<p>Individuals playing Bitcoin for short-term investment make decisions based on history and round numbers. When you stack up some Bitcoin and they appreciate in value, you need to decide when to dump your Bitcoin for dollars before the value goes back down.</p>

<p>For many shorting Bitcoin, $200 was the magical number established back in April. When these people sell on the same day, then we have a lot of demand for Bitcoin satisfied and prices down.</p>

CC BY-SA 3.0
2013-10-24T11:55:04.830Z
2013-10-24T11:55:04.830Z
Brendonwbrown
<p>It's just a correction. It happens sooner or later.</p>

CC BY-SA 3.0
2013-10-24T09:36:53.460Z
2013-10-24T09:36:53.460Z
ralphtheninja
<p>someone sold a lot, causing a panic probably.
but it is up 50% in ten days, so nothing to worry about :)</p>

CC BY-SA 3.0
2013-10-24T17:31:54.660Z
how do you know that?
Salvador Dali
CC BY-SA 3.0
2013-10-25T12:04:58.217Z
50% up in 10 days sounds pretty worrying to me.
CodesInChaos
CC BY-SA 3.0
2013-10-24T08:09:15.700Z
2013-10-24T08:09:15.700Z
Alex
<p>The BTC/USD is down 10.38% at the moment. 
Does anyone know what happend? </p>

CC BY-SA 3.0
2013-10-24T07:34:38.920Z
Please read the [FAQ](http://bitcoin.stackexchange.com/help/on-topic). This type of question is not appropriate for this site.
Gaia
<economic-theory>
What's causing the drop today?
DW2005
# What's causing the drop today?

(Asked by: username_0 on 2013-10-24)

The BTC/USD is down 10.38% at the moment.
Does anyone know what happend?

**Tags:** economic-theory

> **Comments:**
> **username_1**: Please read the [FAQ](http://bitcoin.stackexchange.com/help/on-topic). This type of question is not appropriate for this site.  

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## 3 answers

### Answer by username_2 on 2013-10-24. Score: 2

Individuals playing Bitcoin for short-term investment make decisions based on history and round numbers. When you stack up some Bitcoin and they appreciate in value, you need to decide when to dump your Bitcoin for dollars before the value goes back down.

For many shorting Bitcoin, $200 was the magical number established back in April. When these people sell on the same day, then we have a lot of demand for Bitcoin satisfied and prices down.


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### Answer by username_3 on 2013-10-24. Score: 0

It's just a correction. It happens sooner or later.


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### Answer by username_4 on 2013-10-24. Score: -1

someone sold a lot, causing a panic probably.
but it is up 50% in ten days, so nothing to worry about :)

> **Comments:**
> **username_5**: how do you know that?  
> **username_6**: 50% up in 10 days sounds pretty worrying to me.  

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