What is causing the current drop in crypto prices?

[Mia Chloe]

The recent dump in crypto price has remained for quite some time now because of the fact that people are scared to HODL and buy most crypto currencies. So it's more likely that currently in the market the selling pressure is higher than the buying pressure. Some persons prefer to even buy gold and silver during this period instead of investing in most cryptocurrencies.
As for the dump in altcoins, I think it is as a result of bitcoin price drop. Even though there is no network relationship between them bitcoin price still has an effect on other altcoins.

[milewilda]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

There would be only those known possibilities or reasons.

- Whale selling
- Negative news
- Random sell off  or simply no reason at all

You would really be able to find yourself be accepting it out these probabilities on my market declines but in overall if you do
really just simply realize on how market works and on how it do behaves then this volatility would really be just that normal
or something that would really be inevitable. This is why it would be better that you shouldnt really be that making yourself
having those kind of hope because it will really be just that making you desperate on whatever the things you do have in mind.

[PX-Z]

Just supply and demand, as there's no major negative news lately, i don't know the specifics but people are wary that bitcoin price always decreases on 3rd quarter of the year, this effect will still be feel in october but will recover in the last quarter. Well, this is based on history, we just don't what will happen this time.

[doc]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

There would be only those known possibilities or reasons.

- Whale selling
- Negative news
- Random sell off  or simply no reason at all

You would really be able to find yourself be accepting it out these probabilities on my market declines but in overall if you do
really just simply realize on how market works and on how it do behaves then this volatility would really be just that normal
or something that would really be inevitable. This is why it would be better that you shouldnt really be that making yourself
having those kind of hope because it will really be just that making you desperate on whatever the things you do have in mind.

Massive sales have been done by Mt Gox which caused the bitcoin price to dump, but is it over? It seems not, because maybe many are still selling it gradually at this time. The negative news that I heard about the election in the US, between Trump who supports crypto and Kamala Harris who is anti-crypto. Maybe this is what makes the market seem to struggle because they are waiting for the election.

[Captain Corporate]

Haven't we learned our lesson from what happened just this month, let alone from any of the other million other times this has happened. Price sometimes goes down and sometimes it goes up, there isn't really anything that we need to consider as good or bad, we just need to make sure that it is what it is. We can't make it any other way, and that won't really change it. We dropped recently, and all the way to under 50k if I am not wrong at the very bottom, but we peaked at 60k again, so this should not be a shock that we dropped once more, and we will definitely recover one more time as well.

[bayu7adi]

Massive sales have been done by Mt Gox which caused the bitcoin price to dump, but is it over? It seems not, because maybe many are still selling it gradually at this time. The negative news that I heard about the election in the US, between Trump who supports crypto and Kamala Harris who is anti-crypto. Maybe this is what makes the market seem to struggle because they are waiting for the election.

Some analysts blame the US government for allegedly selling large amounts of Bitcoin, but cointelegraph covers the news that the US government's BTC sales actually have no major impact on the market (written at https://cointelegraph.com/news/us-gov-bitcoin-sale-doesnt-affect-anything-analyst) ...

In addition to the news about the US government, there is Bitcoin's rejection of the low CPI (Consumer Price Index) numbers... in this second news you can go to the news source here: https://cointelegraph.com/news/btc-price-drops-bitcoin-rejects-low-cpi-print

[Jating]

Massive sales have been done by Mt Gox which caused the bitcoin price to dump, but is it over? It seems not, because maybe many are still selling it gradually at this time. The negative news that I heard about the election in the US, between Trump who supports crypto and Kamala Harris who is anti-crypto. Maybe this is what makes the market seem to struggle because they are waiting for the election.

Some analysts blame the US government for allegedly selling large amounts of Bitcoin, but cointelegraph covers the news that the US government's BTC sales actually have no major impact on the market (written at https://cointelegraph.com/news/us-gov-bitcoin-sale-doesnt-affect-anything-analyst) ...

In addition to the news about the US government, there is Bitcoin's rejection of the low CPI (Consumer Price Index) numbers... in this second news you can go to the news source here: https://cointelegraph.com/news/btc-price-drops-bitcoin-rejects-low-cpi-print

I will go with the second news as this has been hugging the limelight for some time and some of us have been anticipating this news about the US CPI and we can say that not only crypto market, but the rest of the financial world has also been impacted by this news.

And then couple of the geo-political news like the war in the Midde East and then the US presidential elections. Like what we have seen in the last 48 hours, prices has been deeply affected as it goes down to $57k again.

[bitterguy28]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

to be fair bitcoin is what sets the mood for the rest of the altcoins since many are not very confident with the state of the market, this bleeds into altcoins as well we are not sure exactly what caused the price drops

it could be multiple countries moving and selling the coins they hold or it could be because of the mt. gox news whatever it is we do not know specifically the cause i am not that worried though if i am being honest i am sure it will all bounce back after a few weeks or months

[terrific]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

The first reaction is because of Bitcoin goes down. And when it's down, the altcoins are also reactive just as what you see and that's how it goes for most in the market.
The cause of these prices are cumulative efforts from the retailers but the first sale is being done by the whales. We keep on saying about the whales because they do influence the market.
With the little efforts that they have to do but with the involvement of huge amount of money, that's how their force are being reckoned. For which, we get the taste of their medicine that dumps the market but worry not, Bitcoin and most of the market are resilient.

[LogitechMouse]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

I know that the price of Bitcoin is falling currently, but are all the investors are panicking? I consider myself as an investor, but I'm not panicking at all.

I'm pretty sure that those who are investing into crypto for a very long time knows that this current decline in the price of Bitcoin is completely normal, and there's nothing to panic about. Bitcoin currently is moving sideways, and for me, this is a pretty good sign, but at the same time, a bad sign because bulls and bears are fighting. What's the cause of the price drop? Nothing. It's just that, there are many sellers this time than buyers. No news, no articles, no videos whatsoever. It's a pretty normal supply and demand thing.

If you're new to investing OP, I hope that you will not make unnecessary decisions just because of a small price drop. Don't panic and instead, take the opportunity to buy even more.

[Manna]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

The reason for this is that no one can say exactly because it is very difficult.  It is normal for the market to be down at one time and up at other times it may be different in some cases.  Many believe that the crane war in Russia is making it a little harder to recover Bitcoin the way it came down the country.  So I would say that I think it will take some time for Bitcoin to normalize.  It will take some time to normalize because of the war between Russia, Ukraine, and Israel.

[Jating]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

I know that the price of Bitcoin is falling currently, but are all the investors are panicking? I consider myself as an investor, but I'm not panicking at all.

Good for you, but there are investors that are nervous when they see the price going on a downward spiral. And I will bet that at some point, you also feel that. However, since you have been in the market for so long now, this humps and dumps are not going to affect us. And we see this as a opportunity.

I'm pretty sure that those who are investing into crypto for a very long time knows that this current decline in the price of Bitcoin is completely normal, and there's nothing to panic about. Bitcoin currently is moving sideways, and for me, this is a pretty good sign, but at the same time, a bad sign because bulls and bears are fighting. What's the cause of the price drop? Nothing. It's just that, there are many sellers this time than buyers. No news, no articles, no videos whatsoever. It's a pretty normal supply and demand thing.

I would say though that there are reasons for a decline, it might not be clear, but investors are not just selling for no reasons. The last time I check, it could be about the CPI news,

https://www.coindesk.com/markets/2024/08/15/bitcoin-drops-to-58k-after-us-cpi-print-btc-etfs-record-81m-outflow/

Bitcoin fell over 4% to around $58,000, leading to a broader market drop where other major cryptocurrencies like Ether, Solana, Cardano, BNB Chain, and XRP fared slightly better, with losses ranging from 2.5% to 3.8%.

The decline came after by the release of U.S. CPI data, despite positive stock market reactions. U.S.-listed spot Bitcoin ETFs saw net outflows, with Grayscale's GBTC being the most affected, while Ether ETFs saw continued inflows, with BlackRock's ETHA notably gaining.

[Jamal Aezaz]

Market changes are common and sometimes it is not easy to predict the reason therefore it is not necessary to find out the basic reason for changes but we have to remember that these changes are a normal part due to which investors and traders are facing loss and gaining profit.

Before bull season the movement of crypto coins is almost downward so maybe this is a reason for declining but think every situation is a normal thing so I think without thinking so deep about the cause we have to take advantage of time instead of missing the chance.

[KingsDen]

Market changes are common and sometimes it is not easy to predict the reason therefore it is not necessary to find out the basic reason for changes but we have to remember that these changes are a normal part due to which investors and traders are facing loss and gaining profit.

Well, in this industry, we attribute every change in direction to fundamentals. So, there must be cause for every market changes lol. Even when there's none, we will attribute one to it.

Before bull season the movement of crypto coins is almost downward so maybe this is a reason for declining but think every situation is a normal thing so I think without thinking so deep about the cause we have to take advantage of time instead of missing the chance.

Yes, we know the theory but when the practical starts happening, we will be scared and panic that bitcoin is going to $1

[pakhitheboss]

all investors are panicking about the price of altcoins and now we see the price of altcoins is falling even bitcoin is also experiencing a continuous decline. What is the cause of the crypto price dropping like this?

There are a few reasons why altcoin prices are dropping:
[1] All altcoins follow Bitcoin.
[2] Altcons always bleed whenever Bitcoin prices go down
[3] We are in a bearish market.

Now, the question is what is happening with Bitcoin. Here are the reason I think can be responsible for the price drop:
[1] Bitcoin is volatile.
[2] Negative news might be the reason why Bitcoin prices are going down.
[3] The global market and the upcoming US recession can be responsible for the price going down
[4] Whales might be manipulating the price