People ignore one major contributor as to why the price has been falling.
Tether took 100 million USDT out of circulation around the time the price was +$8000 and they have taken another 90 million out of circulation just before the drop to below $7300.
It's not really a positive sign and this will definitely have some more impact on the price if they keep taking USDT out of circulation. It basically means that money (regardless of whether or not Tether is actually backed) is leaving the market instead of entering, which is never a good thing. We'll see where it ends but it seems that without an ETF approval things will start to get really challenging for the short term market.
Topic: Why again the prices were falling? - page 5. (Read 661 times)
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
I think bitcoin prices went up because people were expecting the ETF would increase the prices but after the G20 and after we kinda figured out that EFT is not going to be confirmed it was easy to assume there was no new news that would increase the price.Also, its more like a sheep following the other sheep kind of deal, when someone goes up the others follow and when they go right everyone follows, so when market goes up everyone buys, when market goes down everyone sells, no one really just waits it out aside from couple of few people. Hence I think the reason why it is going down is that it went down a bit but than everyone else followed with panic and they started to sell everything which caused a storm of people selling.
It is not just 8% it is more than 10% so we can't consider this as normal fluctuation there maybe some reason behind it,that is what I want to found out.As others saying the ETF approval and the rejection may caused these so we will go back to $6000 that is what the price we had month before.
Anyways there is no exact reason for this price decrease. Removed that ETF thing as one of the main reasons because it's not. Maybe at small percentage but the rejection just stopped the bull hype. Also how come we will know the purpose of those whales why they sold "if ever". There's no proof we can take that they really dumped.
It is not easy to watch how price is going down without any logical explanation, but it is very nice to see how price can go up 1000$ just in one hour. Large volatility is actually a trademark of BTC, ups&downs can happen anytime for whatever reason - bad or good news, hack of exchange, some whale who has decided to sell a larger amount of BTC in order to buy new Lambo or luxury house...
Regarding ETF rejection, it was one from Winklevoss twins which actually did not have the chance, but the ETF from CBOE/VanEck SolidX Bitcoin Trust is still under SEC consideration. So it is wrong to think that price is going down because of that irrelevant rejected ETF, there is some chance that SEC accept ETF this month or to postpone the decision for September or December of this year.
Another thing could be capital outflows at the end of Q2 as people start sending money back into their businesses and whatnot. Sometimes people will hide extra income and then shift it from one asset to another, and bitcoin is one more way to do that.
Also like mentioned above, hype plays a major role here too. There was too much excitement about the ETF and it went up really quickly. I think that it will correct and go sideways for a bit longer before finding another good reason to go up again. The 7300 level is pretty good support by the looks of it.
Also like mentioned above, hype plays a major role here too. There was too much excitement about the ETF and it went up really quickly. I think that it will correct and go sideways for a bit longer before finding another good reason to go up again. The 7300 level is pretty good support by the looks of it.
the market is moving in an uncertain and unstable manner. investors are upset. they are afraid. many people have been hurting since January. A lot of people expect movement from the market. So she is not investing. so supply-demand balance is very bad.
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
These has been always the behaviour of the market for several monthsfor, what's new?
Why you didn't do your homework in understanding the risks the moment you buy bitcoin. As you mentioned you entered because you "thought" that the bull run will now start. Price fall is price of the risks and you must understand that.
We are the one who must to adjust rather than the market will adjust for us.
You are worried so it means you don't fully understand the risks. Instead of worrying, try to make up some strategy how to deal on it. If you are eyeing for long term goals and your purpose is "just to hold" then you can disregard the price movement for now and just sit back and relax.
Anyways there is no exact reason for this price decrease. Removed that ETF thing as one of the main reasons because it's not. Maybe at small percentage but the rejection just stopped the bull hype. Also how come we will know the purpose of those whales why they sold "if ever". There's no proof we can take that they really dumped.
If it will go back to $6,000 then so be it. It's now up to you to make an analyzation on what things should you do, minimize the loss or still hold.
If you bought bitcoin just recently don't ever expect that you can get profit in just short period of time. It's not how things works. Or if you are really worried by now and don't know what to do and let's say Im in the same situation as yours then I will hold. I say this to minimize your worries. Up to you to follow.
I think there's still a lot of fear in the market that's creating downwards pressure on the price. We've had so many 'false starts' this year when many thought the price would finally recover and then it fell to new lows. Now traders are very careful knowing that this could (and did) end up happening again.
But we must remember this is only very short term, things could well end up much better towards the end of the year and beyond.
But we must remember this is only very short term, things could well end up much better towards the end of the year and beyond.
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
These has been always the behaviour of the market for several monthsfor, what's new?
Why you didn't do your homework in understanding the risks the moment you buy bitcoin. As you mentioned you entered because you "thought" that the bull run will now start. Price fall is price of the risks and you must understand that.
We are the one who must to adjust rather than the market will adjust for us.
you can't find any reason for the drop because a small drop doesn't really need a reason. they happen in any market and they are called fluctuations. going from $8000 to $7300 is just a 8% drop, not a big deal and that took a couple of days. and we have not yet broken any major buy support so that is another reason for this not being a big deal.
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
These has been always the behaviour of the market for several monthsfor, what's new?
Why you didn't do your homework in understanding the risks the moment you buy bitcoin. As you mentioned you entered because you "thought" that the bull run will now start. Price fall is price of the risks and you must understand that.
We are the one who must to adjust rather than the market will adjust for us.
you can't find any reason for the drop because a small drop doesn't really need a reason. they happen in any market and they are called fluctuations. going from $8000 to $7300 is just a 8% drop, not a big deal and that took a couple of days. and we have not yet broken any major buy support so that is another reason for this not being a big deal.
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
These has been always the behaviour of the market for several monthsfor, what's new?
Why you didn't do your homework in understanding the risks the moment you buy bitcoin. As you mentioned you entered because you "thought" that the bull run will now start. Price fall is price of the risks and you must understand that.
We are the one who must to adjust rather than the market will adjust for us.
Bitcoin went up due to 'ETF rumour' and why the price declined ?
there are many factors that can determine it,for example ;
peoples are skeptical about that listing,because they know the fact that it's totally unstable compared to any other assets,so because of that the price could go up and down at any time and people could lose or gain a lot because of it.
(people bought it and shilling it,after it went up they took the profit).
another one is,retracement.
if we want to make another movement,we need to have a healthy retracement because PUMP = PRESSURE.
we need to stabilize its foot before another breakout,it's totally pointless to push the price up but it can not stay on those level for a long time.
if people keeps pushing it up without a healthy retracement,the price will be declined a lot and it will cause a huge panic sell on the market.
in the end it might affect Bitcoin future.
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
No one will know when it will take upward again, maybe the reason why bitcoin is falling again is it because some investors who already earned, sell their bitcoin immediately, so they will not going to lose a lot just like what happens to others who invested at $18k the lose more than 50% of their capital. Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
These has been always the behaviour of the market for several monthsfor, what's new?
Why you didn't do your homework in understanding the risks the moment you buy bitcoin. As you mentioned you entered because you "thought" that the bull run will now start. Price fall is price of the risks and you must understand that.
We are the one who must to adjust rather than the market will adjust for us.
The current year is characterized by the difficulties of becoming, the emergence of uncertain investors, the ongoing attempts by regulators to keep pace with rapid changes and the gradual improvement of infrastructure. I think bitcoin is currently experiencing short-term corrective movements before entering into another protracted bullish trend. It is possible that the recent deviation of bitcoin may affect short-term correction, which should help the market to find more stability at lower price levels.
Along with the decline of bitcoin, other digital currencies also experienced a decline. Etherum, the second largest digital currency after bitcoin, fell 10 percent to US $ 472.99 Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
These has been always the behaviour of the market for several monthsfor, what's new?
Why you didn't do your homework in understanding the risks the moment you buy bitcoin. As you mentioned you entered because you "thought" that the bull run will now start. Price fall is price of the risks and you must understand that.
We are the one who must to adjust rather than the market will adjust for us.
The current year is characterized by the difficulties of becoming, the emergence of uncertain investors, the ongoing attempts by regulators to keep pace with rapid changes and the gradual improvement of infrastructure. I think bitcoin is currently experiencing short-term corrective movements before entering into another protracted bullish trend. It is possible that the recent deviation of bitcoin may affect short-term correction, which should help the market to find more stability at lower price levels.
i think this is mainly the correction of the super hyped up ETF's FOMO buy combined with a lot of manipulative dumps at $8000 to push the price lower which succeeded. and when that was broken the market reacted to that drop and continued on a downtrend.
it still isn't big so i wouldn't worry about it unless we start seeing $6k again and try testing the bottom.
it still isn't big so i wouldn't worry about it unless we start seeing $6k again and try testing the bottom.
Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?
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