What is the cause of the market downturn? - page 6.

randyshan

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Quote from: BlackWidow on January 17, 2018, 08:01:56 AM

well, there was news that want to shut down exchanges in China , but this is usually the actions of men with big money . Who want to purchase BTC lower

Exactly, China already shut down exchanges last year. and also Korea just want Exchanges to do strict KYC procedure. The news are exaggerated too much since the people with big money want to buy coins as low as possible.

MaitoMaito

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The news from China and S.Korean make it happen. Two pillars that can change the crypto a lot.

Svelto

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The China and Korea news play a part in this price decrease. The market cap decrease from 800m to 500m. Some people are panic selling, there is scam coin going on. But next month, everyone will forget about what happened and the bull continue.

Ridwan Fauzi

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Now, I just thinking and feeling like a fool when talking that bitcoin prices down just due to China and Korea will ban bitcoin, which I feel it wouldn't be possible because Bitcoin is not centred by the country. Despite if they will ban bitcoin, they just can be limited to local exchanges only, and that can certainly be overcome by various ways to discover new bitcoin trading. Well, I just think there are manipulators that have a lot of bitcoin and they sell it and buy again when the price low.

engin978

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This is just because of Chinese new year...
they are just realizating their money...
In 1 week 10 days I think we will see green candles...

ichsan ardi

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Quote from: alian17 on January 17, 2018, 07:03:47 AM

Why is there such a downturn in the market? The South Korean market is the cause or the other reason?

if u have follow market 3 or 4 years ago, u will think that its just a normal activity. no need to worry about it. it will be normal and better very soon.

Niflore

newbie

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Rumours to ban crypto trading in China and South Korea. Then we have the bitconnect major scam. Moreover, there are a lot of people who bought from very low levels and are staying on huge profits, so when there is a major sell off, some people are capitalising on their gains. Last, but not least some of the major exchanges have currently suspended all new registration, so there is no fresh money coming in.

HERMESH KAUR

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As far as the matter of transaction activity is concerned, it all depends upon the demand and supply. it seems that market will improve very soon.

rezurect

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Quote from: BeruchN on January 17, 2018, 10:12:34 AM

Quote from: cheezcarls on January 17, 2018, 10:10:12 AM

To be honest, I have mixed emotions right now. There's a part of me that I'm totally scared and hit the "Dump" button, but there's another part of me that says "Hold on, believe it will recover". It's not the first time that we are experiencing like this.

Last December, we're also experiencing a major downfall due to holidays. From an all-time high of $20k, it even dropped to $10k. However, it recovered so quickly and stabilizes between $15k to $17k.

Now it trades below $10k, so a lot of newbies are being manipulated once again by whales to dump their coins/tokens, to make room for them to rebuy and increase their portfolio in that specific asset.

Also, expect another crash when the Lunar New Year comes February 16. There will be lots of dumpers to celebrate the Chinese New Year, so we will prepare for that too.

So basically China is to blame for everything? Grin

But yeah, that's a good point about the Chinese New Year, will keep that in mind.

I've read the news about south korea denying the crypto ban. But how about China? Have they confirmed or denied anything?

BeruchN

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Quote from: cheezcarls on January 17, 2018, 10:10:12 AM

To be honest, I have mixed emotions right now. There's a part of me that I'm totally scared and hit the "Dump" button, but there's another part of me that says "Hold on, believe it will recover". It's not the first time that we are experiencing like this.

Last December, we're also experiencing a major downfall due to holidays. From an all-time high of $20k, it even dropped to $10k. However, it recovered so quickly and stabilizes between $15k to $17k.

Now it trades below $10k, so a lot of newbies are being manipulated once again by whales to dump their coins/tokens, to make room for them to rebuy and increase their portfolio in that specific asset.

Also, expect another crash when the Lunar New Year comes February 16. There will be lots of dumpers to celebrate the Chinese New Year, so we will prepare for that too.

So basically China is to blame for everything? Grin

But yeah, that's a good point about the Chinese New Year, will keep that in mind.

cheezcarls

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To be honest, I have mixed emotions right now. There's a part of me that I'm totally scared and hit the "Dump" button, but there's another part of me that says "Hold on, believe it will recover". It's not the first time that we are experiencing like this.

Last December, we're also experiencing a major downfall due to holidays. From an all-time high of $20k, it even dropped to $10k. However, it recovered so quickly and stabilizes between $15k to $17k.

Now it trades below $10k, so a lot of newbies are being manipulated once again by whales to dump their coins/tokens, to make room for them to rebuy and increase their portfolio in that specific asset.

Also, expect another crash when the Lunar New Year comes February 16. There will be lots of dumpers to celebrate the Chinese New Year, so we will prepare for that too.

Anita1873

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There are two bad news in last two days simultaneously and it make huge bearish impression on whole crypto market and it will take 10 to 15 days to recover from this hangover.

slaman29

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Quote from: prince05 on January 17, 2018, 07:44:16 AM

I Saw in the news the Korea is shutting their bitcoins. This could be the reason why BTC prices are experiencing a dump, As we all know Korea also is a Major player with cryptocurrency. Because of this people are panicking to sell their coins before it is too late. but for me it is an opportunity to buy more coins while prices are down as I still see a bright future for cryptocurrency.

You saw the wrong news I guess. South Korea is restricting Bitcoin (and cryptocurrency) but we have known it for many months. And the government keeps clarifying that this isn't a ban, just a regulatory move. I think they are doing what they can to protect their citizens, and soon will follow in the footsteps of Japan. There was a lot of bad news there due to scammers last year. So crypto has a bad name there. Hacks, scams, fake Bitcoin forks.

People panic as usual. That let's us buy in cheap, so no complaints.

Nukleo

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The reasons for the fall are seasonal, fundamental factors. This is nothing more than trying to skillfully manipulate the market and try to lower the price of Bitcoin as low as possible, in order to purchase at a more favorable price before the upcoming jump.

liuqi

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Quote from: alian17 on January 17, 2018, 07:03:47 AM

Why is there such a downturn in the market? The South Korean market is the cause or the other reason?

Everyone blame some reason in Bitcoin dumping. I think main problem is Bitcoin circulation is reduce in the crypto market. This also create a issues in market and trading also banned in Korea and China. These both problems are created in current market. But everything should be normal in future. This is one kind of reason in down in the crypto market.

olya_n

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Quote from: KTPU777 on January 17, 2018, 07:40:03 AM

The reason for the decline in the market is the most bonal - after a good growth, a good correction takes place. This is the standard situation for the crypto currency market. So do not worry. Soon everything will grow again in value.

I agree with you completely. Do not panic. You do not need to sell your coins at a low price. Soon the price will start to grow.

tomahawk9

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Quote from: alian17 on January 17, 2018, 07:03:47 AM

Why is there such a downturn in the market? The South Korean market is the cause or the other reason?

South Korea has nothing to do with the drop.
Nobody can tell you the exact reason of the downtrend, but we can speculate that the drop was caused by a combination of: news/headlines filled with FUD articles, panic sell, china fud, a lot of rumours in social media = FUD, a correction in the market after the bull run, the bitconnect scam, whale groups manipulating the market, etc etc.
Just another day in the wild west.

teilwalL05

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This downtrend had many reason behind it, Do we really think that it is because of the banning of bitcoin in South Korea alone, There are still South Koreans that I think still using bitcoin but they are selling it to other countries right now or they are buying bitcoin in other countries now because the transaction is ban in their country, Well Maybe in my opinion there are manipulators that are doing this and wants to buy cheaper bitcoin right now.

imjustp

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Many people will give you reasons but the fact of the matter is it is probably a combination of them all and it is something that happens on a yearly basis. It could just be a way of the blockchain weining out those who do not truly believe in the technology.

BTCwin1

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The bull run has been so long, but China intends to further regulate the encryption money market, which could be the trigger for a sharp fall.

Topic: What is the cause of the market downturn? - page 6. (Read 744 times)