You are the best @jrcornel

I think it's also because most of the governments are against decentralised currency, its been controlled by them as well.

Definitely one of the causes is that .... The other is trusting too much the crypto markets ... I was feeling that the bitcoin will fall and never reach 20k ... Beeing to valuable it will be hunted for sure.... Lucky me I got out my little amount in time . Btw , thanks for the information, brother . Cheers !

It is for the time being it will really raise again let's hope for the best

time to get some more people its christmas sale but choose wisely

Btc has crashed down and bcc is growing by 40%...
But btc has crashed for a short time, recovery is soon...

Hey @jrcornel

I think Bitcoin holds lot of money and can't be manipulated. Other coins can easily manipulated because the market capitalization is not big as Bitcoin. 

I see one possibility, these people have invested lot of money in Bitcoin and when people started to invest in Bitcoin they started to invest in other altcoins which help them create a psychology of FOMO among people and when people started to investing in Bitcoin and other altcoins they just dump all cryptocurrencies. 

It's just my assumption and I still believe Bitcoin can grow more. Do you still believe in crypto currencies?

Due to some negative development

Great post @jrcornel. I also read somewhere on Bitcointalk that the interview with Roger Ver might have had some impact on the current drop in Bitcoin. Not sure if this is the reason but these guys have the influence. 

I hope you don't mind me sharing your post in my Steemit Facebook Group. People need to know the reason why this happen https://www.facebook.com/groups/steemitkings/permalink/1835492263408571

HODL

Exactly! It is Wall Street and futures contracts. Just my 2 cent opinion.

Thanks for the great analysis. In IMO this is closer to the truth and explains a lot.

There had been minor corrections along the way, in both September and November, but nothing really significant since August.

This is just great, decided to get into it while it was cheap and while waiting for my account to get verified the price started climbing again.. Yay South Africa.

My theory is that a lot of people pulled out for the holidays. you'll remember that many currencies went down about this time last year. I can't confidently say that these people aren't doing what you suggest, but there may be other factors.

@jrcornel definitely multiple problems all adding to the crash but here is a quick recap; youbit hacked, etherdelta hacked, coinbase insider trading, bitcoin futures, net neutrality, new tax plan, charlie lee selling all his ltc, and i'm sure there is more!

Hello, great work, i liked your post and reward it with upvote. 

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Bitcoin is just like a pinball machine.  The ball bounces around, goes up, sideways, set off lights and gives you bonus points.  In the end however the ball is gone and the game is over!

I think that will there were some events around the market downfall, this was all orchestrated by speculators. They drove the price up at a level they would have big gains than they started to sell. Of course the sold also with dropping prices but up until one threshold... But the funny thing that they just initiated the movement, the market kept the trend, the investors panicked, they started to sell, the proce dropped higher and now the speculators started buying again but keeping the price as low as they can.
Thus, while they win big, they fill up back their cryptos balances and can repeat this at another time.
<img src="http://static6.uk.businessinsider.com/image/5a05530bc1bde01c008b4cba-1200/bi-graphicsico-pump-and-dump2x1.png"/>

This is very clear that whales are playing with the market,, but I believe BTC will not be less than $10k.
If ever it touches $10k It will rise more and touch at least $25k at the beginning of the year,,
some Christmas magic will be there besides the new year will bring something new for sure

This drop was due to women not beliving in Crypto so men withdrew to prove and deliver some gifts :D

Totally agree, there are few mega-whales that doing with the market whatever they want...
This is why I switch to HODL, you can't predict anything... It is less about technology, more about their games.

The price down was long coming and we expected this, but never thought this much drop in a short period. But this will be temporally the best thing is to HOLD.
great post @jrcornel 
Cheers!

I think there is some validity to your point about collusion. In the world of trading, there have been too many examples of these types of sinister activities (JP Morgan's Blue Whale, Libor Fixing scandal, currency manipulation, etc). And it's always at the expense of the masses. Unfortunately, the only counter point is the use of regulation, which would put the whole world of Bitcoin and the broader Cryptocurrencies under more scrutiny. Although initially unwelcomed, I think regulation could help "bring to justice" some of these events. Otherwise, we just have to suck it up...and deal with it.

Basically the same process that has been used on the gold market for years.
Buy the market up, Sell off.
Sell market down, buy up.  (take a little thinking to understand this one! Making money whilst driving a market downwards.)
But manipulation of any market is easy if you have 'enough'
The art is spotting the movements, riding the waves & earning.
Difficult / sad part is when "mum & dad" jump in uneducated. (read DOTCOM boom)

very good your brother publication