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?
Of course BTC has boom and busts periods. It's part of the financial industry and BTC maybe worth nothing someday or worth tens of thousands. Don't care about price in the short term, only know BTC is the wealth storage of the future.
It is not a part financial industry. Bitcoin has the price fluctuation tendency so we will not be expect the bitcoin price always moving forward. There are certain time in the bitcoin fluctuations actually. If you cross over those times you no need to worry about the bitcoin price. You can easily able to manage in the bitcoin price dump as well. Try to be long term holder to stop loosing your funds.