Bitcoin Forum

Bitcoin is going down very hard till now after touch ATH last year. Any idea what caused it? And what the impact to other altcoins? Any opinion when bitcoin will be rise up again? :) :) :)

it could be people are selling Bitcoins and investing their money in Gold and Silver. Chinese government is encouraging/telling people to invest in gold and silver

China’s gold imports have surged over 700 percent since 2010

and the country remained the world's biggest consumer of the precious metal last year, according to the latest data from Hong Kong.In 2015 the country imported almost 1,000 tons of gold, compared to about 100 tons five years ago. China was followed by India which imported 849 tons of gold in 2015.Last year China’s demand for gold coins surged 25 percent in the fourth quarter from a year earlier. The rush followed Beijing’s devaluation of the yuan as consumers sought to protect their wealth.China’s central bank has also accelerated gold purchases to diversify the country's reserves away from the US dollar.However, Beijing doesn’t explain the jump in gold demand, claiming the country’s gold reserves have grown only a little in recent years.
China has a lot more gold than they declare," John LaForge, head of Wells Fargo's commodities team told CNN.For the last six years Beijing has stayed secretive about its gold reserves. Last year the government finally revealed a nearly 60 percent growth in reserves since 2009. The country became the fifth largest holder of gold in the world, following the US, Germany, the International Monetary Fund (IMF), Italy and France.

https://www.rt.com/business (https://www.rt.com/business/332125-china-gold-demand-increase/)

Bitcoin goes down with me for several reasons:
- Regulation of increase or decrease of the market.
- Some people are skeptical about Bitcoin because of the launch and development of non-governmental, Bitcoin users are not required to use real names in transactions.
- Some social networks ban the promotion of Bitcoin.
- There may be a strong force that is manipulating the market
- Bitcoin has been used in some criminals
- Speed and security of Bitcoin are having problems ...
But the fact Bitcoin has won the trust of investors. Bitcoin prices started to rise. Very likely to rise in the short term.

In my opinion, the price is going down because of 2 main reasons.
The first one is that there's the whales who pump and dump every now and then manipulating the price.
The second one is that there's the FUD, which has been spread day after day. Everyday you can read about governments banning cryptocurrencies and shutting down exchanges. Now it's the Reserve Bank of India who wants to stop cryptocurrencies in India.
All this FUD creates panic sell off, which leads the price to decline.

For me I think that one of the reason of the bitcoins continuously experiencing downfall maybe it's affected to the influence of bad news spreading around crypto world which is tells that bitcoin will end, bitcoin will die this is probably distraction to the people who wanted to invest to it. The people that wanted to involved to bitcoin will be lessen because they think that bitcoin is not already profitable for them. In the other side, there's a fact that nobody knows when it will be risen again and meet it's fully recovery but for now there still a lot of people who really believed to bitcoin and still holding for it.

Bitcoin is constantly going through a fall because it is impossible to go up forever. I feel sorry for those who don't. The higher the bitcoin goes up the more it will fall. The real price is always in the middle. I recommend users of cryptocurrencies not to make plans for the future. Better for you to live in the present and you'll always profit.

Don't worry this is temporary, after this you will surely understand the famous quote "The stock market is a device for transferring money from the impatient to the patient.". If you pay attention closley many new people know about bitcoin and other cryptocurrency and many new projects with huge innovations are happening into this space. Well known bussinesses are looking to open their own exchanges such as Yahoo in Japan (https://thebitcoinnews.com/yahoo-japan-joins-the-bitcoin-bandwagon-set-to-launch-cryptocurrency-exchange/) and many many others. You think this is because they don't see huge opportunity within this space? Well they are not stupid and they see huge potential for this thing. It may take time for price to go up, let it be at the end of the day, within few years you will have big smile on your face. Trust me and other people and see whats happening around and draw your own conclusion.

It's just down because more people are selling than buying.

The main reason behind that is perhaps the increased number of big names like google, microsoft, facebook and twitter pulling out of the ads and that added to the negative news. People began losing trust and started withdrawing their money from the exchanges.
Within a few days we saw market losing its total value. Almost every other week we see a particular country imposing a ban on exchanges. It started with China and then India also followed.
So all these news create a negative impact on users' mindset and they start exiting the market out of fear.

In my opinion, BTC as well as forex, stock and gold. It also has a graph cycle. So increasing or decreasing is a process of graphing and growth. And the influence of the news is just what appears after the trend of the graph. It will make the graph go faster or slower, not control the graph

I agree for your second reason, not just India, china also closed the bitcoin market. but when you say there's a whale who pump and dump, and manipulate the price, I think it's hard to happen. the price of bitcoin in outline is due to supply and demands.

Any idea what caused it?
I think a lot of bitcoin investors are trying to play in ICO coin, we can see it in the market of so many ICO coins at the moment.
And what the impact to other altcoins?
ALT coin follows bitcoin price, when bitcoin price moves down, ALT follows.
Any opinion when bitcoin will be rise up again?
I hope bitcoin moves up this month, but I'm just a petty investor.

Last January and February bitcoins value crashed to 10k $ and the reasons is that the 20k$ value last December was an overpriced one and that it undergone a correction. But starting march this year up to April bitcoins value continued to go down because of negative news against bitcoin such as shutting down of MT. Gox, banning of cryptocurrency related ads and ICO's by facebook, twitter and google.

I think there are some things that cause bitcoin prices to fall, including the reduction of digital currency enthusiasts and dump activities conducted by holder

The trigger for this slow dump was when a idiot trustee, handling the recovered MtGox coins, started to sell coins on exchanges.

The other investors saw this happening and the price took a little nose dive. It is like a little stone thrown in a pond, the ripple

affect just grows bigger over time. Once it was announced, the trustee stopped and things have not recovered since. The rest is

just manipulation and newbies jumping ship.  ;D

bitcoin has dropped because no more investors now because they see social media so and they are afraid to invest and they might be scam.

Bitcoin is going down because small investors are now fearing in investing any more money. A lot of people are already in loss because of prices falling from $ 20000 to $ 7000.

bitcoin has dropped because investors are few now because they now rely on bounties because you earn more now if you join bounties rather than invest.

There are still so many people who are panic selling their coins and just dumping it into the market and it will take the market some time to recover and we need all the panic sellers to finish selling so the market can grow back stronger.

Bitcoin is going down because other people are panic selling. They are panicking because they thought Bitcoin will be banned.

The price of BTC has gone up too much, leading to too many people making money in the market and of course adjusting the market through falling prices.

Too much bad news about crypto. the government banned.some company banned. social network banned. The most tax day is in the United States. The information affects crypto or bitcoin severely. so sad

Bitcoin really had a rough start this year. As this year entered, the market value of it continuously fell in an instant. From a market value of almost 20000 usd last year, it is now under the 7k usd mark. No one really knows the exact reason behind this but one thing is for sure,recovery will soon happen. We just need to wait for things to happen.

From February 2018, negative information about Bitcoin started to appear. Many countries with Crypto-participating investors such as China, Japan, and India have begun to release information about the bans on Bitcoin, which prompted it to go down quickly.

I'm not sure but based on my research maybe its because there is few investor in bitcoin, not just bitcoin but also in other altcoin

It's going down because some countries are banning bitcoin and taking actions against the people who are working with bitcoin and most of the people in those counties are selling their coins in panic and because of that, the price is going down.

Bitcoin is going down probably because everyone is capturing their anual income of the year and selling Bitcoin to withdraw moo-lahs.So no need to be afraid for it to crash because Bitcoin miners will always prevail.Think of it like a real estate investing. My investment property can drop in value, but I can still rent it out for income with Bitcoin mining.Whether the price is down or consolidating, I can still earn Bitcoin by mining it. And when the price of Bitcoin rockets up, my coins already mined go up too.

best theory i have heard is taxes. lot of people made a lot of money in 2017. last minute tax sales to pay the gov seem likely. notice this all started toward the end of march. if this is the case what we're seeing is a bottom tracing out. perhaps a retest of that 5900 low and a consolidation base is built. i don't personally subscribe to the 80% bubble correction theory as we keep seeing buyers step in under 7k fairly regularly on every plunge so far

There are many reasons for this. Since Bitcoin gained so much popularity some people started using it for scams and frauds. This led to the interference of government. Many governments also gave their negative views on Bitcoin, which made people skeptical and they started selling it. But this is just a temporary phase. Owing to the fact that Bitcoin still has the faith of many investors, its price will rise soon.

The only thing that cause the Price of bitcoin to keep going down is the level of demands in it market which is most influence by some news from big cooperation's whose statements are capable of reducing the demands for bitcoin in so many ways such as Facebook and other big bodies like government of so countries who's time to time come out to say negative things about bitcoin and how bad it is to our financial life.

it's already slowly recovers and touch the resistance level at 7,5k.
I think from now bitcoin will up slowly and won't go down to 6k again

Bitcoin is going down probably because everyone is capturing their anual income of the year and selling Bitcoin to withdraw more and also small investors are now fearing in investing more money.

it is not just bitcoin but altcoin is also suffering where ethereum is going down every day. is it because it has something to do with the world cup in russia so that bitcoin and alltcoin holders take their assets out and do not buy back because of the temporary diversion of investments.

Personally I think this BTC price drop caused due to two reasons. One reason is that we hear lot of negative news about cryptocurrency such as cryptocurrency exchange hacks, tightening government regulations to control cryptocurrency, gossips about BTC price manipulation etc. Therefore, some investors are selling their bitcoin while newbies are afraid to invest in bitcoin. The other reason is early investors who invested in bitcoin and currently in profitable position are selling their bitcoin before they reach a unprofitable position.

Have a lot of reason :).. The main is someone hacked and sold out BTC.