2017

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Quote from: wklt2002 on December 23, 2017, 06:04:56 PM

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

When Bitcoin goes down, everyone follows, altcoins. Maybe because most bitcoiners sold their bitcoins for cash. Its because of the year end holidays and so on., s

LogitechMouse

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Maybe because Christmas day and New Year is fast approaching. They cashed out some of their bitcoin to have fiat money so that they can bought the things they need for the incoming christmas day. Maybe some news affected also the price of bitcoin and because the bitcoin crashes, some or all of the coins will crash too as some altcoins depends on the price of bitcoin.

iamMhew

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I thinks its becauae of holidays, many investors not just in bitcoin are getting their profits to spend/celebrate chirstmas and new year. Reason to price down of all altcoin and also bitcoin, and in addition of all scared newbie investors are believin on some news that crypto are just a bubble bhla.. Blah... Blah... So they are geting panic and rush selling their coins when they saw the price down just to cut their loses.

nata777

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This situation was created in such a way that newcomers just entered the market, selling their coins in a minus as they are yet worried, and panic takes over them

arief89

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The cause of the price all down is the person holding the coin hears bad news so many are selling coins to avoid losses or panic selling.

Dreamchaser21

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Quote from: VeeTeaSee on December 23, 2017, 06:49:03 PM

there was no price drop .. :/
just a big correction to all the pumps ...

Correction yes, and I think they are just preparing for the bigger pump specially with bitcoin. We may not know the exact reason why they are dump but the good thing is we can buy token at a lower price now which is good for all the hodlers here.

anindo

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This is the end of the year. People ran out of cash. They have to pay a lot for everything in this period. Therefore, people sell crypto currency. It becomes cheaper.

yura888

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Quote from: wklt2002 on December 23, 2017, 06:04:56 PM

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

And what to think here Huh

Everything is clear here. This was a correction that had long been scheduled for further growth

VeeTeaSee

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there was no price drop .. :/
just a big correction to all the pumps ...

Bastime

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Quote from: spasmadness on December 23, 2017, 06:26:50 PM

End of year causes massive money flows, this also was seen on bitcoin

I agree, looking at Bitcoin's history, the same month has been dropping also due to payouts and cash outs for holiday season.
But this is the best time for traders and investors because when the prices are very low, it's the best chance to invest more and there will be massive investments into Cryptocurrencies because a lot of money coming in.

Bastime

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Quote from: Shaibana on December 23, 2017, 06:27:34 PM

Quote from: wklt2002 on December 23, 2017, 06:04:56 PM

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

People cashin , that's the why, everyone has sold their bitcoins and turned not only to alts but cash.

Indeed, they choose cash over cryptocurrency for buying items that can be a gift for Christmas so people dump their coins and get the profit they deserve. Me myself is thinking about dumping all my Altcoins and buy something for myself like iPhoneX.

cryptoblackhat

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Most of the time the altcoins follow the Bitcoin sentiment. So it only needs the one reference currency to decrease in value for this to trickle on to most of the other altcoins.

And as others have mentioned, at the end of the year many people are probably consolidating their positions from the previous year, and also cashing out some BTC for spending on gifts and holidays. Considering that we just had several all-time highs in a row, it's not surprising that all of these conditions combined together should lead to a significant correction in the market value.

Bastime

sr. member

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In my personal opinion, one of the cause why Bitcoin and Altcoins dropped because of the prices that's so high then people choose to dump because they want to give gifts for their loved ones because this holiday season is very special for all the Christians around the world.

Shaibana

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Quote from: wklt2002 on December 23, 2017, 06:04:56 PM

Almost all the altcoins (and bitcoin too) went down alot yesterday. Does anybody have a clue what caused this major drop?

People cashin , that's the why, everyone has sold their bitcoins and turned not only to alts but cash.

spasmadness

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End of year causes massive money flows, this also was seen on bitcoin

coinstatic

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Well it was Bitcoin that caused all the other altcoins to drop after.

But from my conclusion, it was the news and hype that was spreading negativity about Bitcoin being a big bubble that could burst anytime brought fear to many investors made it drop. The Korean exchange hack and the release of Bitcoin Cash on Coinbase were also the reasons for the Bitcoin drop.

It's all looking good now though

Bitcoin and altcoins are recovering again.

Mrs Troll

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The end of the year, whales are fixing their profits and move money to offshores Grin

We can still get 2nd round of correction and new rally will start in new year. Cool

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