- Bitcoin dropped sharply Wednesday, falling $500, or about 5%, in just over an hour.
- Other cryptocurrencies fell even more sharply, with both ether and Ripple’s XRP losing about 12%.
- There does not appear to be a clear catalyst for the sell-off.
Somebody must have sold one ! 
Whales being whales. This is what makes trading or holding cryptos so frustrating. Look away for an hour and you can get a 5% and even higher move.
Awesome read on what’s a potential cause of the drop:
Most important line to me(it’s a long read):
I think it’s best we start here. 111k BTC from silk road was transferred to multiple exchanges a matter of days ago after over 4 years of inactivity… I’m sure he’s just looking to buy some cheap hot alts though… Yes that was a joke…
What do you make of this?
Just when things were looking up… 
It’s clear enough for me. You should take a look at what happens to the levels of shorting that take place when bitcoins price is hovering around 6k.
I don’t know how people are acting up all shocked that btc fell down, many traders predicted that if bitcoin fails to break the downward trend of 7400’ish it would fall badly.
The “news” of Goldman sachs delaying their process of setting a trading desk def affected btc. Goldman just today cleared the air by telling that the whole trading desk thing was fake
Source - Goldman Sachs CFO calls speculation about bitcoin ‘fake news’
Not very good news but not surprising. So the article suggests that this drop might have been caused by recent changes in the ShapeShift platform according to which the users will have to provide personal data. I thought that cryptos offer anonymity but nop, this will be taken away soon. And even the CEO of ShapeShift is not quite happy with these changes although his company has introduced them and at the moment they are “optional”. It’s a bit strange situation. Following that logic, what will happen if other platforms apply such personal data rules? Will cryptos fall off the cliff for good?