Topic: What's causing the dump ? (Read 295 times)
The reason for the fall could be Facebook, Twitter or Google or anything, but, there is no reason. Perhaps, there is a several reasons that we don't know, maybe the governments have found the way to intervene. In my opinion, correcting the situation is not can happen by us, but we should look at future and act accordingly.
There have been many news and FUD in past some months that have collectively lead to a dump. But the major reason is the bulk sell off of Bitcoin by Mt Gox and by the hackers of Japanese exchange Coincheck. The hackers hacked Japanese exchange Coincheck and stole 58 billions of Yen (around 533 millions of USD).Then Coincheck promised to return everything back and then started to pay. But they mentioned that stolen amount is of 400 millions of USD, instead of 533 millions of USD.This exchange can be blamed for BTC dump, because for the last month and half there were transfers from cold wallet of upto 23k BTC (balance was decreased from 60k BTC to 37k BTC).
They are selling in small amounts, but constantly. The recent dump of past two days happened because of this sell off. They are still left with 37k BTC.
If we take 533 millions USD and divide to to average BTC price of 9k$, then it will be 59k BTC and dump could continue.
They are selling in small amounts, but constantly. The recent dump of past two days happened because of this sell off. They are still left with 37k BTC.
If we take 533 millions USD and divide to to average BTC price of 9k$, then it will be 59k BTC and dump could continue.
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OP, the same that caused the dump of the dotcom bubble? But would the reasons "why" matter to you today? They won't, right? All we saw was the crash weeded out the bad companies and left only the good, like Amazon.
Perhaps that is just what we are doing right now, weeding out the crap coins. I can't imagine institutional money getting into shitcoins for the reason that they are shitcoins. They will see through the bs, and I don't think we are gonna experience anything like 2017 ever again. The coming out party is over it seems, and we gotta align our sights in a reasonable and realistic fashion from here on out. Shitcoins are gonna die soon, try not to have too many of those in your portfolios.
I don't see any dump right now. On the contrary, it seems to me that now there are all prerequisites to turn on the pump. But it will only be in a few months. All this time we will be forced to save. Bitcoin does not lose its popularity. the lower the price of bitcoin is now the higher its growth in the future. Profit will only whales and the most patient users.
Actually, many believe that the main reason for this global dump or fall on the market is Google and Facebook banned the crypto ads, and it is true that because of these problems there is a decrease in all currencies, but it is a small decline may be between 2% 3%.
Furthermore, for me, the main reason for this spread crisis, which it is the majority of capitalists who have a large proportion of cryptocurrencies amounts (particularly, Bitcoin) are manipulating with the market, so they certainly sold a large proportion of their money, to buy again when there was a big drop, in order to secure or ensure a big profit in the future.
Furthermore, for me, the main reason for this spread crisis, which it is the majority of capitalists who have a large proportion of cryptocurrencies amounts (particularly, Bitcoin) are manipulating with the market, so they certainly sold a large proportion of their money, to buy again when there was a big drop, in order to secure or ensure a big profit in the future.
What is causing the dump in the value of bitcoin as well as other altcoins ? Is it because of threats and banning from some countries or is it because Facebook has banned the crypto ads and there are rumours that you will and Google will follow the same which might create fear amongst the users ?
Its all of the above as every news that is related to crypto either it is good or bad expect there is a changes in price. News is powerful and all of a sudden whales follow the news so that they can make advantage into it and earn more. 
Its still just adjusting back to a more reasonable price after the crazy pump.
Best answer I've read in this thread so far.
We should start to accept that the rise to $20k per coin was just way too much and therefore a correction was overdue.
And that's what we are seeing now. Buyers and sellers are arguing what a fair, reasonable price for BTC should be.
What is causing the dump in the value of bitcoin as well as other altcoins ? Is it because of threats and banning from some countries or is it because Facebook has banned the crypto ads and there are rumours that you will and Google will follow the same which might create fear amongst the users ?
Bitcoin was overbought during a hype. Its just price correction that we are witnessing here.
I think the day traders are helping to keep the price down. And a lot of people aren't buying because there isn't certainty that the price will rise significantly any time soon. But we'll need to wait a few more weeks to see what the general trend is whether it's upwards or downwards. I think this time it's really hard to predict which. I think it will just hover. So hover, spectacular rise or almighty crash. Who knows this time.
What is causing the dump in the value of bitcoin as well as other altcoins ? Is it because of threats and banning from some countries or is it because Facebook has banned the crypto ads and there are rumours that you will and Google will follow the same which might create fear amongst the users ?
it seems that what makes the price down is because of bad news that attack bitcoin and the politics that interfere in bitcoin world that makes bitcoin prices to collapse hopefully bitcoin can quickly do back up reflection.
Its still just adjusting back to a more reasonable price after the crazy pump.
I don’t agree with you very often but I think you’re right here. In hindsight $19,000 was a ridiculous increase & clearly unsustainable. I don’t think the current price has anything to do with Google, Facebook, Twitter banning ads, it’s just people selling after gaining great profits & not enough FOMO to make the price recover.
The cause of dump is not only because of Fake news ,but also due to the FUD in the market. The value of bitcoin is not control by anyone ,even the U.S president will not the price. It only based on the increased in investor or convention of bitcoin to FIAT.If many had sold their bitcoin this is cause of fall now.
More people selling than buying and to many people "hoping" it will go back up.
It won't go up until it has gone down so far that the vast majority of people have sold out and these forums are filled with utter despair. Have a look at the wall observer thread from August 14 to March 15 for how depressed everyone has to get.
Then and only then can it start to recover. Hope is the enemy, as long as people are "hoping it recovers" it will fall.
It won't go up until it has gone down so far that the vast majority of people have sold out and these forums are filled with utter despair. Have a look at the wall observer thread from August 14 to March 15 for how depressed everyone has to get.
Then and only then can it start to recover. Hope is the enemy, as long as people are "hoping it recovers" it will fall.
OP, the same that caused the dump of the dotcom bubble? But would the reasons "why" matter to you today? They won't, right? All we saw was the crash weeded out the bad companies and left only the good, like Amazon.
What is causing the dump in the value of bitcoin as well as other altcoins ? Is it because of threats and banning from some countries or is it because Facebook has banned the crypto ads and there are rumours that you will and Google will follow the same which might create fear amongst the users ?
Because there are more people tend to sell Bitcoins nowadays rather than buying it?
The threats or regulations itself will surely affect the users of Bitcoin but it would really affect them? since the beginning of Bitcoin there are so many FUD spreading, there and here, I don't think that old users will believe such things so newbies will be the only ones. Fear only works for those are weak and gullible.
Its still just adjusting back to a more reasonable price after the crazy pump.
What is causing the dump in the value of bitcoin as well as other altcoins ? Is it because of threats and banning from some countries or is it because Facebook has banned the crypto ads and there are rumours that you will and Google will follow the same which might create fear amongst the users ?
There has been some FUD about regulation of bitcoin globally with SEC and G20 pretty much coming out and saying that bitcoin needs to be regulated. The potential outcome of such regulation I think has been greatly exaggerated and overreacted by traders. I don't think that Facebook banning ads has much to do with the overall trend of where bitcoin is going at the moment.
Most of it can be simply explained as the "bust" stage of the natural cycle of BTC. Bitcoin had itself a year last year, and that was not sustainable. A lot of people just took their profits at the start of the year, leading to dumps.
I still believe in bitcoin though, don't let this dump distract you from the big picture. Bitcoin still has a lot of potential and a lot of opportunities ahead. Instead of selling now, I would actually look to purchase BTC to hold for the long term as everyone else is selling, especially when price is under $7k.
because bad news and FUD
after bad news all investor panic sell, so bitcoin price and all altcoin down price
in general the holders are panicked because of bad news and FUD, in fact I am also in their position, but I try to avoid panic and not in a hurry to sell it. IMO people who have weak hands like them will only add to the situation getting worse. they should believe in cryptocurrency and not easily influenced by negative news or FUD after bad news all investor panic sell, so bitcoin price and all altcoin down price
all the FUD and market manipulations and dumps have finally done their thing and successfully started the bear market and when the bear market starts you can't just stop it anymore it will last until price reaches a good bottom and that takes a long time.
all these bans are complete nonsense! it was panic dump, nothing else. and the whales are enjoying the trend because they are making a lot of money and at the end of the day they will accumulate a lot of bitcoin and become bigger whales for the next bull run.
all these bans are complete nonsense! it was panic dump, nothing else. and the whales are enjoying the trend because they are making a lot of money and at the end of the day they will accumulate a lot of bitcoin and become bigger whales for the next bull run.
What is causing the dump in the value of bitcoin as well as other altcoins ? Is it because of threats and banning from some countries or is it because Facebook has banned the crypto ads and there are rumours that you will and Google will follow the same which might create fear amongst the users ?
Pretty much all of your points combined.
It's also natural volatility of bitcoin, bitcoin has performed extremely strongly in 2017, the year prior. So what I'm seeing from 2018 isn't really surprising. This dump had to happen sooner or later, and it just happened as soon as 2018 started as well.
Of course, there is also the factor of regulations. Personally it doesn't make a difference for me when investing in bitcoin, but clearly it affects other people's mindsets when they decide to invest in bitcoin.
Right now we're just below $8k, if we can't get up above $8k within the next 2 days, we'll probably be going further down for the moment.
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