Bitcoin Forum

Can anyone help to explain why BITCOIN. Movement is now stagnanted?
Many people said Chinese new year is the cause of the downward movement of the market.
Please how true is this?

I think you should clarify your statement. Do you mean stagnant at the current 10k range? Because right after mentioning it being stagnant, you stated a downward movement. It's possible that it's been going down because of Chinese new year's, but I doubt that. Instead, I just think it has to do with a lack of news about bitcoin and cryptocurrencies in general. Nothing major has happened since we heard about a super large investor, but there have been small news articles here and there that slightly influence price. Nothing too big that could cause a full momentum shift.

It is stagnant because we have too many altcoins and regulations to come. If bitcoin foundation had patented blockchain from the beginning it could be different. Bitcoin could be $50k now with no competition.
Today any snowflake can duplicate blockchain and create new shitcoin.

it's not stagnant. but it's a bear and technical traders won't go and stay long till we get out of it

They say sometimes  that it is stagnant  because it doesn't walk or just stay in the price but it's not permanent value to

The price is not always going up, is not it? You should leave everything to time. Before anything else you have to guarantee yourself ,because that is what you have today but it may not be tomorrow, according to that if you need to make profit, you can interest with paper money, namely FOREX. In fact, you earn more money with crypto in a very short time, but I think FOREX is much better than crypto.

Yes it is true that chinese new year is one of the causes of the bitcoin price slide, but now that chinese new year is over, I hope bitcoin prices will start step towards the moon again in the near final end.

Because $10,000 is still way too expensive, especially now that there are so many altcoins with the same functionality.  Keep in mind that Bitcoin went from $200 to $10,000 and very few fundamentals have changed between 2014 and 2018.  No one has been able to demonstrate a justification for this rise beyond mania and FOMO.  Be thankful that it's at $10,000.  Don't be surprised when it falls back under $1,000.

It is not expensive considering how much more energy it costs to mine 1BTC. Prices must go up otherwise no one will mine bitcoin.

Chinese new year has no impact on bitcoins price because the time that it was about to come bitcoins price has just started and slowly recovering.Though bitcoin was banned in china pretty sure there were still holders of bitcoin in that country and holding coins was not the reason why it dumps.Maybe it does became stagnant according to your term maybe because of the whales that are manipulating bitcoins price that is why movement were becoming very volatile.There were also new in this forum that invested and when they saw the price keeps on dumping they did panic selling because of being afraid that they might lose their investments for good.

its not that simple
if pools drop off.. block solves take a lil longer than the 10min average for a while... then the difficulty drops making it easier to mine. and also with less pools, means that the remaining pools get a bigger slice of the pie.

..
the reality is that pools have mining equipment hashing NON stop. even if their pool has not won that particular block.
because there are only ~144 blocks a day. thats only 144 slices.

imagine if there were 144 pools of all equal hash rate. they would only get (theoretically) 1 block each.
imagine if there were 72 pools they would only get (theoretically) 2 block each.
imagine if there were 36 pools they would only get (theoretically) 4 block each.
imagine if there were 18 pools they would only get (theoretically) 8 block each.
imagine if there were 9 pools they would only get (theoretically) 16 block each.

so lets say 36 pools now and it dropped to 9 pools
each pool went from 50btc a day to 200btc a day

so even if the price went from $10k to $5k the income would be from $500k but then upto $100k after pools dropped off..

..
there are many facets to the economics of mining. but be sure mining pools will not all give up 100%.. there will always be some that mine
but i simplified the basics of mining pool economics, though could have gone into further detail in regards to how the difficulty drop also affects income

i think the Chinese new year dump was a real thing but not because of what people said about Chinese cashing out, but instead because of what people thought could possibly happen! and because of that fear they dumped themselves instead.

as for "stagnation"! you can't always explain everything. with the way price goes down below $10k (with constant dumps over time not just normal downtrend) i think some whales are not happy about their bags and want to increase the size of them so they are keeping the price down by dumping on exchanges...

The "stagnation" of the last couple days is directly tied to the mining difficulty increase, clogged mempool and heavy fees.

in my opinion, this is not the influence of chinese new year, because chinese new year is long over. I think this is still in the time of natural correction, so the price of bitcoin has not been stable.

so I see, this is due to many investors who are already bored with bitcoin, so they choose to go from bitcoin. spreading decreases and volume is also low.

but do not worry, because I'm sure bitcoin will wake up and rise again. many are predicting bitcoin prices in the year will reach $ 50000 more.

Fud news Fear Uncertainty and Doubt is effecting Bitcoin in very large way so market is stable with less movement we can see Bull Run some in may month

The fees ran up to about $35 per transaction.  Then everyone quit using the network.  Merchants disconnected all their support.  Many of the smartest people went off to work on coding alts.  Basically, Core ran everyone off and the network is falling apart.  But since there are so many morons praying 'HODL' - the price stays high.  For a little while longer.  Not much longer.  Ethereum will take over before summer.  Ethereum is actually a very strong technical system will loads of smart people working on it.  Core is a total bust of infighting and censorship.

Here we go! Day after day people keep asking question like anything but I do feel that each question should have the meaning. You guys keep asking the question when the bitcoin prices are unstable and getting wavy patterns over the CMC. Then again as the prices are not stable there will be threads asking why the bitcoin price is not stable and when the prices are again stable now, you will come up with stagnancy word and ask why it is like that. Lolz.

The reasons are simple and all of them can be correlated with the current events. I mean asking question is not bad but why we cant correlate them before asking. This will improve the thinking process I tell you.  :P

I believe that BITCOIN is not stagnant. Rather i believe it is more volatile than other currencies. The word stagnant can use if compete with other crypto. Investor faith on bitcoin more than other crypto. It recovers faster than other.

it may seem that the market stagnates. but in fact, he expects a portion of the news!

China, Korea, Japan and some countries are trading bitcoin. I am in Vietnam and my government also implements the above measures

As for me, bitcoin is not stagnant, it only moves in a sideways trend. There is indecision on the market. If there is any significant impulse, the market may move up or down.

Very high fees made everyone leave.  Now, there are almost no transactions.  Too many people are working hard to make alts and low fee versions of Bitcoin like Bitcoin Cash. 

Bitcoin was king for almost 10 years.  That is very cool.  Now the technology moves on. 

Even Greg Maxwell who fucked everything up has moved on.  Time for you to move on too.

And how would you like the price of bitcoin to constantly increase? You know perfectly well that this will not happen. It is necessary to wait a little more before bitcoin again began to grow.

I've heard people complaining about Chinese new year somehow causing a dip in the market, the same thing was said last February during the dip. However, coincidentally at the same time there was a lot of negative press regarding bitcoin and cryptocurrencies, so I really don't see how the dip is attributed to Chinese new year.

In any case, looking at the trends there are always periods of stagnancy, though cryptocurrencies are genuinely thought to just go up or down, there are of course going to be periods where they just trade sideways. You should always be careful in this situation though, as negative news in a sideways trading situation may lead to a decrease in price, whilst positive news will lead to an increase. At least the market is easier to understand when trading sideways, even if you're not profiting.

the whole market fell, no one really can tell what it's connected with and we just have to wait

Not sure how you can say bitcoin is stagnant. The week before last it fell from $11k to $6k, so lost half its value. In the past week it went back up from $6k to $11k again, so that's a 50% increase. These are incredible price movements by anyone's standards. So I don't see the price of bitcoin as stagnant at all.

I don't think so. Chinese New Year has little impact on bitcoin. The price of bitcoin has risen a lot during the Chinese New Year. And bitcoin isn't stagnant. It's always changing.

I really agree with you that Bitcoin is not stagnant, looking at the rate it drop to which was about 6000K during the period of the dip and now it has rise above 10000K, it cannot be said to be stagnant. A lot of factors might have contributed to it, including the banning of Bitcoin in China, bad press publicity about Bitcoin  and cryptocurrency, and possible  some whales controlling its price. Actually,  HODLING   just for a little while will  be the best thing to do , as investing in Crypto remains the best thing to do. The Market price fell and the fluctuations in the price of bitcoin may be use by some to  Conclude that it is  stagnant, which is not.

Nobody will know the cause of the downtrend, the Chinese New Year thing was speculation and will always be speculation. Also you say stagnant but we call that consolidating and that is a part of trading. Trading isn't always in a up or down trend, sometimes you have periods of ranging and that is exactly what is currently ongoing in todays markets.

Lol. Stagnant is quite the opposite of being volatile. Btc is highly volatile. If it becomes stagnant then we can all talk about it becoming a currency at this stage. Dude's probably expecting a big pump after the chinese holidays :D

The end of Chinese New Year had no effect on bitcoin. If anything it would have pushed price of bitcoin up as people would have dumped before the Chinese New Year and started accumulating again after the new year.

So that theory is really not working out right now.

It's stagnant, because the market forces are pretty much in the equal. We're hanging around $9k-11k with very little room upwards or downwards at the moment. I think that we're testing the waters with $11k right now, with support being established at $10k instead of $9k, which is why we're moving in a very strict range of prices.

You are right. I can sense that Bitcoin is now in a doldrums phase. While there is a good amount of excitement still existing in the Bitcoin community, there is also a feeling of doom and gloom at the sideline. Everything will boils down to what the general market is exhibiting. Hopefully after the first quarter of this year, we can see a rising Bitcoin due to new markets opened and new participants entering the Bitcoin market.