what are the causes of the continuous plunge in Bitcoin?

darewaller

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Quote from: RemarkJohn on June 12, 2018, 04:32:40 AM

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

Some people were predicting that increase that came on May, but they were not correct cause they claimed it’s going to take the price to around $15,000 dollars but it wasn’t able to cross $10,000 that month or was it $11,000, can’t remember.

This last months are going to be a lot of different, a lot of investors are likely to come back. People believe there is going to be a pump soon and the price has been increasing little.

Pattart

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Quote from: noah tall on September 03, 2018, 08:07:00 AM

Quote from: justdimin on August 28, 2018, 12:12:40 AM

Quote from: Visteryy on August 26, 2018, 05:13:52 PM

Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

The major factor that I can pinpoint here is more or less like that weak investor factor where a lot of people were trying to get rich overnight, the price skyrocketed with no basis except for everyone trying to get greedy and before you know it, things started changing as the whales dump on the market, little negative news starts driving weak hands out of the market even at loss and then we just are trying to find a bottom now.
Market that is driven based on speculations will always act this way.

Yeah that is the drama that usually happens in the crypto market from pump to dump, we know how it happened? how frantic hands with
cheap news and speculation make them panic, so we as traders must remain ready and not late in making decisions..

fullhdpixel

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Quote from: dr_chen on September 25, 2018, 09:00:33 PM

The crypto market is not a regulated financial market, there is no limit to the decline and rise. The crypto market works 24 hours a day, no specific session hours. Manipulation and FUD are endless. In this case, I am not looking for a specific reason for the fluctuations to be large.

Fluctuations will always be large, as there is absolutely no two ways about that. This is a market that actually have decentralization written all over it, and that makes it easy for the whales to always make the market dance to their tunes every single time, unless of course we start seeing the centralized exchanges being regulated, but at the end of the day, this is where decentralized exchanges come in.

Even though, liquidity wise, centralized exchanges will still always end up having it. Plunge and fluctuation is a normal thing for any market, it is only the level of volatility when it comes to each market that differs but not like it would be like that forever.

justdimin

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Quote from: yitzjoe on September 25, 2018, 09:29:34 PM

Quote from: omonuyak on September 02, 2018, 11:29:53 AM

The market most follow the way it went up down and of a truth we have to prepare for this. Last year we were saying why is the market going up the way is doing and many were saying then that we should expect a fall.

the current market downturn is quite serious but I am optimistic this will rise. crypto prices fell dominated by many new ICOs that became scams and many investors were afraid to invest in crypto, as well as the resolution of ETFs that made crypto prices more volatile

There is nothing serious much about the downtrend, it is a normal thing, it is a very healthy correction and it is only a chance for those who are smart enough to take advantage of a lower price to get in, something that it is quite unfortunate as a lot of people tend not to always take advantage of which makes only few smart ones available in the space.

People whine everyday as if plunges in price is always a problem, but in reality and for a market not to experience plunges like this, we have to clamor for real life usage, as this is the only way we will be able to get some little balance, but as long as the market can go up in percentage within few hours, that is the same way it can come back down.

el kaka22

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Quote from: RemarkJohn on June 12, 2018, 04:32:40 AM

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

First of all is the short futures and long futures.
Well, longs are not the problem but the shorts are, I have seen a number that stated 53% of futures sold was shorts recently which means more people believe in bitcoin going low so much that they are willing to bet on leveraged numbers to get shorts.

Do you think bitcoin can succeed and go high and increase in price when the people that uses bitcoin mostly believe that bitcoin will go down and want to try and profit from this drop ? We will not be going anywhere high until the people stop investing into shorting and start investing on long term increase. Otherwise we will just be around these numbers.

Dudeperfect

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As we all know that, the price rally in the last quarter of last year was a result of the involvement of big whales and institutional investors but when they decided to exit, it created a panic selling pave and that ultimately resulted in the correction of 65%. However, I am expecting a recovery in the coming months and we will see a fresh all-time high level soon, no doubt the big whales and institutional investors would try to take the benefit of this upcoming momentum.

Flor1982

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There are lot of reasons like FUD, regulation, hacked exchanges and the bearish market that still in effect in which it makes the people to become afraid to invest anymore resulting to the real demand to reduce and to become low.

yitzjoe

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Quote from: omonuyak on September 02, 2018, 11:29:53 AM

The market most follow the way it went up down and of a truth we have to prepare for this. Last year we were saying why is the market going up the way is doing and many were saying then that we should expect a fall.

the current market downturn is quite serious but I am optimistic this will rise. crypto prices fell dominated by many new ICOs that became scams and many investors were afraid to invest in crypto, as well as the resolution of ETFs that made crypto prices more volatile

dr_chen

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The crypto market is not a regulated financial market, there is no limit to the decline and rise. The crypto market works 24 hours a day, no specific session hours. Manipulation and FUD are endless. In this case, I am not looking for a specific reason for the fluctuations to be large.

jaxteller

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I think there are 2 possibilities. Either, one: because the late 2017 hype is gone. Like literally, no one talks about crypto or bitcoin, or two: whales are controlling the entire market. I think it could be a combination of both. Hope it recovers soon.

omfg.xekcep

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Quote from: RemarkJohn on June 12, 2018, 04:32:40 AM

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

I suppose that there is no person on the forum who knows exactly why it is happening with Bitcoin so we just may make assumptions but no more. You are trying to bind Bitcoin with CNY and CNH I am not sure that it is right. I myself tried to bind Bitcoin with other assets like dollar (DXY), gold and the stock market (DJIA) but it was waste of time. I could not find any dependencies and ties. My stance is that currently Bitcoin is accumulating liquidity on the low values for the further growth but I absolutely do not know when Bitcoin will begin growing substantially again.

StarofBTC

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Quote from: billygarrison on September 15, 2018, 08:37:33 PM

there are so many causes of falling bitcoin prices, I think those who managed to buy bitcoin at low prices and sell them at high prices and hackers who managed to steal bitcoin on bitcoin mining sites and cryptocurrency markets

There could be any reason at all, but nothing changes the fact that no one knows. It is a market, there will always be fluctuations between supply and demand and as long as one is greater than the other, market will always shift towards the ones with the larger levels.

There is no much real demand for bitcoin at this stage and let's face it, whatever happened in the past with all the skyrocketing of prices, are all just plain manipulations, and a way for some whales to just cash out real big. What we are seeing now is just the corrective effect of it.

Ycekezuv

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Everything is quite simple. Bitcoin is sold and no one buys as a result of which the supply exceeds demand and the price falls!

ngalamunan

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Quote from: Ezenwanyi on September 02, 2018, 10:40:49 AM

The causes are not far fetched.
There is the big market players factor: prices are being manipulated by whales.

Unfounded rumour about government interference.

Negativitity from investors and traders.

Spreading of fud.
The high volatility nature of bitcoin.

the problem is Bitcoin Scalability. Talking about the reason why the price of Bitcoin has dropped, it will not be separated from the problem of scalability, Bitcoin Legality Issues. The legality problem is actually not a new issue in the crypto world, the launch of Bitcoin Futures. At the end of 2017, two world futures markets released new products in the form of Bitcoin Futures, Crypto Not Only Bitcoin. Bitcoin is indeed a brand that is inherently synonymous with cryptocurrency, Bitcoin mining costs increase. Many people fall in love with Bitcoin because of the appeal "can mine their own money.

Kevin77

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Quote from: Ferry22 on September 15, 2018, 09:02:43 PM

The price of bitcoin continues to fall because people panic so they sell their coins, the more people who sell coins, the greater the supply of bitcoin, while the demand for bitcoin decreases because of the current situation which causes investors to lose interest, even if we want to invest this is time that is very appropriate.

Well, it is not just about people panicking, we also have to understand that people got greedy as well at some point and this is more like the ripple effect of a greedy market. It happens everywhere when it comes to people participating in FOMO, and there is no way a market would go so huge, that at some point it won’t reach a stretched state and therefore would need to correct.

Every market is bound to face it and I wonder why a lot of people make it sound like it is only applicable to the cryptocurrency market alone. Moreover these types of falls are not new for crypto market by any means because bitcoins reached $1200 levels for the first time in 2013 and then setting up then ATH by 2017 only. In between time, it went as low as $180 in 2015. It is just cycle of every market and crypto markets are not an exception here.

Commotheon

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Quote from: noah tall on September 03, 2018, 08:07:00 AM

Quote from: justdimin on August 28, 2018, 12:12:40 AM

Quote from: Visteryy on August 26, 2018, 05:13:52 PM

Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

The major factor that I can pinpoint here is more or less like that weak investor factor where a lot of people were trying to get rich overnight, the price skyrocketed with no basis except for everyone trying to get greedy and before you know it, things started changing as the whales dump on the market, little negative news starts driving weak hands out of the market even at loss and then we just are trying to find a bottom now.
Market that is driven based on speculations will always act this way.

The other thing is it can be banned now days many countries are trying to take it down it the big effect which is now disturbing its price.

MMS2017

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Crypto market is plunge by many factors and not only bitcoin but all crypto price plunge while in the present time bitcoin is still good and it is fact that rise and fall is random which shows the activities in crypto and through this demand and supply of particular coins also find out. In these days once again bitcoin is showing a rise in the price.

promich21

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Quote from: noah tall on September 03, 2018, 08:07:00 AM

Quote from: justdimin on August 28, 2018, 12:12:40 AM

Quote from: Visteryy on August 26, 2018, 05:13:52 PM

Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

The major factor that I can pinpoint here is more or less like that weak investor factor where a lot of people were trying to get rich overnight, the price skyrocketed with no basis except for everyone trying to get greedy and before you know it, things started changing as the whales dump on the market, little negative news starts driving weak hands out of the market even at loss and then we just are trying to find a bottom now.
Market that is driven based on speculations will always act this way.

There's many reason,for some people bitcoin is illegal if you use bitcoin you'll get arrested by government peoples are scared and they don't touch bitcoins if people stop using it then no one will buy it which case the seller supply will be increase but when no one buy it is demand decrease.

jamids

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Quote from: billygarrison on September 15, 2018, 08:37:33 PM

there are so many causes of falling bitcoin prices, I think those who managed to buy bitcoin at low prices and sell them at high prices and hackers who managed to steal bitcoin on bitcoin mining sites and cryptocurrency markets

Yes, I think those are also included in the reasons why the market plunges. Other reasons would be that those who buy at high prices and seeing the price continue to go lower, they are afraid they would lose more that's why they would decide to just sell their coins and wait for the market to become stable while others would just leave the market permanently seeing that the price may not be able to recover. Those red candles are scary but for those who are in the market for a long time, it would be the opportunity to buy.

Ferry22

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The price of bitcoin continues to fall because people panic so they sell their coins, the more people who sell coins, the greater the supply of bitcoin, while the demand for bitcoin decreases because of the current situation which causes investors to lose interest, even if we want to invest this is time that is very appropriate.

billygarrison

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there are so many causes of falling bitcoin prices, I think those who managed to buy bitcoin at low prices and sell them at high prices and hackers who managed to steal bitcoin on bitcoin mining sites and cryptocurrency markets

Zarfund

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Quote from: noah tall on September 03, 2018, 08:07:00 AM

Quote from: justdimin on August 28, 2018, 12:12:40 AM

Quote from: Visteryy on August 26, 2018, 05:13:52 PM

Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

The major factor that I can pinpoint here is more or less like that weak investor factor where a lot of people were trying to get rich overnight, the price skyrocketed with no basis except for everyone trying to get greedy and before you know it, things started changing as the whales dump on the market, little negative news starts driving weak hands out of the market even at loss and then we just are trying to find a bottom now.
Market that is driven based on speculations will always act this way.

I think whales play a major role in pump and dump of the bitcoins.

noah tall

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Quote from: justdimin on August 28, 2018, 12:12:40 AM

Quote from: Visteryy on August 26, 2018, 05:13:52 PM

Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

The major factor that I can pinpoint here is more or less like that weak investor factor where a lot of people were trying to get rich overnight, the price skyrocketed with no basis except for everyone trying to get greedy and before you know it, things started changing as the whales dump on the market, little negative news starts driving weak hands out of the market even at loss and then we just are trying to find a bottom now.
Market that is driven based on speculations will always act this way.

omonuyak

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The market most follow the way it went up down and of a truth we have to prepare for this. Last year we were saying why is the market going up the way is doing and many were saying then that we should expect a fall.

brotherwood12

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the bad news , also the issues that market being hacked and everyone will make everyone fear to hold bitcoin , that the causes of plunge in bitcoin i think

Ezenwanyi

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The causes are not far fetched.
There is the big market players factor: prices are being manipulated by whales.

Unfounded rumour about government interference.

Negativitity from investors and traders.

Spreading of fud.
The high volatility nature of bitcoin.

OrangeSeller

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Quote from: btc_angela on August 26, 2018, 08:46:59 PM

Quote from: Daseento on August 26, 2018, 07:02:01 PM

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

Right, I remember when a lot of people were paying so much attention as well to futures market, and rather than looking at how it would have actually being about some huge number of manipulators in the space, too much focus was on it with respect to some people even calling moon most of this period.
I know ETF would bring about a lot of institutional investors into the space, but as you said, it would just make the space even more manipulated than it already is.

fianaindriati

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Quote from: VclDm on August 27, 2018, 11:44:28 AM

Nowadays, too many people lose confidence in the cryptographic market, so they have withdrawn usd to invest in other fields, so the number of people leaving the market is quite high.

yes, the current condition is indeed experiencing it like that, because the current situation is getting lower, making that person's trust also decrease. so we don't blame people, because conditions are getting longer like this.

bintangkejoraku

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https://saturn.black

Negative news and dump are the two most influential things with the decline in bitcoin prices. these two things are usually interrelated, if there is negative news there is a high probability that a dump will occur.

RonF

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HODL is the key to wealth

Fiat currency typically falls in value about 5% a year or more. I know friends father used to work for 25-cents per hour in the late 1930's, on which was enough to live - try doing that now.

No fiat currency has ever lasted more than several hundred years and often less. This is a fact. Check the history books for confirmation of this.

Hodl Bitcoin for several years, don't panic. Bitcoin will far outpace any fiat money of any country. Look at history if you need proof of how fiat currency always becomes worth zero if not made of gold or silver.

Nila soru

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Quote from: Lexurdania on August 27, 2018, 08:38:55 PM

In past several months, bitcoin always got negative news and people panic with that news. Bitcoin had hard time in 2018 and not like 2017 when bitcoin price jump to highest price. But right now peoples realize that panic sell is unnecessary and holding bitcoin have more advantages

Asides the news, the plunge is just more of an aftermath of the crazy bullish rally that occurred throughout last year ending, and this is just more like a result of it. The news is just more like an added fuel to the fire that is already about to burn hugely anyway.

Panic selling is never necessary since the market will always recover eventually anyway, and I see no reason why anyone should be so worried about something that sure has a future.

trecore4

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It is just blend of many things all together starting from the FUD creators news, to FOMO news and ending up with the current affairs like SEC decisions etc. These kind of news will coming in the future too and depending upon the intensity of the news whether it is more positive or negative one can say that the fluctuations will also occur in the similar ways only. Checkout any plunge in the past or present and you will see that the news is big influencer of this thing and thus may damage the bitcoin health badly. If you see such news then be prepared to catch the fish.

Aramazdi

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Quote from: sunanbonang on June 12, 2018, 06:03:27 AM

this is because some investors do panic sell and sell bitcoin they have, this makes things worse because it can make bitcoin price down.

it is a trick of trading by seeing a downward trend of big opportunities for large traders who will buy at low prices, and will definitely cause prices to rise again and big business people will get big profits. it is one of the ways traders control prices and play prices sometimes in an incorrect way.

justdimin

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Visteryy on August 26, 2018, 05:13:52 PM

Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

joshuarose

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Many factors influence the decline in bitcoin prices ranging from hackers, bitcoin mining since 2013 and sites that provide bitcoin for free and also people who managed to buy a lot of bitcoin when the price of bitcoin is still $ 150- $ 300 and still and all that has just sold it now so it's quite difficult to restore bitcoin prices because it requires many new investors.

Rhosadah

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maybe this has an impact on global economic issues, some countries are experiencing an economic crisis and weakening of currencies in some countries is the impact of the withdrawal of crypto community assets in countries affected by the economic crisis.

Haji Rambo

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Ane juga tidak menyangka kenapa harga terus menurun semua sulit menebak..bukankah akibat persaingan yg sangat alot atau pasar yg tidak menentu mungkin saja nasib yg belum beruntung.

Lexurdania

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In past several months, bitcoin always got negative news and people panic with that news. Bitcoin had hard time in 2018 and not like 2017 when bitcoin price jump to highest price. But right now peoples realize that panic sell is unnecessary and holding bitcoin have more advantages

mostkey

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Quote from: btc_angela on August 26, 2018, 08:46:59 PM

Quote from: Daseento on August 26, 2018, 07:02:01 PM

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

For current market movements no one knows for sure the true cause and of course this is a lack of demand, it's not easy to encourage people to buy back Bitcoin at a fairly cheap price now, the news isn't too strong to support it all, maybe some people are afraid of ETF decisions that lead to rejection, whereas before prices start pumping back in public enthusiasm awaiting the first ETF's decision, don't expect more for ETFs, just focus on markets that might take time to return to bullrun.

VclDm

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Nowadays, too many people lose confidence in the cryptographic market, so they have withdrawn usd to invest in other fields, so the number of people leaving the market is quite high.

Amokomowo2005

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caused cant be explained but i believe its causing by the fud which is affecting and discouraging more new investors to invest big on cryptocurrency, when new investors come, the price will shoot up.

gabmen

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Quote from: btc_angela on August 26, 2018, 08:46:59 PM

Quote from: Daseento on August 26, 2018, 07:02:01 PM

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

Well i can agree that an approval of the etf this september will likely spell positive news and in a way pull the price up. But i also don't think it's necessary. And a lot probably think so as well since the price didn't really move down after the recent rejection

Indrawan77

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Quote from: Daseento on August 26, 2018, 07:02:01 PM

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

Yeah, but even with some positive news bitcoin still unable to get out from pressure, I think the reason is because a lot of people had hold their bitcoin for a long time, when the price go up a little they will sell it, the only hope to make bitcoin price go up really fast is through ETF, without any big investors or legality from government, it will be hard for bitcoin to go up quickly

btc_angela

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Quote from: Daseento on August 26, 2018, 07:02:01 PM

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

Daseento

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Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

Visteryy

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Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Kemarit

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Quote from: brukva on August 20, 2018, 12:47:43 PM

Bitcoins can be a good substitute for money.

No its not.

Quote from: kangbasir on August 20, 2018, 12:05:24 PM

In my opinion, one of the decreases in bitcoin prices is because hackers who steal bitcoin and seek profits and also because of increasingly stringent government rules, the value of new digital currencies such as bitcoin itself cannot be expected to reach the lowest points in 2018 even almost all Cryptocurrency currencies experienced a significant decline.

It could be one factor but I don't know how much weight in can bring into the table. Its obvious that there might be some manipulation and stringent regulations put by a lot of government globally against crypto. But for me the main reason is that investors and traders evolves as well, they adapt and change strategies and won't simply put their money on a market wherein it remains bearish for almost a year now. So don't be surprise if you will hear people saying that it might be a bull trap or just dead cat bounce because it might be really the case right now.

brukva

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Bitcoins can be a good substitute for money.

kangbasir

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In my opinion, one of the decreases in bitcoin prices is because hackers who steal bitcoin and seek profits and also because of increasingly stringent government rules, the value of new digital currencies such as bitcoin itself cannot be expected to reach the lowest points in 2018 even almost all Cryptocurrency currencies experienced a significant decline.

SunJAB

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Quote from: spongegar on June 12, 2018, 06:27:29 AM

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

Due to the investor's consciousness is not good. Say so for the conditions, but in fact most people want to get rich quick and high profits. Few people can think for the community and those who do it often lose. That is the thing in society that always exists.

skaynet

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Negative news about bitcoin and crypto bans in this country that make crypto fall. then bitcoin is also often hacked so this news really makes the price of BTC drop

talenah kotang

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The cause is of course our own because when prices rise we will sell our bitcoin, even though that is the trick of the popes. when you sell, of course the price will fall, try to be patient and hold your bitcoin.

tintinbongs

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There are lots of causes of continuous plunge in bitcoin is due on indifference persfective .It is difficult to pinpoint an exact reason for the massive slide the cryptocurrency market is experiencing right now, though some analysts are pointing the finger at CoinRail’s recent hack.

dobladonadouble

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The reason is that we should simply hold in to our coins. All things considered, it's quite often in view of the law of supply and demand in the market. The more supply individuals have in the market, the lower the cost is. To the point when individuals offer their coins it adds to the cost going down. On the other hand, the less suppy individuals have in the market, the higher the cost is.

btcluisdiki

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In my opinion, the continuous down trend in the current crypto market could somehow be more supply in the market since many investors are selling due to this bearish market. Another scenario could have been whales manipulation which affects the price value to dip but this trend is just temporary and people sbohld not get panic as this is normally happening in the market.

killerfrost

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This causes a continuous decrease in bitcoin.
1. Bitcoin's liquidity is defined when you can sell BitCoin to a certain extent without affecting the market and not devaluing Bitcoin.
However, even if Bitcoin prices increase over the peak, the liquidity of Bitcoin is not so good.
2. Investors lose interest in bitcoin.

Deubila

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Quote from: susila_bai on June 12, 2018, 05:27:43 AM

The reason is very simple due to all country taking steps to regulate the crypto currency and some country have banned it uses in their country so who ever is in trading is only for short term trading as soon as they get to start profit they start to take it. So the market reacts and the price goes down. Till all country dont regulate fully and start functioning i think bitcoin price wont improve much.

It is also only part of the price decision, as it has many determinants of price. It is possible that the related economic and financial sectors are closely linked. New prices can be driven up or down. It is not the only factors that can hardly affect the financial electronics markets.

Shushale65

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It is infinitely possible to guess, in order to understand the true cause of the fall of bitcoin. Most likely there is no one reason why this happens. The state and major players and newcomers influence the drop of bitcoin.

ss890

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Hacks, Gox dumps, Weka handed people, Panic people, get to know these words very well because that is the reason and very root cause of the whole thing. The plunges that we see is all about that only. The bitcoin is open book, we can see how people react about any situation and instead of making it stable one they actually go beyond the needed reaction and start to panic and make it worst. The factors are many more but what we see, we should at least minimise it to reduce such plunges. But as always I say this is decentralised command of chain and we can do nothing about it.

stayeduptolate

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Quote from: RemarkJohn on June 12, 2018, 04:32:40 AM

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

Plunge in this phase refers to the flactuation and yes I admit this too that there are many and continuous flactuation in the valuation of bitcoin in recent months of this year . Bitcoin is supposed to be very volatile crypto currency whose valuation keeps on flactuating but if look at the sensitivity and votality of bitcoin then we will come to know that these flactuation are very much necessary for the market to be stable so that people can also buy coins at low cost and can sell them at high rates.

aardvark15

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Quote from: RemarkJohn on June 12, 2018, 04:32:40 AM

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

The recent development is the hack of coinrail but I think there is a cumulative affect from various negative news. It also hard for investors to gain confidence in the cryptocurrency markets after a huge crash like we just saw 6 months ago. I think we will need several months of good or neutral news to get new investors to be interested in investing.

spongegar

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Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

kryptqnick

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Quote from: RemarkJohn on June 12, 2018, 04:32:40 AM

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%.

I'm sorry, but how is a $900 drop more that 30% this year? If you were right, bitcoin's price must've been about $2.5k, right? Otherwise such a drop is at best a 15% one. As for the causes of bitcoin still not recovering, I think that is mainly due to the fact that in 2017 serious people really started to notice bitcoin and not always they had good intentions. Cryptocurrencies became a serious threat to contemporary economy and especially banking system. Various governments started making attempts to regulate cryptos and exchanges. Such things are still happening from time to time, causing the panic selling.

sunanbonang

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this is because some investors do panic sell and sell bitcoin they have, this makes things worse because it can make bitcoin price down.

susila_bai

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The reason is very simple due to all country taking steps to regulate the crypto currency and some country have banned it uses in their country so who ever is in trading is only for short term trading as soon as they get to start profit they start to take it. So the market reacts and the price goes down. Till all country dont regulate fully and start functioning i think bitcoin price wont improve much.

First77

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At $8,000 there are more sellers but who will buy Bitcoin at $8,000 ? More sellers and less buyers, the price falls.

Quote from: wongjack on January 06, 2018, 04:44:06 AM

I'm from Malaysia,and I brought 8000 BTC when many years ago(and glad that I still have found back).I'm looking for cash out all the btc I have own now,it is about 100 million usd fund,but I don't think my country market have support that huge of volume,I do my research found that exchanges in Malaysia are really small,big exchanges like only bitfinex and coinbase can support that much of volume,but it can't use their service in Malaysia,and I'm not US citizen.I don't know what to do now.I'm really frustrated knowing I own that much of money but I can't cash out due to my country is not popular with this coin,any suggestion for me? Whoever can help me solve my problem I promise to gave him 50btc after I manage to cash out.A man will keep his word.
——————————
updated: 6.1.2018 4:54pm

what country that can support 100 mil usd withdrawal? I'm actually have thinking about open an US bank account,but I'm not sure whether I can withdrawal that much of fund from exchanges to my bank account or not.I actually don't mind paying tax fees to US or Malaysia gov whatever,I just want to have a cash out plan.

RemarkJohn

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At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

Topic: what are the causes of the continuous plunge in Bitcoin? (Read 1464 times)