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Author Topic: What is it that's affecting the Bitcoin price fall?  (Read 1195 times)
David Horton
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May 29, 2017, 09:14:35 AM
 #1

What is it that's affecting the Bitcoin price fall? We have all seen the price last week reaching the all-time highs of $2500 or more. I know most people were expecting to see 1BTC sold at $3000 or more today but It went down back to around $2190. What affected this price fall?
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May 29, 2017, 09:15:56 AM
 #2

market correction coupled with USAF uncertainty my best bet
OmegaStarScream
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May 29, 2017, 09:17:22 AM
 #3

The price decrease didn't happen today, It was a few days ago and now It's stable enough. I tend to believe that It had something to do with the exchanges manipulating the market, the drop didn't affect bitcoin only but most of the cryptocurrencies.

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May 29, 2017, 09:19:46 AM
 #4

What is it that's affecting the Bitcoin price fall? We have all seen the price last week reaching the all-time highs of $2500 or more. I know most people were expecting to see 1BTC sold at $3000 or more today but It went down back to around $2190. What affected this price fall?

It's obvious - bitcoin was in a bubble.

I don't think that a lot of people expected $3000 bitcoin but rather a lot more people expected bitcoin to go down to under $2000. Look at the charts, no way that bitcoin could have grown legitimately over the last few days of the pump when it went up $200, $300 a day.

The price decrease didn't happen today, It was a few days ago and now It's stable enough. I tend to believe that It had something to do with the exchanges manipulating the market, the drop didn't affect bitcoin only but most of the cryptocurrencies.

I don't think that it has anything to do with exchanges manipulating but rather whales manipulating. exchanges are only providing a platform people to trade on, nothing else. And yes, a lot of other cryptos went down dramatically as well.

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May 29, 2017, 09:25:10 AM
 #5

What is it that's affecting the Bitcoin price fall? We have all seen the price last week reaching the all-time highs of $2500 or more. I know most people were expecting to see 1BTC sold at $3000 or more today but It went down back to around $2190. What affected this price fall?

That's obvious, because many people who has a great number of bitcoins sold it. That is just a good reason why the bitcoin price falls down, and I mean who would've not sell their bitcoin at that price, it was just a dream the time they invested in bitcoins, now it is the reality, though after they've sold their bitcoins, the price dumped.



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May 29, 2017, 09:29:41 AM
 #6

Well for me it was expected, We use bitcoin because we love this technology and for me it is better option that fiat system on international level but not everyone buying bitcoins just for this reason, they want to earn profits from it and that's why we see such fluctuations in the price. If I am not wrong then the previous price rally attracted many institutional investors and hence we saw such price hike. However, considering long term I see organic growth of bitcoin.

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May 29, 2017, 09:32:48 AM
 #7

The past price drop is just because of the manipulating powers mainly the high volume investors as well the exchange services. On a whole this could have made the panic sellers buy low to the exchanges and profit during the time of price pumping. If Chinese exchanges too had the power to control, then the price could have went below $2000.

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May 29, 2017, 09:40:03 AM
 #8

This can be explained by the simple concept of 'demand and supply'. As a result of a reduced Bitcoin demand and need by the general users, it resulted in a price drop. This could have been caused by the increase of the sale of Bitcoin in that particular time period, or the reduced number of Bitcoin purchases. This is the general concept that underlies the Bitcoin halving too.
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May 29, 2017, 10:20:36 AM
 #9

I think the only thing that affecting the price of bitcoin to fall is the correction for the price and also the panic sellers of bitcoin that is most content of newbies or new investors or traders in bitcoin because they think that the price will continue to fall and the only thing to be safe is to sell, that is what they are thinking so the price is keep falling down.

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May 29, 2017, 10:29:33 AM
 #10

Just like how the stock market moves, it will be almost the same with bitcoins. Someone would possibly manipulating prices which I think is in the upper echelon of this industry. I can't say for sure that they were doing it just to stabilize the price of bitcoins or just on their own personal gain.

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May 29, 2017, 10:32:18 AM
 #11

I would say this was necessary correction. The price was heading up realy fast and something like this was expected. Some conditions on the market changed, probably the rate between supply and demand but last few days price seams to be more stable and the further growth probably will not be so fast.

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May 29, 2017, 10:35:13 AM
 #12

I think the only thing that affecting the price of bitcoin to fall is the correction for the price and also the panic sellers of bitcoin that is most content of newbies or new investors or traders in bitcoin because they think that the price will continue to fall and the only thing to be safe is to sell, that is what they are thinking so the price is keep falling down.

Or on a wide perspective it is one of those dumps. Prices increase it high rates for period of weeks. Well this is just normal for btc or even some alt coins to attract other investors and so that the coins that was sold can be taken again or so i think. For the coins to be back in the market cap again and wont be stuck in someone elses own personal bank.

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May 29, 2017, 10:40:16 AM
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I think the only thing that affecting the price of bitcoin to fall is the correction for the price and also the panic sellers of bitcoin that is most content of newbies or new investors or traders in bitcoin because they think that the price will continue to fall and the only thing to be safe is to sell, that is what they are thinking so the price is keep falling down.

My bet is maybe because of that correction of the price. But I don't think that there are panic sellers because it didn't dump that big, it is still at $2100. How can they think that it will dump that big, and I don't think that it will reach $1500 or lower than that. Many people are waiting for the dump because they want to invest to it again, but I don't think that dump is not happening.



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joshy23
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May 29, 2017, 11:29:55 AM
 #14

People just cashing it in. They saw the huge opportunity to profit and said that "Hell yeah, I'm dumping it now, and enjoy later". Then others follow suit resulting in a massive dump in the next 2 days. I don't see any negative news that will really affect the market price. But I speculate that those who sold were likely to buy bitcoin again.

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May 29, 2017, 12:21:27 PM
 #15

The price decrease didn't happen today, It was a few days ago and now It's stable enough. I tend to believe that It had something to do with the exchanges manipulating the market, the drop didn't affect bitcoin only but most of the cryptocurrencies.
Yes sudden down in the bitcoin price will cost of the altcoins to go up and thats normal in the market its the circulation of the price in the matkey and thats normal but manipulating price in the market is have sudden effects in the price and can also cost delay in the price increasr.
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May 29, 2017, 12:25:13 PM
 #16

I am sure people will regret for not buying more bitcoins while we are still at dip. Operation segwit coming up. So it is a no brainer on this bitcoin price situation. We will end this year with a bang for sure.


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May 29, 2017, 02:50:29 PM
 #17

I think it is just a normal profit taking of hodlers and whales. It happens all the time the price is peaking, it will drop for a while when they dump their coins for profit and it will bounce back after they bought back. They is nothing to worry about. It is actually a good opportunity to buy more bitcoins when the price dips.

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May 29, 2017, 02:51:26 PM
 #18

What is it that's affecting the Bitcoin price fall? We have all seen the price last week reaching the all-time highs of $2500 or more. I know most people were expecting to see 1BTC sold at $3000 or more today but It went down back to around $2190. What affected this price fall?

There are many speculation circulating about the drop of bitcoin last week but I think the most affected it is the panic selling and converting of bitcoin, many people think that the price would really plummet back to the 3 digit dollar that we often see or at $1000 mark at least that is why out of fear many user was emotionally selling and converting bitcoins that is why we have seen some major set back out of the price of bitcoin and I think it is mostly normal for the price to drop this is really bitcoin after all.


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May 29, 2017, 04:46:58 PM
 #19

What affected this price fall?
Most probably some whales would had booked profits by $2800+ zones as they might had felt about big resistances around $3000 levels. Other than this, there was no big negative news to trigger the pull back. That was pure trading sentiment hence prices will bounce back soon !

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May 29, 2017, 05:20:30 PM
 #20

It was just a natural correction in an ongoing bull market. The price started to rise a little too fast and it corrected itself.

In the past there were bubbles that were overdue to burst when catastrophic events triggered the pops. This time there was no bubble and no big news, just a healthy correction.

The bull market continues. We're now working on our 7th consecutive green weekly candle. Worldwide demand continues to increase and supply remains fixed.

I hope you took advantage of the dip to buy. We may not see prices under $2000 again.
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