China is usually the main cause of the decline from last year until now, this happens because China has the largest bitcoin mining company in the world, and now that it is closed by their country, it causes bitcoin to go down very far.
maybe it's true as you say, china has a big influence in bitcoin, after china closed the company that holds bitcoin, the price of bitcoin began to fall, and there has also been a negative effect of posting on bitcoin lately which makes weak hands afraid to hold bitcoin, but I think this is only temporary, bitcoin will definitely come back up again, we just have to wait and be patient.. 
Topic: What's causing the decline this time? (Read 895 times)
Can anyone really point out what's causing the declination. It's a normal thing when the price rises or falls..but the recent sudden declination is quite alarming. In my opinion I'd say there has been a major imbalance in the market system (the inflow and outflow of the coins).
And it could be something entirely different.
And it could be something entirely different.
This year's ATH blinds us, but look at how horizontal bitcoin has been since May 22, obviously with bands of $ 1000, $ 2000, $ 8000 (+/-) giving a winning line if you know how to use it, bitcoin is not always ATH to be fine, that's why maybe your comment falls more in the trading area, although you don't say much in the OP.
Great point. Just as we were blinded by 20k for a year, we're now thinking of 63k and how far we seem to be from it (50% drop) to realize that the big picture actually didn't change and that the 63k price wasn't ready for its time, a result of extreme speculation and the typical over-momentum from breaking an old ATH.
The causes.that occur.with the decline.in bitcoin are indeed.many and also have several factors.that will.affect the price of bitcoin itself.especially regarding the global stock.market which is.the trigger for the decline.in bitcoin prices.for now, but for us.it has.become commonplace.in the crypto world. and the price will be back to normal in the near future we just hope so
Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?
There hasn’t been any serious decrease or increase as of recent. The price has been quite stable around the $30,000 range. There also have not been any serious event that I would say will lead the price to a fall. It might be like this for long. I’m also not expecting any increase, despite that I have seen some analysts that analyzes another bull run, but I don’t believe that.China is usually the main cause of the decline from last year until now, this happens because China has the largest bitcoin mining company in the world, and now that it is closed by their country, it causes bitcoin to go down very far.
As for China and their closure of bitcoin mining farms, that’s been a while it happened and whatever effect it’s meant to have in the market, I believe it has already done that. So whatever we are seeing now is just a normal up and down movement of the market. It is clear that China is the main reason of the current market decline. After China banned bitcoin mining in their country many miners were forced to sell their bitcoins and close their mining sites.
I don't know how many times china ruined the entired market, i feel like almost every year china do this kind of thing to ruined entire market.
And another reason is ElClownMusk, she so hypocrite and i hope she stop manipulated the market.
I don't know how many times china ruined the entired market, i feel like almost every year china do this kind of thing to ruined entire market.
And another reason is ElClownMusk, she so hypocrite and i hope she stop manipulated the market.
China is not the sole reason. The closure of Bitcoin mines have contributed to the decline in a big way, but some role was played by the hostile actions of the government in the United States. Ever since Joe Biden was elected as the president, and Janet Yellen appointed as the secretary of the treasury, the government attitude towards cryptocurrency in that country have become more confrontational. On top of that, several lawmakers, including Elizabeth Warren and Joe Manchin have become more vocal nowadays.
It is clear that China is the main reason of the current market decline. After China banned bitcoin mining in their country many miners were forced to sell their bitcoins and close their mining sites.
I don't know how many times china ruined the entired market, i feel like almost every year china do this kind of thing to ruined entire market.
And another reason is ElClownMusk, she so hypocrite and i hope she stop manipulated the market.
because of china which banned bitcoin mining, and elon musk, and tesla company which no longer accepts bitcoin, and donal trump who says bitcoin is a scam, and there is also government involvement that posts negative things about bitcoin, and world bank which no longer accepts bitcoin exchange ,, but I think this is only temporary, because we know bitcoin has extra super power, soon maybe bitcoin will rise to a high level.. I don't know how many times china ruined the entired market, i feel like almost every year china do this kind of thing to ruined entire market.
And another reason is ElClownMusk, she so hypocrite and i hope she stop manipulated the market.
It is clear that China is the main reason of the current market decline. After China banned bitcoin mining in their country many miners were forced to sell their bitcoins and close their mining sites.
I don't know how many times china ruined the entired market, i feel like almost every year china do this kind of thing to ruined entire market.
And another reason is ElClownMusk, she so hypocrite and i hope she stop manipulated the market.
I don't know how many times china ruined the entired market, i feel like almost every year china do this kind of thing to ruined entire market.
And another reason is ElClownMusk, she so hypocrite and i hope she stop manipulated the market.
The declined have also coincided with the delayed deadline for tax payments, which could have caused selling pressure as investors looked for cash to off capital gains tax liabilities.
OP:Hi,
In my particular opinion, bitcoin is healthier than ever, I don't know what the nerve or the restlessness is
bitcoin is where perhaps it should have been in the first quarter of the year 2021.
Although some may feel overwhelmed at having gone under $ 30k and "require" bitcoin to reach "unexpected" levels, when this is the most real price it can have today, move back in time to early 2021, as you will would feel with this price after having broken the barrier of $ 20k, great.
This year's ATH blinds us, but look at how horizontal bitcoin has been since May 22, obviously with bands of $ 1000, $ 2000, $ 8000 (+/-) giving a winning line if you know how to use it, bitcoin is not always ATH to be fine, that's why maybe your comment falls more in the trading area, although you don't say much in the OP.
In my particular opinion, bitcoin is healthier than ever, I don't know what the nerve or the restlessness is
bitcoin is where perhaps it should have been in the first quarter of the year 2021. Although some may feel overwhelmed at having gone under $ 30k and "require" bitcoin to reach "unexpected" levels, when this is the most real price it can have today, move back in time to early 2021, as you will would feel with this price after having broken the barrier of $ 20k, great.
This year's ATH blinds us, but look at how horizontal bitcoin has been since May 22, obviously with bands of $ 1000, $ 2000, $ 8000 (+/-) giving a winning line if you know how to use it, bitcoin is not always ATH to be fine, that's why maybe your comment falls more in the trading area, although you don't say much in the OP.
maybe there are many factors that greatly affect the value of hitcoin such as for example many rich people who buy bitcoins in large quantities with the money they currently have, plus there are bans from several countries against bitcoin which will nothing but make the price bitcoin is getting weaker to its lowest point price, but we are very sure this has happened with bitcoin and we are very confident bitcoin will soon recover back to its normal price again
The bear and bull season will come with or without a reason and this time, people are guessing who has to blame but there is none. I mean, the current issue in regards to declining sentiment is found to be normal in the case that I've never heard any rumor from big countries about banning. But what we have heard is the US is making its way to accept Bitcoin and even encourage people to invest in this.https://www.realcryptocurrencyhub.com/the-us-investors-attracting-towards-bitcoin-says-senator-ted-cruz/
To know the market situation we need to read the news. Although there are some digital media that spread FUD towards bitcoin, we also have others with accurate information to know what really happens.
I was also alarmed on July 20, 2021 when bitcoin fell to $ 29,772.66. Take a look at the media where almost all of them reported that the bitcoin mining businesses were leaving China for the USA, Canada and Kazakhstan.
OKAY! I thought this is the reason.
Fortunately, the migration of bitcoin miners did not affect the crypto market that much. In fact it was a good opportunity to buy the dips.
Some might feel depressed like me on the 19th, 20th but on the 21st just 24 hours ago The BTCWord was held and suddenly all change in the crypto market, the price of bitcoin today stands at $ 32,316.38. Prominent advocates such as Jack, Nick Carter among others and Elon Musk participated in the event, which in conclusion was a positive gathering for the bitcoin community.
I was also alarmed on July 20, 2021 when bitcoin fell to $ 29,772.66. Take a look at the media where almost all of them reported that the bitcoin mining businesses were leaving China for the USA, Canada and Kazakhstan.
OKAY! I thought this is the reason.
Fortunately, the migration of bitcoin miners did not affect the crypto market that much. In fact it was a good opportunity to buy the dips.
Quote
According to the Cambridge Center for Alternative Finance (CCAF), China accounted for a 46% share of the industry in April 2021, compared with 75% in September 2019.
The main beneficiaries of the decline appear to be the U.S. and Kazakhstan, according to the CCAF.
https://www.coindesk.com/chinas-bitcoin-mining-share-was-in-decline-even-before-crackdown
The main beneficiaries of the decline appear to be the U.S. and Kazakhstan, according to the CCAF.
https://www.coindesk.com/chinas-bitcoin-mining-share-was-in-decline-even-before-crackdown
Some might feel depressed like me on the 19th, 20th but on the 21st just 24 hours ago The BTCWord was held and suddenly all change in the crypto market, the price of bitcoin today stands at $ 32,316.38. Prominent advocates such as Jack, Nick Carter among others and Elon Musk participated in the event, which in conclusion was a positive gathering for the bitcoin community.
For that decline, I think the main reasons were Elon Musk and Chinese government. Their manipulations caused the market to fall too much. But now, it looks like this decline has ended. Bitcoin price has started to recover and reached $32k.
if only one factor china, maybe the dump will recover quickly but now this dump is due to the pure downturn in the market and the correction that caused it. so that in my opinion no one is to blame at the time of decline because it is pure
It doesn't matter. Don't try to make sense of it. Just use it to get more profit.
We have been used to it already. Maybe there might be a price correction that made bitcoin to dump a little but definitely, it will rise up again.I don't really see these price corretions a big threat for crypto because it is even a good opportunity to place buy orders on the coins you believe in. So just enjoy whatever the market value has to offer. Everything will be back to normal again once majority of the coins will recover.
China and Musk are to be considered the main culprit.
For this two, BTC almost dropped half.
And as musk has a huge followers, so they are diverted to altcoins by himself only.
Moreover as the price went down, so people aren’t talking too much now about BTC.
This is leading currently to the downfall of the coin.
For this two, BTC almost dropped half.
And as musk has a huge followers, so they are diverted to altcoins by himself only.
Moreover as the price went down, so people aren’t talking too much now about BTC.
This is leading currently to the downfall of the coin.
So if you believe Musk is the culprit, are you also hailing him now as a hero for his comments yesterday on BTC? And is he fully and totally responsible for Bitcoin's good rise right now?
If you blame/credit someone, you have to be consistent. Can't pick sides only on one direction of the market:)
maybe there are many factors that greatly affect the value of hitcoin such as for example many rich people who buy bitcoins in large quantities with the money they currently have, plus there are bans from several countries against bitcoin which will nothing but make the price bitcoin is getting weaker to its lowest point price, but we are very sure this has happened with bitcoin and we are very confident bitcoin will soon recover back to its normal price again
Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?
China and Musk are to be considered the main culprit.
For this two, BTC almost dropped half.
And as musk has a huge followers, so they are diverted to altcoins by himself only.
Moreover as the price went down, so people aren’t talking too much now about BTC.
This is leading currently to the downfall of the coin.
China is usually the main cause of the decline from last year until now, this happens because China has the largest bitcoin mining company in the world, and now that it is closed by their country, it causes bitcoin to go down very far.
- I think most of us only hear about the closure of some bitcoin mining factories in China but in reality, we don't have a direct presence in this country and it's all just announced by a few media, and my doubt here is whether these factories have closed or just rumors while these factories are still operating. Just link from the sharp rise of bitcoin like a bubble and need a needle to pierce it, this story will become relatively logical, sometimes here are some fake scenes to create downfall and direct suspicion towards China Sad to See that after many months now Finally Bitcoin stays Below 30k for 2 straight days.
Things that does not happened before even though it drops below 30k for 2 times recently yet climbs back again in a matter of hours.
But this time looks like it will stays for long.
Things that does not happened before even though it drops below 30k for 2 times recently yet climbs back again in a matter of hours.
But this time looks like it will stays for long.
Don't be sad. Be happy that those of us who don't have enough have longer to accumulate. At least, this is how I see it all the time. It's sad not to be holding coins worth 100k but it's even sadder not to even have a single BTC if it reaches that amount:)
So keep stacking at these low prices while waiting for the desired target. Keep our spirits up everyone:)
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