Bitcoin Forum

Tell me why Bitcoin prices dropped a few days ago۔ Let me tell you what the reason was۔

Because people sold bitcoin. And because of the law of supply and demand, the price dropped. That's it. Don't try to make theories whereas there's really no way to confirm if it's true or not in the first place.

Always many hidden reasons behind the bitcoin price bumping and dumping. We people are really looking for the exact reason for it. Sometime during go scam like exchange hacking vor something will make some big impact.
Other than that while you are looking bump big giants usually support it on adoption for it.

in my view, it happens because people need a lot of money to spend on Christmas and also holidays later this year. so I think the price reduction could be due to that, the necessities of Christmas and also holidays make people withdraw their funds from bitcoin and this is common at a time like this, the need for reasons increases.

This idea doesn't make much sense. It was said that China is also celebrating New Year's Eve when Bitcoin experienced a major decline. : D People sold their Bitcoins because they were going to buy gifts. Never mind, this is not a very logical approach.

People trade their Bitcoin every day, right? Both in bearish and bullish, people sell their Bitcoins. We must find something unusual that may cause a decline. For example, people doubt about halving, then they sell Bitcoins or they need much money for Christmas/new year/long holidays. Full-time traders may sell many of their Bitcoins because of those reasons.  

Need more specific thing, I guess.

I assume most people have no intention to make own theories. They just try to guess the reasons even if they don't really know about it.  :D

Every time Bitcoin is dropping or rising its price in the marketplace, people have this tendency to look for the possible reasons of such development. And of course, that is part of human nature. The latest "bearish" mood of Bitcoin resulted from the withering demand for it from the users and the traders and of course we might say that there can be some manipulations involved like we always heard anytime but that can be subject to a lot of debates and discussion yet nothing concrete can be arrived at. In other words, this is all about supply and demand but what are the things that influence it? Well, your guess is as good as mine. With Bitcoin, anything goes, anything can be the reason depending on which is one will stick and can be accepted by the many. As a very volatile asset, Bitcoin is always subjected to anything hopefully its very resiliency is tested by fire and arrows and it is still alive.

Bitcoin's price always has been volatile and there are generally a sharp decline before a large rise.
It's called bear trap where large investors inaccurately signals that the market is going towards a downward trend while they use the moment to buy for cheap and have profit on a bull trend.

right on point! if you will try to reason out on what have had happened, it will be a headache and you will find out that there's no accurate answer. everything is only speculation and no one can really pinpoint the reasons behind it.

I do not underdtand why there are still members asking all over again about the price drops of bitcoin. Since we all know that we are in crypto space where volatility stays. The price of bitcoin depends on the supply and demand. At some point good and bad news can also somehow affect the price if you can notice about it.

Few whales decided to sell Bitcoin in order to create panic.

Small investors started panicking and they started selling their Bitcoin.

Whales knew this would happen, so they again invested into Bitcoin at a discounted price.

This is how whales trade and make profits.

This is one of the reason why Bitcoin price went down.

You can speculate, but you can't know things for sure anyway. Because how can you know for sure? Are we going to ask every single seller in the world why they sold? Hence most of the time it's a complete waste of time.

That's pretty much the same thing lol.

People love to fomo/panic sell I guess.

Upon reading your post, I am expecting that you will reveal the reason why but I think you forgot to inclue it on your post. As for me, if you are really exposed and well-versed to Bitcoin and Cryptocurrency you will all say its the volatility which have so many factors. One factor of these are when the whales decided to control the market.

Whales or big players didn't have full control over the market, what they can actually do is to pull or push the prices a little bit with their massive sellout or buyout, and that usually accompanied by some news that might affect the market sentiments. If people will buy the news, then that would be the time the market would react depends on the retail investor's activity.
There were no certain reason why the prices are going up and down other than the supply and demand in the market.

Is there really any proper reason to get low or high of the Bitcoin price? I don't think so actually, I think there is also simple economics along with manipulation by big holders of Bitcoin. When the price is getting low then most of the people in this forum have a tendency to get scared and they usually start panic selling without no reason, in this way, the Average price of Bitcoin gets lower, on the other hand, some big fishes are trying to catch this moment and they are holding more Bitcoin at a low price. I believe this is totally intentional and manipulation by some people.

The main reason is because a vast majority of Bitcoin investors sold their coins immediatly after each other.
When many of them saw the price going down they started a chain reaction making many of them "panicing" and selling their coins.

The more price went down the more investors would start panicing and selling more.

Some people don't know how to handle the pressure between sudden big price fluctuations. So they follow the trend.

Besides that the major upset for a price drop start was due to many investors leaving some exchange (probabily due to Binance being shut down (https://www.theblockcrypto.com/post/47922/binances-shanghai-office-shut-down-following-police-raid-sources-say)).

Indeed, markets like this are going down, there are going up, so don't ask for reasons to go down, bitcoin prices keep fluctuating and the conditions are now going down again, I don't think this needs to worry about the decline because it could be ahead of Christmas and sell lots of bitcoin, so there's no need to ask any more reasons .
I will continue to look at market movements as they really look ahead and don't give incorrect analysis.

Always during the festive seasons, the price of Bitcoin and other coins usually goes down because many people want to cash out for holiday gifts and enjoying time and spending money with their families. Also, you have big sales that start in January, so many people do their big shopping also after Xmas. Also, we have the Chinese New year coming up in January as well, so many Chinese will offload tons of Crypto at that time, so I expect that is when the biggest drop in the Bitcoin price will come as when Asians dump, they tend to be very aggressive and dump hard. I expect a 20% drop in the Bitcoin price around mid-January, so I am monitoring now and when I get paid I will change my Bitcoin to tether, well at least 70% of it so I can be ready to buy at the bottom. You need to be more shrewd now and not the market control you, you need to go with the flow, ride the waves and cream the profits, as well as growing your generational .wealth

There are many reasons why Bitcoin prices fall, we don't know exactly why, maybe they sell Bitcoin to celebrate Christmas, or sellers are too much and buyers are less likely to cause price drops, or information. bad makes prices push down and there may be other problems.

ups and downs in prices is common in the exchange, the reason is the existence of supply and demand, but I don't know the exact reason, sometimes a news can also have the opposite effect, no one knows what traders think.

It seems to me that during the holidays, traders sell part of their money from exchanges and wallets to relax. This contributes to lower prices, and after a while, traders will buy coins more profitably and a new race will begin. Every year during the New Year and Christmas, the story repeats itself.

For no reason at all? I don't think there's any fundamental reason for the recent pullback. Just Bitcoin volatility at works. You can say this is whales manipulating the market etc. But I don't think this has to do with people selling Bitcoin for Christmas and New Year holiday. If that was the reason we would see the same trend every year, which is not the case.

when talking about market prices no one can find reason for every price drop and raise there are plenty of factors which influence price , some are traceable many are not ,

Not few days ago bitcoin have been dropped with lower price, last two years ago bitcoin have keep stable with lower price and never break above with higher price of bitcoin about $16k, maybe many people not trust for investing with bitcoin after they loss much money with investing when bitcoin have higher price.

Perhaps people are withdrawing money to buy gifts for Christmas. Possible decrease in activity due to upcoming holidays. There can be many reasons, but I am sure that this is a short-term phenomenon for Bitcoin

Fact is 90 to 95 percent of people loose money in their investments in stocks, bonds, etc.  As value goes up in greed they buy and cause the value to go up even more.  When value drops they panic and sell at a loss in mass and cause the value to drop further. Goes on and on like that.

Wealthy do not follow the herd and do the opposite - increasing their wealth further.

Do not follow the herd but instead do the opposite.  I know this because from the several hundred bitcoins I bought over 4 years ago (and got a like amount of bitcoin cash for free the following August) I used it to buy a million dollars in realestate in the Great North Woods of New Hampshire and still have a million dollars worth of it to cash in as I please.

By the way this is me:
ViamFec.com (http://ViamFec.com)
OdinMountain.com (http://OdinMountain.com)

You be the judge.

They are called factors not theories, though bitcoin market price depends directly on the supply and demand, buys and sells, but what we are trying to figure out are the factors in which we could dive deeper to understand why many people demands, sells, and buy cryptocurrency and bitcoin. Understanding this all will surely help us to better shape our decision and to might as well be prepared to buy and sell our holdings. So there's no way we could possibly make people stop thinking of the reasons.

there are a lot of people selling bitcoin because of holiday
some of them need to buy a gift for Christmas or some clothes for their child
that's why it's reasonable for a slight price drop.

The Bitcoin price has started to collapse yet again as there are more sellers than buyers ::)

https://www.forbes.com/sites/billybambrough/2019/12/16/bitcoin-suddenly-dives-below-7000-as-crypto-markets-lose-billions-updated/
https://www.coindesk.com/bitcoin-dips-below-7k-as-traditional-markets-flatline

Actually if you just do a quick search, you can find bunch of articles regarding this. It's a common behavior for crypto in general especially it's near holiday season as we are doing currently right now. Yet, Bitcoin is still pumping although it's quite slow in past 24h.

Nobody can really say the reason behind the drop but it is following the technical direction. We might see upward swing before the new year

If we try to look at it from a trader's point of view, when a price decline begins there's a need to find a bottom. A bottom is a place where people no longer want to sell. Traders look left at the levels that acted as support or resistance in the previous weeks or months and set their orders in proximity. The more traders see certain level as important and set their buy orders there the more likely this level will become the new bottom. It's that easy!

as far as I know, it's because of the surge in people selling bitcoin. they all sell bitcoin simultaneously, or it could be one person who holds a lot of bitcoin, he sells everything ... so the price automatically drops dramatically !!

This is definitely THE reason. Why does it have to be a reason? It is natural for prices to fluctuate on any asset on the free market. sometimes more people sell, sometimes more people buy, and sometimes it balances.

You can speculate all you want, but i don't think there is a "mastermind" behind any price movement. You (and everyone) are however constantly getting information in the form of price from the action of past transactions, and people can make educated choices based on it. This precious data is destroyed if the asset is artificially pegged to, whatever. This is why you must never trust "stable" coins.

There isn't really any special reason whatsoever as to why BTC dropped prices. It's just the basic logic of the market, the simple understanding of supply and demand of BTC. The price lowered because some traders suddenly sold their coins for a bit lower than the market price, which continued until the price drop then. But it wouldn't last long because a lot more traders want to sell theirs at a higher price, which brought about the return of the price to 7.5k and above. Then again, the price always wrestles itself between those whom want to sell higher and those whom want to sell lower, and this brings the supply above the demand, which also lowers the price.

The reason is because the selling pressure is greater, no one knows for sure what happened behind it.
What is clear is that I only observe what is happening in the market, not what is happening in the news.

It's simple.
Most holders are selling for the holiday. Many of them invested because they hope to cash out big time from Bitcoin before the year ends against new year. But the market didn't favour them, so they are selling.
Moreover its not a new thing, we have seen this act before.

   We have seen similar situations many times. People are lowering the price cause they need cash, and if they can sell for the current
price they will lower their offer, and more people do that, the price will go deeper.
   That is the live trading and open market, anyone can set up any price they want.

The answer is simple and it is because the buyers are overwhelmed by the sellers. The price of bitcoin bounce in the resistance few days ago and the now the price is dropping again but I'm sure that the buyers can take control and they can push the price to up again. Understanding the market and how it works is really the best decision in order to have an idea what happen to the price of the bitcoin.

Well I think that's not the main cause on why bitcoins goes dump since we already surpass with so many seasons and yet this year is worse than other years. And here I found some interesting articles which provably the one of the big reason why bitcoins dump these month https://thenextweb.com/hardfork/2019/12/17/bitcoin-cryptocurrency-price-dump-ponzi-scheme-plustoken/

True, but there wasn't much buyer volume at all to be overwhelmed. Resistance at almost every support level has been notably thin every step of the way since 10k, and even practically non existent from 8.5 to 9.9, which for me says much more about the inability of sellers to take advantage. Buyers simply aren't afraid of downward pressure because it's so weak and they're happy to keep adding and consolidating, for as long as there are months left in the pre parabolic phase.

It's a long game for them, they're super patient and I'm really happy for it too.

Nobody knows about the true causes of the rise and fall of Bitcoin prices... many say this is a game of whales. but the truth, the price of Bitcoin was created indeed fluctuating. If it is associated with rumors / FUD or even good news now it has no effect on it all, I guess. very different in 2017 where if there is good news then Bitcoin and Altcoin price will up. and for the moment I don't see that

Others would argue that the christmas time is well priced in in the markets. At least that is the same argument for the halving. You notice something ? ;)

Indeed! Price of bitcoin dropped because some are dumping their bitcoin and other crypto for the upcoming holiday season. It is the Christmas season as one of the reason why most people are cashing out. If you want to have some money or extra bucks if your salary is not enough then selling some of your bitcoin is the easiest choice you can make

I feel like if we have to look for a secret reason other than just "people sold more bitcoin than they bought bitcoin" we could assume maybe Christmas? I mean at these times of the year there are bonus checks and there are expenses, between thanksgiving and Christmas there is so much expense but after Christmas people get a pay check to cover all those expenses so they sell their bitcoin and spend it and use bonus for either buying bitcoin back or just keeping it?

I am not very well versed about the investment methods of other people but when you have a big spending to do and you know money is coming afterwards, selling anything doesn't seem too bad considering if you want to you can get it back. That is the USA system tho, I don't know about rest of the world.

Because there were no buyers, so the price of bitcoin fell quickly. But fortunately because the price has recovered at a safe level until now. $ 6400 which is a good support level for Bitcoin in the future, if $ 6400 is broken then I think the bad thing will come to bitcoin and this whole market.

Holiday season has been time when people sell bitcoin for celebration. I think this low pricing around 17 to 21 December has happened several times in the past. I expect a breakout in January that will make most of the holders recover the lost specially those that buy above $10,000.

May be because it is Christmas season, and holidays are coming which majority of people had to celebrate with. Dumping sa coins in exchange of buying something foods, material things, and some stuff may be for self-purpose or is it going to exchange with someone. Besides market ain't dropping so low it fights back somehow. So, Christmas season could be a minimal reason or may be not.

yes that could be the right reason, more people sell because they need money to welcome holidays and celebrations so the market price has dropped in the last few days. but I think in the near future there will be a recovery in market prices.

I am afraid January will not be as promising as this December... My provision from now until we approach halving is a sick stable price with a fluctuation less than $500...

The manipulators will try to push it upwards or downwards because people are expecting a move. Today we could have a taste of what they're doing. A fast pump and dump in just a few hours. They were just testing the waters now next time they'll try to push it a bit more and if enough people join the rally they'll dump again.
There's no real volume coming in now only manipulated wash trading. You could be right about the price being stable until past halving if we don't count manipulation.

As holiday season is present this month of December, let's expect more digital to fiat cash conversion. Many people will have to do cash outs in order to enjoy their money, on several spendings. We can't control that situation, because it's a celebration worldwide except for those who doesn't celebrate Christmas season. Price goes down eventually, and will regain it's value starting the start of the year 2020 same with what's happening from the start of 2019.

WTF?

Tell my why and then I will tell you why?
And then I tried to look at your posts history and all I see was posts for ICO's which you have joined in.
There is not even an answer to why?
This is just a nonsense thread creation. Pfft.

Bitcoin is an anonymous world, some like this thing while some not. Due to this anonymity, many bitcoin operations remain hidden. We can't say why it jumped up a few days back and now going back again. Apparently it looks like an artificial pumping by few big investors (whales). Such pumping and dumping have become an integral part of the crypto world.

It is expected already to happen every month of December due to the holiday season coming in most of them are cashing out that's why Bitcoin price is drastically dropping. In my opinion I think it is best to gather or buy more Bitcoin and altcoins during this period because the market seems to go down low in prices.

if there are no news, usually i will said that bitcoin pump and dump only in short time. Maybe it is because peope withdraw their profit and then get their holidays. Beside think about that, maybe my speculation is bitcoin price itself already stable for a long time, it is time to move.

None of these current prices are so low, we are still quite elevated in my view.   Over the last five years Bitcoin grew alot to get here, the price has been alot higher but not stayed there but this does not make here a low especially.
    The price going sideways anywhere over 5000 is quite bullish, thats always how I will view it.   It might seem too quiet and dull but its for the best longer term that we make a stable base in order to also achieve the higher prices when interest peaks on Bitcoin and crypto generally.   Whats really required is a large base and circulation of possible users to justify higher prices.  
  In terms of pure price action, there is nothing that negative going on especially and BTC gained over 2019 and disproved many critics even while pulling back this far.   Dont be too disappointed, its not that likely to only move in one direction exclusively - mostly this is a question of patience and time imo.

This is not a single day that we experience dumping scenarios, in fact, it happens almost all the time.
All of these changes come from their market flows, demand, and supply issues. I believe no other factors that may affect this change.

Some believes that this holiday only happens once a year so spending and giving is a natural thing, as not everyone is always given a chance to spend holidays in their love ones, I'm guilty of cashing out too this holiday for a gift and to have food and gives to some important people. Will try to earn more next  year as replacement in what I spend this holiday.

That's low percentage only and just an excuse just to have an extra talk with the season but I don't really think it creates an effect since in the first place people invest with crypto have money in the pockets and for sure majority now is saving for next year that's why it's really hard to think why Christmas is been attached with those. But maybe there are other cashing out but for sure they are not thinking about season since they regularly do it even if no season attached.

Loved this answer.
It was direct but it is also right.
There is nothing more to explain but just people selling bitcoin at the same time.
When that happened it looks like some event came but behind it is just people need hard cash again.  ;D

A series of holidays is coming. In Europe, business activity freezes in the first half of January. Many institutions, where there is no continuous production process, send their employees on vacation. People want fun and spend a lot of money. Therefore, a lot of bitcoins and other cryptocurrencies are sold. Supply is growing, demand and price are falling. This is logical. Traditionally, cryptocurrency will be able to rise in price already with the onset of spring.

In fact, for several years of my activity on the cryptocurrency market, I also noticed a general tendency for cryptocurrency prices to fall during the holidays and the holiday season, when people relax, buy a lot of gifts or plan some long and expensive trips.  Nevertheless, if we analyze the graphs of price fluctuations, then cryptocurrency has been in a downward trend for a considerable time and there are other reasons for this related to the outflow of funds from the foreign exchange market.

Suddenly Bitcoin price hike and fall; it's the nature of cryptocurrency. It depends on lots of reasons like demand, supply, market situation, etc.  But, no one can find the exact reason because of hiding the exact reasons.

Don't get surprised or even get shocked when the market dumps or rise. It is all because we live in this kind of market, the volatility effect seems to be usual at all times. I feel not worried about the current market status for bitcoin cause it was accepted already that we gonna have this sort of fluctuation oftentimes. It was just a temporary change, it will turn back soon in perfect time that nobody else knows about.

bitcoin suffer from bear trend since 90 days at latest ; low volume can be the cause of this drop ; and dobt forget some people or whale that want make money by dump when market was in situation stabilization for example when prices trade at level over 7500 usd

Should we really speculate the price for every $500 of a change in bitcoin price?

We are not in the year 2010 anymore. So I guess that should be normal by now.
7,500 is already a large amount and with thousand of dollars in pump and dump that just means something too.

We are getting more populated in the crypto industry and for me that is still a good thing as we want bitcoin to have dominance in usage.

not only a few days ago today bitcoin also declined. and I think this is common, especially since we are still in the bear market. so this is the usual decline and the value of the decline is also not large we don't need to panic. and also in my opinion the rise and fall of bitcoin doesn't need a reason. the rise and fall of bitcoin is influenced by demand and supply.

there is no bad news about bitcoin so no one will find the reason, because large investors want to see where traders buy support and where traders want to buy bitcoin, the lowest price yesterday almost touched $ 6000, each under $ 6500 price pushed back up, that's where we know where traders want to buy bitcoin, it doesn't seem to be under $ 6000, this is my mind from what I summarized from the experts in this forum, prices are still like this now at the beginning of the year just waiting for a change about the next bitcoin price

Various reasons and opinions about the rise or fall of bitcoin all make sense, but that is not necessarily accurate and the real reason.
we must realize that bitcoin is very flutuative, where prices can change significantly over time and various reasons for the decline in bitcoin can affect or not, and the rise and fall of bitcoin in my opinion is normal and will not always run smoothly and let bitcoin move with what we are will make us unaffected by the news or anything.

The reason why bitcoin's price dropped because of the law of supply and demand that everyone who buys bitcoin sold them that results a huge dump on the bitcoin's price, that is why if a lot of people will start to buy a lot of bitcoin it will result a huge bump on the price of bitcoin.

Bitcoin price dropping over the past few days is just the common market movement. There is nothing to discuss much, growth happens when there is more inflow of fiat. I believed the drop during beginning days of the month a sign of growth. Same as expected today the price has once again recovered crossing $7200 from which the market dropped low to $7000.

Indeed. It's pretty normal for bitcoin to dropped it's price so low in the past few days. Good thing that bitcoin is starting to recover it's price up to $7200. In my own opinion, the reason why bitcoin is decreasing it's price due to the law of supply and demand that a lot of bitcoin users are selling their bitcoin in exchange for fiat.