Bitcoin Forum

Source - https://coingape.com/this-can-be-major-reason-behind-bitcoin-price-fall/

When I see the article that is shared by my one of friend , Is really good and worthy to Read .
But I want to more about Bitcoin Stability so thats why I share this here.

Please forgive me if I send anything wrong here.

Last three months? It falled to $17600 which was a very great resistance support.

All I can say now is to advice people to just buy and hold, there would likely not be much further fall below $17500, even if bitcoin price would get to that price.

My advice for people that have bought before is that they should never sell in loss, they should wait because the bulls will come after the bears.  The bears of today are the bulls of tomorrow while more people will fomo and oin also.

The article is from 7/9/2022, so it is many days old already, and in a volatile network like this, it is probably an 'old' news as a lot may have happened since then.

However the article doesn't have any new information, or something we have not read before, it is the normal statement of what 'someone' believes happened that caused bitcoin to fall. Whenever there is a rise or fall the 'news' tries to peg it to some particular reason that will be good for their channel, blog, article, etc, even if they have little proof that it was a reason for the price movement. Sometime ago every fall was said to be caused by Elon Musk, lol, market crashes no longer happen simultaneously with some of his fud talks, so people no longer write about him.
Bitcoin is volatile, for now. Weak hands start dumping when there is a crash, and they make it worse as time goes on, it is good anyway, winter periods like this helps to take out weak hands from the network, and in the long run with real bitcoiners, bitcoin may be more stable.
You didn't, no apologies necessary.

Currently $17,600 is support, not resistance but I believe it will be broken like $40,000, $30,000 and $20,000.

Resistances will become new supports in up trend.
Supports will become new resistances in down trend.

It is what $17,600 will become (a new resistance) when that support is broken and Bitcoin falls down to $13,000 (new support).

In the future, try to add more information about your topic and leave the choice to the user to click on the link (without visiting this link,)

for ow no one can understand what you are asking about without visiting the link.
As for the reason for the collapse of Bitcoin, if it is related to the price, this has happened several times.
As for the technology side, the network has been running for several years without a one second downtime.

It’s very simple, There’s a lot of traders that think the market is bearish that’s why the sell pressure is stronger than buy pressure. We don’t need to stress out about the specific reason because the real reason why the price keeps dumping is everyone is fear and selling there Bitcoin. The price will never crash no matter is the bad news if all Bitcoin holder will never be affected by the news but since most Bitcoin traders is easy to sway, The result is very obvious and easy to manipulate.

What goes up must come down.

I made this post May 21, 2021 predicting 20k BTC:
https://bitcointalk.org/index.php?topic=5338953.0

I wonder why a big deposit can be a reason why the Bitcoin price is decrease? It's true on September 7-9 there's a huge trading volume around $40 Billion, but why on September 12-14 when the trading volume around $50 Billion which bigger than previous, the Bitcoin price is increase? it should be decreased more isn't since the trading volume is big.

This is why those expert can't be trusted, they're just want to correlate anything that's currently happen and link it to Bitcoin price while it doesn't have any correlation.

If you have been around the crypto space you should know is something that occurs almost every season of the year so don't need to pressure over it again, all less you are new comer who don't know or have no knowledge about bitcoin can freely asked such question. Without this happening there will be no buying and selling, traders that feels uncomfortable with the market are selling off their bitcoin to the whales while the whales makes the biggest decision in the market one thing for sure is that whenever the market is dip automatically it affects the following altcoin market making unbearable for them rise, therefore we can say bitcoin is the mover of the market.

We finally are getting solid interest rates. Fed gov keeps raising them time after time.

There are 330 million usa citizens.

every one can buy 10000 a year in I bonds.

this mean 3.3 trillion a year is available at wait for it 9.62%

The I bond is a perfectly pegged stable coin so to speak.

It always pays in dollars.

as stable coins can crash and burn.

So why on earth buy and hold any kind of stable coin.

and no more eth mining.

The Genius Mr V.B.

ended close to 20 million a day in liquid rewards to miners that miners churned into the crypto economy.

he created 1.9 million a day in passive interest which is frozen till at least 2023 maybe 2024

Lets analyze this.

that 20 million a day was used to pay power bills lets say 5 million of it went for that.

So all the power companies take a hit which means they do not have as much income to spend on improving infrastructure and paying salaries.

Keep looking more gear need to be purchased to mine
So:

AMD
NVIDIA
INTEL
Corsair
Evga
Seasonic
Asrock
Asus
Msi
Biostar
Samsung
Crucial
Micron
Kingston
PNY
Bitmain
Innosilicon
Every crypto exchange all take a money hit.
and it attacks the solar industry .

We have built a 115 kwatt array
and a 260-280 kwatt array
and a 45 kwatt array
all using profits from gpus

The Genius Mr V.B.

pulled say 20 million a day x 365 = 7.3 billion a year

which churned multiple times all over the world

Take me clearing 200 a day or 6000 a month

Pay power 1000
Buy gear   2000
Buy Btc     1000
bank cash  2000

now clearing 30 a day or 900 a month

Pay power 1000 I am out 100 bucks.

So no gear purchased
no btc purchased
no cash banked.
and no arrays in the near future .

Now I have other gear mining btc and ltc and doge and grin
but look at the churn lost.

This is what hurt btc price.

Higher interest rates
Eth going pos

Higher interest rates will stop in 6 months or 6 years or something inbetween

Eth going pos is a complete and total disaster for all crypto coins

as it directly attacks POW which is the only reason to have cryptocurrency

Why did the price drop in 2015 to only $200, or why did it drop to only about $3000 in 2018? So far, the simplest explanation is that the halving is usually followed by a bull run, followed by a correction, and a bear market. 2+ years after the last halving, we are in the middle of a bear market, and now the only question is how much the price was affected by the pandemic, the war and, consequently, inflation?

---

It doesn't have to be like that, because even though a lot of people are now being tried to use the "merge" effect to attack POW, maybe it's only a matter of time when it turns out that POS is actually negative for that token and people realize that POW makes sense and that story about the effect on the environment is completely unfounded.

For me personally, POS can be translated as "proof of stupidity", and Vitalik and his followers should not be considered too intelligent if they agreed to destroy in the long term everything they have built for years.

No need to act timid OP, we are one big family. :D

I see that you are a newbie, that's why you haven't come across some other similar topics here in the forum where some other members had similar concerns about why bitcoin was falling. The advice I always give is that you should try as much as possible to avoid any news that can prompt fear and make your doubt your decision to keep hodling. Your decision to hodl should be your decision to hodl and you shouldn't care much about the news.

No one is blaming here this forum has freedom about Bitcoin information, up or down, we often see news about the reasons and factors for Bitcoin dropping, news like that is commonplace and we meet a lot on the internet, for example: Why Is Bitcoin Crashing? (https://zipmex.com/id/en/learn/why-bitcoin-crash/), you have the right to express your opinion about Bitcoin as well as with other people, the point is that the development of Bitcoin has recently been in the public spotlight on the phenomenon of the decline of Bitcoin, but all Bitcoin users have confidence in themselves, what should be done for the future, many Bitcoin users, sticking to the experience.

I think Bitcoin goes down and up, the big factor influencing it is buying and selling, where currently many are releasing and few are buying.

If I had a dime for asking this particular question everytime BTC fell, I would have become a millionaire by now. It seems like you are new to this market op. Let me help you understand how BTC rolls.

Positive news sends BTC skyrocketing while negative news makes it crash and burn. Sometimes, it goes up or down for no reason whatsoever. This is why it's regarded as an extremely volatile crypto.

Key point here is that BTC continues to move forward in the long run regardless of its ups and downs. Facts!

OP maybe actually a newbie because he's not even sure of the article his friend sent to be genuine or not, though seeking more from the forum members as regards the bitcoin price, now take a look back on bitcoin history, there you finds alot of volatility aeries that could clear your doubts about bitcoin price, when there's a dip in price, it does not stay for long but makes sone volatile moves round about that price range before major event cause the move up to a new all time high, so that's the design bitcoin price is meant to operate on being volatile.

Why Bitcoin is falling becomes quite clear if you look at the chart history of Bitcoin. Or any cryptocurrency. Or Stocks.

Everything that goes up must come down. Its just a law of nature and obviously when you look at gigantic pumps, like the one Bitcoin had on the monthly chart scale, you will understand the reason for the size of the correction. At some point the volatility becomes less and less and Bitcoin unexpectedly pumps into a new all time high. And then everyone buys in at the top and starts panicking when Bitcoin goes down again.

Just like now.

Not financial advice.

CDA notwithstanding buying now and holding seems really stupid. The majority of the people pumping this idea probably bought high and caught up down low. Buying now as it goes down just ties up your assets.

The markets are going to really get bad, Brandon has F'd us big time. So as these markets tank the thing we wish bitcoin was, isn't a store of value or protection from inflation.  It's going to go down more, sell now and contribute to the down and then buy back in when your comfortable. Holding and hoping is wasting future profits. IF your in the long term awesome, buy it and set a calendar date to go look it. Watching it short term while planning long will drive you insane.

Previous performance dictates future actions. "Believing" "hoping" "wishing" are not economic words to use.

Think about selling now and jumping back in 30% lower and how much money that is down the road when it at ATH.

I'm out long ago as I hit my numbers. If I was in now I would sell and set a CDA plan into the beginning of the second quarter 2023. Enjoy the holidays, family throw the ball for the dog.

 

Why Bitcoin goes down because the Pope is playing at the price of Bitcoin, so people who have weak hands will throw it away and the Pope will take it, then you will see the increase after the price falls, that is what happened in recent months, whether people pay attention to it also

All of these situations occur because there is excessive panic. If they stay calm and don't make rash decisions it will save you money from the whales. So it is better to observe a very bad market as it is now than to be in a hurry to make decisions that seem forced.

I did not read the whole article as it was published 9/07 which was a bit late especially for cryptocurrency market that the prices changes so fast, but whatever the reason is, Bitcoin would always experience bearish run and consolidation phase. This will help investors to accumulate more Btc or for new investors to enter the market at a good entry price point.
Bitcoin always works that way. If you have doubts on whether or not Bitcoin would still recover, then pleaser refer to the 2018 bearish moment and see how much Bitcoin have recovered in contrast with the latest ATH.