There are more reasons Ive heard with this sudden down price of bitcoin. Most users swing into other altcoins or bitcoin cash to take profit. And most said taking profit for this Upcoming Christmas but in these reasons to enlighten most not to panic that btc price to swing to up again.

I use to have this big red V8 sports car and all my friends wanted one but then
my girlfriend dropped me and the price of gas went up and the value of my pride
and joy shot down.

Do you think it was because my girlfriend dumped me or because the gas
price went up on my V8 12 MPG ram-rod 

Week-hands selling is the main reason, Few of the investors sold it because of converting into altcoins because altcoins were growing. Apart from that week hands sold it at low. They will regret it soon.

I think the festivals are the main reason behind this dip. It's not like I've heard things but I honestly believe that Christmas and New Years are the causes for this dip to happen. I don't believe people are getting attracted more buy altcoins than bitcoins and so they are dumping and selling what they have left. No, that can't be true. I think this is the year of time when people need cash on their hand, not online money. However, I just shared my opinion. Thank you

I think there is no reasonable explanation for this other than whales cashing out and playing the market. Which worried me a lot this time around, since the decentralization of bitcoin, of which we are very proud, doesn't mean much if whales can trigger a chain reaction of this magnitude.

I don't have much to why the price of bitcoin went down in this recent days, but from my personal observation of the situation it seems it is due to brake down in blockchains and congestion in the bitcoin network.

Its mostly because of the transaction fees that been so high recently, People are very fed up with that. In my honest opinion, that's the reason for the current dip.

1. I doubt it. Every year people were predicting Christmas dumps and I've always taken these news with a grain of salt. Remember that BTC is worth so much right now that you could buy gifts for a pretty large family with no more than 0.1 BTC. Why would anyone exchange 15+ thousand USD and block themselves from potential profits just to buy gifts for a fraction of that amount?
2. Futures? I think it could cause some fluctuations, but they are making money anyway. They just have to predict the price, they aren't buying or selling at exchanges and this is what moves the value.
3. You must mean youbit. That exchange wasn't big enough to cause a correction.

Holidays and people who panic sold