Possible reason why Bitcoin price is decreasing for last few days - page 2.

cryptokingdom

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Quote from: BrewMaster on June 10, 2018, 10:06:26 AM

Quote from: lelam on June 10, 2018, 08:20:21 AM

This was not a question and let me give the possible reason. There is no major negative news and thus it is not because of it. There are next gen of ASCIs which had made mining easier. These are being tested by some pools and cost of mining btc is reduced because of this. They can thus sell for less and thus prices have reduced.

this doesn't even make any sense and you are wrong about some parts. i made them bold.

first is the fact that there was only talk about a big company in Japan releasing their new ASIC that they claim is more efficient than Bitmain's ASICs. i don't think it has reached any "farms" (not pools) yet.

second even if they already have it and it costs less for them to mine bitcoin that still doesn't mean they are going to sell it for less! that is not even a logical human behavior.
imagine this, you are in a signature campaign and lets say they pay you 0.01BTC per week which you sell. if next week they pay you 0.015BTC and price is $7500 will you sell your coins for $6000 per bitcoin? then why do you think miners will sell it for anything lower?

I am in agreement with your point, no miner will sell at a lesser price Even though they have profound another means of mining with low cost. Even hackers don't sell at low Price.

Dava.Dina

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The real reason is the market manipulation that has been going on since the beginning of this year when prices start rising from $ 10k to $ 20k and continue to deteriorate when the price correction is done and we reach the valid bottom at $ 10k.

Although the problem has affected other coins but indirectly reflects the price of Bitcoin as well. All alt coin movements also reflect the Bitcoin price.

So now the problem is in a very short recovery phase it will be restored and normalized.

Hughes_Ryan

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Quote from: lelam on June 10, 2018, 08:20:21 AM

This was not a question and let me give the possible reason. There is no major negative news and thus it is not because of it. There are next gen of ASCIs which had made mining easier. These are being tested by some pools and cost of mining btc is reduced because of this. They can thus sell for less and thus prices have reduced.

As far as I know, a Korean exchange has stolen a lot of bitcoin and altcoin assets by hackers. since they posted this information online and many were scared to sell bitcoin at low prices to retreat from the market

Cofee.BLUE

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There's a facts that there are a lot of reasons why bitcoin price are decreasing and maybe because of the supply and demand. Well, in decreasing period, we have not something to do with that because we can't control the btc movement and all we can do for now are still supporting it and if it's possible we do promote bitcoin to other people that we know in a way of encouraging them to try to have involvement to this so in that way we can help bitcoin to have a much more supporters and to have a chances that we can make increase in numbers of it's adaptations and demand.

crea8ivemoiz

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Well there is many reason behind this like aside from the looming prospect of regulation, a series of high-profile thefts have also had a hand in the
sudden rapid dips in value bitcoin and its rivals have experienced.

Pursuer

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Where is my ring of blades...

Quote from: Inkdatar on June 13, 2018, 12:59:14 AM

Quote from: naigelbit on June 12, 2018, 11:17:36 PM

I think the possible reason why bitcoin is decreasing price, Because of those investor who panic selling there bitcoin, they fear of losing profit, and one think to be considered those whale's that can manipulate the price of bitcoin.

Well panic selling really contributes in decreasing of price. And a lot of reason's why bitcoin price decreased also lack of adoptions and good news. So I think this year their is good news to happen for bitcoin.

the bitcoin adoption is an ongoing thing, it is always happening without stop. so you can't say it is because of "lack of adoption".
lack of good news and panic sellers are valid reasons but they are not big enough reasons to be able to move the market like what we have been seeing in the past couple of months. they just contribute to the downtrend, that's all. the real reason is the market manipulations that have been taking place from the start of this year when price started going up from $10k to $20k and continued getting worse as price correction was done and we reached a valid bottom back at $10k.

Ethan Argu

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There's are many possible ways that bitcoin is dropping too low of its cost. but rest assured that sooner or later it will increase or it will cost larger amount than this past few days because not all the time and all of a sudden bitcoin will cost high.

kiemponxs

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yes it is possible, because until now there is no negative news about bitcoin but bitcoin prices fall again, and it makes all altcoin i hold mangalami decrease too, i hope bitcoin can be faster to climb back higher and more stable again.

Inkdatar

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Quote from: naigelbit on June 12, 2018, 11:17:36 PM

I think the possible reason why bitcoin is decreasing price, Because of those investor who panic selling there bitcoin, they fear of losing profit, and one think to be considered those whale's that can manipulate the price of bitcoin.

Well panic selling really contributes in decreasing of price. And a lot of reason's why bitcoin price decreased also lack of adoptions and good news. So I think this year their is good news to happen for bitcoin.

Herbert2020

legendary

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the latest drop is because of pure manipulation in the market. it had nothing to do with mining, ASICs and cost of them at all. the evidence is also there for everyone to see. the charts never lie, if you look at them there was a sudden huge "offloading" on the market where some entity dumps a massive amount on the market to push the price down, it wasn't a nature downtrend this time.

budismile

jr. member

Activity: 293

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Currently many are doing Ponzi Scam on mining, which resulted in diminished interest of miners. this is very effect on bitcoin, if the decrease of miner enthusiast then bitcoin will decrease
that's why bitcoin prices are declining.

salintheonline

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Bitcoin price plunges after cryptocurrency exchange is hacked ... The world's best-known cryptocurrency lost $500 (£372) in an hour, dropping to $6k

naigelbit

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X-Block.io

I think the possible reason why bitcoin is decreasing price, Because of those investor who panic selling there bitcoin, they fear of losing profit, and one think to be considered those whale's that can manipulate the price of bitcoin.

jack.anroid

newbie

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I don't what specifically making fall in the price of bitcoin. Probably, different bans and scams are mostly resposible. However, these are all temporary effects. The price is going to be rise up very soon.

cryptodalton

jr. member

Activity: 126

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The scams are increasing day by day which is creating the price fall in the market. Besides, many negative FUDs are also responsible for this which results in decreasing of demands. Something should be done so that these issues can be solved.

sunlitit654

newbie

Activity: 252

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Basically in crypto market there are lots of coins are available but btc has the good positions in the market but nowadays most of the coins are infected for price also this will create more problems based on customers mainly the price of btc is falling but I think it will raise again soon.

ClarenceDo

newbie

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Basically I don’t know why you are telling this because in June the price of btc increased also last month it was infected for price its true because of lack of investors in the market many of them withdraw their money based on the conditions of market so the price goes down.

hibiscus

newbie

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The bitcoin price is decreasing for the last few days it is because of the Korean exchange has hacked badly so there is a sudden drop in bitcoin price which has gone down below +7 k usd.Now the problem is in the recovery stage very shortly it will be recovered and normalized.Though the problem has effected to other coin but it is indirectly reflecting to bitcoin price as well. All alt coins movement also reflecting to bitcoin price.

13abyknight

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Quote from: lelam on June 10, 2018, 08:20:21 AM

There is no major negative news and thus it is not because of it.

You my friend, need better sources of news as the South Korean exchange hack news is currently the biggest factor that is causing this backlash on Bitcoin prices from the past few days. It is going to be a hard recovery road with the past month not bringing in too much of growth, the situation looks pretty grim.

susila_bai

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In my view i can only say that most of the country have started to regularise the crypto currency so they have stopped all exchanges to trade till new regulations are formed. That is why the users are worried what will be the regulation terms so they are selling on each fud. they are thinking that some thing is better then nothing so they started selling it.

Topic: Possible reason why Bitcoin price is decreasing for last few days - page 2. (Read 541 times)