Topic: What caused Bitcoin goes down very hard recently? - page 6. (Read 911 times)

I think so too. Bad news has provoked such a situation in the crypto-currency market. but it is worth paying attention to the fact that the ten largest bitcoins of wallets have only been enriched during the market correction

I think this is the result of the panic in the cryptocurrency market, because there are several countries that regulate cryptocurrencies.

I agree. The facebook ban in ads was actually a good thing since there have been an increase in suspicious icos all over social media platforms trying to draw people's money in. The korean regulation may have contributed to the drop since, like the indian ban, it could have been misinterpreted by media reports as an actual ban

This is because of south korea FUD.

Many people say it's because Asian countries came about COINS caused by the bad news, China banned the currency trading, South Korea closed the currency exchange, etc., I'm not sure what is the reason.

The Facebook ICO Ads prohibition couldn't have been a factor in the value going down and the South Koreans wanted all traders to use their official name on the exchanges so it also had little to no impact but China banning Bitcoin did a major one on BTC and it would have continued it freefall had the US senate hearing decided to ban bitcoin but thankfully it was averted.

For me the bitcoin faaling down It's because many Investors dump their bitcoin for their needs.The way that they sell their bitcoin profits was this ia the main cause for lwoering the value.It is not only for bitcoin and also altcoins was falling It's value.

There are many factors that affect the price of bitcoin. The main reason I think the most important reason is that the bad news and rumors from Asia have caused people panic. As a result, people have sold bitcoin because they have lost their mind. I believe the price of bitcoin will rise again .

Bitcoin price depreciate resently due to decline investor into the system, and low demand for crytocurrency bitcoin, the  high  ⚡️ the demand the high  ⚡️ the price, vi's versa.

We can not deny that the main cause of the drastic drop in bitcoin prices a few weeks ago is related to bad news from some countries like China and Korea. But, in the last week chart of bitcoin price movement has shaped uptrend and I believe that bitcoin price in the future will increase and certainly accompanied by various corrections.

The price will eventually increase so for now, investing for it and holding it will be more necessary. Just believe and keep going, actually I do not really know what it is market value but most likely it has something to do with demand in the market. But certainly, this is normal and only temporary

I suppose it is almost evident. The bans of China and some vague ideas coming from the government of South Korea, rumors about crypto restriction in India, ICO ads prohibition on Facebook has a great negative effect.

Bitcoins has reached a whole new level as it increased from $900 to astonishing $19k and this increase shows how volatile and unstable bitcoin is and whenever bitcoins gets bullish it always ends with a drop as to get kind of stable or corrected with low prices.And after the correction many people panic sell which made bitcoins fall more.But this drop wasn't that bad as it created opportunity to invest more in bitcoins as it will rise soon.

In my opinion, BTC price went down hard because of those people who have bought out of greed during ATH in December 2017 without them realizing that the whales are slowly dumping and distributing their BTC to these newbies, selling to them at a higher price. FUDs came out like wildfire causing the newbies to panic sell fearing losses. At present, the whales, are at it again; accumulating BTC and buying discreetly from those who are selling at a lower price of BTC from the newbies. The next few months could possibly be an uptrend when the whales produce some waves.

There is a combination of many factors that caused the previous fall of Bitcoin and the other coins. The main one was the bad news coming from the Asian region.

Yeah, looks like that but it'll be not easy for governments to control bitcoin in full.

Well I guess bitcoin prices are affected by many reasons such as government issues, its demand and supply and also the media.because bitcoins are on top of the market for the past years the government tends to make a way to control it, many are investing in bitcoins that's why there's also a problem in supply vs demand. and also the media who has the access in everything could give an impression to the investors that can affect to the prices.

For me bitcoin is good but it is goes down now a days because of the the competitors in the market People are now using the altcoin for business profit and for the investment and trading now they have judged that Ethereum is good to make investment in the altcoin because now the people are withdrawing their cash so that's why they have sold their bitcoin due to which the bitcoin supply is high in the market which effect the price and the buyers are less as compared to the sellers so we can say that the price fall because of this.

I believe that in the last quarter of the last year we have experienced massive price rally and the investors who bought before that rally understood that this is something unusual and it will definitely bring Bitcoin price down. They started cashing out their Bitcoins when Bitcoin was reaching new all-time high levels that resulted in the commencement of correction process. However, I appreciate the correction because it not only helps Bitcoin to stabilize the price but also to grow in the long run.

https://qz.com/1200204/bitcoin-regulation-cftc-and-sec-weigh-in-on-crypto-oversight-at-us-senate-hearing/

It seems that, in short, from the US, at least, (we can address Asia after);

- The SEC is going after ICOs = Clayton (head of SEC) says every ICO he has seen has been a securities offering. The problem is, none of them has registered as offerings with the SEC. “ICOs that are securities offerings, we should regulate them like we regulate securities offerings, end of story,” he said.
- The SEC is going after lawyers and accountants who enable illegal ICOs = “A note for professionals in these markets: Those who engage in semantic gymnastics and elaborate structuring exercises…are squarely in the cross-hairs of our enforcement division,” Clayton said.
- But some ICOs, like those conducted with a “SAFT” agreement, are probably safe = "This includes some of the biggest offerings of last year, like Filecoin, with marquee investors like Union Square Ventures. “I don’t think it necessarily follows that the SAFT is within the SEC’s sights,” said Preston Byrne, a structured-finance lawyer and a fellow at the Adam Smith Institute. Byrne has been a major critic of ICOs."
- The SEC draws a distinction between “pure cryptocurrencies” and ICOs = It’s not entirely clear what that distinction might be. But Clayton said ICOs should be regulated like securities offerings, without mentioning the regulatory status of “pure cryptocurrencies.”
- US Congress could give the SEC or CFTC more powers to oversee cryptocurrency exchanges = “I think we may need [additional legislative authority], I think we may need it,” Clayton said.
-The FBI is assisting = The FBI has recently seconded agents to the CFTC to analyze transactions in the bitcoin futures and spot markets to detect signs of terrorist financing and evasion of sanctions by countries like North Korea, Giancarlo said. The oversight might explain the recent bitcoin price crash. Said Giancarlo, “Word is getting out that we will go after misconduct, I think you’re seeing it in the price, and it’s an important step.”

^^ this/these statements hint at more regulation in the USA, giving cryptocurrency, or whatever it gets deemed in the future, much more viability in the long-run, not other way you can interpret direct quotes from the hearing today... so, yeah, while highly volatile because of recent Asiatic activity, I think it's safe to say, we're moving forward with it, regardless, in one way or another on a global scale.

oh, and this gem, which I don't quite understand;

- Don’t expect a bitcoin ETF any time soon = Clayton said the fact that exchange-traded funds (ETFs) are aimed at long-only retail investors, combined with issues concerning price discovery, custody, and volatility, mean that the regulator isn’t comfortable with green-lighting any applications yet. The crypto industry believes the hearing went well. Both Giancarlo and Clayton talked up the potential of “distributed ledger technology,” although Giancarlo noted that there would be no blockchain without bitcoin. The technology has “enormous potential,” Giancarlo said. Jerry Brito, the executive director of Coin Center, a blockchain-focused think tank in Washington DC, said the hearing showed that lawmakers want to fight crypto frauds and scams while letting Americans exercise a right to own cryptocurrencies. One prominent lawyer, who advises corporations on cryptocurrency matters, judged the SEC chief’s comments to be “neutral” while assessing the CFTC chief’s remarks as “positive.” Crypto is turning out to be the rare industry where regulation is welcomed rather than opposed.

...because of this recent article (which already dictates that exists an American ETF).

https://www.theglobeandmail.com/globe-investor/funds-and-etfs/etfs/osc-approves-canadas-first-blockchain-etf/article37828183/

Regardless of that which, also, signifies the strength and confidence in block-chain technology and btc (hello from Canada).

So, I'd say it's neat to see how the USA/CND governments are starting to embrace it, in some hopes of regulation, but, it's even weirder how those that think this (btc, block-chain technology) is philosophically about decentralization also seem to want some form of regulation... I know that is getting off topic, so, let me end with;

A mix of the Asiatic news, the panic selling and likely a hint of market manipulation (some might call it capitalizing on panic selling and is completely legal), but, it's definitely NOT any-one factor.

I think (in my opinion) this was a good and necessary market correction so the experts, miners, owners, traders and consumers can continue to solidify the alt-coin eco-system, the exchanges and the future of BTC and block-chain technology while slowly pushing out the fraudulent aspect that has been so rampart (I myself lost 4 bitcoin in MtGox back in 2012).