Bitcoin Forum

Dear community members,

I believe everyone has noticed today's global downfall of crypto market. Most of the assets are down by more than 15% and bitcoin is heading towards 10k mark.

I am surprised to see the downfall because I was not able to find any significant news which may have caused this downfall.

Ami I missing something here? Can anyone please enlighten us with the possible reason?

Thanks!

Wow man, you're overwhelm me, going to look the news

According to the news I saw on google that South Korea is looking to ban cryptocurrency exchanges on their country. That's probably one of the reason today why bitcoin market is going down.

They revoked it, again. They "banned" bitcoin 5 times in a month, call that a record.
There's no need for a special reason for this market drop. Sometimes there are news and rumors that can trigger it, but sometimes it just the market as it is. It's normal, just take advantage of the drop if you can.

There are several topics already about this matter... Takes literally seconds to find one and read the answers already there... Nonetheless:

The reason behind this market crash is the spread of FUD from Asia. There were some news about china wanting to stop the bitcoin mining in their country ( keep in mind that China represents 2/3 or so of the total mining power), and also a suposed ban of crypto trading on South Korea. People started panicing and the market is showing exactly that.

well bitcoin started going down and whenever that happens altcoins, without any hesitation, start their dumping. and that part doesn't really need any reasons to happen. it just happens.

and as for bitcoin, as you may have guessed already from this board and the "internet", there is a lot of FUD about banning bitcoin again circulating the media.
and it baffles me that people still care about what the government says about the "decentralized market"!

There's news from South Korea that their govt is about to ban BTC. Also the Chinese New Year is around the corner. Those are the only reasons iv found.

According to the latest news on Bitcoin, some countries are planning if not, already banned bitcoin. Likewise, many have been panicing on selling their bitcoin because of these news. I also believe that these are just their strategies to make bitcoin goes slow.

Well, if you ask me what is the reason for crypto market down, i cant answer that.
But at least, i want to tell you, if the they are going down, you better get ready to invest them at the lowest price,
and they are going to increase again.

The decrease in the price of bitcoin can be explained by the latest news from China, where local authorities intend to block access to local and foreign platforms for trading.
At the same time, Reddit has a different theory, according to which the current decline in the market of crypto-currencies can be caused by the forthcoming lunar new year in Asian countries. The region still has significant trading volumes, and as the author believes, before the holidays many people want to take digital assets into Fiat.

Only reason, I can see behind all this is that bug investors are withdrawing their money for investing in alt coins. There is nothing to worry especially if you have invested in long run.

actually today I buy more bitcoin and some alternative coins that have great potentials, we all know that the dip is the time to buy that we cannot miss.

Smat move, I wish I could buy some coins now

No big news except the news from last week that may still be in effect today. All crypto are down mainly because bitcoin price is down that affects all alt-coins and tokens out there. Luckily bitcoin is slowly bouncing back which will pull other cryptos up too. Hope this continues.

As I know there were some unconfirmed news about China banning the miners in their country and Korea looking forward to ban the exchanges in their markets.

The price has gone through a dumping time. it is easy to guess the causes of the crash. The price does not need a lot of analysis to make sure that it has collapsed or has risen.

some say this is correction and Big players. others say it is China and its effect. Its hard to guess but you can find alot of analysis that prove the down.
Tracking the price will not help. you have to learn how to guess when the rise will be and when the collapse might happen, and thus you can predict how much profit you might make.

Some say we will not get 12,000 dollars again, until 2021.

my openion is, business means it rais,it down regularly.traditionally it wiil happen. but there is a reason for global crypto market down is in korea are ban the curruncy probably i know.people are worried about this.for this reason global crypto market down

The problem here is the participation of the market has been divided between Bitcoin and also other Altcoins. And we have seen these early on when the price of Bitcoin got down from each recent high and suddenly some Altcoins starts pumping. With these happening all of the cryptocurrencies suddenly started to go up. And now with some Bad news many traders started to sell their cryptos for profit taking that is why we are seeing the market now in red.

Panic + profit taking

Whales are cashing out before now new traders are cashing out and whales are buying back cheap coins. Price will soon recover so its time to buy not sell.

This is I think the reasons why this is happen market is going down because of this korea issues. Also many had panic over this problem. Actually this is the usual screnario in the market price ups and down so in this case better obseve the market before you invest.

Reasons:

Frist China want to ban all the foreign exchanges in their country.
https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

then France Creates Working Group for Cryptocurrency Regulation
https://cointelegraph.com/news/just-one-person-found-to-have-caused-bitcoins-jump-from-150-to-1000-in-2013

then German Central Bank Director: Crypto Regulations Must Be International
https://cointelegraph.com/news/german-central-bank-director-crypto-regulations-must-be-international

Also India already setup a board for crypto regulation.

It might be what is happening in South Korea. The government is not going to ban the exchange sites but they will always has option to close them if it is necessary.
And I heard that no more foreigners and under ages are able to trade in South Korean exchange sites. I think they are selling what they have now before they lose them.

these pump chats are one of the main things that spoil the image of bitcoin and altcoins


in all the news channels talk about the possible reasons:

Crypto Market Suffers From Uncertainty in Asia, Losses Up to 40% (https://cointelegraph.com/news/crypto-market-suffers-from-uncertainty-in-asia-losses-up-to-40)

Markets Update: The Top 68 Cryptos Dive During the January Slump (https://news.bitcoin.com/markets-update-the-top-68-cryptos-dive-during-the-january-slump/)



bitcoin fell to $ 10700, that was a big fall and all altcoins are in the red

Its probably China again, and ofcourse Korea too, people are selling in panic. I recommend hodl.

That's true! We are seeling large number of sell orders for all cryptos, but also bitcoin has gone down to an insane level. I can't say this is a normal fluctuation since it is going down for more than 24 hours straight.

Also many people are pointing towards South Korea news of banning Cryptocurrency. But I am sure that is not the case. Because this news is taking round in the market since few weeks now. But they haven't yet come up with a official notification and the market dropped more than 20%. There's must be some other reason which I am not able to guess. Probably a big gameplan by a group of market influencer is playing a background role.

The reason is the Korean and china news

Bitcoin is too sensitive to news


The media plays a major role in this Revolution

It's due to news coming from China. This had already happened in the past, and it's normal for markets to react like this initially to such news. What we must do right now is to not panic and keep hodling, and hopefully the prices will return to their old status soon enough.

I think that the reason behind all of this is Chinese people cashing out their money for the lunar new year and thus bitcoin has  went down , it is much  similar to what happened in last Christmas but at a bigger scale and no one should be worried about all of this dumping because bitcoin has proved itself able  to grow back (even if it may take a little longer to do so this time ) .
People are more and more spreading FUD everywhere and any holder is having "on paper loss" at the moment , he'll be at a real loosing condition if he sells his funds for a lower price , therefore HOLD YOUR FUNDS !

The South Korean government already made official statement that they are not banning cryptocurrency. And the news about them have been hovering around and their statement already closes that page already. So I don't think it will be a big factor for today's crashed.

I also think that there is someone pulling a trick from behind, which the speculators and the newcomers follow causing panic and a domino effect. This will be just temporary, I'm sure that the market can recover again.

I think this is news from China and Korea.
Such falls were already after all the news about Chinese prohibitions appeared, but then Bitcoin increased everything in a few days.

There isn't a certain reason for this, a lot of people are selling right now and that is the "main" reason of why everything is down at the moment, but for me is a gold opportunity to keep buying as much as i can, i dont see anything wrong with this

Official prohibition of the Chinese authorities to trade bitcoin inside the country? If not, then this is another speculation.Many are ready to take advantage of this

so if countries decide to ban cryptocurrencies, it would be wise to invest in anonymous currencies now.
i think OBFS4 is impossible to track and even works in china.
is xspectre the only currency that has implemented this?

Because of the China and Korea ban, created fear and there seems to be many weakhands. After seeing the bullish market last month, maybe a lot of new people get involved in crypto market, the inexperience lead to panic sell. Don't worry, the price will be back soon.

Bloodbath like this is very common in the crypto world, you can make huge profits during this time by buying cheap coins, or play it safe: just HODL>

The global crypto market went down and not only bitcoin. Crypto market cap went down from $840 billion to $540 billion within a few days and I have honestly no idea what caused this huge downswing. On the other hand, if you consider that the bitcoin price was only $1,000 one year ago, the price is still good. And you still can use bitcoin as a payment method.

This fall is caused by another ban on China and Korea. They have already done this several times and on these news the market is falling. After they give up their words and the market begins to recover. Do not worry, all these events are common for crypto currency. ;)

Actually the rise and fall of virtual assets is a natural thing, especially the last few years every January there is a significant price decline. of course you know, JP Morgan statement, it brings considerable influence. Stay calm, this issue will soon pass.

The fluctuation is a normal thing for crypto most definitely. That's the reason why speculators are active in this market. But thia time the downfall seems wired. It is constantly dropping since last 36 hours straight without any apparent reason.

Last year, it was because of JPM statement but this year it is probably due to the China's crackdown on mining operations and South Korea's ban. It's better if the market start recovering soon, I have a big money on stake.

Chinese, Korea, always this two country's gov that keep on saying bad news. But actually, nothing is for sure now.

How about you read about stuff before you post shit on this forum.

They do not want to ban crypto, they want crypto exchanges to pay taxes. Is that something strange to ask them?

The main reason in my thought is that panic selling caused the downfall in cryotocurrency market.When China and Korea banned bitcoin or exchanges then other people also scared that their country also will ban soon so we need to make money from the bitcoin even if we face losses while selling.So it continues like a chain reaction all the people are continuing to do this strategy so the price is falling more

I think the impending decision of the Chinese government along side their forth coming Chinese New Year are major factors for this price decline.

A lot of reasons are posted above with different explanations about why bitcoin price is dropping now. For me, I will hold my bitcoin now because there is a high chance of possibility that it will increase again base on the graphs I saw posted everywhere. Besides selling your bitcoin will not give you profit because of the very low price now. Just hold and believe that it will recover again.

Some bitcoin holders are doing panic selling of their bitcoin or other crypto currency. Maybe because some are afraid of the news from social medias that governments are banning crypto currency.

On this graph it explains that bitcoin is always going down early months of the year and have come back again before the year ends.

Again, the news background from China. The eastern wind blew on the background of the fall of the crypto-currency, in order to aggravate the process even more. Nothing surprising. This has already happened more than once. The last time in the spring, when China banned the holding of ISO in itself, but afterwards put forward a refutation. Do not worry.

These are the possible reason why the global cryptocurrency market is down: JP Morgan created a FUD again, the nature of crypto market during mid January and bitconnect site is down.

The JP Morgan FUD, I knew this one is coming. since that it is January again, we have a crypto market dump during this time. And I believe that all markets are all healthy right now. We don't have to worry a thing. Back to JP Morgan's FUD, his team stated that cryptocurrency can be ban by governments. That made the price go down dramatically.

Another reason was the banning of bitconnect lending and exchange site. This made the whole market bleed actually. I heard that there was someone on reddit that invested a big amount amounting $500,000 and he's asking for help(advice etc.). Because that money was a business loan. That's his life savings.

it will take some time and for sure many of the weak hands will sell their holdings, for those reason behind the only thing that I believe is bitcoin and those quality cryptos inside the market will rise back so better to keep calm and hold your investment.