On Friday, November 10, the bitcoin price went swiftly, dropping to 12:00 UTC below $ 6,800. According to Coinmarketcap, the weighted average rate of the first cryptocurrency at this time was $ 6,788.
So, the bottom on Bitfinex was by the time of publication fixed at $ 6671, on Bitstamp this indicator was $ 6722.
Thus, bitcoin, which at the beginning of the day was trading at around $ 7,200, has fallen in price by more than 5%.
bitcoin chart on 11/10/2017
Possible Reasons For Such Rapid Fall
One of the possible reasons for such rapid fall in the price of the first cryptocurrency is that after the announcement of the developers of SegWit2x about the cancellation users "disappointed" prospect of receiving free coins transfer assets to other cryptocurrency or fiat. To say this with confidence, however, is not easy, as it is not easy and to predict whether this effect will be long-term.
As for SegWit2x the series of recent events points to the fact that behind the scenes there are certain events, the consequences of which will probably become famous soon enough.
On the eve of a little-known mining pool bitPico said that it controls about 30% of the hashrate of bitcoin network and intends, contrary to the official statement, to implement the conceived hardfork.
Also it was discovered a mysterious website bitcoin2x.org, which externally differs little from bitcoin.org. On the website stated that the decision to continue with the planned work on hardfork.
Who is behind this resource, is still unknown, also draws attention that the link to Developer Documentation leads to a non-found page.
We add that in parallel with the decrease in the bitcoin price, the price of Bitcoin Cash is rising.
Source
https://bit.news/eng/price-bitcoin-fell-6800-background-rumors-ongoing-work-segwit2x-hardfork/
In my opinion it seems that people that have invested heavy in b2x futures are trying to recover their losses. And unbelieveable the price of the dead B2X raised 65% in the last 24 hours. Are people so dumb?