I see a sharp drop on bitcoin and not only btc but also other alt coins including eth, xrp, ltc, xmr
What cause bitcoin drop now?
or should I say the sudden coin drop of all.
Can anyone share some news?
Should I buy now?
It's pretty low already or wait for a while.
thanks guys.
What I think is causing all this huge dump in bitcoin is the pre segwit anticipation. Since a hard fork is happening, there are heaps of conspiracies of how this is when bitcoin will die. Then people are add to the drop by selling and rebuying when it drops even more
A hard fork is not happening. It will happen later when SegWitx2 forks to 2MB blocks.
For now, we have SegWitx2 and UASF happening. SegWitx2 looks like it'll happen very soon, in which case it's all good. UASF will have a chain split if it still has <50% hash rate on August 1st, but it's running on negligible hash rate and probably won't be relevant if SegWit gets activated before then. Both SegWitx2 and UASF are soft forks.
Posts like that explain exactly why the price is dropping. There's too many fancy terms for some newbies, weak hands and speculators to understand, so they do the easiest thing they do into lovely, relatively safe fiat.
As for alts, they just got pumped hard, so when BTC falls they fall with it.