The price is falling again. Any reason for this?
We had been in a downtrend since the high of $779.
And with the Finex "hack" things got even worse.
The last few days we had tested the support line of the bearish triangle we were in 4 times.
And now the 5th attempt, after a pullback, had been successful with a bearish breakthrough.
The market is bearish and traders are acting and reacting accordingly to make profits or minimize losses.That's it.
I don't really disagree with your depiction of facts, but your characterization of the situation seems overly bearish.
Yeah, sure bitcoin experienced a decent run up to $779, and yes there has been quite a bit of correction from there with a couple of bitfinex shut downs that assisted to create larger corrections...
But really we gotta zoom out a bit more in order to characterize this current price situation. Bears and banker shills would have preferred prices to have stayed below $500, and since the end of May, they have been attempting to push prices below $500 - and maybe they will be successful, but until they are successful, I would not call this any kind of reversal of the overall upwards price trend and overall upwards price pressures. If we go into the lower $500 and if we stay below $500 for a while, then sure that could be a kind of flat period, but we need to go below $450 and stay there for a considerable time before I would concede that BTC has reversed either from an overall bull trend or has gone flat.
So, instead of selling, as you seem to be suggesting, probably a better practice would be to HODL and to buy more on dips. maybe sell a little bit if you are uncomfortable (and as insurance in case you do not have any fiat for buying, just in case), but it seems that it would not be safe to sell any large quantities of BTC at these prices.
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