Topic: Bitcoin continues to decline, what causes it? - page 6. (Read 908 times)

There is No decline , instead there is a stagnant in value , meaning the price of Bitcoin is semi stable for long time now. at least month time?
and besides don't look at the decline to be a bad time instead use this to be your chance to buy more before the growth come to place lol.
I am sure that you will be in great place if you are willing to buy instead of selling .

Are you just seeing this in the past few days? Bitcoin has been on the decline since after its ATH on the 10th Nov. 2021 and you can see this clearly not by viewing the minute's chats but by the Daily Bitcoin chart and the market has a natural movement to correct after some momentous upward movement before its ATH even though we can say there was some other news that impacted the market but overall, it is natural for the market to correct.

First of all, bitcoin is only experiencing a bear move in price and not in "Value" please take note, as for those that have years of experience in bitcoin and cryptocurrency at large they will understand the need for this and i believe they are not moved by such, now let me explain this further to you, bitcoin as a digital currency is designed to be volatile, volatility means there wont be a stability in price or in other word no fix price for bitcoin, now you can understand if today the price is worth $38k before the end of the day it might arrived $40k and beyond.

This quonote the model of demand and supply we were taught in highschool, whereby when there is shortage in supply, there will be an increase in demand and as a result this may lead to inflation (but here we can assume inflation to be volatility in price) and same applies in the opposite as well, now people have the opportunity to make profits, place a buy, and then the economy boost back to normal or even beyond.

 If you're a trader, customers wouldn't patronize you unless they have a demand on what you sell and if you don't sell you can't make profit, now applies this the other way round and see what you stand to benefit, and same is the model of bitcoin price and volatility which does not have anything to depreciate it value, else nobody will want to bid for bitcoin whenever it runs deep.

You are right. I was comparing it with be other options you have; Mining and trading ar ways you can constantly grow your Bitcoin portfolio overtime, it's sort of like an investment to keep increasing the amount of Bitcoin you own (doesn't always work out so). Investing does not grow your bitcoins. You buy and hodl.

And that's why price declined or pumps are not out of the ordinary. They are consequence of market forces; Demand and Supply

I remember few years ago, when oil prices suddenly jumped, Bitcoin price suddenly felt down, even though a lot of people say these two are not connected. It was explained, that funds from crypto were moved to fiat to balance oil price jump. This might be a coincidence, but there was a huge explosion on oil depot in Belgorod few days ago. The damages has been done, problem on oil depot being solved, and Bitcoin price returned to $40k+. Coincidence?

The beauty of Bitcoin is that its price always shoots up  more than it falls down and makes new ATH. This historical fact has been proved again and again so long term Investors should never worry much about its volatility. The current bear market is due to FED statement of multiple  interest rate increase during the year but I am optimistic it will be absorbed by the market and Bitcoin will restart its upward journey as technically current price is sitting around 600 DMA and breakout is likely to happen any time soon.

Movement up and down the price of bitcoin, it is commonplace that the price of bitcoin usually goes down because there is negative news about bitcoin, the price of bitcoin will go down. like there are countries that prohibit bitcoin such as China prohibits mining bitcoin at that time the price of bitcoin fell.

Basically, people were cashing out their holdings.
News and analysis doesn't affect Bitcoin's price unless people would believe it. Since, cryptocurrency is a highly speculative market, then most probably some people who sold their Btc's today have found something that made them decide to sell their asset.
Fortunately, with Bitcoin's price today, I don't think there is a "destruction" that you said for Bitcoin lol.
There were far worst decline in 2018 than this, but look at how Bitcoin have recovered. Your account was registered in 2017, pretty sure you have witnessed the worst in 2018 right?

A lot of things! But it is staying strong though despite all the crap that has been going on with the world right now. If I would give a fair opinion, I would say bitcoin is not gon go below 35k anymore. if it does, 33k would be the farthest although I think it'll be pretty hard to reach that since as soon as the price goes near that price point, miners would have to do something along with the whales. There are just too much people involved in bitcoin now(big and small) that it would be easier to go higher than lower. These are just my personal views though and not a financial advice of any sort; just something to ponder about should I say.

Do you guys have no access to a chart that you have never looked at one?
If that's the case then here is a good link that you can see charts in: https://bitcoinwisdom.io/markets/bitstamp/btcusd
Just set the interval to 1 day and you can see that for the past 4-5 months there has been no "decline" whatsoever. Price has been going up and down in pretty much the same range (from $35k to $45k). Nothing needs to cause it, this is what accumulation phases in bitcoin have always looked like.

you clearly don't know the market of bitcoin , because it is not 63k instead almost 69k is what bitcoin reached last year.
so best to change that part or you will be taking into account in questioning .

Nope you are wrong , there are no continues decline instead Bitcoin price is holding its Value at 38-42k in which for me a strong hold for the supposedly dumping season ,

What decline?The current Bitcoin price is sitting at 40K USD.There's no decline.
The price got pumped to 48K USD for a while a few weeks ago,but that was a temporary price bubble.
Last year's October/November price pump to 68K USD was a price bubble.If you think that this was a stable price growth,you are simply delusional.The Bitcoin price is pretty volatile.It goes up and down.We can't expect the price to go always up and never go down.
All those newbie "is this the end of Bitcoin" posts,every time the BTC price drops by a few hundred dollars are getting annoying.

I think we simply hit the top of the cycle last year and now we are going to be in the 20-60,000 range until the next halving. Depending on what happens we will move up or down but I doubt that we will go above last year's peak until the next halving or go below 20,000.

there are many factors that make bitcoin go down, the most important of which is certainly the worsening economic situation in every country, inflation everywhere,
and as we know the law of the market if there are many who sell it will definitely be cheap and vice versa.
if this is the beginning of the destruction of bitcoin there will be no more discussion of bitcoin in forums and articles about crypto

Looking at the current decline, there will be a lot of people starting to lose faith in bitcoin that they forget that this is how the market works with bulls and bears.

This only happens to noob who do not have much experience on the market but this is what Shark wants it to happen, causing weak hands to sell panic, dumping. It will be an opportunity for them to collect Bitcoin at low prices. When the market decreases what we just need to hold and wait patiently, this is simple but not everyone can do it.

Beginning of the destruction? How many times bitcoin has been destroyed? Why do people like you always say that bitcoin is going to be destroyed when the price starts to drop? It's not something new. The market is very volatile. People sell their coins to keep their profit. The price drops, people start buying the price goes up. The rise, fall and recovery of the price is a very normal thing. Nothing to be surprise. Look at the chart and see how the price goes up in the long run.

I am really amused with people like you. Why do you guys immediately think of Bitcoin's destruction when Bitcoin is just going through some bear moments? There are so many people like you who immediately come up with the worst scenario in their minds every time Bitcoin experiences correction or normal price turbulence. Some people would immediately think of Bitcoin's ultimate crash or of Bitcoin's death. Did you even try to check the history of Bitcoin's price?

Unless if that account isnt his because you wont really be ending up this kind of question if you are really that aware on how the market behaves which compared back in the past until now.

You could really determine on what are the differences and its impossible for you not to be able to point out or compared in between these things.
Decline are normal which this market cant be called a market if we do only just move on a single or permanent path.

when the price JUMPS up. stop thinking that the HIGH point is "the new norm" where by any correction afterwards is then seen as a decline/or loss.

these high points are temporary and not sustainable the first time they hit.

instead always look at the long term BOTTOMS
EG 2020's $6k, 2021's $31k  2022's $35k
and notice the steady rise over time

hardly anyone is online with funds deposited ready to sell at the exact peak moment of the HIGH
but everyone is online and able to sell above the newly raised bottoms.

even right now, everyone online can sell for more then $35k.

..
in short the PRICE is not bitcoins "store of value amount"
the HIGH is not the 'norm' sustainable value.
the PRICE is not secured. its flexible and temporary

the real VALUE is the new raised 'bottom'
so think of the value store as the 2020's $6k, 2021's $31k and 2022's $35k.

anything above the new 'bottoms' is just speculative temporary price drama. not value

why should people always worry about this temporary decline.
I'm quite weird with most people here, they believe in bitcoin, they know they are an asset for the long term but they don't want to see a temporary decline like this.
Calm down buddy, there's no need to look for any reasons they go down and up because now it's a short term and maybe even very short. when you know that they are long term assets why use very short term for reference and panic