BTC is still falling to the pit and I want to know the reasons behind it and do you think it will go down more!
I am not sure whether we are in the same market together, or probably you are seeing an entirely different chart, but one thing I can see at the moment right now is just the market trying to find a direction and not a market that is falling to a pit like you have so called it. Even though it ends up falling to a pit, it still valuable and that is all that matters and knowing how valuable it is, is what would make you to easily picture the long term and take advantage of the fallen prices now. The reason behind the present correction is just that it is normal and healthy and I do not know why a lot of people just do not get that.
The reason of falling of the price for bitcoin is very simple. People who bought it a year ago just have begun to withdraw the money and to lock in profits in dollars. And new inflow of people very small and the price doesn't grow.
I guess most of the time, we always get to put some reasons that best suits us as people and then we tend to not realize the fact that this is a market and as long as a market shoots up and gets over bought, the chances of a reversal is something that is normal. We are in a corrective phase, and I do not see any market that has gone to the pit like the OP mentioned, and anyone who knows that this is just for the mean time, they will understand pretty well that this is a market that has been growing over the years, and it has obviously not stopped growing as far as I am concerned.
