Why the price of Bitcoin going down so fast?

[avikz]

Hi, I was trying to find a reason as to why bitcoin price is going down so rapidly? Google search didn't show any rock-solid reason.

Can anyone help me with the actual reason? Anything happened which is acting as a catalyst for this down-slide?

[Yakamoto]

MODS
Move this to speculation

As for the actual reason, I have a feeling it is a panic sell from basically everyone after the price broke $1200 on a downward trend and people started to think they were not going to make a ton of money off of the stagnation of the price at the time. Over a day or two it trended down, until finally breaking $1000 downwards today and everyone started to freak out and sell.

A lot of psychology is probably what is triggering this value collapse right now.

[faaty]

https://bitcoinmagazine.com/articles/major-exchanges-will-consider-bitcoin-unlimited-new-asset/
https://poloniex.com/press-releases/2017.03.17-Hard-Fork/

and finally
https://bitcointalk.org/index.php?topic=1831570.0

[erickkyut]

Hi, I was trying to find a reason as to why bitcoin price is going down so rapidly? Google search didn't show any rock-solid reason.

Can anyone help me with the actual reason? Anything happened which is acting as a catalyst for this down-slide?

I am also wondering the same thing. In the past few weeks, the value of bitcoin is doing good and increasing in the market. I also wanted to know the reason why does its value now is going down so fast. I hope that it will be on its track again.

[HabBear]

More sellers than buyers.

Honestly, I think it started with people selling Bitcoin profits and buying Ethereum (which has most recently received a run up). Then the downward pressure on Bitcoin gained some momentum. People started taking profits (just for the sake of locking in their gains). We now see Ethereum dropping too. So there's a lot of people sitting with fiat, on the sidelines waiting to see how this plays out.

BUT, human psychology is a funny thing, watching the price drop on something like Bitcoin can influence others to sell, they don't want to be stuck holding their coins at the bottom. So...you have to ask yourself, what do you think Bitcoin will be in a year and beyond (greater or weaker than it is today). If you believe it will be greater, don't sell but buy into the drop. If you believe it will be weaker, sell baby sell.

[Taki]

Bitcoin users are that factor that affect bitcoin's price the most. It's simple speculation when the price is falling cause of people are selling their coins and rising when people buy.

[OmegaStarScream]

I don't think It has anything to do with Bitcoin Unlimited personally, Instead, I think people are investing on DASH and Ethereum as we have seen a really decent price increase in them. (huge for DASH!) People are probably trying to buy enough DASH and start their Masternodes.

[fuckitall]

More sellers than buyers.

Honestly, I think it started with people selling Bitcoin profits and buying Ethereum (which has most recently received a run up). Then the downward pressure on Bitcoin gained some momentum. People started taking profits (just for the sake of locking in their gains). We now see Ethereum dropping too. So there's a lot of people sitting with fiat, on the sidelines waiting to see how this plays out.

BUT, human psychology is a funny thing, watching the price drop on something like Bitcoin can influence others to sell, they don't want to be stuck holding their coins at the bottom. So...you have to ask yourself, what do you think Bitcoin will be in a year and beyond (greater or weaker than it is today). If you believe it will be greater, don't sell but buy into the drop. If you believe it will be weaker, sell baby sell.

So true it is.....we all want higher profits...as high as possible...if people see even a downfall of 30 dollars they create it a panic like hell...and start over exaggerating the things....sometimes i think people start acting like sheep they have lost patience...downfall of patience = downfall of BTC

[Its About Sharing]

I don't think It has anything to do with Bitcoin Unlimited personally, Instead, I think people are investing on DASH and Ethereum as we have seen a really decent price increase in them. (huge for DASH!) People are probably trying to buy enough DASH and start their Masternodes.

But in a sense this should be mutually exclusive. When you buy Dash or Ethereum, most use BTC. So, you have to buy BTC, that would make BTC price move up.
Some exchanges do allow cash deposits for Dash and Ethereum I believe, so this wouldn't make BTC go down either.

This is BTC selling, so why? I think it is the Chinese BU stuff.
And what ever happened to the exchanges there coming back online? How late are they now? Are they insolvent?

[SONG GEET]

Can anyone help me with the actual reason? Anything happened which is acting as a catalyst for this down-slide?

Recent high speculation about possible bitcoin network split may be the major factor for constant dump on price. We may see hard fork of bitcoin which will lead to two bitcoin network one will remain as bitcoin core (BTC) another chain from bitcoin unlimited will be known as (BTU).

[duuuuude]

More sellers than buyers.

Honestly, I think it started with people selling Bitcoin profits and buying Ethereum (which has most recently received a run up). Then the downward pressure on Bitcoin gained some momentum. People started taking profits (just for the sake of locking in their gains). We now see Ethereum dropping too. So there's a lot of people sitting with fiat, on the sidelines waiting to see how this plays out.

BUT, human psychology is a funny thing, watching the price drop on something like Bitcoin can influence others to sell, they don't want to be stuck holding their coins at the bottom. So...you have to ask yourself, what do you think Bitcoin will be in a year and beyond (greater or weaker than it is today). If you believe it will be greater, don't sell but buy into the drop. If you believe it will be weaker, sell baby sell.

So true it is.....we all want higher profits...as high as possible...if people see even a downfall of 30 dollars they create it a panic like hell...and start over exaggerating the things....sometimes i think people start acting like sheep they have lost patience...downfall of patience = downfall of BTC

The fact is people get panic so easily that start selling their coins when they see downfall in the price and at that point they need to have patience and should hold their coins tight and if they sell then it will surely won't give good profit margin.

[Ayers]

the fud for the hard fork is causing a big sell off, all the money are not lost they are all in the altcoin, look at zcash and etheruem and dash, all the bitcoin that are sold are there, my guess is that after this fork will be done the money will return to bitcoin, so don't worry keep holding and buy more at cheaper rate!

[bitbunnny]

the fud for the hard fork is causing a big sell off, all the money ar enot lost they are all in the altcoin, look at zcash and etheruem and dash, all the bitcoin that are sold are there, my guess is that after this fork will be done the money will return to bitcoin, so don't worry keep holding and buy more at cheaper rate!

Agree with that, there is no need for panic or selling. People are Investing in altcoins at the moment but.Bitcoin is not on that big loss and I think that the Bitcoin price will be on the track again, stable with tendency to rise again.
Every time when price is going down a bit people start to worry and even panic but this time there is no reason for that at all.

[ekoice]

Hi, I was trying to find a reason as to why bitcoin price is going down so rapidly? Google search didn't show any rock-solid reason.

Can anyone help me with the actual reason? Anything happened which is acting as a catalyst for this down-slide?

I would just say more people are getting panic due to fear of hard fork.So,they just want to sell off their bitcoins.But,they even dont know that even if a hard fork happens and BU comes,still they would be having their holdings in both the block chains.So,they could sell their BU and make some quick money.But the problem is they are not willing to even listen.Panic,Panic and just Panic.Thats a great opportunity for big whales to buy cheaper bitcoins who know well about bitcoins.

[btcdevil]

the fud for the hard fork is causing a big sell off, all the money ar enot lost they are all in the altcoin, look at zcash and etheruem and dash, all the bitcoin that are sold are there, my guess is that after this fork will be done the money will return to bitcoin, so don't worry keep holding and buy more at cheaper rate!

Agree with that, there is no need for panic or selling. People are Investing in altcoins at the moment but.Bitcoin is not on that big loss and I think that the Bitcoin price will be on the track again, stable with tendency to rise again.
Every time when price is going down a bit people start to worry and even panic but this time there is no reason for that at all.

Ya it is true that now Bitcoin Hardfork is going to happen it means like ETH ETC was created due to hardfork but it got not that much success, so same thing they are doing with Bitcoin Hardfork and creating a new Bitcoin as BU so market is reacting on this news and their is sell off in fear of bitcoin can lose the faith of decentralization

[jeraldskie11]

We don't what the exact reason why the price of bitcoin is going down so fast because bitcoin has programmed that no one can control it. I think there are many traders are selling bitcoin and I think it can affect it. Even though we know the reason why bitcoin price is down, we also don't know when it is happen because it depends to the number of bitcoin that we sell.

[clickerz]

the fud for the hard fork is causing a big sell off, all the money are not lost they are all in the altcoin, look at zcash and etheruem and dash, all the bitcoin that are sold are there, my guess is that after this fork will be done the money will return to bitcoin, so don't worry keep holding and buy more at cheaper rate!

Most of us agree with you here, also those ETF last week disapproval Announcement has minimal  effect also. Some major Altcoins price are rising,they benefited from bitcoin slowdown. I think this is only temporary correction.

[JanpriX]

Hi, I was trying to find a reason as to why bitcoin price is going down so rapidly? Google search didn't show any rock-solid reason.

Can anyone help me with the actual reason? Anything happened which is acting as a catalyst for this down-slide?

It is probably because of the speculation roaming around that there will be hardfork to alleviate the problem that we are experiencing right now in our network. Because of these speculations, people tend to panic sell and convert their bitcoin to cash. People are very vulnerable with these types of rumors especially the ones who are not technically adept when it comes to BTC.  

[Theb]

It is normal for a currency that is not controlled by the government, instead it is controlled by people who has too many Bitcoin that can influence its price. What I am seeing right now is that it is either a normal correction or a panic selling or it can even be both. But don't worry I am seeing a major up trend after a few corrections happen.

[Spratan]

Uncertainty because of the virtual hardfork.
Some think that Bitcoin could instantly disappear