Quote from: 4p0l4k4y on October 25, 2017, 06:21:20 AM

Quote from: tee-rex on October 25, 2017, 06:18:08 AM

Quote from: 4p0l4k4y on October 25, 2017, 06:09:41 AM

I just checked poloniex today and btcprice went don't to $5506.28 so that would be -$500 dive. Is this because of the upcoming fork? Can somebody enlighten me what could be causing this?

If you ask me, it looks like people are booking profits. Anyway, such volatility is normal, and can be welcomes since it is a healthy one. Bitcoin went down less than 10%, and unless it goes down lower, and I mean substantially lower like below 4000$, there is nothing to worry about. This is what consolidation phase means. We will likely hang around that figure for some time accumulating strength and moment before we surge past recent highs. Which were all time highs, by the way. So you should have expected sort of small correction coming sooner or later. There will always be such, and you should get used to them if you are a novice trader.

I agree it you I am still a novice trading so I immediately panic if there is a huge movement on btc.

If you are a novice cryptotrader, which seems to be the case, and you don't have trading experience at all like many of us hadn't had when we first got involved in bitcoin, you should certainly keep track of how much of your capital you invested in crypto. Just think how you would feel if the price tanks a few times like it happened before. Right now the price went down measly 500$, but it could go down a way lower. There's a simple truth which all novice traders should follow, it says don't invest what you can't leave to rest. And the rest will come with the time, effort and some blood.