Why is the BTC price dropping again?

[DurbanPoison]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

[ampere9765]

Because you touch yourself at night

[DurbanPoison]

Because you touch yourself at night

No, that is what you do while jacking off to Bruce Willis.

[kooke]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

While they may not be banning bitcoin, it does appear that they're set to ban bank accounts that trade in btc. More people looking to cash out their holdings into fiat while they still can I guess.

[eboard10]

I don't think it's going to drop more than what it already has, $395 at most. It should then start its rise to $500 over the next few days.

[aminorex]

Chinese are not the sellers.

The truth is more shroomsian than I want to admit.

[DurbanPoison]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

While they may not be banning bitcoin, it does appear that they're set to ban bank accounts that trade in btc. More people looking to cash out their holdings into fiat while they still can I guess.

True, but that news appeared to already be digested and the recovery had started. Oh well, nothing to do but wait it out. Damn China caused some serious damage.

[kooke]

Chinese are not the sellers.

The truth is more shroomsian than I want to admit.

They're not the only sellers, but speculation around the China bank situation seems to be the main contributing factor to the current btc price movement.

[kokojie]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

Because the price was too high, the adoption rate wasn't there yet. China was just an excuse for the traders to dump. Basically any bad news were used as excuse to dump, and good news didn't cause any rise (I consider striple/square implementing Bitcoin very good news, yet they didn't cause any rise).

Think about it, if we maintained the $1200 price tag, each day about 4000 BTC is produced by miners, we need $5 million USD new money, every single day, to maintain the price. It wasn't sustainable at the current adoption rate. So we are dropping down to the more realistic $1.5M each day.

[RoadStress]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

Because the price was too high, the adoption rate wasn't there yet. China was just an excuse for the traders to dump. Basically any bad news were used as excuse to dump, and good news didn't cause any rise (I consider striple/square implementing Bitcoin very good news, yet they didn't cause any rise).

Think about it, if we maintained the $1200 price tag, each day about 4000 BTC is produced by miners, we need $5 million USD new money, every single day, to maintain the price. It wasn't sustainable at the current adoption rate. So we are dropping down to the more realistic $1.5M each day.

You are assuming that all coins that are produced by miners are sold which is wrong.

[kokojie]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

Because the price was too high, the adoption rate wasn't there yet. China was just an excuse for the traders to dump. Basically any bad news were used as excuse to dump, and good news didn't cause any rise (I consider striple/square implementing Bitcoin very good news, yet they didn't cause any rise).

Think about it, if we maintained the $1200 price tag, each day about 4000 BTC is produced by miners, we need $5 million USD new money, every single day, to maintain the price. It wasn't sustainable at the current adoption rate. So we are dropping down to the more realistic $1.5M each day.

You are assuming that all coins that are produced by miners are sold which is wrong.

Majority of them are sold, electricity bill doesn't pay themselves, and miner cost have to be recouped, I know many miners took on loans to buy miners. Even for miners that doesn't sell, they are just "pre-sold", because their miner investment could've been invested in Bitcoin directly.

[RoadStress]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

Because the price was too high, the adoption rate wasn't there yet. China was just an excuse for the traders to dump. Basically any bad news were used as excuse to dump, and good news didn't cause any rise (I consider striple/square implementing Bitcoin very good news, yet they didn't cause any rise).

Think about it, if we maintained the $1200 price tag, each day about 4000 BTC is produced by miners, we need $5 million USD new money, every single day, to maintain the price. It wasn't sustainable at the current adoption rate. So we are dropping down to the more realistic $1.5M each day.

You are assuming that all coins that are produced by miners are sold which is wrong.

Majority of them are sold, electricity bill doesn't pay themselves, and miner cost have to be recouped, I know many miners took on loans to buy miners.

Electricity and paying loans only requires a part of what you mine. If it requires everything that you mine then you are on 0 and it's not worth mining.

[igorr]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

If you know, What is the bitcoin, Then you'll know "Why is the BTC price dropping again"

[Zule]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

If you know, What is the bitcoin, Then you'll know "Why is the BTC price dropping again"

Please tell us "what is the bitcoin"...
Try to make it funny, I hate it when idiot posts are boring

[igorr]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

If you know, What is the bitcoin, Then you'll know "Why is the BTC price dropping again"

Please tell us "what is the bitcoin"...
Try to make it funny, I hate it when idiot posts are boring

your brain has not come to that level, and can not understand it.

You need:

[TERA]

There is no "REASON" for every single movement in the market! It just happens.

[GreenDude]

Because bad news from china are good for buying low.

[kokojie]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

Because the price was too high, the adoption rate wasn't there yet. China was just an excuse for the traders to dump. Basically any bad news were used as excuse to dump, and good news didn't cause any rise (I consider striple/square implementing Bitcoin very good news, yet they didn't cause any rise).

Think about it, if we maintained the $1200 price tag, each day about 4000 BTC is produced by miners, we need $5 million USD new money, every single day, to maintain the price. It wasn't sustainable at the current adoption rate. So we are dropping down to the more realistic $1.5M each day.

You are assuming that all coins that are produced by miners are sold which is wrong.

Majority of them are sold, electricity bill doesn't pay themselves, and miner cost have to be recouped, I know many miners took on loans to buy miners.

Electricity and paying loans only requires a part of what you mine. If it requires everything that you mine then you are on 0 and it's not worth mining.

Yes, but unless they plan to hoard the coin FOREVER, at some point, it WILL be sold. Either by converting to fiat or buying goods/services, and the seller most likely will convert to fiat.

[Wilhelm]

It recovered when it became evident that China won't be banning Bitcoin outright and now it's below $400 again. Any theories as to why?

It's simple: Because more BTC we're sold then bought