Why the cryptocurrency prices went down suddenly - page 3.

zhangcaisbsbn55

member

Activity: 308

Merit: 10

Quote from: AlexTF.CCN on March 08, 2018, 05:33:44 PM

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC) announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week

https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

I think the banning of some countries may influence the orice of the coins. I think we should wait patiently for the bull market to come.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: makuhpal on March 08, 2018, 06:07:38 PM

Binance incident was a hack,it isnt not just a rumor they have disabled the widrawals luckily that said their ass for their good reputation.Binance wont admit the it but they have already called those guys as hackers so it means binance was hacked,anyways phishing attacks are generally considered as a way of hacking stealing APIs from bots are bullshit,in the first place binance shoudlnt be allowing those bots in their system,it is their fault period.

I would not call that a hack. Get facts straight! Binance itself was not hacked, some accounts were and the hackers were only able to get into the account after a phishing incident that happened in the past which made the hackers generate APIs for these accounts and chose a good time to act. At the end, binance was able to get this and stop it without anyone losing anything, except that some accounts got their assets exchanged which they will have to exchange back themselves.

ujinice

member

Activity: 574

Merit: 15

Quote from: kanmo on March 11, 2018, 03:47:33 AM

In my own opinion the down time is caused by the newbies in the crypto world. They get manipulated easily by some unconfirmed new and they sell their coins at a very ridiculous price.

I fully agree, it seems to me that this is the main reason for such high volatility.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

The market as a whole is getting massively fudded and all that says to me is its a good time to buy.

coynedterm

hero member

Activity: 882

Merit: 500

Quote from: AlexTF.CCN on March 08, 2018, 05:33:44 PM

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC) announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week

https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

If anything will happen wrong then surely those services should be suspend by the government authorities , so I don't think these will give any big impact over the market of the cryptocurrency at all because in that way everything will be safe ( transparency ) .
But in my opinion the most big factor that I think will be the reason of the dump of the price is the hack of the binance , and I think In actual not was any fault of the binance regarding this thing but there was like mistake by the users ( I read about it in an article where it was mentioned that it was fault of the super only ) .
So we'll whatever happened , people just get into fear and go for the sell of Thier altcoins to make Thierself sure that there is nothing risky think .

anylic

full member

Activity: 278

Merit: 115

GIF by SOCIFI

These factors are exactly what's going on and I think this is the start to boost the market from mid-late this year. I believe this is a good sign that the whole world is waiting for something that can change the market

lovela

member

Activity: 126

Merit: 10

I don't think sMerit harvesting is a serious crime

Crypto market suddenly went down due to series of FOMO, FUDs and fake news that's been disturbed the crypto world and this kind of droppings are pretty normal because as I myself is a proud Hodler and I survived a lot of market crash since last year.
Crypto enthusiasts are expecting the crypto market to recover every time the market crash.

AlexTF.CCN

jr. member

Activity: 140

Merit: 1

Quote from: helin9108 on March 11, 2018, 01:24:21 PM

Now a days bitcoin facing 11500$ stiff resistance , when it comes this level and again fall back but this time some bad news came it fallen. But in this post you have said " US Securities and Exchange Commission (SEC) announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. " I think this is good for the novice investors of ICO because the scam ICO might go away.And for binance hack news was the most important for this fall because now a days binance is hot favorite for most traders and investors, so as the news came of binance has market fallen heavily.

I couldn't agree more mate

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

mt gox unloading 1000's of btc dumping it from 16k to 10k in a short time, caused week hands to dump their btc and it all came tumbling down

find the real projects with real dev teams and long term you have nothing to worry about

flashmark

member

Activity: 266

Merit: 11

It seems whales not entered into the market yet. BTC crashed and failed survive at the 10k support level. When support level is broken, most of the traders selling their positions. So price drop is possible. When BTC finds support level, buyers re-enter to the market.

cryptodrei

member

Activity: 207

Merit: 10

The future is your Genome

Probably the FUDs that were spreading? the SEC's stupidity to announce their full regulations,what the heck will happen to our market ? bitcoin's chart is showing down trend and it is going to be below the current support levels,worst it will hit $1.2k again that is why we need to be vigillant or we could lose a lot of money in the next upcoming days.

helin9108

full member

Activity: 294

Merit: 101

ELYSIAN | Pre-TGE 5.21.2018 | TGE 6.04.2018

Now a days bitcoin facing 11500$ stiff resistance , when it comes this level and again fall back but this time some bad news came it fallen. But in this post you have said " US Securities and Exchange Commission (SEC) announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. " I think this is good for the novice investors of ICO because the scam ICO might go away.And for binance hack news was the most important for this fall because now a days binance is hot favorite for most traders and investors, so as the news came of binance has market fallen heavily.

rudox

full member

Activity: 476

Merit: 100

I think the issue of news sentiment affecting market movement is always there. Reactions to this sentiments makes the market. If the holders panicked and react in that direction this will trigger selling pressure on the market and the market becomes bearish but if the holder react positively and hold to their coins there will be no pressure on the market the price will remain stable.

mangkanor

member

Activity: 210

Merit: 10

Because that is how the market works and you need to understand that this is just a comon thing to have,market wont go upwards all the year it might have some sideways or stabilized days or it might have bloodbaths which is the bear market that is why you need to understand the flow of the market so that you wont be panicking whem the market has started to fail.

AlexTF.CCN

jr. member

Activity: 140

Merit: 1

Quote from: Wilsonong222 on March 11, 2018, 03:04:39 AM

Quote from: AlexTF.CCN on March 08, 2018, 05:33:44 PM

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC) announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week

https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

Nice post OP although the reporter look rash I can ignore laughing. Putting kidding aside, I just hope that the downward moment is only temporary. This kind of bad news coming from the media really affects the price of cryptocurrencies. But based on TA the trading price for next week is 9,200 – 7,700 USD. If fud continue in BTC which we are all are hoping not happen, the price of BTC would be 6,500 USD in the 3rd week of March.

That's an interesting approach, and thanks for the compliment! Let's hope it does not drop that far away, although to be honest with you, the lower it goes, the better chances we've got to invest in it. If one thing is for sure, blockchain technology is here to stay, and eventually, prices will bounce back up (a lot of countries are investing in the blockchain technology). It may take a month, it may take a year, but prices will rise!

oturanbilboa

sr. member

Activity: 454

Merit: 252

Because the price of bitcoin is down. I think this is the biggest reason why the prices of crypto money have fallen. The other reason is that there are too many scam projects and garbage tokens on the market. The trust issue is very important in this market as well.

AlexTF.CCN

jr. member

Activity: 140

Merit: 1

Quote from: Ging on March 08, 2018, 05:51:22 PM

You have to know my friend that btc is the king of the crypto and whenever the price of it goes down the price of alternative coin go down either but soon it will back normal

Actually, can you believe that one coin went up in price while the rest went down? It's a new one by the name of CREDITS, went out and up the charts by 600% of its original price. Here's a video where you can see more about it

https://www.youtube.com/watch?v=W2qoSoYyi3E

mikyadel

full member

Activity: 448

Merit: 100

Arabic Translator

Quote from: vike on March 09, 2018, 02:50:44 AM

As for me it is a simple correction of crypto market, and now we can see the bullish trend and it is a great chance to invest in crypto

the correction supposed to be ended and btc was already trying to break 12k resistance ,but these resent FUD caused the crash.

ukstar

jr. member

Activity: 436

Merit: 1

Now cryptocurrency price is very dumb because it is a business that means it is a start of the year so January February March it can be starting month for a new year so happy new year market will be down if you follow before you can see the total market prediction.

arditiyan

full member

Activity: 616

Merit: 100

I see some negative news about bitcoin in different countries, I think this is one of the causes of unstable market for several days, I hope it will end soon and recover quickly

Topic: Why the cryptocurrency prices went down suddenly - page 3. (Read 617 times)