what driggered the drop?

Rich fags selling

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>>2207281

Don't know exactly but I guess it was a bit of a bubble. Here are some things that didn't help

1. Shit like this: http://www.cnbc.com/2017/05/26/ethereum-price-correction-bitcoin.html

2. Limp-handed faggots (like those on this board) that panic at the drop of a hat and can barely HODL their own cock because of their weak hands

same as what triggered the rise

chump idiots speculating

DGB cancelled the June 1 server release and everything got fucked.

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Still wonder how 20b went out in 12 hrs

Has /biz/ seriously never heard of a correction? Did new-coiners really expect the price to keep going up rapidly with no major dips ever? This is hardly a "crash", most coins are still way up from where they were months ago.

>>2207281
Sell in May
Walk away

>>2207281
>massive altcoin pump happened
>many people got rich during the pump
>pump finally reached its peak
>"ok time to cash out my profits"
>BTC surges a bit while altcoins began to fall, as people start cashing out their altcoin profits for BTC
>People then begin cashing out their profits via BTC for fiat, causing both BTC to fall AND altcoins to fall even further
>normies, boomers and other retards see red and begin panic selling
>panic selling trends with large momentum
>here we are today

Some richfags cashed out and retarded normies panic sold

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why wont market close when everyone is selling in panic?

>>2207432
Tell that to the NASDAQ

>>2207443
Best explanation I've read on /biz/ today.

ETH pumped 20x its value in 5 months. Ofcourse people are gonna cash out at some point and trigger a chain sell-reaction

>>2207359
Big can't hold shit if he doesn't have thumbs.

>>2207460
the fuck do you mean, you're not allowed to tell people not to sell lmao

>>2207478
Why does ETH drop cause BTC drop?

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>>2207281
It was time to close the bigboys margins

>>2207281
Dan

>>2207496
It's the other way around

>>2207514
Yeah I know... But then why did BTC suddenly drop in vlaue?

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>>2207494
tell that to poloniex lol

That instagram faggot caused it

>>2207496
I just took an example of ETH's growth, which was one of the smaller growth coins. Many coins reached as high as 50x growth this year. The overall cryptomarket went up tenfold within a year.

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>>2207523
who?

>>2207519
Typically whenever you see both BTC and altcoins drop together, it means that a lot of people are cashing out their BTC for fiat, which makes sense right now because we just had a major pump and a lot of people got rich.

This doesnt even include all the panic sellers who just dump everything at the first sign of red.

>>2207547
Dan Bilzerian or whatever the fuck his name is

>>2207559
HODL?

>>2207281
Profit taking, duh. Smart money, dude.
The drop was necessary, everything is going according to plan.

>>2207659
will the downward swing continue?

can someone tell me abit infos, KRAKEN takes way too much time, im trying to open tier 2 for a week I wanna buy Bitcoin using Creditcard (EU) what are my options

>>2207342
>>2207316
>>2207349
Already warn'd ya suckas about the bubble but you wouldn't listen