In my opinion there are a few reasons for that.
1. Mt. Gox trustee selling its Bitcoins rapidly, and market's liquidity and RSI are getting higher.
2. IRS issued Bitcoin taxation and the annual reports for individuals to submit their past 12 months income via Bitcoin trading for giving the USA governments tax on Bitcoin. People from USA are selling their BTC to pay tax.
3. Weak hands panicking over google, linkedin, Medium and other social outlets banning ICO advertise.
4. Cryptocurrency market is just like Wall Street, you can always expect these to happen. So hold on tight. The market will eventually come back to normal in a month or so.
1. Mt. Gox trustee selling its Bitcoins rapidly, and market's liquidity and RSI are getting higher.
2. IRS issued Bitcoin taxation and the annual reports for individuals to submit their past 12 months income via Bitcoin trading for giving the USA governments tax on Bitcoin. People from USA are selling their BTC to pay tax.
3. Weak hands panicking over google, linkedin, Medium and other social outlets banning ICO advertise.
4. Cryptocurrency market is just like Wall Street, you can always expect these to happen. So hold on tight. The market will eventually come back to normal in a month or so.
Ya most of the point are right but I think the Chinese government starting banning IOC project which having the bad impact on Bitcoin. I remember that when I start trading with this coin the price is good but right now it getting worse day by day.. And I have another question like banning of IOC will also going to impact on Ethereum??
