Bitcoin Forum

Despite Good news coming from bitcon this days, the fall still continue..... Can one help identify the reason for the fall?

If we compare, then there are more negative news around the bitcoins than positive which affected the price and created uncertainty in the market . Below are few examples of negative news for your reference.

Recently china announced to complete crackdown on crypto exchanges;

https://technode.com/2018/02/05/china-ban-block-cryptocurrency-trading-at-home-abroad/

then they announced that banks should stop financing the crypto projects.

http://www.scmp.com/business/banking-finance/article/2129645/pboc-orders-banks-halt-banking-services-cryptocurrency

India announced to curb the illegal use of cryptocurrencies.

https://www.theregister.co.uk/2018/02/02/india_to_ban_cryptocurrency/

France and germany are also demanding to clampdown the cryptos.

http://www.telegraph.co.uk/technology/2018/02/09/france-germany-demand-bitcoin-clampdown/

many prediction from pros it will continue drops till 7k-6k, maybe after chinese new year it will back to the bull

Maybe the recently hacked crypto exchange (BITGRAIL) that hacker stole 170 million dollars  news (http://bitcoinist.com/bitgrail-cryptocurrency-exchange-hacked-170-million-nano-allegedly-stolen/)
or just a profit taking strategy by the whales so the Bitcoin and Altcoin price fall  >:(  , just my opinion ;D

besides because chinese new year, maybe many people are traumatized by the decrease of bitcoin price, maybe they prefer to wait for bitcoin price down again, then they will buy bitcoin. many causes of the rise and fall of bitcoin prices. but I think the bitcoin will not go down again to $ 6000...

As others are saying Chinese New year is about to come so there are beliefs that this is due to it and plenty of Chinese are cashing out just to spend it for that upcoming event. AFAIK, it's part of their belief and culture that every start of the year there should be plenty of money on their side, pocket just to make this whole year prosperous.

Market recession is the main cause of fall in bitcoin price ...
And the other reason is hacking..

As far as I know, there are huge companies whom are onto crypto-tradingand those who circulates it had been hacked which cause a drastic downfall to Bitcoin price and exchange.

You will have to go back more than 2 months and realize that it really wasn't a fall. December and January were outlier months, with the price shooting up from under $10k to $20k and then correcting violently. Other developments, like launch of futures and correction in equity markets also contributed to the drop. Now we are witnessing mostly sideways movement.

nobody can help you identify the reason because there was no "fall" as you said to have a reason.
price is currently at $8300 according to Bitsamp and the changes in the past 72 hours (3 days) are less than 7%. you can not call this "continuation of the fall"!!!

It may continue to fall if it fails to break above $10k soon. It failed to break $9k so this is a bad sign for the bulls.

I don't try to realize the reasons behind fall or rise, I do only that  all of the people invested in cryptocurrencies now are going to get what they deserve probably in 2 years. Bitcoin will fall more, this is very clear I can't be optimistic about that.

Obviously a lot of country are banning bitcoin and i guess this is the main reason why the bitcoin is market value is going down and for that reason negative new about bitcoin is also coming out that persuade a lot of holders to seel their bitcoin causing a panic selling and as it continue to goes down a lot of holders panic sell their bitcoin meaning as they sell their bitcoin the market will be dump more because of their and continue to a cycle thats why the bitcoin go down.

Due to recent did news like China banned cryptocurrency entirely and Indias finance minister statement made in budget misinterpreted by the media and US Senate hearing.

All came at once. So Bitcoin reached its bottom on Feb 6th but renounced

Everyone said it was because people had to spend money for xmas.

I said its cos the bubble burst.


Now people say its chinese new year.

I say its because the bubble burst.

This fall is due to some hangover on some fake and FUD news spreading while newcomers doubt the credibility of bitcoin. We cannot blame those new investors because we did not fully understand the risk but in a long run they would probably believe in the things that blockchain can offer to the society.

Not sure of other countries, but i recently heard FM of Indian commenting on btc in some new channel. He said that it isnt made illegal yet and some agencies are still discussing on whether to proceed with it or not.. So there is no exact words that came out from India specially. They are still in same situation as they were before..

I have a strong suspicion, maybe this decline is due to chinese new year. yes, many chinese will convert it into local currency. yes just my opinion only.

No one knows for sure。 But I know that there is bad news about bitcoin in South Korea and China, and people are panicking about selling bitcoins and causing bitcoin to collapse.

I tend to agree with BitcoinHodler here - I'm no TA expert but, as far as I can tell, there aren't that many red flags at the moment: sure, we're not going through these levels at the same (rocket propelled) speed we were going back in November / December; on the other hand, we seem to be forming consistent higher lows and higher highs on higher volume than before the $6k bottom (quite bullish, I think).

I would start getting concerned if we break the higher high / higher low pattern we're currently in though (anything above $7725 is still a higher low, and anything reaching above $9075 will be a higher high (Bitfinex prices)).

I don't think the news will affect the market price to the big extent because all the news and announcements are already discounted in the financial markets like Crypto market, Stockmarket and forex market. Just like the good news coming on the weak market doesn't help it to move upside same way the bad news cannot releasing in the good trending market cannot make it helps to move down. It all depends on the technical demand and supply in the market and it also depends on the technical trend. Till now the bitcoin market was moving up and so because of that reason it was expected to see bitcoin to fall no matter whether the news is positive or negative.

We have observed a very high growth until January, and as you know, strong growth leads to a strong fall. Ordinary market "swings".

the fall has been over for a couple of days now, we are now in a consolidation phase most likely and all the small rises and falls that you see are normal market fluctuations that has nothing to worry about. as long as bitcoin stays between $9500 and $7500 nothing will change. if it breaks $9.5k with good strength it will rise up to break new records soon.

so keep your eyes open for these targets and the next ones that come after them.

One of the reasons for the low price now - Chinese new year. People are selling bitcoin and crypto-currency and withdraw in Fiat to buy presents for their loved ones, and unfortunately, it also affects the overall price

Because almost everyone, especially those new into bitcoin, investing with it, panickly sold their bitcoins.  And it does not stop, many are still selling their bitcoins to cut their losses. This is all because of the bad news that had happened.  I will just hold my bitcoin as I know that it will goes up still.

Bitcoin can't grow without falling, it needs to fall low enough to get an incentive for the next growth leap.

Considering that all these led to the price dropping sharply, I really think that we should be a part to recovery because aside these, there hasn't been any serious negative news pertaining to bitcoins and its rising but slowly.

compare to LY, first months of the year are usually a struggle, the bulls will join the arena in a few months max. again, no worries!

There are many speculations why there was a decline in price of cryptocurrencies. If we take a look in the past and see the price in the last part of every year, the prices are still going up but when a new year enters, the price starts to decline. This maybe because of the panic selling of Hodlers that thinks about the fall of cryptocurrency and this may result in the decline of prices. They may also want room to grow so they start selling alternate coins or bitcoin in particular to gain other cryptocurrency and invest in that platform.

That is a very big range to consider it as a consolidation stage as normally it would just be at 10% change max. With that range we could still consider Bitcoin fighting both up trend and down trend, but clearly looking at it in the 4 hourly chart the down trend is still intact and there is no showing that it will break it yet. Also the 7,500$ level is breakable and I think 5,900$ is not the bottom of Bitcoin yet. It is still a long way to go for Bitcoin and my advice is to endure and take advantage of it.

Bitcoin is very prone to news, especially from the East (China). It always has an impact on the schedule of its rates, as the rise and fall. I'm used to it.

The reason can be Chinese New Year too.But the reason can also be that the number of search of Bitcoin.According to some sources, the number of search of Bitcoin in Google has decreased and it affected Bitcoin in a bad way.

as far as I know, facebook does not allow ads containing cryptocurrency, as very many take advantage of such moments to raise funds, and deceive them. well, so, for that reason, bitcoin prices go down. even altcoin prices are also affected because of it.

The news is also a lot of negativity. Also, due to the upcoming Chinese New Year, there is an outflow of funds from the crypto currency