What caused the crash in July to make bitcoin reach $1880? Anything specific?

TravelMug

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Quote from: Kepler-148b on August 04, 2017, 11:39:47 PM

What caused the crash in July to make bitcoin reach $1880? Anything specific?

FUD around the hard fork. If you are not around that time, the waves of FUD everyday reach a new level as well. LOL. And investors try to moved out their precious bitcoin by hedging against the dollar or simply cashing it out. However, a lot of new faces enter the market during that dip causing the price to recover to an extent and when investors learn that they can get free altcoins they started again to deposit their funds to those exchanges so that they can claim BCC. And the rest is history.

jjacob

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Quote from: mrcash02 on August 16, 2017, 01:21:17 PM

I think it wasn't only because the fork. Bitcoin price was rising too fast, then the correction lead it down fast as well.

The same can happen again soon, not to $1880, but a big crash anyway.

The price rise which happened in late July is nothing compared to what is happening now. It was not a simple correction - the fear about the hard fork also contributed to it. And immediately after August 1 the price has exploded.

bamboylee

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I think it is mostly FUD from hard fork. Users are getting out of exchanges afraid of losing their bitcoin. It was too far ago, Why do you still ask about it OP? Do you want to repeat the crash?

Catmony

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Quote from: Kepler-148b on August 04, 2017, 11:39:47 PM

What caused the crash in July to make bitcoin reach $1880? Anything specific?

Started with fud regarding hardfork and possible split of bitcoin network.
Accelerated by newbie traders who got panic with that fud and they started selling their bitcoin for low prices without knowing what hardfork actually means.

We might see similar crash during november this year.

mrcash02

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I think it wasn't only because the fork. Bitcoin price was rising too fast, then the correction lead it down fast as well.

The same can happen again soon, not to $1880, but a big crash anyway.

djuvantebit

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Bitcoin cash split FUD

pitham1

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Quote from: FiendCoin on August 05, 2017, 04:49:40 AM

Quote from: Kepler-148b on August 04, 2017, 11:39:47 PM

What caused the crash in July to make bitcoin reach $1880? Anything specific?

Yeah, split fud.

People should stop worrying about fringe lunatics from r/btc and focus on Bitcoin's (BTC) bright future.

It was an opportunity to shake out weak hands and get some cheap coins. Cheesy

The chaos around the hardfork and segwit activation resulted in some people panicing.

FiendCoin

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Quote from: Kepler-148b on August 04, 2017, 11:39:47 PM

What caused the crash in July to make bitcoin reach $1880? Anything specific?

Yeah, split fud.

People should stop worrying about fringe lunatics from r/btc and focus on Bitcoin's (BTC) bright future.

Kepler-148b

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What caused the crash in July to make bitcoin reach $1880? Anything specific?

Topic: What caused the crash in July to make bitcoin reach $1880? Anything specific? (Read 595 times)