Bitcoin Forum

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week :) https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

But the worst thing is that all these news come out after the fall, I think that serious players just speculate on this and all these news have almost no effect on situation in market

You have to know my friend that btc is the king of the crypto and whenever the price of it goes down the price of alternative coin go down either but soon it will back normal

Now whole market has a little down and in some case it was a problem which was connected to drop of bitcoin price, sometimes when king is falling, whole crypto is going down.

always what btc is down, alts go down

Binance incident was a hack,it isnt not just a rumor they have disabled the widrawals luckily that said their ass for their good reputation.Binance wont admit the it but they have already called those guys as hackers so it means binance was hacked,anyways phishing attacks are generally considered as a way of hacking stealing APIs from bots are bullshit,in the first place binance shoudlnt be allowing those bots in their system,it is their fault period.

About the binance's case, it caused by the 3rd party. As far as i know about that case if the majority of the binance users have used automated trading service rather than doing manual trade with their self.

The hackers were putting a backdoor to be able to send the amount from the user's account through API. We know that automated trading will always use API to do that.

I think right now a lot of negative news around crypto world. The thing with any market it's all connected and we've seen this many time over and over. It's just matter of time to see it green all over  ;D

It all had to do with some people who used a certain trading bot for binance. That trading bot converted the users' coins into BTC and bought VIA in order to pump it: https://twitter.com/CryptoTutor/status/971412221820620800. It was a hack, but only in formal terms, as it didn't have anything to do with Binance (they did nothing wrong). Also, this happened only to people who did not secure their accounts by selecting only their IP address as an IP whitelist (or something like that, I dont remember exactly)

Please stop eating FUD, but more importantly, spreading FUD.

Because the market has shown too much stable from the past few weeks that is why it needs corrections although news has something to do with these crashes,the market will always be unstable that is why you need to adopt in every situation in the market,do not expect the market will do good all the year,it needs to rest just like people does.

With the recent Binance Hack. Then the Mt Gox selling off the bitcoin and bitcoin cash to raise money for disbursements. Thus making all the reds in crypto now. We'll be seeing red for a little while i would say. The recalibration would take more time. June  will be the time when the market recovers. Y'all can read the article here. The man who crashed btc. Thus making all alts in RED> :'(

https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cash

 As for me it is a simple correction of crypto market, and now we can see the bullish trend and it is a great chance to invest in crypto  :)

Market will always have ups and downs,high volatility makes our market grow,the market has been so stable for couple of weeks and it seems it just a correction from that stability,you need to learn how to adopt in any market situation so that you wont doing panic selling because panic selling will only worsen the situation in the market.

The biggest reason is the news about Bitcoin market falling due to the dumping of Mt. Gox coins on the exchanges. The trustee handling the Mt. Gox coins has been dumping a large quantity of Bitcoins on exchanges which has been causing the price to go down wards. And since alts are tied with bitcoin, so when bitcoins dumps alts dump.

Maybe because of the FUD people are spreading after the Binance hack but if you will research further especially in Facebook groups, people there would say that the crypto market is creating another cycle. January to April, or even up to June will have sideways or dipping movements but after June or July, coins and tokens will reach higher highs because it's the cycle that crypto every year will experience.

It is one thing that has always come to play and most times too when bitcoin gains huge dominance from bull rally, it is normal to also see some other coins dropping badly as a result of that. However, for those who can play with the market, they will always take advantage of those moments for their benefit, so at the end, once the market recovers, we would still be swimming in profit anyway since this is not the first time we will be experiencing a huge red.

In my own opinion the down time is caused by the newbies in the crypto world. They get manipulated easily by some unconfirmed new and they sell their coins at a very ridiculous price.

Nice post OP although the reporter look rash I can ignore laughing. Putting kidding aside, I just hope that the downward moment is only temporary. This kind of bad news coming from the media really affects the price of cryptocurrencies. But based on TA the trading price for next week is 9,200 – 7,700 USD. If fud continue in BTC which we are all are hoping not happen, the price of BTC would be 6,500 USD in the 3rd week of March.

So  many negative news into social media against crypto world i think this is the main reason . people always follow the social media so they must be worried about that . i think this situation overcome in a short time so dont be panic .

There is no doubt that the influence of American policy for the whole world is huge, if the United States limits the exchange, so I think other countries will quickly take measures to limit the exchange, it is just what I worry about.

Why?
Read this news
https://news.bitcoin.com/japan-punishes-cryptocurrency-exchanges-suspending/
So i believe this time its caused by Japan then those who have no knowledge panic selling as usual.

maintain tight for extra sudden drops of diverse greater ICOs and crypto currencies/tokens/cash in 2018 awful 12 months for all digital unregulated coins/tokens, not like 2017 whilst BTC/BCH & other crypto currencies have been at maximum in October, no extra now again until 2d half of 2018, with any luck, cheers!

I see some negative news about bitcoin in different countries, I think this is one of the causes of unstable market for several days, I hope it will end soon and recover quickly

Now cryptocurrency price is very dumb because it is a business that means it is a start of the year so January February March it can be starting month for a new year so happy new year market will be down if you follow before you can see the total market prediction.

the correction supposed to be ended and btc was already trying to break 12k resistance ,but these resent FUD caused the crash.

Actually, can you believe that one coin went up in price while the rest went down? It's a new one by the name of CREDITS, went out and up the charts by 600% of its original price. Here's a video where you can see more about it :)
https://www.youtube.com/watch?v=W2qoSoYyi3E

Because the price of bitcoin is down. I think this is the biggest reason why the prices of crypto money have fallen. The other reason is that there are too many scam projects and garbage tokens on the market. The trust issue is very important in this market as well.

That's an interesting approach, and thanks for the compliment! Let's hope it does not drop that far away, although to be honest with you, the lower it goes, the better chances we've got to invest in it. If one thing is for sure, blockchain technology is here to stay, and eventually, prices will bounce back up (a lot of countries are investing in the blockchain technology). It may take a month, it may take a year, but prices will rise!

Because that is how the market works and you need to understand that this is just a comon thing to have,market wont go upwards all the year it might have some sideways or stabilized days or it might have bloodbaths which is the bear market that is why you need to understand the flow of the market so that you wont be panicking whem the market has started to fail.

I think the issue of news sentiment affecting market movement is always there.  Reactions to this sentiments makes the market. If the holders panicked and react in that direction this will trigger selling  pressure on the market and the market becomes bearish but if the holder react positively and hold to their coins there will  be no pressure on the market the price will remain stable.

Now a days bitcoin facing 11500$ stiff resistance , when it comes this level and again fall back but this time some bad news came it fallen. But in this post you have said " US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. "  I think this is good for the novice investors of ICO because the scam ICO might go away.And for binance hack news was the most important for this fall because now a days binance is hot favorite for most traders and investors, so as the news came of binance has market fallen heavily. 

Probably the FUDs that were spreading? the SEC's stupidity to announce their full regulations,what the heck will happen to our market ? bitcoin's chart is showing down trend and it is going to be below the current support levels,worst it will hit $1.2k again that is why we need to be vigillant or we could lose a lot of money in the next upcoming days.

It seems whales not entered into the market yet. BTC crashed and failed survive at the 10k support level. When support level is broken, most of the traders selling their positions. So price drop is possible. When BTC finds support level, buyers re-enter to the market.

mt gox unloading 1000's of btc dumping it from 16k to 10k in a short time, caused week hands to dump their btc and it all came tumbling down

find the real projects with real dev teams and long term you have nothing to worry about

I couldn't agree more mate :)

Crypto market suddenly went down due to series of FOMO, FUDs and fake news that's been disturbed the crypto world and this kind of droppings are pretty normal because as I myself is a proud Hodler and I survived a lot of market crash since last year.
Crypto enthusiasts are expecting the crypto market to recover every time the market crash.

These factors are exactly what's going on and I think this is the start to boost the market from mid-late this year. I believe this is a good sign that the whole world is waiting for something that can change the market

If anything will happen wrong then surely those services should be suspend by the government authorities , so I don't think these will give any big impact over the market of the cryptocurrency at all because in that way everything will be safe ( transparency ) .
But in my opinion the most big factor that I think will be the reason of the dump of the price is the hack of the binance , and I think In actual not was any fault of the binance regarding this thing but there was like mistake by the users ( I read about it in an article where it was mentioned that it was fault of the super only ) .
So we'll whatever happened , people just get into fear and go for the sell of Thier altcoins to make Thierself sure that there is nothing risky think .

The market as a whole is getting massively fudded and all that says to me is its a good time to buy. :)

I fully agree, it seems to me that this is the main reason for such high volatility.

I would not call that a hack. Get facts straight! Binance itself was not hacked, some accounts were and the hackers were only able to get into the account after a phishing incident that happened in the past which made the hackers generate APIs for these accounts and chose a good time to act. At the end, binance was able to get this and stop it without anyone losing anything, except that some accounts got their assets exchanged which they will have to exchange back themselves.

I think the banning of some countries may influence the orice of the coins. I think we should wait patiently for the bull market to come.

Yes it is, the market is strictly tied with a world news. Also high volatility of course , that's natural for that market. Just give it a time, relax and wait. Soon the price going to change 100%

The market can not continually grow and be in a bullish trend. The market needs a correction, which happens now.

Because that is how the market works,and it shouldnt be a problem when you are not so new in this thimg because you will get a long with this everytime,make it a daily routine so that you wont be  suprosed whatever happens to the market.Learn how the market works and im sure you can easily adopt to any situation in the market.

Prices goes down suddenly and abruptly due to FOMOs and FUDs, people think right then when they heard negative news about Bitcoin and Crypto markets.
They will then sell their Crypto assets out of panic so then if there's high volume of Bitcoin sell then that's the reason why Bitcoin will drop down and almost every altcoins will dive suddenly.

One thing that Bitcoin don't hike up due to some FUD articles that stating Bitcoin would go down up to as low as $6,000 so when we hear about it, we couldn't throw our investment into Bitcoin as most people do wait for it until it will soon go down as predicted.
That kind of FUDs are the worst and it causes crypto market to lay to it's lowest point that shouldn't be happening and at this moment it supposed to be worth 1 Trillion at least but the reality is opposite.

Price always goes up or down it is normal for crypto.

It's perfectly normal, and however it's greatly influenced by the many news that we do not knowing from time to time, but in essence we really need can be able to deal with these characteristic and keep trying to reviewing the price movements acompanied by many things that can influenced it. I think the point is we really can adapting with it and being optimistic.

It is difficult to say exactly why the local market correction takes place. In early March, there were statements from the Korean and Chinese governments about restricting certain exchanges in their work, which are quite popular. Some people began to panic and sell their coins.

 Sir, I completely agree with your economic opinion on the above issue and also believe that news is fundamental to the directional movement of crypto prices. Please holders should stop to panic when ever the market becomes bearish. Thanks

Exactly, the truth is that those whales always use the news to drive down the prices and I am not surprised as it happens a lot and it will always affect the weak hands at any point in time. Really, the market was bound to have a little correction after testing the $12k region and the news was only used to drive it down the more, but at the end of the day, I still expect that the market will bounce back anyway.

Well, it is not the first time FUD is going to always be fast in being spread than good news. First and foremost, the binance thing was a rumor and it was not hacked, and only those who ended up getting their account vulnerable as a result of phishing attack in the past ended up being the victim but nothing was lost. The SEC and the Japan stuff though is understandable, but it will pass. We always have that crackdown once in a while.

Good afternoon, I answer your question, see that crypto currencies have quickly entered our society, and since any currency requires legislative consolidation, then crypto-currencies must also be controlled by laws, but many countries are afraid of these currencies and therefore do not recognize, and therefore the price for tokens is low

Binance never gets any hacked, but it's just a human error because the majority of the people are getting hacked try to trade through amount through the automated trading software which used binance API and they can do trade directly to the binance exchange site and i think that has been exploited.
But mtgox becomes a big reason why crypto goes down too much.

this is the real reason

With crypto still in infancy, and the pervasive uncertainty around it, every outlying factor seems to be the trigger affecting the market, creating a resultant ripple effect, oblivious to systemic graphs and calculations.

I don't really know about the price of crypto price.
But i little know about issue of cryptocurrency.
Like, google block crypto ads.
China and Korean block Bitcoin and other.
I think thats why Price is so low and down again.

Because there are lot of happening in the world that not favors the Bitcoin like US ICO hearing, MT. Gox sell of, China ban, Google ban, FB ban and many negative media coverage that would create FUD to the investors. If these will continue, we might experience an ultimate dip once again.

I think the cause of the falling cryptocurrency price is because the bitcoin price falls, bitcoin is the base of altcoin. why bitcoin prices go down? probably because today there are many negative issues about bitcoin, for example google and some countries prohibit bitcoin, and so on.

Yes,  my friend you are correct this situation is temporary.  The reason why the price of cryptocurrencies goin down because cryptocurrencies as of now facing different kind of issue's. Like google and facebook anounce to ban crytocurrencies. And their are also biggest group of players monopolize the cryptocurrencies. And also some investor panic selling their cryptos. This are the reason why the price of cryptocurrencies declined in a very low price..

there is no need to panic about this situation and from some of the news that is summarized from several countries is about the problems faced by some exchanges and about the implementation of the rules in some countries this is not aimed at killing crypto growth. the purpose of some of the rules set by some countries as you mentioned is that in the performance of crypto would be better. the news is more on improvements for the crypto currency will be even better.

The news from US government has a negative impact on the market. It is unclear what form acquire the trial with the status of crypt and ICO in the economy.         

I heard the G20 could be negative to digital coins.

Somehow I am happy these things are happening right now  ;D
These are stepping stones for cryptocurrencies and cryptocurrency community to grow.

In fact, the price is moving in the permissible norm. Nothing terrible happens, you just need to focus on long-term investments.

Rumors about the binance that the exchange hacked but this is not the case, China sells confiscated bitcoins that were eliminated in 2013 and the plume of news that was in February!

I think you are right, the turbulence in the crypto space at this time will not kill crypto, instead it will make it stronger. I believe the market will recover and come back stronger for coins that have real use cases.

I don't think that news from US government are negative. In fact they didn't decide anything yet and still researching the cryptocurrency question.

Cause the cryptocurrencies are still tied to the price of Bitcoin and since bitcoin went down due to the MT GOX trustee dumping large amounts of coins on exchange, thus the alts went down with the bitcoin price too. All this can be blamed on a single person, the trustee with the keys to the MT GOX coins.

The fact that the prices for crypto-currencies from time to time fall and grow is normal. You need to be prepared for both falling and growing. Literally in a couple of weeks, sure prices will start to go up sharply. This is a crypto currency - here it is a normal phenomenon

Yeah , Here two to three reasons are that why bitcoin's and another cryptourrency market is going down .
The main reason the negative news about to ban trading and ICOs related ads by Google from June and second thing is the main reason I think because they are planning to make new rules about bitcoin and another cryptourrency use  , most of the people are thinking that in G20 summit they will give a negative results regarding about bitcoin , so there are lots of chances that price can get dump much , so before coming any result many people are feeling panic and selling Thier all the coins that is only a stupidity .
In my opinion we all of us should hold our coins instead to sell Because these are much better coins to have in this time and also it is better time to buy instead to get into fear .

I may be a bit late in commenting on this thread because it is true the impact of the decline that felt a few days yesterday really made everyone panicked but do not worry because of the results of the G20 meeting yesterday this gives a positive impact on the movement of crypto exchanges. and I see there is now a change for the crypto market movement that will continue to improve.

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Luckily for the market, Bitcoin seems to start getting good news. G20 just sorta gave the green light on it, saying it represents no risk, which probably made a good impact on the general market and made prices go up a bit.

Unfortunately, there's still a lot of grey areas, with strong rumors that Twitter might follow the steps of Facebook and Google, which will probably bring prices down a bit more...

Let's hope we keep on hearing good news through the following weeks. Again, here's a video for the latest news we gathered through last week that were relevant to the market :)

https://cryptocoin.news/videos/bitcoin-this-week-g20-says-cryptocurrencies-pose-no-risk-twitter-could-ban-crypto-ads-and-more-9337/

There was a strongly negative news background around the crypto currency. Many people were afraid and could not stand the pressure of the negative.

The market can not continually grow and be in a bullish trend. The market needs a correction, which happens now.

In fact, the price is moving in the permissible norm. Nothing terrible happens, you just need to focus on long-term investments.

hello dear, i think the market will always be unstable that is why you need to adopt in every situation in the market,do not expect the market will do good all the year. so you must be patient sir

The bales are withdrawing money from the market. The embargoes that countries put on. Prohibition of social media ads. It affected everything and we suffered in its consequences.

I think it was a lot of reasons, this including. The markets are also correcting themselves so any new FUD can affect then.

Every thing has  its time yeah maybe it is affected by  FUD or corrections but  one thing for sure is the law of supply and demand the higher the demand the price would simply high and vise versa,  because there are lots of people who dump at this point for a reason of uncertainty or just panic, but  the only thing that I will guarantee it bounces back for  a reason also, and  that's what  we are waiting for so just  hodl.