[2018-01-18] 5 Reasons why Januasy`s Price Slump is Nothing to Worry About

Simpan

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Quote from: wilhb81 on January 21, 2018, 10:34:45 PM

If we look back on the previous years chart, we can easily notice that January is usually a dip or consolidation month for Bitcoin (coincident or what, I don't know...) After the end of January, Bitcoin is going to pick up steam again~

I agree with that. After the consolidation, the price will rise a lot again, like last year.

veleten

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Quote from: onrise on January 23, 2018, 01:51:59 AM

Quote from: mintedstone on January 23, 2018, 12:53:18 AM

Bitcoin price slump is never a concern, history already proved itself...

Yes this time it slump after the news came from South Korea and France. Thus the negative news will always going to dump the prices because it has a huge potential impact in future trades. As if one country decides to ban then certainly that country % which constitute in the trade of btc will fall and demand will get reduced. Thus at every such occurrence of positive or negative news will impact the btc prices.

the problem is not only in negative or positive news but in the timing
they coincide in time which is very suspicious
as it can and probably is used to manipulate the price and if it is done
then it is done on a global level,with the highest hierarchy of countries' financial and political elite involved
when oil prices are falling or rising due to the decisions of the OPEC club
we take it for granted,why there can't be such a "bitcoin OPEC" that we do not know or see?

onrise

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Quote from: mintedstone on January 23, 2018, 12:53:18 AM

Bitcoin price slump is never a concern, history already proved itself...

Yes this time it slump after the news came from South Korea and France. Thus the negative news will always going to dump the prices because it has a huge potential impact in future trades. As if one country decides to ban then certainly that country % which constitute in the trade of btc will fall and demand will get reduced. Thus at every such occurrence of positive or negative news will impact the btc prices.

mintedstone

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Bitcoin price slump is never a concern, history already proved itself...

Decrypted1

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Quote from: expert4knowledge on January 21, 2018, 11:23:17 PM

Why people need an article to be reassured every time the bitcoin suffers a little dump ?

Maybe because it wasn't that little, it was already at 20k. Undecided

J. Cooper

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Alea iacta est

Quote from: AK47- on January 22, 2018, 02:31:13 PM

January price slump is no big deal because despite of all the regulations and crypto exchange account crackdown in south Korea, India and others there is plenty of bullish news. First being widespread adoption in Russia, then Morgan Stanley announcing the trading of BTC futures, segwit adoption increasing to 20% which has helped transaction times go down significantly. If anything less & less BTC are left to be mined. So sooner or later than deflation will kick in.

When in a couple of years the last bitcoin wil be mined and people start realizing what we've all realized for quite some time now. Then surely the FOMO will start to kick in and the majority of folks will get desperate for a fraction of a bitcoin (atleast if they realize you can get a fraction of a bitcoin Tongue

). By that time we should have fixed the scaling issue (hopefully we will see a fully operational LN.

AK47-

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January price slump is no big deal because despite of all the regulations and crypto exchange account crackdown in south Korea, India and others there is plenty of bullish news. First being widespread adoption in Russia, then Morgan Stanley announcing the trading of BTC futures, segwit adoption increasing to 20% which has helped transaction times go down significantly. If anything less & less BTC are left to be mined. So sooner or later deflation will kick in.

Sir Cross

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Quote from: Kemarit on January 19, 2018, 02:41:40 AM

Quote from: superjeyy on January 19, 2018, 02:27:17 AM

Quote from: davis196 on January 19, 2018, 01:57:57 AM

I never thought that the Chinese Lunar New Year,might have an impact over the btc price.Perhaps millions of chinese people sold a part of their crypto savings in order to buy some gifts with fiat money. Grin

Cryptocurrencies are more consentrated in Asia,compared with the rest of the world.The biggest exchange platfroms are located there,most of the crypto mining is still located in China.This reduces the worldwide stability of the crypto industry.I wish that crypto mining and trading will be distributed equally among most of the countries worldwide,not in only one or two big countries.

I never thought that big occassions can also have an effect towards Bitcoin rate, davis196. It was only during the Christmas holidays when I first experience a solid dip from the rates reaching almost $20,000 and crashing as we near Christmas and New Year. Knowing the big role Asian countries play in the crypto world and how much they value occassions as such, its surprising how it can greatly affect the market. But as the news state, there are many factors affecting the growth of Bitcoin and at this season, it can be considered a natural occurence for Bitcoin to experience a decline. We should know this as it has been proven consistent over time.

If you guys are not Asian, you wouldn't understand how people in that region really celebrate holidays specially New Year. Its a festivities that everyone is looking for that's why there are really a lot of dumping during this time because we all need fiat's. Although last year, we didn't see similar activity if I'm not mistaken, but times have changed now. And I would agree with the article, it covered what we have suspected all along, that this dump is attributed to those factors. We can't really stressed enough how the Asian market plays a big role, so I sudden sneeze causes a domino effect on the price of crypto's in general. But again, this is just a short term in the economy. Bitcoin is slowly regaining and building momentum.

Asian countries are known to be very traditional and even though that the Chinese Lunar New Year sounds like just a regular holiday, asians take their holidays very seriously. Even in modern times, they still strictly follow customs and traditions. Because of the large volume of crypto-users in Asia, it has created an impact along with how it coincided with other events such as the price correction plus other FUDs.

Right now, we're seeing a steady rise and recovery for bitcoin, after having went through the rough price drop. It was but expected for bitcoin to recover with all the supporters still present. There are still a lot who believe that this is a long term investment.

expert4knowledge

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The All-in-One Cryptocurrency Exchange

Why people need an article to be reassured every time the bitcoin suffers a little dump ?

wilhb81

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Any store can buy, sell, and accept Crypto

If we look back on the previous years chart, we can easily notice that January is usually a dip or consolidation month for Bitcoin (coincident or what, I don't know...) After the end of January, Bitcoin is going to pick up steam again~

BitHodler

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Quote from: gabbie2010 on January 21, 2018, 10:04:38 AM

hopefully after the Chinese festivals the market will bounce back and regain it's momentum hence increasing the price liquidity which will attract more investors.

It will. If we look back at how the market reacted after similar time frames where fud was circulating heavily, it has always gone up again, from where it then has reached a new all time high as result.

It has happened so frequently, that I seriously expected the market to handle the recent correction and fud that was tied to the Asian market in a far more better/mature way.

Regardless of how often we experienced similar fud attacks and corrections, this market never seems to grow up. In nearly every aspect there has been so much progress lately, but not regarding the aforementioned.

veleten

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too much perfectly timed FUD coming from many sources I think is the main reason
for this megaslump,or call it a nosedive if you will
January slump could be nothing compared to the Februaries one,IMHO
we have to expect the price fall below the psychologically important 10k mark
but the market can be manipulated either way,there could be sudden streak of positive news,some may come from Russia
or Korea (legalising and NOT banning,respectively)
so in general: don't panic,HODL
end of the year should be around 25.000$

gabbie2010

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Quote from: superjeyy on January 19, 2018, 02:27:17 AM

Quote from: davis196 on January 19, 2018, 01:57:57 AM

I never thought that the Chinese Lunar New Year,might have an impact over the btc price.Perhaps millions of chinese people sold a part of their crypto savings in order to buy some gifts with fiat money. Grin

Cryptocurrencies are more consentrated in Asia,compared with the rest of the world.The biggest exchange platfroms are located there,most of the crypto mining is still located in China.This reduces the worldwide stability of the crypto industry.I wish that crypto mining and trading will be distributed equally among most of the countries worldwide,not in only one or two big countries.

I never thought that big occassions can also have an effect towards Bitcoin rate, davis196. It was only during the Christmas holidays when I first experience a solid dip from the rates reaching almost $20,000 and crashing as we near Christmas and New Year. Knowing the big role Asian countries play in the crypto world and how much they value occassions as such, its surprising how it can greatly affect the market. But as the news state, there are many factors affecting the growth of Bitcoin and at this season, it can be considered a natural occurence for Bitcoin to experience a decline. We should know this as it has been proven consistent over time.

This is a pointer to show that Asians has a major influence on the price of bitcoin, I believed those reasons mentioned above had a great impact on the price of BTC in the recent times hopefully after the Chinese festivals the market will bounce back and regain it's momentum hence increasing the price liquidity which will attract more investors.

J. Cooper

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Alea iacta est

Quote from: Qartersa on January 18, 2018, 06:32:16 PM

This is the reason Bitcoin is losing momentum.

I would even dare to argue that Bitcoin is accumulating moment instead of losing momentum. Historically the turn of the year has never been great for Bitcoin price wise if we compare it to the past few years. You also need to keep in mind that we're closer to LN than ever (adoption is increasing by the day) and if this scaling solution proves suitable, than we will see the demand for Bitcoin skyrocket again.

Samarkand

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Quote from: FollowSynergy on January 18, 2018, 06:42:40 AM

... Since nations in Asia are responsible for the lion’s share of crypto trading, it stands to reason that this could contribute to the annual selloff.

...

I´d argue that the trading volume reported by the Asian Bitcoin exchanges
is skewed due to the fact that many of them allow wash-trading or the use
of zero-fee vouchers. If Bithumb wouldn´t sell/give out zero-fee vouchers
it would be nowhere near the top 3 of the total Bitcoin trading volume.

This development got exacerbated by the fact that many Chinese traders
had to look for new exchanges outside of China aber the PBOC banned the
local exchanges.

8270thNinja

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busy in real life, long post gap is understandable

I agree on the way how Asian celebrates their New Year, even Christmas.Bitcoin reached a new high on December last year, which We can assume that some Chinese or Asians, sold some of their Bitcoin to fiat to have a grand celebration. Nothing to worry about, Bitcoin will recover will reach a new high and i am confident to hold my BTC. Some people should try to understand and consider that this is a normal cycle on crypto world, Bitcoin's volatility is normal and People should start embracing it and adjusting their perspective on this kind of events.

Kemarit

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Quote from: superjeyy on January 19, 2018, 02:27:17 AM

Quote from: davis196 on January 19, 2018, 01:57:57 AM

I never thought that the Chinese Lunar New Year,might have an impact over the btc price.Perhaps millions of chinese people sold a part of their crypto savings in order to buy some gifts with fiat money. Grin

Cryptocurrencies are more consentrated in Asia,compared with the rest of the world.The biggest exchange platfroms are located there,most of the crypto mining is still located in China.This reduces the worldwide stability of the crypto industry.I wish that crypto mining and trading will be distributed equally among most of the countries worldwide,not in only one or two big countries.

I never thought that big occassions can also have an effect towards Bitcoin rate, davis196. It was only during the Christmas holidays when I first experience a solid dip from the rates reaching almost $20,000 and crashing as we near Christmas and New Year. Knowing the big role Asian countries play in the crypto world and how much they value occassions as such, its surprising how it can greatly affect the market. But as the news state, there are many factors affecting the growth of Bitcoin and at this season, it can be considered a natural occurence for Bitcoin to experience a decline. We should know this as it has been proven consistent over time.

If you guys are not Asian, you wouldn't understand how people in that region really celebrate holidays specially New Year. Its a festivities that everyone is looking for that's why there are really a lot of dumping during this time because we all need fiat's. Although last year, we didn't see similar activity if I'm not mistaken, but times have changed now. And I would agree with the article, it covered what we have suspected all along, that this dump is attributed to those factors. We can't really stressed enough how the Asian market plays a big role, so I sudden sneeze causes a domino effect on the price of crypto's in general. But again, this is just a short term in the economy. Bitcoin is slowly regaining and building momentum.

superjeyy

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Quote from: davis196 on January 19, 2018, 01:57:57 AM

I never thought that the Chinese Lunar New Year,might have an impact over the btc price.Perhaps millions of chinese people sold a part of their crypto savings in order to buy some gifts with fiat money. Grin

Cryptocurrencies are more consentrated in Asia,compared with the rest of the world.The biggest exchange platfroms are located there,most of the crypto mining is still located in China.This reduces the worldwide stability of the crypto industry.I wish that crypto mining and trading will be distributed equally among most of the countries worldwide,not in only one or two big countries.

I never thought that big occassions can also have an effect towards Bitcoin rate, davis196. It was only during the Christmas holidays when I first experience a solid dip from the rates reaching almost $20,000 and crashing as we near Christmas and New Year. Knowing the big role Asian countries play in the crypto world and how much they value occassions as such, its surprising how it can greatly affect the market. But as the news state, there are many factors affecting the growth of Bitcoin and at this season, it can be considered a natural occurence for Bitcoin to experience a decline. We should know this as it has been proven consistent over time.

davis196

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I never thought that the Chinese Lunar New Year,might have an impact over the btc price.Perhaps millions of chinese people sold a part of their crypto savings in order to buy some gifts with fiat money. Grin

Cryptocurrencies are more consentrated in Asia,compared with the rest of the world.The biggest exchange platfroms are located there,most of the crypto mining is still located in China.This reduces the worldwide stability of the crypto industry.I wish that crypto mining and trading will be distributed equally among most of the countries worldwide,not in only one or two big countries.

Qartersa

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Activity: 868

Merit: 535

I agree. With those aforementioned, it is safe to say that the nosedive in the remaining days of December 2017 up until the first few weeks of January 2018 is but a normal phenomena especially so that it has likewise happened in January of 2017. When Bitcoin reached its peak last year, it was all over the news hence its popularity became more apparent worldwide. Hence, people who have no idea about it instantly gained 'somehow' a knowledge on it and immediately decided to invest in it. When Bitcoin's market started to take a dip, these same people are going insane by withdrawing the amount of money they invested in it because their know how on Bitcoin's market fluctuation is just thin thus causing disruption on Bitcoin's current demand. This is the reason Bitcoin is losing momentum.

Topic: [2018-01-18] 5 Reasons why Januasy`s Price Slump is Nothing to Worry About (Read 247 times)