I don't believe a the ICO news had anything to do with Bitcoin selloff. If you see a connection then please show us your reasoning.
IMO the price has grown by too much in a very short period of time and there had to be a correction. We had one not long ago and the price has recovered and reached a new ATH, which was followed by another selloff right before $5000, a nice round number. Why would people choose exactly $5000 to sell? If it were to be influenced by the news from China a dump would begin at some random price. $5000 proves it was traders taking their profit, nothing to worry about.
I bet we'll follow the pattern of the previous correction and recover within 2 weeks.
Topic: Why bitcoin price is currently falling? - page 2. (Read 2182 times)
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 answer is very simple, it's the fud which is created and then the people are panicked that they will lose the money in bitcoins since China was the major driving force of bitcoins. But when the panic selling is over the bitcoin price will recover pretty easily. 
It's falling for diferent reasons like it climbed to $5k too fast without testing any support. But the most important reason is because the trollbox was restored. 
The negative Chinese news made this roller coaster sell of take place. The winners of course are those who offload every time there is some news, so they take a lot of profit home. The losers are the newbies who bought at ATH and then dumped because they followed the whales who will now go and scoop up all the cheap BTC when it reaches the bottom.
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
All news related to Bitcoin can also affect the rise and fall in the price of BItcoin, let alone the issue of ICO refusal in China today, because the market BItcoin in China is very large. But there are many other causes that make the price of BItcoin down. 
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 that the current fall in btc price is quite normal. China banning ico might have also something about it but not entirely. I think the reason for the fall is that when we hit the all time high at $5,000 people started selling off their btc. Thus the decline of the price. And people will start buying in again just like the old times. It has been the cycle and I think it's just the way it is.
News from china about the ICO ban that affects the fall of all cryptocurrecy prices, if chinese do not spread about ICO prohibition i'm sure bitcoin have touched $5k. but bitcoin prices can still increase again, I'm sure this situation will soon improve.
China banned ICO
Probably this too: https://www.coindesk.com/btc-es-big-claim-bitcoin-withdrawals-begin-tomorrow/
"BTC-e, the long-running and controversial bitcoin exchange targeted by US authorities last month, has claimed that users will be able to withdraw their funds beginning Saturday."
"BTC-e, the long-running and controversial bitcoin exchange targeted by US authorities last month, has claimed that users will be able to withdraw their funds beginning Saturday."
Good point - lots of panic selling going on at BTC-E... It just goes to show how many idiots there are out there without wallets (ie. using an exchange to hold their wealth).
Also USA has a holiday weekend - those are commonly opportunities to short the price down.
Not only the bitcoin, majority of the altcoins are with a red mark. This is a because of the correction happening over the entire digital currency network. Or else it would be an price drop after a bigger price increase as we experienced few weeks back while getting near to $4000.
It is not because of correction. It is because of china set regulation on crypto. They ban ICO and list ICO as illegal activities in China. This cause panic and FUD so people are starting to cash out their money out of crypto. This has happened before when China discourage BTC years ago.
If you enter to any exchanger right now you will see that there are more sell orders than buys.
This is the main factor that makes bitcoin go down at the moment, also there is too much panic around because "everybody" says that we are in a bubble and that bitcoin was gonna crash before the five K, that is why most people are selling their coins.
but there is nothing new, just a little FUD, but all is fine right now.
This is the main factor that makes bitcoin go down at the moment, also there is too much panic around because "everybody" says that we are in a bubble and that bitcoin was gonna crash before the five K, that is why most people are selling their coins.
but there is nothing new, just a little FUD, but all is fine right now.
This is the normal issue that happens goes up pretty fast. Thi is a kind of price correction. It happens to to prevent the overpricing of bitcoin and it save BTC from becoming a bubble. So you can hold your coins for some time, i'm pretty sure the price will go up in some time.
I don't think any external decision is causing this instability or downfall in the price. In fact, I was expecting this scene a few weeks earlier. I believe that Bitcoin should grow at a stable rate and according to the growth of the user base. The recent rally was excitement rally to touch $5K mark and immediately after touching that milestone, thousands of pre-placed sell orders triggered as per the standing instructions and price went down dramatically. However, that's a cool incident and nothing to worry about it and I am sure we will be floating around $5K mark (actual price unlike recent rally) within the first few months of the next year.
It seems to me that the price will recover earlier and we will see 5000 - 6000 dollars in a month. Now is a great time to buy. I've been waiting for this fall for a long time. This was predictable and this was expected by many
Not only the bitcoin, majority of the altcoins are with a red mark. This is a because of the correction happening over the entire digital currency network. Or else it would be an price drop after a bigger price increase as we experienced few weeks back while getting near to $4000.
I don't think any external decision is causing this instability or downfall in the price. In fact, I was expecting this scene a few weeks earlier. I believe that Bitcoin should grow at a stable rate and according to the growth of the user base. The recent rally was excitement rally to touch $5K mark and immediately after touching that milestone, thousands of pre-placed sell orders triggered as per the standing instructions and price went down dramatically. However, that's a cool incident and nothing to worry about it and I am sure we will be floating around $5K mark (actual price unlike recent rally) within the first few months of the next year.
As it is not only Bitcoin but other altcoins as well, there is nothing much to worry about.If it was only Bitcoin ok, let's start clicking the Panic button, but currently, it is not needed. As for now, it is better to wait wisely what's going to happen in the next following days and to see how the market behave.
Again, the recent new about China + BTC-e users who are moving their coins they got back from the platform are making the thing up
Again, the recent new about China + BTC-e users who are moving their coins they got back from the platform are making the thing up
I believe it happened according to the following sequence:
1- Short term traders trying to make profit after the huge rise of bitcoin price getting close to $5,000
2- Chinese Ban of ICOs
3- General fear here and there because of the above 2 factors especially from new traders/investors
1- Short term traders trying to make profit after the huge rise of bitcoin price getting close to $5,000
2- Chinese Ban of ICOs
3- General fear here and there because of the above 2 factors especially from new traders/investors
Look at this
16 June : $ 2.538 ++ (up)
15 July : $ 2.076 ++ (down)
15 Aug : $ 4.600 ++ (up)
15 Sept : Well, I guess it's time bitcoin to get down in order to get higher on 15 Oct
Your predict quite reasonable, because in November, we will have HardFork in Bitcoin system and the price of Bitcoin will fall down in that time if have panic seller or speculator affected by FUD. However, September is best time for shopping crypto cheap price kaka! 16 June : $ 2.538 ++ (up)
15 July : $ 2.076 ++ (down)
15 Aug : $ 4.600 ++ (up)
15 Sept : Well, I guess it's time bitcoin to get down in order to get higher on 15 Oct
ICO will stay with the ICO and bitcoin will stay with bitcoin.
But, don't you think too many scammy ICOs hurt the reputation of cryptocurrency?If ever there will be a happening it should have been an increase because they banned it, investors will sell the tokens to bitcoin.
I think so too.
not only bitcoin is in RED LIGHT also other Altcoin... as bitcoin reach its $5000 many users are start to sell there coin. If many people sell there coin bitcoin and altcoin will start to decrease its price. I think one factor affecting the price is the China banning ICO but i think it is not that huge effect, other factor is the news from Russia about money laundering using bitcoin. but still it is not that huge effect, as i see it is about people are satisfied in the selling price thats why they start selling there coins.
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