Why bitcoin price is currently falling?

BitcoinsGreat

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Quote from: unamis76 on September 04, 2017, 09:26:24 AM

It falls because people sell Cheesy

It's most likely falling because it reached a round number (5000) and many people use round numbers to cash out. Besides, after the recent rise, a correction was due... So everything is following its "natural" course. I don't really think the ICO situation played a role.

I don't think there are books on the subject.

More importantly it is selling by few people and followed by masses or rather its the panic and fud which created people to sell. But then people buy a lot too and bitcoin reaches so high with days, so there is always a time when there is a little awkward news and sell panic will show up.

hawkins

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well, many things can cause bitcoin prices to fall. like yesterday. I think it is influenced by china. but, now it is back to normal, although many altcoin have not returned to their original price. well, there could be panic selling. the bitcoin price drops depending on the circumstances.

albertvert

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Quote from: EdenHazard on September 05, 2017, 09:44:38 AM

Quote from: bajing on September 05, 2017, 08:50:31 AM

Quote from: minthit on September 04, 2017, 09:21:55 AM

Hi guys. About current fall in bitcoin price. Is that because China banned the ICOs? If so, why did it rise before that? Can you guys please recommend some books to read which explains about the factors influencing bitcoin price? Thanks in advance

No, isn't because china banned the ICO. the price fall because some people has sell their coin for take a profit, no more reason for it. Maybe you always see bitcoin price on china market always below from other market but it can not be used as a reference to make a prediction.

a lot of factors actually , and the ICO ban could be one of the factor. a lot of people believe that it is the reason why bitcoin falling , but there is another reason too and it was about the high price , there some old bitcoin address moved and believed looking to sell them all.

an early adopter seems interested to sell their bitcoin now .

Ya some what right.May be due to China ICO fall the bitcoin price may reduce. It also due to the old bitcoin sold bulky for the profit. If they have hold lot of bitcoin for long means they forced to sell when the price is high.For the profit you must sell when the price is higher. It may again the price will change.

Netnox

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Quote from: Deborah Christine on September 05, 2017, 08:41:16 AM

I think because there is issue that ico will be banned in China so many investors sell their bitcoin and make the price is fall.
But im sure that its just a moment. Bitcoin can up again

A lot of people who purchased Bitcoins in mid-July for sub-2000 levels are selling all or part of their coins and booking profit. A major correction is due, but even in this occasion, the decline is not very sharp. A reason for that may be continuing high demand from the investors. Right now, the demand outstrips supply by a good margin.

EdenHazard

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Quote from: bajing on September 05, 2017, 08:50:31 AM

Quote from: minthit on September 04, 2017, 09:21:55 AM

Hi guys. About current fall in bitcoin price. Is that because China banned the ICOs? If so, why did it rise before that? Can you guys please recommend some books to read which explains about the factors influencing bitcoin price? Thanks in advance

No, isn't because china banned the ICO. the price fall because some people has sell their coin for take a profit, no more reason for it. Maybe you always see bitcoin price on china market always below from other market but it can not be used as a reference to make a prediction.

a lot of factors actually , and the ICO ban could be one of the factor. a lot of people believe that it is the reason why bitcoin falling , but there is another reason too and it was about the high price , there some old bitcoin address moved and believed looking to sell them all.

an early adopter seems interested to sell their bitcoin now .

bitterguy28

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Quote from: minthit on September 04, 2017, 09:21:55 AM

Hi guys. About current fall in bitcoin price. Is that because China banned the ICOs? If so, why did it rise before that? Can you guys please recommend some books to read which explains about the factors influencing bitcoin price? Thanks in advance

i think the bitcoin price are not affected about the ICO china banned its only an issue i don't know that is true, maybe now bitcoin currently because of income another hard fork, and again i believe the bitcoin goes uprise again.

bajing

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Quote from: minthit on September 04, 2017, 09:21:55 AM

Hi guys. About current fall in bitcoin price. Is that because China banned the ICOs? If so, why did it rise before that? Can you guys please recommend some books to read which explains about the factors influencing bitcoin price? Thanks in advance

No, isn't because china banned the ICO. the price fall because some people has sell their coin for take a profit, no more reason for it. Maybe you always see bitcoin price on china market always below from other market but it can not be used as a reference to make a prediction.

Deborah Christine

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I think because there is issue that ico will be banned in China so many investors sell their bitcoin and make the price is fall.
But im sure that its just a moment. Bitcoin can up again

Proton2233

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I think that the statement of China could allow speculators to create market panic and buy bitcoins at low prices. I have a question why do you say that the price drops. Have you forgotten that before this price is increased by several thousand dollars. It may be an ordinary correction.

Bagaji

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In my own understanding I attached the recent decline in the market value of Bitcoin to the fources of demand and supply, which is always the significant factors that affects the upward and downward trend of Bitcoin. Except on rare occasions that fundamental events affect its value. Just as you mention the events in China.

xypos

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Quote from: minthit on September 04, 2017, 09:21:55 AM

Hi guys. About current fall in bitcoin price. Is that because China banned the ICOs? If so, why did it rise before that? Can you guys please recommend some books to read which explains about the factors influencing bitcoin price? Thanks in advance

The rise was because of hype that was generated due to media attention to bitcoin, and that was initially because of bitcoin's price skyrocketing. So the rise in bitcoin's price is actually sort of a positive feedback loop that involves bitcoin price and media coverage.

Nothing to do with China banning ICOs. Reason it fell so quickly was because that China essentially out of the blue decided to ban ICOs without prewarnings. These things can't be taught in books because they can't be known before the actual announcement gets released.

I don't think that you need to worry about the fall too much though. BTC is comfortably rising up once again, and i think we shall make a near full recover soon.

xuan87

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The rise got nothing to do with china banning, china banning was the one that caused the price falled down, people are afraid the government is going to take the next precaution step by banning all coin so there was a panic sell and this situation caused the traders to hold their transactions, I think you can read this online, there is no book written this kind of incident yet, but this situation will recover again just give it some times

giveen

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This was just a sell of btc has reached it's highest mark but because the price has increased by a big margin the fall would occur. If you check fast whenever the price increased unexpectedly fast there has been a fall though this might be the biggest fall of all time just wait for a week the market will slowly start recovering.

DrGuns4Hands

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It's normal that bitcoin price is falling because bitcoin is popular for its volatility . bitcoin is a decentralized currency that's the reason why bitcoin price is randomly rising and falling. it depends on the demand . if the demand of bitcoin is high. bitcoin price will rise too . but when bitcoin users cash out their bitcoin mostly bitcoin price used to fall. panic selling cause bitcoin price to fall.

777Bitcoin

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Those replies at the top of me and before they have a point, after it reach around 5000$ this past few days many have sold they're bitcoin and their might be a huge numbers of bitcoin holders that do it the same time. So it's natural for bitcoin to fall its value and in that way many will buy back again in no time. And then it will be increasing again that is the cycle of bitcoin. That's how trading works.

minthit

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So, there's not a book about the prices of bitcoin. I read some articles about previous bitcoin crashes. China's decision seems to have an influence on the price. But, most spectators agree that price is already falling even before their announcement. By announcing at the right time, they can show their role in cryptocurrency. In other words, cryptocurrency can be the ground where governments do their power play. In addition to crypto's genuine potential, it will be no wonder, bankers will soon totally dive into crypto world. Still, the influencing factors of the price are unclear. I think buying and selling volumes explain much better.
P.S the thing about round number noted.

bitcoindev2014

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the btc price down due to China banned the ICOs?

Haunebu

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Chinese government have the power to create positive and negative swings in the crypto-market as we observed in recent times. Hopefully, they will embrace the crypto world soon which could trigger a bullish market soon.

QFT

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Cheap in relation to the ATH maybe, but you can hardly call it cheap when you look at the swings and rise it went through already in a short period of time.

Halcyon Days

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I agree, people are cashing out.
However, every drop is also a opportunity to buy the coin for a cheap price. I wonder, what the lower limit is and how long the "fall" will last. Maybe, it's just a small drop within the bullish way up. Chart does still look ok.

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