Topic: Why does the Bitcoin price keeps nose diving? - page 2. (Read 848 times)
I think that the bitcoin price keeps nose diving because of the negative publicity that bitcoin is being manipulated and then there's bitcoin dumping which overflow the supply of bitcoin and makes its value goes down and because of that many of its investors and supporters abandon their support on bitcoin pushing further down bitcoins market value.
According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.
Until now there have been a lot of governments and authorities who are frightening the use of Bitcoin / Crypto. Basically they are worried because the crypto price movement is so fast that it is very likely to cause economic chaos in a country. Besides that, there are a lot of financial transactions that are free to do and have anonymity, making it difficult for the authorities to take action. This is what we are still waiting for, when various sectors support Crypto use, it is very likely that crypto can develop very rapidly. We are waiting for all that and I am very optimistic that it can happen.
According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.
Until now there have been a lot of governments and authorities who are frightening the use of Bitcoin / Crypto. Basically they are worried because the crypto price movement is so fast that it is very likely to cause economic chaos in a country. Besides that, there are a lot of financial transactions that are free to do and have anonymity, making it difficult for the authorities to take action. This is what we are still waiting for, when various sectors support Crypto use, it is very likely that crypto can develop very rapidly. We are waiting for all that and I am very optimistic that it can happen. hero member
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I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit
Thats definitely one of the reason behind the dump in price of the market but the thing which I believe was the reason behind the current bottom price the November holidays because most people usually sell than holding when it November-December. However,if you watch closely the date which dip market happened, it started acouple of days to this year thanksgiving. 
I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit
According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.
There definitely could be concerns with that which led to prices plummeting. There may also be reasons behind this dump regarding the hard fork of other cryptos, they are all factors.
But honestly, if these news came out in a bullish sentimented environment, I really doubt that prices would be affected this much. Only in a bear market do these news stick around and result in a panic dump, because weak hands who are merely speculating on the market to make a quick buck don't have the fear of missing out to buy into bitcoin anymore, like in a bull market. The cycles of the BTC market which has been shown countless times is the ultimate reason behind all these price dips imo.
TBH, a price recovery seems very unlikely this year, but could happen in the next year after prices bottom out at $3-4k and move sideways a bit. Shouldn't be concerned at all though if you're holding for the long run, which I think most people here are doing. Short term dumps like these have absolutely no impact on how bitcoin adoption (both institutional and individual) and usage will go in the long term.
I guess some people are just disappointed with the price now expecting for it to go up just like last year during this time but then the opposite happened and it keeps going down. With this kind of market, some I believe already gave up and sell their coins with no plans of turning back again. Some panic sell seeing the price continuously go down. With the news about the fork of bitcoin cash, others sell their bitcoin for bitcoin cash to have the free coins and then the price wasn't able to recover.
Still, many banks and governments are incited to make money more digital. My thought is that we're probably going to face a situation similar to what happened with regard to Lehman Brothers: There's a high risk for Bitcoin to sink, but the rest of the cyber-currencies will be saved.
Not only there is a hash war going on but also that causes a lot of sell from people who are afraid of losing money once again.
I have talked with someone in a telegram group who bought bitcoin at around 19 thousand dollar prices and kept his bitcoin until it was about 12 thousand dollars, thankfully he sold it during 12 thousand dollars to prevent further drop in price, which is still a loss and a bad thing but at least he realized his losses and now is not at 4 thousand dollars.
Well, I wish he wasn't. He rebought all he can afford at around 6.2 thousand dollar levels thinking that was the low and now the price is even lower, he sold it during 4.4 thousand dollar levels thinking it will go even further. As you can see people keep panic selling no matter how many times they lose to the whales. That single big fall creates a huge wave of sell orders.
I have talked with someone in a telegram group who bought bitcoin at around 19 thousand dollar prices and kept his bitcoin until it was about 12 thousand dollars, thankfully he sold it during 12 thousand dollars to prevent further drop in price, which is still a loss and a bad thing but at least he realized his losses and now is not at 4 thousand dollars.
Well, I wish he wasn't. He rebought all he can afford at around 6.2 thousand dollar levels thinking that was the low and now the price is even lower, he sold it during 4.4 thousand dollar levels thinking it will go even further. As you can see people keep panic selling no matter how many times they lose to the whales. That single big fall creates a huge wave of sell orders.
I don't think it had anything to do with this criminal probe. This was actually already discussed a few months back and the market already knew about it. Same with the BAKT delay, there were many ETF delays and ETF denials which resulted in no price action.
Same with the hash wars that is going on with the BCH ABC and BCH SV, I highly doubt the real satoshi is selling his BTC to fund miners on Nicehash.
It crashed because many had a stop loss <$6000 or $5800 and it created a domino effect and also it was very sudden and came as a surprise to most.
Same with the hash wars that is going on with the BCH ABC and BCH SV, I highly doubt the real satoshi is selling his BTC to fund miners on Nicehash.
It crashed because many had a stop loss <$6000 or $5800 and it created a domino effect and also it was very sudden and came as a surprise to most.
Bitcoin's value keeps going down because there are many sellers than buyers. People are panicking because of this so they dump their holdings afraid that they might lose more when it goes down even further. Yes, even more bad news and negativity around cryptocurrency also affect the price of altcoins.
Exactly! It is a market and as long as there is no demand to really hold it up, things like this will continue. Moreover, there is no doubt the market is prone to manipulation, based on the reality that this is an unregulated decentralized space, so one way or the other, we might just have to consider the fact that the institutions are doing their bit, based on the market being new and speculative, to keep driving the weak hands out of the market for as long as they can, until maybe we finally hit mainstream adoption as well as possible real life usage. According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated.
bitcoin have many years since its creation and its price has gone up a lot and fallen a lot, I do not know because only now they started to want to investigate about a possible manipulation of prices and many exchanges are not in the USA and do not have license since that still an unregulated market, this is all very difficult.
I think it might be the main reason behind the price of bitcoin dropping to around $4000
I do not believe that is the reason for the fall in prices
Okay, you don't believe that the DOJ's investigation on cryptos price allegedly being manipulated is the reason for the fall in prices? Then, give me your argument.
Well we can see that there are FUD everywhere and the one that will give Bitcoin a breather is moved till next year of Jan. Isn't this obvious? The market is somehow being manipulated, probably a huge entity wants it to buy at its lowest and created an issue and confusion that started during the BCH war and they are successful in shaking weak hands. In short, an upsurge of Bitcoin supply that is on sell wall overwhelm the buy order and sadly those who are buying adjusted their buy order to gain more profit when it is fulfilled.
According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.
I guess some people are just disappointed with the price now expecting for it to go up just like last year during this time but then the opposite happened and it keeps going down. With this kind of market, some I believe already gave up and sell their coins with no plans of turning back again. Some panic sell seeing the price continuously go down. With the news about the fork of bitcoin cash, others sell their bitcoin for bitcoin cash to have the free coins and then the price wasn't able to recover.
The DOW is also nose diving - look it up.
Fact is the US government is 22 TRILLION dollars in debt and all US households are another 12 TRILLION dollars in debt. Add that up and consider how wealthy America really is.
You guessed it, not wealth at all and you can thank our Democrat socialism for that.
Fact is the US government is 22 TRILLION dollars in debt and all US households are another 12 TRILLION dollars in debt. Add that up and consider how wealthy America really is.
You guessed it, not wealth at all and you can thank our Democrat socialism for that.
Your argument is invalid.....
Debt added "Change in debt as a percentage of GDP"
#1: Bush 43 (Republican)
#2: Obama (Democrat)
#3: Reagan (Republican)
#4: Bush 41 (Republican)
#5: Ford (Republican)
Yeah blame the democrat because he invested in social welfare and not war
According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated.
bitcoin have many years since its creation and its price has gone up a lot and fallen a lot, I do not know because only now they started to want to investigate about a possible manipulation of prices and many exchanges are not in the USA and do not have license since that still an unregulated market, this is all very difficult.
I think it might be the main reason behind the price of bitcoin dropping to around $4000
I do not believe that is the reason for the fall in prices
All this not different than a few years before, just another bear market, as usual. We can't always just go up we do need to chill and reload.
Bitcoin's value keeps going down because there are many sellers than buyers. People are panicking because of this so they dump their holdings afraid that they might lose more when it goes down even further. Yes, even more bad news and negativity around cryptocurrency also affect the price of altcoins.
the drop started only because of the FUD and panic of the altcoin fork called bitcoin-cash and that has been harming the stability of bitcoin price ever since. and when the price enters lower values by breaking a strong buy support the drop becomes bigger because the support below that line is no longer strong and the panic is also added to the mix until it reaches another strong buy support. that is why the drop has been like this so far.
The DOW is also nose diving - look it up.
Fact is the US government is 22 TRILLION dollars in debt and all US households are another 12 TRILLION dollars in debt. Add that up and consider how wealthy America really is.
You guessed it, not wealth at all and you can thank our Democrat socialism for that.
Fact is the US government is 22 TRILLION dollars in debt and all US households are another 12 TRILLION dollars in debt. Add that up and consider how wealthy America really is.
You guessed it, not wealth at all and you can thank our Democrat socialism for that.
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According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.
What you said concerning the Federal prosecutors maybe one of the reason why the market is facing a down trend and we both know that the price of every crypto currencies are manipulated sometimes but crypto market correction usually happen the next year when an ATH has achieved. However, I can assure you that nothing the probe which was to be launched by the federal prosecutors can really to stop market manipulation. Jump to: