Bitcoin Forum

One of the two biggest reasons for the sustained dip has been happening for 4-5 months and the other is a usual yearly downtrend which has been observed in Bitcoin for years now. People didn't know until this year because, in case you didn't know, Bitcoin wasn't worth 1k until a year ago.

Reason 1 - Tether. Tether is crypto cancer. 2 billion Tether has been released in the market in just 4-5 months without fiat backing by Bitfinex. Tether is used to pump and dump all coins at once. If you notice the volume, Tether has roughly 10-15% of total market volume in any given 24 hour period which is enough to move the whole market one way and then the other. Bitfinex uses Tether across exchanges to manipulate and monopolize market opportunities.

Reason 2 - Chinese new year is on February 14. It's the largest human migration of the year and a pretty huge deal, bigger than Christmas. A big dip during this period happens on a yearly basis.

Seize your chance and buy the dip, have patience and you will be rewarded once Asian money flows back in. Asia is the biggest Bitcoin market.

I tend to agree with your first point. I have observed that when bitcoin goes down, all others followed. This can happen only in a manipulated environment.

That may be the main reason for the current down trend. I have never followed this particular coin, but if 4-5 billions of coins are flooding the market and the trade volume is 10-15% of the total crypto volume, then it is easy to manipulate the market using pump and dump strategy. Even though I am not entirely sure about it, but that may be a possibility.


China's crypto community has already started filtering out from the crypto market. So I doubt this reason. Even though China is the second largest market for Cryptocurrency, but it's hard to believe that a county specific festival will cause such bleeding. It is not sounding convincing enough. 5-10% may have been possible, but going down to 9k level, is insane.

Still, this dip is another opportunity for us to score more at a lower cost and bring down the average buying price. I am sure investors around the world will do the same.

There are various reasons for the market drop in last few days. This crash is because of the series of the events happened at the global level.
1. FUD created in South Korea for Bitcoin Ban. But later it is cleared that south Korean govt has eliminated anonymity in trading and legalize crypto trading in their country,
2. Tether scam: Many accused that USDT is a scam and never backed up with real dollars and all etc.
3. FUD created in INDIA for crypto and Bitcoin Ban which is again a misinterpretation of Indian FM statement.

Teather that is one reason of price dropping =(
We need something good news and finish chinese new year to see always green markets :)

fundamentals are fundamentals !

technology havent changed ! if you are selling cause you bought to make a quick buck, please do

Yes you have a point that whats happening now with bitcoin trading market is being controlled and manipulated. The huge downfall started at the beginning of 2018 and is now getting worse. Rumors spread which has aggravated the situation and made the bitcoin almost half from its value at the last quarter of 2017. Another is the coming Chinese new year which we are all aware that they hold the largest investment in crypto market. As I always tell to my self, panic will not help during this down period, instead patience to be extended and if you still have some fund, it is good to buy coins at low at hold it till the market becomes highly active.

that's a very true reason, because in the Chinese new year there are so many people who need fiat money and many sell their bitcoin for fiat money to meet the needs of chinese new year supplies, and that's one of the reasons for the bitcoin turmoil.

If they made this FUD, not the other sources that misinterpreted the news coming from India and spread them around, it was a brilliant move. I heard the prices briefly fell to $5000 on some Indian exchanges. If you had some money there and managed to buy you made the deal of a lifetime. I believe Bitcoin will never again fall below $5000.

I think the one reason why bitcoin dumps its price in the market because of those country who banned it. Banning bitcoin in one country showed impact on cryptocurrency because investors from that country will not access into bitcoin again. Panicking due to this dump will lose you a profit. Wait until its price recover again before to think to sell.

It is impossible to prohibit the use of bitcoin. The government can prohibit the exchange of cryptocurrency for Fiat. Perhaps it may startle you. But for me it's not a reason to abandon the cryptocurrency. You can earn a lot of bitcoins and cash them in another country. But the most important thing is that you have forgotten about what each of you is a voter. Why don't you unite to change the government to one which is tolerant for bitcoin? Politicians should fear to oppose the cryptocurrency.

no doubt that it can also be a reason which is causing the bitcoin price to dump  more and more, but still i would like to say that in current time the main reason can be the panic selling of the inexperienced people, In fact most of the people who have less experience in trading they cannot bare the dropping of bitcoin any more and therefore they start selling which create panic in market but hope that it will recover very soon and we will see a pump rally in bitcoin price once again.

 Can you share the source of post? I am wondering if this can really affect to much on the valued . 'cause  perhaps this is not a FUD news and is tend to drop more before feb 14. Because of that reasons And for sure there will be another panic selling again for those who buy in the blood waves.

I agree with you at this point that Bitcoin needs to correct after the big ups in the last period "Health Correction"
There is no obvious reason for this collapse but the market needs to take out the false bloom.
All the wrong analyzes are trying to raise the price of Tether "Just like what happened with the Ripple"
China is a big player in this market but it has no effect.
see what happened after China's ban " was not as big"

On the one hand, we have people worrying about tether manipulation and since tether is traded against bitcoin on multiple big exchanges, if Tether can be printed out without any backing then obviously bitcoin could benefit as a result.

On the other hand, people are worried about regulations in crypto space, such as the strictening of rules in South Korea, India, and China.

It's not like we didn't know about Tether, or we didn't expect countries to do this from the first place. The only thing that explains this current drop is FUD and normal market fluctuations. I think right now is the dip to buy, imo.

all of it is true but the main reason in my opinion still is the rise itself. it was too big! and because of that people are panicking and the groundwork for this panic was set in place all through last year even when price was $1000 they were calling bitcoin a big bubble and compared it with tulips, .com,... and if you tell people (who are mostly looking for a cult to follow) the same thing over and over again through different channels they finally start believing it.
as a result we have a panic sell on our hands and because of that everyone changed their strategies from buying the dips to shorting the shit out of bitcoin which means more drops.

Whales are manipulating the market.
A huge rebound will happen soon

It will come back up. It will only take time. Let's see where the price is after the Chinese New Year and after everything settles down after the Korean and Indian events. Tony.

Tether is 2.3 billion, market cap was decreased in 100+ billion.

But there is small volume in the exchanges, so yes it is possible to manipulate the price.

Hence why the market cap is not a trustworthy number. They should have a market cap counting only the volume on the exchanges.

Now someone could say to hodlers to put their money there, just to apply pressure, but everytime a exchange get too much volume, it is "hacked" and people lost everything, so nobody is going to do that.

We need a decentralized model for the exchanges, so that people can apply pressure on it and such manipulation might not be possible. A decentralized model that counts all the blockchain volume at once, and can be accessed through the personal wallets.

Yeah... about that - China just announced that they will be blocking access to all the exchanges, local and international. So expect most of Chinese who still hold crypto to dump their holdings.

On top of that, major US banks + other (i.e. Lloyds Banking group, UK) are banning credit card crypto purchases (you can still use debit cards though), as apparently it's too risky for the customers. Weird logic, customers are free to get drunk go into massive debt by spending it all on whores & booze, but they can't buy bitcoins, as the value may drop.

I agreed though but for my theory is why the market or the reason why the market drop because of it's unstable price the demand on the market since low and since there's been many activities going on just like the christmas and new year , and then look at the price of bitcoin now. And we know that It will pump up again so just chill , and just ride it.

yes I agree, a lot of people told me if this situation is a usual yearly downtrend and we just need to be patience. since I know about bitcoin almost 5 months, this is the first time I see bitcoin price goes down significantly and that's enough to make me a little panic and almost lost my patience but I try to control my emotion and keep hold my bitcoin.

Just hold on, stay calm, do not panic or sell. Times will change they always do, just look at the stock market for that, check this link, https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets, there are something like 40 mentioned...... and it always comes back up again, always......

I think Chinese New Year is the last thing that can affect Bitcoin price. Mostly the news from Asia and crypto restrictions can make it falling down.

Those who are surprised by the decrease in bitcoin. dont worries because I think because of the chinise newyear that's just waiting for us after we see if the bitcoin goes down.

This could be the time where people try to see how many weak holders there are in crypto. Shaking out those people will cause the price to go up.

We'll see. Hopefully by march there'll be more uptrend than drops but i expect the market to move slower, similar to how its been moving before the december 2017 bull run. We'll get our all time alright, but those expecting it soon would probably have to wait a little longer

Many reasons why market drops that almost in panic selling. When in panic totally you will lose a lot if we don't know how to manage our coins. There is a good news may happen eventually in this market.

We have yet to see whether these events would affect the price of bitcoin negatively. As for now, the price has been at a slow pace.

Credit card companies must have been alarmed of how bitcoin's price has been in a downward trend and went down significantly a lot as compared to it's price level last December. They're more scared of this volatility then people drowning in debt because debt is something which they recover whereas loss from bitcoin is something that they cannot since it's not within their control.

 :-[ only I don;t get why it's always shown like fresh thread even it's completely not