Bitcoin Forum

a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.

Other countries, like India, recently said that they didn't recognise cryptocurrencies as currencies and thus will prevent people from using them.

They are only concerned about anonymous trading. If you can anonymously exchange virtual tokens for government issued fiat money it's very easy to launder. Since there's a lot of cryptocurrency scams the scammers could anonymously trade stolen coins for cash and get away with it, especially if the stolen token is untraceable like Monero. I read today about a virus that just recently mined monero on infected servers. It's today's news. We can't expect the authorities to watch it all unfold and do nothing.

This is because the rumors about it happening are still there. Same situation with Indian government, they never said that they will ban Bitcoins but it was reported in media.

There is no good news. Only FUDs. Markets don't have anything to relate to except for that if FUDs.

Like India banning crypto while the real story is they don't accept it to be a legal tender.
South Korea regulating exchanges, but still a million people have given their kyc it seems.

Another not very good news today is the leading American credit card issuers to work with cryptocurrency assets against the background of their decline in their prices. I dont think that the BTC rate depends strongly on this news or South Korea, I think the impact on the rate of BTC comes from China.

Bitcoin falls not only because of bad news regarding the crypto currency from South Korea. Contradictory information about the circulation of crypto currency comes from India and China. But most importantly, in bitcoin, its shortcomings are still not eliminated - slowness and hanging of transactions and high commission fees. Because of this, bitcoin has already significantly lost in its popularity, as well as in the demand for it. Potential investors invest their funds more in ethereum and other altkoins precisely because of the shortcomings of bitcoin.

South Korea is not the only country in the world. There are so many countries that dislike the system of Bitcoin or Cryptocurrencies. The governments are scared of what can happen once they implement the usage of bitcoin in their territory. This is the reason why bitcoin is still going down in terms of its price but it can manage to go up again anytime soon. It is volatile, and if South Korea does let their country to use it, then other will do soon.

every new year bitcoin price dump.see the hiostory but end of the year bitcoin will touch 50k :)
so no need to be worried.

There are several factors which affects the price of bitcoin and cryptocurrencies including news, proposed regulation, market manipulation, speculation etc. At the moment they are all heavily affecting the markets in a negative way just as they were affecting the markets in a positive way a few months ago. This has happened several times and bitcoin has always bounced back. We are all expecting the same to happen this time around the question is just when.

Everyone has given good reasoning why the price is still falling. But what KellyCoin say that there is a bounce back expected is also quite true. We are entering into the Lower Lows from the last dip to below 8k - But we are all expecting the lower lows, so people sell. Weak hands are flushed out and those with balls of steel buy in.

Or those expecting it to bounce now, after the lower lows. Im trying not to look at the portfolio, because I know this is temporary and the market, as a whole, will bounce back.

Those selling, those are the ones at risk, as they might be hit by FOMO if they do not enter prior to the bounce, because when Bitcoin goes up, it goes fast.

This time maybe different. At all previous times bitcoin was below $1000. Within the last year bitcoin has gone as high as $20k. It's around 8k now which is still up 8x so it's really not down relative to 1 year ago. Nothing says it needs to go higher. You are deluding yourself if you think it's going to go up 20x like last year.

More people interested in bitcoin just means more regulation. More regulation just means less volatility for bitcoin. Less volatility means no more huge price swings to the upside.

I agree. Compared to a year ago bitcoin does actually seem very expensive. It's still an opportunity to take profits for those who bought before last October. Whether this opportunity will still exist in coming weeks will have to be seen.

Hope he will stabilize soon

When a new investor gets burned and loses money by selling at a dip he tends to get salty. He's angry at the whole world: his friends for not stopping him, bitcointalk people for saying it will go to the moon, trolls for trolling, fudders for fudding, whales for dumping... Last thing he'll think about is to buy back. He'll be afraid to lose more. That's why there's not a lot of buyers. In time they will come.

there are still many reasons why bitcoin prices fall,
other than korean north korean issues that prohibit the use of bitcoin.
and in fact although some countries are banning on bitcoins, bitcoins can still grow.
with the note that bitcoin demand should continue to increase.
because that's what can raise the price of bitcoin

The major reason for todays downfall is not because of the FUD news around the world but some of the major banks stopped the use of credit cards to purchase crypto currencies in fear of heavy losses as people are investing heavily maxing out their cards and so is the reason the market is going down after news came out about the ban imposed by the banks.

Reading some of the opinions here to check what others are saying regarding the decline of bitcoin price.


That's what trading is. Strong hands are few in that area.

Cryptocurrency price run not depend on true or fake news because the market will drop cause of panic sell although the news is fake like south korean issue.
So this FUD news sometime being used by whales to make the price drop and take the advantage from it.

yes, the bitcoin factor goes down not just because south korea ban and fight bitcoin, so although today korea does not ban bitcoin, its price is still below. meaning that South Korea's attitude to bitcoin is only a small part of the reason.

there are many more factors that make bitcoin prices fall, like increasing selling in the end of year 2017. and I think this is common every year in January, February, but I see this year going on for a long time.

My country too. They prevent to use crypto as currency but its oke to use crypto as investment.
Crypto nowdays just as investment tool and not as currency so this issue should not have big effect crypto.  But why all the price were falling down very rapidly? All about panic sell i think.

Because countries have unfriendly information about bitcoin, too much negative news, bitcoin's market has been volatile, and it does not rule out that whales are phasing out selling bitcoin in an attempt to control the price of bitcoin.

Majority of the governments are discussing this technology because it is secured and easy to access in anywhere but few peoples are easily invest in illegal investment so south Korea decide to fix the taxes.
 But still many hacking issues are occur in cryptocurrency and Chinese festival also affected this crypto market. So don't confuse this problem it will recover in few more weeks.

Some of this issues may really affect the current price of bitcoin. Tho I think that the current situation of South Korea towards bitcoin does not really affect too much of it's price. Yet more likely users now are starting to convert their amounts which then leads to sudden decrease of bitcoin's price. Of course they are more likely would have to take their profits.

Korea is not the major reason of the falling of bitcoin price. A lot of wrong information posted in social media why price of bitcoin drop. A lot newbie hodlers with enough knowledge  but hopefully price will back this month.


#Datarius

Now, the bitcoin market has become more fragile to market news as a result of the regulation policies and also under the effect of the futures market. However, we still need to have confidence as I don't think that the major countries will united with each other to regulate bitcoin and other cryptos as it is very hard for them to find a common interest for doing so.

Personally, I think some countries in east Asia are preparing for the Spring Festival in China!

The Chinese will take the money out of the deal and prepare for the holiday!

I think the market will be better in March!

Not only South Korea, but also other countries have recently announced the ban on bitcoin. Although none of these countries have promulgated a ban, the media will expand the coverage of the entire incident and will be banned even without the prohibition. This is a rumor that the dissemination of information has limitations, what is important is that the nature of bitcoin itself gives criminals the opportunity to commit crimes that affect the sovereignty of these countries, leading many countries to ban Bitcoin.

South Korea has nothing to do with bitcoin's drop. Nor India.

Bitcoin's price is correlated with the amount of new people coming into teh coin. That has dried up because the media keeps saying "bitcoin has lost half it's value", instead of "bitcoin's price is roughly where it was in October.

People don't buy when the price is falling, they don't see a bargain, they imagine it will go down further. They will only come back and buy when bitcoin re-establishes an upward trend.

That is not a sure news that it will go $50k.
But your taking about every new year bitcoins price getting low I support this talk.I saw the chart. But January month end, but still dumping, it's really worried us. At this time we should follow up the next month.

List of country banned BTC
https://www.fool.com/investing/2017/12/03/6-countries-where-bitcoin-is-banned.aspx


Reason why bitcoin fall

http://listverse.com/2017/11/23/10-reasons-why-bitcoin-will-fail/

Yes, it is one of the reason but there are many other negative thoughts about the market because bitcoin price increased a lot with in short period of time and in order to reach it's ATH it should consolidate before increasing it's price. This makes more panic about bitcoin and people are selling them in the market.

As always, it's just the market. 

Btc at 1 cent or at 100k a coin is a success.   It's not a failure or scam just because some people lose money investment wise.

This is an article from NOVEMBER 23, 2017 :D It was obviouslty made to stop people from investing 3 months ago, but everyone ignored it. It had completely no impact on the price that skyrocketed right after it was published. Do you know why? Because the article is dumb. It makes no sense and the author is proving to know nothing about Bitcoin.
For example :D
It was never made to be an anonymous currency, it was made to be independent and decentralized! All transactions are visible in the blockchain for a reason.

I like when that Wolf of Walstreet guy was on Fox news saying "Bitcoin is a currency made up of lots of other currencys".  lol
Another guest said "why are you even here?  What do you know about investing?  The only reason you are famous is because you ripped a lot of people off!"

ha ha

The bad news around the BTC continues. Every day another message in the world that crypto currencies should be banned. People lose confidence and that is bad for the price.
A few weeks ago there was no stopping on the way up and now it goes in the other direction.
I think the BTC price has now reached its real market value and will not go down any further. You will see we have found the ground

Because except for South Korea, there are still many countries that prohibit bitcoin, and the recent volatility in investment markets are particularly large, so I think bitcoin fluctuations are normal.

> south korea is not banning bitcoin
Coinpia, a South Korean exchange, has announced its decision to suspend depositing and trading at its exchange after it was unable to implement a KYC system as required by law. The government provided a tight deadline and expected all exchanges to be compliant by January 30th. However, for various reasons, this exchange could not do so: Exchange In South Korea Halts Crypto Trading Over KYC Concerns (https://bitrazzi.com/coinpia-halts-cryto-trading-kyc/)

Details of the Government Regulations
Since January 30th, the new government regulations have required banks to issue digital currency accounts to customers. That means exchanges will no longer be allowed to provide accounts to clients via their corporate accounts. This process was unregulated, and no verification took place. Thus, exchanges had no way of knowing who was a fake and who was real. Thus, their KYC policies were very weak.

Since the end of last month, everyone who owns a digital currency account has to verify his or her identity. This is achieved when an exchange collaborates with a bank. The bank is then tasked with the job of issuing these accounts. Some of the exchanges that have already done this include Bithumb, Korbit, and Coinone.

However, some banks are not so enthusiastic about this move. Some are not so willing to work with the digital exchanges. This is because they view the government as having a poor attitude towards them. For instance, the government recently threatened a complete ban on cryptocoin trading in South Korea.

I think there are still many problems with bitcoin price drops, not just south korea which prohibits the transaction of bitcoin, india and china also prohibit the use of bitcoin. But in my opinion there is still a bit problem of bitcoin price reduction, one of them:
~ News spread all over the world.
The layman who does not understand well about bitcoin gets severely affected by various positive and negative news spread across the media.
~ A situation where more bitcoin traders than bitcoin users.
It is understandable that being a bitcoin user is a bit difficult because the trader receiving bitcoin is still small.

It is not just the south Korean government's policies that affect the price of bitcoin, but many other factors.
For example, in Russia, India and China, there is bad news about bitcoin. These factors seriously affect the price of bitcoin.

I suppose the bitcoin price keeps going down because a lot of people are holding panic bitcoins because of this very fast price drop then they sell all the bitcoins they have because of panic. they fear prices will continue to fall and cause a deeper loss

i think that is not the reason.India media spread a false news,bitcoin is illegal.so Indians and other countries who hold bitcoins sell their bag.because of that bitcoin going down.And also still rumors spreading about bitcoin is ban in south korea.people who don't do any research before following any news sold their bitcoins to smart buyers.i think bitcoin is rising little by little now