Bitcoin Forum

Bitcoin collapsed down by as much as $ 1000 per hour and a similar reaction for the other altcoyins followed. What are the reasons for this is not yet known. Most likely the general unfavorable news flow.
Applying sanctions to several crypto-exchange exchanges in Japan (until closing).

Probably fake news, people panic selling, people selling for profit then buying back when price is low.

Reason is that FUD are still here, so much fake information that lurking around the net thus it makes people panic that result in dumping their coins. If all the FUDs will get cleared after 2018 we can expect a healthier and Good market, but i think it will hard to happen.

That is happening often. Billionaires often abuse the news to scare investors with little experience. That would cause them to lose all their assets or lose a lot of money.
So investing in altcoins is really risky, we should be careful about the news related to cryptocurrency. When I realized the truth, I dared not invest in long-term altcoins anymore. Instead, I invested in short-term and made less money, but more secure for my assets.

Nobuaki Kobayashi, a Bitcoin whale, tweeted that he sold almost $400 million worth of Bitcoins in last 6 months. Added to that, the automatic trading APIs on Binance were manipulated which resulted in selling of altcoins from people's accounts and bots automatically bought VIA coin. This resulted in the rumor of Binance hack which in turn brought the negative sentiment and hence a FUD. Since, it was all rumor and charts were showing bullish signs, Bitcoin will recover back.

We cant say that surely if people are really selling for getting the profits or whether they are really going with this strategy.

I know the panic sell is going on for sure but im not sure if they are selling to do the "buyback"! The news is fake, yeah we don't know yet at all. If the news is fake then this is bad the people are believing such FUD's and working on their sells strategy !

They should not be dependent upon that one, they should be strong in such situations really.

yeah i too followed these issues .. wish bitcoin rises rapidly

It was caused by FUD surrounding an apparent Binance hack. Supposedly accounts were being compromised and making transactions without the owners permission. However, it turns out the transfers were just a software glitch, but the market still hasn't completely recovered.

Yes. Its totally fake news. What is your prof!

A huge withdrawal or dump of bitcoin. People panic selling, FUD, fake news. A lot of factors affect bitcoins bubble burst. But believing in it and continue hodling it for long is the way to success in bitcoin and supporting it. Even if bitcoin falls really low, invest more and wait for bitcoins magic to happen! It'll fascinate you for sure if you're new here.
Avoid getting tensed by hearing fake news, focus on finding and learning more about bitcoin.

There are a number of reasons and they are pretty well known.

Binance was exposed.

Mt Gox funds were sold to the market and contributed in large parts to the previous dips.

Japan (you hinted at this) is imposing some stricter regulation on exchanges and forcing some to shut down until they have better security measures in place.

US rulings around cryptocurrencies functioning as securities and needing to be regulated as such by the SEC.

Try to use your brain before making up some stories. What is the OP talking is back to 3 months, what Binance has to do with it? the hack? Binance sell-off was from malicious trading bot...
Japan isn't imposing strict regulations, you just repeat the FUD you read on the internet without knowing what's going on.
Japan like the SEC is just asking for improved exchange security

I think the sudden crisis and the continuous diminishing value make the butcoiners panic , because of the fear about risk most of them sell their bitcoins on a low price.

Whales have been abusing the power to scare investors away for a long time but it seems that people do not learn that is why they keep abusing the power and since people do not learn then the whales do not have any kind of reason to change and I cannot blame them if people keep falling for the same trick over and over again then there is no point in trying any kind of advanced tactics, they can keep doing what it works for them and get even bigger fortunes because of it while everyone else losses money.

Rising and falling bitcoin price is common, I am not sure the people still getting panic and selling their bitcoin In the low price because all we know bitcoin price down more than 50% before but bitcoin can recovered in a few weeks. When the price down of course many people Will buy bitcoin and when demand of bitcoin increase, the price Will rise.

Not fake news at all. It's all really happening, the sec regulation, the japanese regulation, the mt.gox sell off, these affected the market largely. The alts are in a way dependent on btc price, whether it goes up or down. Btc moving sideways is the best scenario most of the time for alts here.

Some information says that there is a hacking exchange so that public confidence decreases and result Bitcoin price has decreased drastically. But do not worry because the price of Bitcoin is back to the positive treck. Some rumor news has also affected the price of Bitcoin over the past 24 hours. I am a little worried when we all easily believe in information that is not yet clear, because sometimes this situation is often used by people who are not responsible and only aimed to gain profit only.

It may not be fake news, but the thing with fud is that the reality gets twisted in order to make something quite normal look negative. Most of the crypto related news sites aren't shy of such practices to make their articles stand out and attract clicks. From everything that has been marked as bad news lately, only the MtGox coins being pumped into the market is what I consider to be a short term obstacle for the growth. The price reflects exactly that, because as we speak, the short term demand isn't strong enough eat through the supply that's being pumped into the market. However, important to understand is the fact that the MtGox coins should have never been sold through regular markets. Regardless of how far we are in crypto in current days, nothing will be able to withstand so much constant selling pressure. The idiots over in Tokyo should have sold these massive batches of coins through OTC markets.

Several negative news appeared at once. Then you and the news from Japan that the regulators suspended the work of the two exchanges and the panic around the hacking of the Binance Exchange and the sale of Mt.Gox bitcoins by 400 million.

Generally the news is right when it was read from reliable sources and resonable, if Japan applied sanctions to some crypto exchanges, obviously the price of Bitcoin and the altcoins depended upon Bitcoin will decline. Because, the use of cryptocurrency will be prohibited.

That is a fake news and we do not have to rely on that. The price dropped because of these type of fake news and people do not search and start to sell panic which make them to lose a bigger amount of their capital. Japan do not make any sanctions on any exchange or any user of bitcoin because it si a legal tender in Japan and they favor bitcoin on a state level.

It not just Japan. Many other government for different countries are trying to suppress the trade of bitcoin and other crypto currencies by impose strict laws and regulations. Policies are being used to limit the trade of crypto currencies. China is now blocking access to sites related to crypto currency trading. All these are causing troubles to crypto currency, hence the price is falling.

There are many factors that are the reasons of these kind of drops starting from the manipulation of Media. The latter plays a big role influencing investors or the public's opinions. If they want bitcoin to fall, they can achieve it easily by posting articles that talk about the bad effects of bitcoin, they also can resort to famous people or experts so they can talk shit about it.

Added to that statement, many governments banned mining bitcoin or the exchange. And that has a big impact on the price as it automatically drops. However, the good thing is that bitcoin always regain power because its has many supporters.

The FUD had spreads right away and the effect has resulted in panic selling. It's only a rumor and yet the price goes down in just few hours. Everyday is a surprise in cryptocurrency, extra careful in managing our investments to avoid losses.

In my view there are two reasons why the price drop,  which is from fuds that always spreading fake news to manipulate the price in the market.  and from those weak hands that always panic selling when the price fluctuate. And that's why the price always fall dip because of that two cuases.  

This is not a fake news yesterday it was sudden dump is happen in the market. All the peoples are hold the investment only Mc Gox sell the 400 million in one transaction it is totally collapsed the crypto market. It will again raise in very soon so all are waiting to keep hold the investment this is the only way in current situation.

I think you'll find that's exactly what I said so maybe you need to learn to read a little better instead. At the time of writing it was unclear what exactly happened with Binance and that's why I said nothing more than that it was exposed, this definitely contributed in part to the fall in bitcoin price.

Lately an issues from mt gox funds was sold that it added in the price these days of bitcoin and altcoins drops so huge. Also other fuds contributes in the market that drops that others in panic selling. Many issues contributes in the market of not so good hence, being patience to hold can do better in the future.

IMO maybe panic selling from weak hands. Due to some negative news nowadays from CCN wich there will be a hard fall of price. But i don't believe on it because 2k is a worst dip ever and it's impossible i think.  And it seems a false news from the fuds. Don't trust on it mate just keep holding let those weak hands regrets after.

There are multiple things causing this. the SEC signaled that they would regulate exchanges (not really a big deal). Binance had a security breach (fixed) and MTGOX trustee has been dumping BTC on the market (continuing). People are still bullish in the long run but I'm sure we all want to see how low the price can go..so people are waiting to buy. If it hits 6K again, it will shoot back up I think.

FUD becomes the biggest factor of falling bitcoin prices. this is very reasonable, panic and perverted grievances that occur to make panic sell simultaneously occur so it is very clearly visible difference in the fall of the price of bitcoin

The news flying around presently now is the MtGox trustee dump on the market. https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/ It is crazy how he would try to make such an infuriating attempt on bitcoin and it is good he got noticed beforehand after selling a whole lot already and much more to sell. So far, he has sold bitcoin worth about $400 million and still more in billions to sell. That dude is cruel!

People will always panic for no reason anyway and you would not blame them, most especially, let's face the fact that traders are more like the market makers and if a huge dump is going on in the market, you would not expect them to keep looking and not take advantage of that. So far, bitcoin has been down for so many reasons that is going on but the major one coming from Kobayashi and if you Google that name, it would ring a lot of dumping bells on the internet.

I would not consider him a whale, as he is just a stupid attorney and trustee for MTGox that would rather not do what is right and probably prefer to dump on the market. The market is holding up strong anyway and I see no reason to panic, he can keep dumping it and we are looking forward to collecting more. If he decided not to auction and he really was so happy tweeting the rubbish he did online, then I really wonder what planet he must have come from.

It will, because little issue like this cannot cause a problem for bitcoin. I guess traders are already angry with this guy for dumping on the market, and since that is the path he has chosen to take, we just have to wait until he completes whatever he wants to do if he does not end up going the auction way. It is insane though to have done something like this and at the mention of that MtGox name, there has always been a problem.

It is true that persons panic but it is not for no reason whatsoever most of the time they have a reason behind their behavior and that is because the wild movements that we see in the market and when you combine that with inexperience then you have a recipe for disaster, those investors that put their money in the market without really understanding the risks are the ones that are more likely to panic and to take bad decisions under pressure those a of us that understand very well what we are doing have a lower risk of doing that.

There are so many factors that are responsible for the recent market fluctuations of Bitcoin and other altcoins value of which some of my mate here have mentioned above and i want to add that WALE taken profit or selling off was one of the major factor in addition with panic sell and FUD.

This is normal, if you were not expecting this after that bitcoin came from $6000 to more than $19,990 in just a few days, then the best thing that you need to do is uninstall your browser.

Came on, this is not normal! In which world were you expecting to see huge rises in just a few months?

Because most of them really thinks that bitcoin will continue it meteoric rise but quickly frustrated when it all crushing down on them. I agree that its so frustrating to see the price going below 5 figures, but we need to understand that there are only 2 ways: GO UP and GO DOWN.

And its really up to you, on how to react on those circumstances, if you panic and want to get out because the price is going down so SELL.

But in the likelihood that you want to hold because you know that bitcoin is resilient and will increase specially at the end of the year then HOLD.

There is no secret. And it a matter of choice. Choose what's best for you.

Cruel indeed but I would not really bother about him for now anymore. If he really wants to dump, he can be my guest right now and in fact, some of us really need to get what he is holding at a very good price, so he is free to sell them to us.

The main factor in the market is that if supply is more than demand, there would always be a drop in the price, and for him since he has decided to do his thing on an exchange where prices affects generally, then his supply is more than the demand from those exchanges which is causing a lot of this.

Good point to be noted. But where I always get to have a problem is when they are panicking for no reason like you have mentioned. Kobayashi does not actually care what happens to the market and everything with MtGox generally has never come with positivity, but at the same time, he has decided to dump and since we already know, I expect people should use the opportunity to allow him and if he decides to use his stupidity to drive the market down to give us a good price, then we are fine buying it.

FUD is always a very big factor of any market but since cryptocurrency is new, then we absolutely should have expected that there is going to be a lot of it for the fact that it is disrupting a lot of things and stepping on toes, and also for the fact that there would always be weak hands in markets like this. It is a market and we just have to understand that it is normal to see downtrends once in a while.

Newbies come and newbies go,

 And Newbies fear the FUD you know,

But I'm HODL through thick and thin,

 Fear not the FUD and play to win  ;D

Many reosons are behind the current collapse of Bitcoin.
Mainly, fake news aginst cryptocurrency, also the huge number of BTC sold by Mt. Gox at low price, also the fear from what will surge from the G20 summit.

Generally speaking, at the summit of the Big Twenty global questions about the dangers of peace are being solved. Do you really think that a crypto currency is such a danger?

Cryptocurrencies are really a risk for governments we cannot deny that, you must remember that governments are control freaks they want to have control of everything and they never feel secure until they do and cryptocurrencies are one of those things that it was designed specifically to counter this, so they are never going to feel 100% secure about cryptocurrencies.

I think this is still normal because the price of rising and falling bitcoin very quickly do not be afraid when the price drops to more than $ 1000 because it is definitely the price will go back up very quickly.

Dips, corrections are normal and when bitcoin starts to move quickly and reaching it's new ATH everyone isn't complaining. But when bitcoin starts to show us some bad price then everyone is keep on complaining and asking thoughts of other while on this situation. Guys, you should not worry if bitcoin goes up or down. Before getting to the market you must understand on how volatile bitcoin is so that you will not be surprised if it pumps or suddenly it dumps.

I think the G20 will help bitcoin to recover as they see cryptos as an asset rather than a currency and with this the alts and bitcoin is in green again and recovering somehow.

Hope more good news will come by now.

all those huge prices for Bitcoin are just soap bubbles, but no one said a specific price for Bitcoin, the figures that would have been fully justified.

Yes, but we should wait untill July and see how they the G20 and the regulations will affect the market. Many people are still hesitant to invest in cryptocurrencies.
You are right about the current effect of G20. Seems that the price is recovering. But there isn't a long time until July. So getting closer to July, some people will panic and bitcoin price can fall.

The media is influential but I have noticed that lately more and more people are ignoring it, the reason the price goes down has to do a lot more with practical reasons, the price went down because of the huge amount of coins being sold in the open market and then the threat to do it in the future as well, this has lowered the price and now that has ended the price is slowly recovering, some people think that this is because of the G20 statements about not banning bitcoin but I really think that this is just because things are going back to normal without the Mt Gox person selling thousands of bitcoins.

People ignore bad or fud news when the price is no longer going down badly. It can't be seen as coincidence anymore that fud pops up either at the moment a correction is taking place, or about to take place. It's perfectly timed to 'damage' the market as much as possible because of how easy to manipulate people are when the price is going down. Fud has the most effect if it happens before a correction. If the market indeed happens to go down after fud has being pumped through the market, it will serve as a 'confirming' factor that it is true, and at that point the manipulators know they won the mind game. It's a game that's being played here at the end of the day....