Quote from: Wexnident on October 24, 2017, 09:04:03 PM

Quote from: Asteria478 on October 18, 2017, 08:09:17 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?

Probably that is the main reason. As far as I remember, in the recent segwit2x last August, same thing happened, its market valu dumped before the fork and increase right after it. And maybe that's the reason why the value of Bitcoin is stucked at 6000$ and will also probably increase after the fork and make it possible to reach 7000$ before this year end.

I think one of the reason why BTC price drop is due to the uneven movement of its mining cost. Once you have mine close down, they tend to unload their stored bitcoin which cause chain reaction. I think the future of bitcoin is very bright. However that does not mean that the price of bitcoin will go up or down. One might argue that the market is going through its long term growth correction, but there is a chance it could be in for a deeper fall.