PreT (OP)
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September 05, 2017, 02:42:11 AM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
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pooya87
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September 05, 2017, 02:45:27 AM |
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What is the reason for bitcoin prices to fall,
price correction after a huge rise in a short time. is it because of negative news from China about the ICO ban making bitcoin prices fall?
it was not the reason but also it was not ineffective either. Will bitcoin prices go back to $2000?
probably not. |
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aTriz
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September 05, 2017, 02:59:47 AM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
The news about icos being banned in china definitely impacted the prices, but I don't think that the fact of that alone would drop the price by almost 1K in one day. A lot of people probably didn't know about this anyways. I think this was due to bitcoin reaching 5k and then dropping due to people selling all of their bitcoin at that price. |
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erickkyut
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September 05, 2017, 03:00:02 AM |
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I don't know either. Some people say that it is because of price cotrection while others say that because the whales are manipulating the market. The recent news about China banning the ICO might not be the reason but I'm pretty sure it has a contribution on that price drop. We don't need to panic. It is just a normal thing in this market. I know they will recover soon. There will be price increase again.
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sosobtc-Regina
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September 05, 2017, 03:03:28 AM |
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it might have something to do with Chinese policy.
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hufeng112
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September 05, 2017, 03:16:00 AM |
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It definitely has something to do with the China ban. The coin prices on the Chinese markets are almost 10-20% lower than those on Bitfinex now. I think the global market will be influenced by this huge price difference.
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JimboToronto
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You're never too old to think young.
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September 05, 2017, 06:39:03 AM
Last edit: September 05, 2017, 06:53:20 AM by JimboToronto |
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The first $500 dip on Sept 2 was a natural correction after a month-long rally. The second $500 dip on Sept 4 was directly caused by the PBoC announcement and ensuing panic. Today's continuing dip started when China woke up and drove the price considerably lower than at the western exchanges. Many people inexperienced in Bitcoin's history have talked themselves into thinking that the price will fall to unreasonably low levels. It remains to be seen if it will drop as far as the 33% it dipped from May 25-27. The current dip is basically the same as the 20% dip that occurred between Aug 16-21. No big deal. The news about icos being banned in china definitely impacted the prices, but I don't think that the fact of that alone would drop the price by almost 1K in one day.
The price didn't drop by almost $1k in one day. It took 3 days. The correction was pretty much finished by the time the PBoC made their announcement and weaklings panicked. China's ban on Chinese companies running ICO scams has nothing to do with Bitcoin. Bitcoin is an honest 100% mined cryptocurrency, not a pre-mined ICO scamcoin. China is only trying to protect its citizenry from the kind of sleazy companies that use ICOs to rip off the gullible with pre-mined coins. |
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Rajamuda
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September 05, 2017, 07:41:53 AM |
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Surely on my knowledge this is caused by situation of panic sell and panic buy. This is very affecting once and often happens because of the views / predictions of different peoples, so this makes effect to the price of bitcoin can be down or up. However, despite the decline, i think bitcoin price will never drop to $2000.
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sunsilk
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September 05, 2017, 07:51:35 AM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
It's a normal thing and making the economy balance. We saw bitcoin pumped too rapid and it's a normal thing that it will have an opposite reaction. And that's we are seeing now, the price went down up to $4,000. A factor that affected the whole crypto because of China's action of banning ICOs. It made the hodlers and traders to sell. I guess we are done, the price starts to climb again at $4,100. |
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Wind_FURY
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September 05, 2017, 07:57:16 AM |
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What is the reason for bitcoin prices to fall,
price correction after a huge rise in a short time. is it because of negative news from China about the ICO ban making bitcoin prices fall?
it was not the reason but also it was not ineffective either. Will bitcoin prices go back to $2000?
probably not. Also consider the panic sellers and the whales manipulating the market after making the "Chinese bans ICO crowdsales" bigger than it is. This is simply an overreaction of the market at work again. |
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DrGuns4Hands
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September 05, 2017, 08:22:17 AM |
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This is only a price correction due to spike of raising bitcoin prices because of the demand but now people starting to sell out their bitcoin and did a panic selling because they're afraid to lose every single piece of their income. but that's where they're wrong bitcoin would reach $7000 this year before it ends and then will be stable at $6000 price barrier. I believed in bitcoin from thestart up to date.
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joseafonso123az
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September 05, 2017, 09:35:27 AM |
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The volatile nature of bitcoin makes it rise and decrease to make a price correction.
I believe that the China banning ICO's could have been a cause for this current drop and it looks it will drop even more in the coming days.
I can't imagine it reaching 2000$ but as the price is volatile, everything is possible.
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Kyraishi
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September 05, 2017, 10:06:54 AM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
Main reason is definitely because of China announcing that they are banning ICOs. But I think that there was definitely some panic selling going on as well. Two corrections in a span of a few days maknig bitcoin drop $1000 in value probably made a lot of people panic and worsening the effects of the dump. I don't think that bitcoin will go back to $2000, though. Even in the worst case scenario. There is a lot of support at the $4000 level, and essentially btc would need to lose 60+% of its value from the ATH to go back down that much again. |
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xypos
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September 05, 2017, 10:24:48 AM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
China is the main factor but also i think a correction was due anyways. Bitcoin was sort of overpriced when it was at $5000, and we corrected to $4500 but went up again, and now this is the second correction down to $4000 and back up to $4200. Now the price is at least less "bubbly" than before. Price will probably not fall back to $2000 this year, i'd say that the minimum it'll go to is $3000. Too many floors to fall through simply, and i don't think that many people are interested in dumping this much anyways. BTC is considered to be a safe haven now. But next year? Maybe. When the craze dies out, btc may just gradually decline to $2k but probably unlikely as well. |
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Oceat
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September 05, 2017, 10:27:50 AM |
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Bitcoin prices will only fall due to a correction after of rising the price in a short period of time. Banning ICOs in China will not affect the price of bitcoin, ICO is different from bitcoin and these two are not even related to each others. Once the price of bitcoin rise it doesn't really fall too much like $2000 when the current price is $4000. It might fall to $3800 or $3500 but this is just too rare to happen.
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3996
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Seansky
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September 05, 2017, 11:39:44 AM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
I dont think that bitcoin price will go back to 2000$ for now. It is normal to see a correction now IMO since it has been in a continuous upward trend so it is normal that we will see a dump sooner or later. The banning of ICO in China doesnt really affected the bitcoin price because if it were affected by it, bitcoin price would have fallen so low now because Chinese holds a lot of bitcoins. |
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1Referee
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September 05, 2017, 11:54:21 AM |
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I believe that the China banning ICO's could have been a cause for this current drop and it looks it will drop even more in the coming days.
Nah. If we look at the market from an unbiased perspective, it was simply said, heavily overbought. It was a correction that a lot people were waiting for, and it finally happened. China banning ICO's is just affecting China, and that's really it. Don't get me wrong, China is definitely a large market in crypto terms, but it's not the central point anymore. The Asian continent is expanding its reach, where countries as Japan and South Korea have already surpassed China. China is just implementing the necessary regulations, and rightfully so - the ICO market is literally infested with scammers reaching millionaire status in a matter of days, or in some cases even hours. I am glad that at least something is being done to stop the ICO craze from growing larger. I can't imagine it reaching 2000$ but as the price is volatile, everything is possible.
Never say never, but the chances for this to happen are extremely small. If it turns out to become reality, I will not waste a single second when it comes to buying myself a whole lot of coins. I have cashed out a decent portion above the $4000 level, so I have enough fiat ready to be put in action. Realistically speaking, $3000 is the lowest I can see the market go down. Bitfinex is the only major USD exchange that took a dive under the $4000 level, and it was very likely an attempt by a whale to trigger stop loss orders. |
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tdeannova
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September 05, 2017, 06:00:25 PM |
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I am very sad when I see my portfolio in a few days decreased by 50% I think the news about china prohibits ico is an issue only, what friends there are here who are from and live in china who experience the problem? Prohibited invest in ico? I do not think so. It will not be possible btc back to $2000 Just a fool who wants btc to be cheap, do you want btc back to be $200 - $300 same as in 2015  |
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amacar2
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September 05, 2017, 06:51:26 PM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
There is no any other negative news on market other than this partial news of china banning ico this might be the only reason for current dump fueld by panic sellers. Anything is possible But price of bitcoin might not go below $3500 anytime soon... |
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PokerDiceMan
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September 05, 2017, 06:54:27 PM |
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What is the reason for bitcoin prices to fall, is it because of negative news from China about the ICO ban making bitcoin prices fall?
Will bitcoin prices go back to $2000?
bitcoin down price not related about china ban about ico only panic sell , because bitcoin user in china big too, is big problem about ico and big effect neo and ETH |
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