Topic: Why Bitcoin prices dropped so low a few days ago؟ - page 3. (Read 965 times)
as far as I know, it's because of the surge in people selling bitcoin. they all sell bitcoin simultaneously, or it could be one person who holds a lot of bitcoin, he sells everything ... so the price automatically drops dramatically !!
If we try to look at it from a trader's point of view, when a price decline begins there's a need to find a bottom. A bottom is a place where people no longer want to sell. Traders look left at the levels that acted as support or resistance in the previous weeks or months and set their orders in proximity. The more traders see certain level as important and set their buy orders there the more likely this level will become the new bottom. It's that easy!
Nobody can really say the reason behind the drop but it is following the technical direction. We might see upward swing before the new year
https://www.forbes.com/sites/billybambrough/2019/12/16/bitcoin-suddenly-dives-below-7000-as-crypto-markets-lose-billions-updated/
https://www.coindesk.com/bitcoin-dips-below-7k-as-traditional-markets-flatline
Actually if you just do a quick search, you can find bunch of articles regarding this. It's a common behavior for crypto in general especially it's near holiday season as we are doing currently right now. Yet, Bitcoin is still pumping although it's quite slow in past 24h.
https://www.coindesk.com/bitcoin-dips-below-7k-as-traditional-markets-flatline
Actually if you just do a quick search, you can find bunch of articles regarding this. It's a common behavior for crypto in general especially it's near holiday season as we are doing currently right now. Yet, Bitcoin is still pumping although it's quite slow in past 24h.
The Bitcoin price has started to collapse yet again as there are more sellers than buyers 
Tell me why Bitcoin prices dropped a few days ago۔ Let me tell you what the reason was۔
some of them need to buy a gift for Christmas or some clothes for their child
that's why it's reasonable for a slight price drop.
Because people sold bitcoin. And because of the law of supply and demand, the price dropped. That's it. Don't try to make theories whereas there's really no way to confirm if it's true or not in the first place.
They are called factors not theories, though bitcoin market price depends directly on the supply and demand, buys and sells, but what we are trying to figure out are the factors in which we could dive deeper to understand why many people demands, sells, and buy cryptocurrency and bitcoin. Understanding this all will surely help us to better shape our decision and to might as well be prepared to buy and sell our holdings. So there's no way we could possibly make people stop thinking of the reasons.
Fact is 90 to 95 percent of people loose money in their investments in stocks, bonds, etc. As value goes up in greed they buy and cause the value to go up even more. When value drops they panic and sell at a loss in mass and cause the value to drop further. Goes on and on like that.
Wealthy do not follow the herd and do the opposite - increasing their wealth further.
Do not follow the herd but instead do the opposite. I know this because from the several hundred bitcoins I bought over 4 years ago (and got a like amount of bitcoin cash for free the following August) I used it to buy a million dollars in realestate in the Great North Woods of New Hampshire and still have a million dollars worth of it to cash in as I please.
Wealthy do not follow the herd and do the opposite - increasing their wealth further.
Do not follow the herd but instead do the opposite. I know this because from the several hundred bitcoins I bought over 4 years ago (and got a like amount of bitcoin cash for free the following August) I used it to buy a million dollars in realestate in the Great North Woods of New Hampshire and still have a million dollars worth of it to cash in as I please.
Tell me why Bitcoin prices dropped a few days ago۔ Let me tell you what the reason was۔
Perhaps people are withdrawing money to buy gifts for Christmas. Possible decrease in activity due to upcoming holidays. There can be many reasons, but I am sure that this is a short-term phenomenon for Bitcoin
Tell me why Bitcoin prices dropped a few days ago۔ Let me tell you what the reason was۔
when talking about market prices no one can find reason for every price drop and raise there are plenty of factors which influence price , some are traceable many are not ,
Tell me why Bitcoin prices dropped a few days ago۔ Let me tell you what the reason was۔
For no reason at all? I don't think there's any fundamental reason for the recent pullback. Just Bitcoin volatility at works. You can say this is whales manipulating the market etc. But I don't think this has to do with people selling Bitcoin for Christmas and New Year holiday. If that was the reason we would see the same trend every year, which is not the case.
It seems to me that during the holidays, traders sell part of their money from exchanges and wallets to relax. This contributes to lower prices, and after a while, traders will buy coins more profitably and a new race will begin. Every year during the New Year and Christmas, the story repeats itself.
ups and downs in prices is common in the exchange, the reason is the existence of supply and demand, but I don't know the exact reason, sometimes a news can also have the opposite effect, no one knows what traders think.
There are many reasons why Bitcoin prices fall, we don't know exactly why, maybe they sell Bitcoin to celebrate Christmas, or sellers are too much and buyers are less likely to cause price drops, or information. bad makes prices push down and there may be other problems.
Always during the festive seasons, the price of Bitcoin and other coins usually goes down because many people want to cash out for holiday gifts and enjoying time and spending money with their families. Also, you have big sales that start in January, so many people do their big shopping also after Xmas. Also, we have the Chinese New year coming up in January as well, so many Chinese will offload tons of Crypto at that time, so I expect that is when the biggest drop in the Bitcoin price will come as when Asians dump, they tend to be very aggressive and dump hard. I expect a 20% drop in the Bitcoin price around mid-January, so I am monitoring now and when I get paid I will change my Bitcoin to tether, well at least 70% of it so I can be ready to buy at the bottom. You need to be more shrewd now and not the market control you, you need to go with the flow, ride the waves and cream the profits, as well as growing your generational .wealth
Indeed, markets like this are going down, there are going up, so don't ask for reasons to go down, bitcoin prices keep fluctuating and the conditions are now going down again, I don't think this needs to worry about the decline because it could be ahead of Christmas and sell lots of bitcoin, so there's no need to ask any more reasons .
I will continue to look at market movements as they really look ahead and don't give incorrect analysis.
I will continue to look at market movements as they really look ahead and don't give incorrect analysis.
The main reason is because a vast majority of Bitcoin investors sold their coins immediatly after each other.
When many of them saw the price going down they started a chain reaction making many of them "panicing" and selling their coins.
The more price went down the more investors would start panicing and selling more.
Some people don't know how to handle the pressure between sudden big price fluctuations. So they follow the trend.
Besides that the major upset for a price drop start was due to many investors leaving some exchange (probabily due to Binance being shut down).
When many of them saw the price going down they started a chain reaction making many of them "panicing" and selling their coins.
The more price went down the more investors would start panicing and selling more.
Some people don't know how to handle the pressure between sudden big price fluctuations. So they follow the trend.
Besides that the major upset for a price drop start was due to many investors leaving some exchange (probabily due to Binance being shut down).
Is there really any proper reason to get low or high of the Bitcoin price? I don't think so actually, I think there is also simple economics along with manipulation by big holders of Bitcoin. When the price is getting low then most of the people in this forum have a tendency to get scared and they usually start panic selling without no reason, in this way, the Average price of Bitcoin gets lower, on the other hand, some big fishes are trying to catch this moment and they are holding more Bitcoin at a low price. I believe this is totally intentional and manipulation by some people.
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