Why is the bitcoin price going down?

vhiancs

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

It's because of the bad news and also because of the ban on bitcoin in china and in other countries. but no worries i know someday the bitcoin price will getting pump again, i still hoping and holding my bitcoin no matter what.

el kaka22

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Quote from: trickyriky on February 06, 2018, 01:15:49 AM

Quote from: bitcoinblog on February 02, 2018, 12:09:52 PM

Indian budget yesterday came in which they use sentence " Cryptocurrency is not legal tender " and people think " not legal means illegal " but Finance Minister already said , Not legal means we are still not in position to say anything about it.

Today if i am not wrong , they cleared we will think about it. As two big trade site are working in India , Unocoin and Zebpay.

But even after this news Bitcoin did not stop its fall. It is not stable, going up and down all the time. I suppose it will last for long, at least for a month.

This is going to be like the second longest correction so far, I guess. I really do not see how guys are not seeing the blueprint all over the wall. The whales want you guys to panic and dump what you have so they can benefit a lot from it, and then some of us unfortunately are busy giving them what they want. Nevertheless, I believe this will keep getting the market stronger as time goes on and as people started realizing their mistakes, while they grow in the community.

yrreg ger

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

Bitcoin is down this day of $ 6,968.8, this is because the UK banned all cryptocurrency in payment of their credit card. And based on what I read the cryptocurrency are extended banned in the banking giant family credit card that includes the bank of scotland and others that truly affected the price of bitcoin now in the market.

https://www.express.co.uk/finance/city/914716/Bitcoin-price-news-today-worth-stock-BTC-USD-cryptocurrency-XRP-Ripple-ethereum

batang_bitcoin

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Quote from: Rana590 on February 06, 2018, 04:32:25 AM

People are in now hesitation.

They can't attain to see the charts so they are hesitating.

Quote from: Rana590 on February 06, 2018, 04:32:25 AM

New people are not joining to invest on bitcoin.

New investors are also scared that they have lost that much not knowing that bitcoin is ready to recover now and they are also not aware that this how volatility works.

Quote from: Rana590 on February 06, 2018, 04:32:25 AM

For this reason bitcoin is decreasing rapidly.

No, the main reason why bitcoin is rapidly going down is there are too many people selling it.

Quote from: Rana590 on February 06, 2018, 04:32:25 AM

It is on correction and after that hopefully price will be recovered. It has still chance to recover.

This is a long correction and what we need to do is stay tune and hold, have some cup of coffee too.

ngavanngo22

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

Recently, we can see that Bitcoin's rate has been continuously decreasing, and the main reason is due to the negative news as FOMO sells all its assets to cut losses when prices down to 5000 dollars. There are a lot of questions like this in the forum recently, and they are in a state of anxiety, wondering whether to continue to hold or sell all and accept losses rather than hold and still have the opportunity to make a profit.

rickadone

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Quote from: onecall123 on February 02, 2018, 11:36:26 AM

Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

All the matters are confined in simple words, it's panic selling. Damn rally of continuous regulation on crypto exchange and mostly spreading of FUD is the culprit of price dipping.

And to top it up, that panic selling is one of the reasons why we give the institutions the upper hand in the market. I would not blame anyone though, there is really no good news for bitcoin right now and I see no reason why the buying momentum will skyrocket, but all the same, this kind of period is normal for any market, but the best is to keep all hopes high.

A lot of FUD is going around, a massive correction going on after a pretty big huge rise that almost turned to a bubble, and then the whales and institutions stepping in.

However, this is nothing to be worried about. We are getting close to the despondency stage, the market will recover and then you will start seeing the hope being raised up all over again. It has happened before, it will happen again, good you have experienced it now so you can have something to tell upcoming newbies.

cipher-x_09

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With many more countries and influential figures in the business industry going against the rise of cryptocurrency in the world today, because of the never ending rise of ICO's which are meant for scamming and tricking other people in the market which is why they are wary of the continous progress of crypto coins today.

AK47-

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Not one but many factors are contributing to this price drop. India and South Korea fud was a buzzkill. Then the reason which has caused this massive price drop is crash in international stock markets, as only 2 of the 30 companies of the 30 in S&P 500 showing an increase in price. Crypto doesn't operate in isolation and all financial instruments are related. The only silver lining being that if Dow Jones index falls any further it will correct itself, which has happened 5 times in last 8 years and is long overdue.

e-coinomist

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Quote from: Rana590 on February 06, 2018, 04:32:25 AM

People are in now hesitation. New people are not joining to invest on bitcoin. For this reason bitcoin is decreasing rapidly. It is on correction and after that hopefully price will be recovered. It has still chance to recover.

Between 2018 and 2013 there had been 5 Years.

Once could argue that this meltdown could heal in another 5~10 years. But I doubt that. The momentum has been lost, the notation of the currency as a store of value destroyed.

Rana590

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People are in now hesitation. New people are not joining to invest on bitcoin. For this reason bitcoin is decreasing rapidly. It is on correction and after that hopefully price will be recovered. It has still chance to recover.

prabhu

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Quote from: jjacob on February 06, 2018, 01:20:13 AM

Quote from: trickyriky on February 06, 2018, 01:15:49 AM

Quote from: bitcoinblog on February 02, 2018, 12:09:52 PM

Indian budget yesterday came in which they use sentence " Cryptocurrency is not legal tender " and people think " not legal means illegal " but Finance Minister already said , Not legal means we are still not in position to say anything about it.

Today if i am not wrong , they cleared we will think about it. As two big trade site are working in India , Unocoin and Zebpay.

But even after this news Bitcoin did not stop its fall. It is not stable, going up and down all the time. I suppose it will last for long, at least for a month.

It is dropping sharply and I doubt if one news item could cause such a sharp drop in price. India has a marginal role in the global bitcoin market, and Bitcoin has weathered a crackdown by China and (limited) FUD from the South Korean government. I think it is a shift in investor sentiment and risk aversion in general.

Yes ,India Bitcoin has declared investment and transactions illegal. Bitcoin mining and trading companies in India will be closed at any time information has been released.Bitcoin investment in India will be greatly reduced.Such events happen in Market.But Bitcoin was banned in India following countries such as chinna, south Korea, Vietnam and Japan the reason for this fall.This will cause fear of investors worldwide.Belief in Bitcoin will go away.

nl247

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Quote from: aardvark15 on February 02, 2018, 04:04:10 PM

Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

One factor was the announcement by Facebook that they will no longer allow any Bitcoin or cryptocurrency advertisements on their site. This combined with news of tighter regulations in South Korea and India helped push the price down. The cryptocurrency market emwas die for a correction anyway, so all of these factors played a role.

The problem is that some investors who really do not understand what they are into, panic at the slightest news they hear that is not in favour of cryptocurrency and then they bail out even at losses while they allow the institutions to play with their intelligence. Facebook had their reason for this and not because they were against cryptocurrency, but because they could not eliminate the good ones from the bad ones and for the sake of investors, they just had to halt it.

However, the good thing is that most of the coins have so much bottomed out right now and only those who are smart enough will know that this is the right time to fish for a good product and buy more, rather than panicking. Take a look at the past, there was no downtrend that lasted forever, as it will recover. Over time, every newbie will all get used to it anyway while some will regret the fact that they wasted so much time complaining when they had the opportunity to take action.

BILGPS

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To say about bitcoin the price of bitcoin is falling day by day and i have invested a lot in this currency so i am very unhappy because of this price fall. Bitcoin is good currency and it is accepted every where now it is hard to know about the price high because i have invested a lot in this currency to get profit of this so Bitcoin is good and very profitable we should have some patience.

care2yak

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not much demand, hence the downtrend. o ray of light, where art thou? Grin

next support is somewhere 5,300 or so or i may be mistaken..... maybe after the chinese new year, the market will fuel the bitcoin rocket..... or probably after april fools? Wink

jjacob

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Quote from: trickyriky on February 06, 2018, 01:15:49 AM

Quote from: bitcoinblog on February 02, 2018, 12:09:52 PM

Indian budget yesterday came in which they use sentence " Cryptocurrency is not legal tender " and people think " not legal means illegal " but Finance Minister already said , Not legal means we are still not in position to say anything about it.

Today if i am not wrong , they cleared we will think about it. As two big trade site are working in India , Unocoin and Zebpay.

But even after this news Bitcoin did not stop its fall. It is not stable, going up and down all the time. I suppose it will last for long, at least for a month.

It is dropping sharply and I doubt if one news item could cause such a sharp drop in price. India has a marginal role in the global bitcoin market, and Bitcoin has weathered a crackdown by China and (limited) FUD from the South Korean government. I think it is a shift in investor sentiment and risk aversion in general.

trickyriky

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Quote from: bitcoinblog on February 02, 2018, 12:09:52 PM

Indian budget yesterday came in which they use sentence " Cryptocurrency is not legal tender " and people think " not legal means illegal " but Finance Minister already said , Not legal means we are still not in position to say anything about it.

Today if i am not wrong , they cleared we will think about it. As two big trade site are working in India , Unocoin and Zebpay.

But even after this news Bitcoin did not stop its fall. It is not stable, going up and down all the time. I suppose it will last for long, at least for a month.

Wilhelm

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Nellayar

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The factors affecting the price of bitcoin are:
1. Speculations of the people, some investors are misleading in result for the panic selling.
2. Seasons affect the price also. There are times that the demand of bitcoin is so down because of Christmas holiday and other holidays.
3. The banning of different countries in bitcoin and the government warned the people not to invest much in bitcoin.
4. When whales make some conspiracy that leads to controlling of the market.

aioncoinlove

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Quote from: OgNasty on February 02, 2018, 02:53:09 PM

There is not enough new money entering the market to sustain the price with the current selling + generation of block rewards.

Now there are many coin on market. Some investors take money to buy or sell other coin .

gorush

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Quote from: pstraene on February 02, 2018, 11:27:01 AM

Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

China, Japan, India, Bitfinex. But all this is already in many other threads inside. I wonder why you make a thread with this question again. You just have to read them. Who does not read crypto will never understand either.
and you will not get a reward for such questions. You have to earn it differently. sorry

Like he said a lot of fud and bad news.

aardvark15

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

One factor was the announcement by Facebook that they will no longer allow any Bitcoin or cryptocurrency advertisements on their site. This combined with news of tighter regulations in South Korea and India helped push the price down. The cryptocurrency market emwas die for a correction anyway, so all of these factors played a role.

OgNasty

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There is not enough new money entering the market to sustain the price with the current selling + generation of block rewards.

odolvlobo

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

It's easy. The reason for the price going down is the opposite of the reason for the price going up.

Anyway, the drop is the normal result of a speculative buying frenzy. It is impossible to predict when it will happen, but it is a certainty.

signalbitbot

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large players created the hype to buy a cryptocurrency cheaper =)

mlgblockchain

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People are blaming Korean FUD a lot for this fall. But I think the Chinese new year is the main reason behind it. And of course the Panic Sell is leading it to more downfall. I hope the value of the bitcoin will become steady within few months. It needs to, it influences all the other crypto currencies.

nsiman

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The main reason for me is FUD.....too much panic amongst investors is actually causing a lot of decline

upekhaanthony

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Mainly India and Korea government decision cause for that and panic sell make price drop soon. Some third party manipulating crypto currency market for buying BTC at very lower price. Lot of disappointed news also made panic seller more higher.

bitcoinblog

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Indian budget yesterday came in which they use sentence " Cryptocurrency is not legal tender " and people think " not legal means illegal " but Finance Minister already said , Not legal means we are still not in position to say anything about it.

Today if i am not wrong , they cleared we will think about it. As two big trade site are working in India , Unocoin and Zebpay.

onecall123

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

All the matters are confined in simple words, it's panic selling. Damn rally of continuous regulation on crypto exchange and mostly spreading of FUD is the culprit of price dipping.

pstraene

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Quote from: srilankarox on February 02, 2018, 08:17:17 AM

Why is the bitcoin price going down? Sad

China, Japan, India, Bitfinex. But all this is already in many other threads inside. I wonder why you make a thread with this question again. You just have to read them. Who does not read crypto will never understand either.
and you will not get a reward for such questions. You have to earn it differently. sorry

srilankarox

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Why is the bitcoin price going down? Sad

Topic: Why is the bitcoin price going down? (Read 400 times)