Bitcoin Forum

BITCOIN has suffered its worst day since February as the price tumbled, prompting fresh fears about the long-term viability of cryptocurrencies. So why is BTC falling?

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In December, the crypto reached a record high of $19,511 (£14,588), the culmination of the hype over the alternatives to traditional currencies. Today, the price of BTC dropped as low as $6,498 (£4,858).
This brings the downward slide for the year to more than 50 percent already.

Why is BTC falling?

Experts are citing various reasons for the massive drop in BTC’s value this year.
There are the issues of regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry. However, bitcoin and other cryptocurrencies have seen a sharp drop since South Korean cryptocurrency exchange Coinrail was hacked over the weekend. Coinrail, which is thought to have lost around £28m in the cyber attack, tweeted to confirm the hack on Sunday.

Shortly after, bitcoin saw its value tumbling by 10%. This latest attack highlights the lack of cybersecurity and weak global regulations of crypto markets. Coinrail said in a statement that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30 percent of the coins traded on the exchange.

The statement added: “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]."

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“Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies," the statement continues.

“For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.”

Korean police have begun an investigation into the incident. Bitcoin has been further hurt by damning reviews from industry leaders.

Bill Gates, Berkshire Hathaway's Warren Buffett and JP Morgan chief executive Jamie Dimon, expressed their scepticism of Bitcoin and cryptocurrencies again last week.

Warren Buffet has called BTC “probably rat poison squared.”

A few big names, such as  Twitter's Jack Dorsey and Apple co-founder Steve Wozniak, have thrown their weight behind crypto, but supporters from the finance world are a rarity right now.

In May, the crypto sector found itself under increasing government scrutiny when the US Justice Department opened a criminal probe into illegal trading practices that can manipulate the price of Bitcoin and other digital currencies.

Courtesy: www.express.co.uk

The price of the crypto market has dropped down and bitcoin price also dropped. It is very common, the price of liquidity-based markets is always worthwhile. The crypto market or bitcoin is dependent on liquidity. So here also the price will be grow up or down its normal. I think the crypto market and Bitcoin will turn around.

Worth an article. I think many of us are thinking much. BTC fallen because of the usual volatility. I suggest not t6o worry much though many of us has been loosing a great amount of hope and values. I suggest, please be patient and think thoroughly. Hypes, pumping etc will remain everywhere, as in a place like this volatile market. The news was interesting to read. Would like to know more from you.

Very good article.  I however feel this is all being manipulated down.  I feel that the bankers/elite are attempting a hostile take over.  This is the shakeout to get you to panic sell to them.  Once they have gotten all they can squeeze we will have a sharp rally which will not decline back to these levels. 

No one seems to understand what is really happening to the market. We all thought it was recovering, but now it is going down again.

If you are well aware of the market situation you would not say this. BTC is not falling, rather I would say it is having consolidation. The hash rate of BTC is at an all time high right now. Which means miners are still mining BTC with twitch the effort. Which in return will see a lot of increased demand for BTC among the investors in coming days.

I assume BTC is falling as a usual manner though it seems very high in rate. BTC market is evolving and this makes more chance in volatility and probability issues. That makes the market more looking serious falls and bull runs for BTC. ETF hype, news and over curiosity are the reasons for the falling of BTC in the market.

Actually I think rejections of bitcoin Etf as well as the banning of crypto currency by different governments are the main cause of such fall. Moreover rumors are also adding fuel on this. I think this will not continue longer.

The recent rejection of Wiklevoss' ETF caused the market to fall a bit which I think. However, the good news is, people have moved to mining again which will create increased demand among the people who want to purchase BTC directly. This will definitely make the price rise again.

Bitcoin is in a downward trend. There is more selling pressure on buyers. In an immature market like Bitcoin, there are more traders and individual investors than programmatic vital institutions and software that tend to reduce price volatility. And in developed markets, there is often little "FOMO" syndrome in the case of Bitcoin that increases asset volatility. Dilution of Bitcoin there is no other way Bitcoin has to divide itself into more coin types like Bitcoin, Bitcoin Cash, and Bitcoin Gold. When Bitcoin is itself competitive (in a way), it makes the market unstable and creates unnecessary noises. When players like Roger Ver, the owner of Bitcoin.com, use the site and influence himself to advertise Bitcoin Cash with his investment and beliefs, create a situation where no one is real. Know what to support and invest in. Especially for new investors. They must strive to monitor the development of the market. The dilution of a property is never good for the price, but it can be useful for the ecosystem. There are more funds for different technologies to solve various problems. This can improve the future of varying cryptocurrency.

I'm sure, the fall of bitcoin yesterday was due to the act of a PAUS who sold large-scale assets, which caused bitcoin to fall.
he did damb!

Growing some conspiracy theory vibes over there, mhm?

I hope that was a joke response, since it makes no sense for the "bankers/elite" to do that... :D

Maybe on some insignificant exchanges. The low was was 6900 on Bitfinex.
We have a press section on bitcointalk. Would you mind moving articles to that section so that they're not spamming bitcoin discussion?


What rejection? Winklevoss ETF was rejected months ago. This was only their appeal.

Very true. The rejection caused the downtrend from the $8000 we enjoyed just for some few days. But there's a lot of good news coming in everyday but its haven't affected the price to rise. Very soon all this will come together and the price will spike. November

This is an old news and some in the community was shock and would speculate that the price will sure go down, Back then the price of BTC was on a brink of going down because of the bear market, we think that the floor would be $7000 mark and the price will never gonna go down any further, But this news had hit the internet and maybe on the mainstream media as well, That floor that we are speculating about had drop significantly because of this terrible news, The price is still coming down I really this because of some fearful hodler that back down from a read market or ETF negativity about cryptocurrency was at fault.

It is being manipulated by big whales in the market. Not only BTC is falling down almost all cryto currency had been down since February, 2018.

It can be also down because of newbie in the market with weak hands that sell their coins when they see market is falling instead of holding it.

there can be severial reason behind of the price falling, so nothing can be specificaly identify but yes investors activities are also can be reason behind it after everything our patience and support is very important so we all are looking forward this from the users

This article pretty much sums it up for me. The regulators, the hacks, the ico's, etc. All of these factors are contributors to the decline in the price. When people are in doubt, they fear. When they're in fear, they panic. When they panic, they usually start selling. Supply and demand is the name of the game, so if you bring the trust back, people will lose their doubt and possibly reinvest.

Well,the curves are obvious but time will tell .bitcoin ETF has been one of the factors this year that is causing a lot of drawbacks in the market. If we are able to get over that hurdle,we shall entered a bull run that never happened in history .Things will turn around only time will make things right.

The fall took a pretty hard blow on us. But we need to see that bitcoin ETF and bitcoin itself are not related at all. The dismissal of ETF should not hamper BTC in any way, yet we have acted upon it. Let's hope thing will recover soon.

Crypto currency has been fluctuating in price values for over four months now, which is the bitcoin has been leading for a wide now and is the king in the crypto family, therefore the price of bitcoin and other alt-coin has come to let us know that is the right time to invest towards the community.

The SEC didn’t approve the bitcoin ETF submitted by the winklevoss brothers so many investors might be selling of their BTC. But we have seen an all time high hashrate in btc mining and it keeps growing which means that demand is increasing. There is also another SEC hearing soon regarding the ETF. I am optimistic that we'll have good news and will see btc price going higher.

I don't think it should be seen a bad signal that BTC has fallen, rather it has fallen due to the denial of ETF approval as of yet, but still remaining very high to the hash rate levels from miners, showing huge potentiality of demand consistency and bright future, for very soon approval from SEC. Once BTC, goes up which is very soon, altcoin will also come back to its momentum, as following BTC.

Aside from that, BTC was falling because lots of crypto enthusiast saw that there are some good crypto coins worth investing for, aside from btc. Last year was hyped year for btc because there are lots of news about btc that is worth cents before to dollars now and it was very pleasing to hear thats why lots of people bought btc and the demand was very high that the price goes up but as time goes by this year lots of ICO's been introduced and people bought this one instead of btc that is so high in price, expecting that it will go as btc in the future.

then how do you explain the fact that altcoins have been falling even harder during the bitcoin price drop? for example when bitcoin went down 5% each altcoin went down at least 5% and there were many which had up to 20% drop during this time.
if people were buying them then their prices should have gone up instead!

In this year, there are more than 1 hacking cases of cryptocurrency happened. Maybe it is the reason this year crypto market not yet rising.
Everyone in cryptocurrency will need to find the knowledge how to securing the wallet to avoid hacking activity.
Cryptocurrency value has been increased much in dec 2017, it must be attracted some bad peoples to hack.

Just wait and relax there could be another time for it to regain and show how truly bitcoin is and what it could offer to its investors. One should be patient and see how bitcoin will grown in the next few years of its existence or in the next few months of it. Since history may happen again and it could break another record for highest market price.

Relax, and cut some slack for bitcoins, this downfall was expected as people panicked on having the bitcoins etf rejected but this was not the main etf that would have changed but people are spreading the fud but just a matter of few days once people realise that the real etf of cboe is yet to get a verdict and it'll definitely be allowed the prices will shoot up.

I guess no one can tell the exact reason why crypto or bitcoin's price fall down we can only predict many reason and hoping that it will rise soon.

for that matter I do not know for sure and I know that at this time the crypto market is experiencing a very sharp decline probably due to lack of market transactions or other things that cause the market to decline but it is only temporary may be for future markets Crypto will definitely experience an increase, especially if the new investor investor increases it will make the market recover, but it will take a while

in my opinion, due to the fact that bitcoin and many other crypto-currencies at the end of 2017 showed a lot of growth, on the mass of people and the government, it made a furor. And for it we undertook very much, because of this we now see a long fall.

Bitcoin price is depend on demand and supply and if investors demand will be high for bitcoin & altcoins than price will be in uptrend but we can expect some hikes in upcoming months because if we see history of bitcoin price chart than bitcoin is increasing day by day but any currency can't stay forever on its high price. we will see some good movements in crypto market.

BTC is definitely not falling but facing a correction in the market which was long due. The hash rate of BTC is at an all time high right now. Which means miners are still mining BTC with twice the effort. Which in return will see a lot of increased demand for BTC among the investors in coming days and it will also bring back the Altcoin scene too.

BTC faced the slump due to the rejection of Winklevoss' ETF which was predictable, because of the hype BTC broke resistance level of 8k and now after the rejection it is facing natural correction. However, in my opinion the slump won't be long lasting as there will be more hearings of ETF in the next few months and it will definitely play a big role to increase the demand of BTC.

One of the reasons why Bitcoin is falling even up to now is because of the postponement of SEC Bitcoin ETF stuff. Because of that, the bears are taking advantage of the dip and may likely fall even more. Anyways, it is all about the long-term benefit of holding Bitcoin despite the fall.

A sad day . Prices are dropping sharply. Sadly for those who are keeping bitcoin.

In the beginning we had just crypto lovers here, people willing to try something new, revolutionary.
They all had very big expectations and hopes here.
As result, price generally went up all the time because of very high demand.
When ''big players'' realized btc potential and started their ''games'' here, speculations, sharing rumors and bad news, price went down a lot.
It's noting we can do about it now.

Speculative prices are always going up or down, and the market is going up or down like a wave, which may be part of the reason.

I think its normal in crypto world because it has a volatile character, but I think the whales are also one of the reason that is why the market are down after selling their coin at the peak price they spread negative news to make FUD and it cause panic to the small investors and the outcome those weak hands contributed to the dump.

Bitcoin falls in my opinion because of the issue of Bitcoin ETF, because the SEC has decided to postpone the decision of Bitcoin ETF until 30 September. These results were postponed and then followed by a decline in bitcoin prices on crypto exchanges since August 7.

I don't think it has anything to do with EFT, Bitcoin was doing fine without EFT, and i personally don't want EFT, because i like how bitcoin is decentralized currency and once big institutions allow to come with ETF, it will become like stocks market. And we don't want they control it.

Actually I av been having real assurance that the price will be better as 2017 December but with this up and down galloping it really giving me second thought. I hope the market recover from it slump

BTC rose beyond everyone's expectation when ETF news broke out. However, after the rejection it fell down again which indicates that it is facing consolidation. However, it has again come to stable state right now and hopefully the next trend, which is likely to be positive will definitely help BTC to rise again.

I think there are many reason behind it. And i am agree with your opinion. But i hope bitcoin is going to improve in upcoming days and go upwards.

Mainly the hypes are the main reason behind bitcoin is falling. I think the negative response by SEC is a big reason behind recent price fall.

I honestly think that the price may fall to 3k usd, many people bought in this range, it was after that amount that the price went up absurdly. We had two moments of euphoria last year, one was post Segwit 2X and another post BCash, at the moment the support in the value of the 2X is holding, but if it breaks will fetch the levels before the BCash fork.

From the analysis as far as i understand fluctuations often happen before bull run. I think the price will go upwards in future. Maybe it won't happen as we are expecting but the possibility is high.

I think there are several reasons behind the price drop. One of the reason is the BTC ETF. After that many people who has a short-term invest has sold out their coins. I think it is also a major reason.

Yeah i was quite disappointed after seeing the fall. I was waiting for the bull run but it is going through a bearish trend now. I hope it will recovered soon.

the key is bitcoin, because bitcoin is the mother of all crypto. when bitcoin goes down, the price of all crypto will drop. it is true, that the price of btc from Februaru continues to decline and does not show a graph of an increase. the reason for that is, whales who sell their btc in large volumes so that the crypto market becomes unstable because the selling volume suddenly rises.

I think the trend will be changed soon. Because the scope of investing is increasing and price is also low now. It will take time but i hope the market will go to bullish trend again.

For every time price fall there is always a reason behind it. Some times dumper caused the price Because the note they dump the more the price falls.

It is not a surprise that Bitcoin prices are falling when considering the major negative impacts Bitcoin is getting from every side of the world such as Countries making restrictions and some are banning , Centralized banks and organizations are getting against Bitcoin and false news that threatens the future of Bitcoin so due to there reasons Bitcoin prices got decreased   

Bitcoin prices goes down because I think mainly the holders are leaving Bitcoin investments due to the price problem and many other reasons. I hope this will not continue and if this continues no one will confidence enough to invest in Bitcoin and when Bitcoin prices goes down it makes the same effect on other currencies too which is really a bad situation   

I don't think that will be the case, we expected the bull market but know as you can see, everyone's doubting it and think it will postponed even further

Well theres no doubt why bitcoin right now is falling down it is due to its rise last month of 2017. Crypto coins only have two movements either rise or fall, what we need is the timing so that we can earn profit. Just be patient and dont sell your coins if the price is low. Just wait for the perfect time to earn profit.

Bitcoin price did drop during this year but it doesn't mean that it is crashing and there is no exact one reason which cause this because price fluctuations are common for any trading asset and it can happen with or without a fault but due to this situation many left the Bitcoin market and some was able to possess Bitcoin for very cheap and I have seen many experts say this huge price dropped was caused due to many rumors that were done by manipulators and also due to the pressure Bitcoin got from the outside world so Investors and traders were uncertain but even in those situations Bitcoin surviving skills were impressive     

This article was very helpful in my opinion. The market has been in a downtrend since the beginning of this year as a result of a lot of FUD news as regards cryptocurrency and this has made prices go down and many people sold off in huge losses.

In my views, btc has suffered huge dips due to panic selling from the new investors which could result more supply in the crypto market. Another factors were due to FUD and negativity for the news that could impact the  market price of btc. However, btc market will soon recover after the long bearish market we are currently experienced.

Also, there is a question of how and why it always manage to recover from falling state?

many factors influence the fall of bitcoin prices, I can't find a definite reason for this. so much speculation done by many people.

Bitcoins price dropped sharply and not just in Bitcoin but in other currencies too but due to many negative effects it had to face from the world and I think other than that there is nothing wrong with Bitcoin as a currency and some say that Bitcoin speed was an issue behind this market crash but I don't think it was impacted badly on Bitcoin than above mentioned reason but we should understand the world understanding towards Bitcoin is changing so we can see many industries and businesses are trying to connect Bitcoin with there core business processes and that can give a good place in the near future to increase it's price and expand more in the globe     

Reason behind the fall of crypto I think the ban of crypto from Google and also China ban and there are also many reason behind the fall.

In addition to the above reasons, the decline that occurred since February was also influenced by the confidence of investors and traders that declined so they avoided investing in bitcoin. Besides that, too, there is a lot of bad news about cryptocurrency in the world that exacerbates trust in bitcoin as a digital asset to invest both in the short and long term.

The crypto-money world, which has already had difficult days, was unfortunately shaken by this hacking news. I hope it was end.

Bitcoin is now specifically pulled down. There is very strong growth down, pressure from news sources. This is the goal ... there are people who benefit that at the moment the price was low. Then there will be a big increase ... this wave process has been going on more than once and will be repeated further.

It is right that crypto has fallen to lowest price and I think it is the worst day of crypto currency and there are a lot of reasons behind this downfall among them hacking and scamming is the best reason i think.

Maybe there is a specific reason about this, but bitcoin is keep on falling down. It hard to determine when it will rise and many people used to panic selling. Many of us thinks that this will be the end of bitcoin. I just hope that bitcoin can easily recover in the next few months

This is a good article that stating some reasons why the bitcoin is falling. I agree to this but we cannot sure what will happen in the future because I still believe in bitcoin that it will recover soon and will reach again its ATH. Let's all hope that bitcoin price will rise again.

Bitcoin falling is temporary situation but it is a major scenario that has scared even top crypto currency investors and countries like USA, India keep fueling the situation ignoring the bad effect on investors and the beneficial side of Bitcoin and for the positive side significant businesses in various areas trying to implement Bitcoin with there core business processes because tech experts know digital currency is something extraordinary when compared to fiat paper currencies so doesn't matter what the world thinks now the future will definitely welcome Bitcoin with open hand           

Most of the time Bitcoin falls due to panic sellers because new comers who are holding Bitcoin tends to sell there posses tokens even for silly rumor or news that comes through media which effects the entire market directly or indirectly and with the price fall many follow the same thing without thinking twice because today investors are not confidence like before about the Bitcoin future and its future existence 

Panic is sure to exist, because the price of bitcoin has dropped, but I'm sure bitcoin will rise again, the price of bitcoin has dropped because of the declining public demand and some countries that prohibit using bitcoin.

I also smile when they refer to some kind of experts, saying this or that. Experts in what? Definitely not Crypto currencies.  ::) If they were Crypto currency experts, they would have known that Bitcoin exchanges are not Bitcoin. <Bitcoin exchanges are not using the Bitcoin code, but rather some software that was developed by someone other than the Bitcoin Core developers>

The security flaws in exchange software cannot be attributed to "poor" security in Bitcoin code.  ::)

Also, comments being made by Bill Gates and Warren Buffet on Crypto currency, is of little use, because their combined knowledge on Crypto currencies are on par with the average "newbie" in Crypto currencies.  ::) <They might know a bit about the concept, but lack the detailed knowledge to make an expert opinion.>  

As we know bitcoin is in the leader board of the coin market cap, if this will be hit by this bear market season of red price value ,then no coin is exempted with the price falldown ,and that is why is cryptos are in price falldown then ,bitcoin price also will fell ,for bitcoin is the referrence coin of the market.

These numbers are very sad. We have to be strong and find new job :D. Huge manipulations, very interesting time. BTC create history news almost every month.

I think even few drops occurred in some occasions Now Bitcoin is recovering and getting stronger but slowly and I think it will never fall again like we saw in past couple of years because those days are over and people believes about crypto currencies and there existence is changing for better and that is why even many countries have open minds about digital currencies and there use in the local market   

I think whales manipulate the market, so the market falls down.

+ whales push people to sell on panic. Well, it's quite possible we're now somewhere near the bottom. At least if btc won't go outside the uptrend that it's in now.

Bitcoin prices are falling due to lack of involvement with the current financial and trading areas in the world which was difficult than most anticipated because still digital currency is a new concept to the world so there was a price fall but I don't think that is something any trader should worry about because we saw how bitcoin felt even low during last couple years but it got its price back and after that even most thought the price will rise to the last peak level withing few years we see bitcoin takes too much time than we thought but with its current progress in the business and financial sectors I hope it will gain the speed back and increase its price

 Some entrepreneurs say several reasons about why bitcoin price felt and why investors should not invest in bitcoin because it doesn't give any output but as traders and investors we know what kind of good things it has done to us during out trading journey so I think what bitcoin need is some positive truth how it can move in the future with other currencies and assets by helping the international transactions but that kind of positive news are absent in many places in the internet.

It can't be the same whales all the time. They had to sell so much to push Bitcoin from 20000 to 5000 that most of them are out already. The market needs to stay in balance if whales were to push down the whole time they'd run out of money soon and this is happening as we speak. Whale manipulators sold out and there's no more bear steam to get us lower. When those whales see it they will start buying back.

In the digital currency market bitcoin price seems to fail and that is due to media, governments and other financial reasons that we have today and among them government restrictions and media news are main reasons why bitcoin cannot grow as it want in the world to its full potentials and those two are the main reasons why its price is not increasing like we anticipated after its drop because governments use media to promote bad information to stop bitcoin from using it in the future and that has become a major reason for bitcoin to fail

Nothing to concern much about BTC current price drop because its prices mainly fluctuated due to the public view and because it is decentralized and no one has the authority to control its price which is unlike the central government controlling a fiat currency in necessary situations by taking essential decisions but for bitcoin there is no authority to take such actions and public view and confidence is a major factor for bitcoin price to change for good or bad and in last time that didn't happen in favor for bitcoin but it is changing for better and developing to its ultimate goal