Since hitting a record high of over $2700 on Thursday, the digital currency Bitcoin has gone into a sharp correction, losing nearly 30% of its value in just two days, according to numbers from CoinMarketCap. A broad range of cryptocurrencies, including Ethereum, Ripple, Litecoin, Dash, and Monero also declined, in most cases dropping even more steeply.
Some analysts have described this as profit-taking, which would suggest the declines will level off. But technical analysts speaking to CNBC say the losses could go as deep as 46.5%, pushing Bitcoin down to $1,470.
go through it----http://fortune.com/2017/05/27/bitcoin-price-drop/
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I think this is the result of many ICO cashing out their money to support the development of their project. Those ICO includes Bancor, Status, BAT,...etc.
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