Woke up this morning to the craziest dip in a while. Was high time a correction like this happened. Aug 1 might be a blessing in disguise, getting all of this speculation money out of BTC and bringing it to a value that is in line with the technology. I'm predicting we drop below $1900 in the next few hours. Who knows how low it will go before Aug 1!!
Well at the moment, bitcoin is facing a significant market correction and its something that occurs in the market when there is an upward movement in the price. The downward movement of the price is expected and all I could say is, its just reaching a sustainable price level after a period of too-rapid growth. At the same time the ICO hype regarding ethereum along with the tension on the activation of segwitx2 are some major reasons why the crash is occurring.