degraff
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October 20, 2017, 09:41:08 AM |
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The main reason right now I would say is regulation unpredictable moves from regulators accross the world. Then this question will be set (expect - 2-3 years) definitely volatility in price will be less
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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Rebellious
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Activity: 56
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October 20, 2017, 09:45:38 AM |
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Negative news.
Whales.
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TheUltraElite
Legendary
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Activity: 2856
Merit: 1218
Call your grandparents and tell them you love them
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October 20, 2017, 10:04:16 AM |
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Negative news.
Whales.
Negative news does not always have a bad effect on the price. There was the news of china banning ICOs which led to a big dip in price however the price gradually rose beyond 5k after that - point to be noted is that the news of south korea cam after this but it did not have much effect on the price. It means that gradually the traders are becoming refractory to the news from the scaremongering and not willing to give in to it. Whales are one big factor - there are big investors and they manipulate the market. |
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krauzzer02
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October 20, 2017, 10:21:16 AM |
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It always reach it's price drops yearly but that is just the emergence to its skyrocket price always remember that is the life in the digital currency just like alternative coins they reach the point where they have a drop of 20% to 40% to that day but bounce back to its former price the next day, another thing to consider is the selling of the peoples bitcoin the more bitcoins they sell the more the price will decrease, another thing is the banning and bad rumors spreading through out the people.
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teilwalL05
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October 20, 2017, 10:23:00 AM |
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Negative news.
Whales.
Negative news does not always have a bad effect on the price. There was the news of china banning ICOs which led to a big dip in price however the price gradually rose beyond 5k after that - point to be noted is that the news of south korea cam after this but it did not have much effect on the price. It means that gradually the traders are becoming refractory to the news from the scaremongering and not willing to give in to it. Whales are one big factor - there are big investors and they manipulate the market. Yup! not all negative and bad comment news had an impact with bitcoin, but that news had an slight impact with bitcoin that china banning ICO's thing but it just had cause for bitcoin to even increase more and I guess that the price did continue to establish a good and positive vibe about new investors and they are thinking to sure trust their money with bitcoin because of the much fluctuation on it's value. |
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MiF
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October 20, 2017, 10:23:40 AM |
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I would like to know your opinion on what factors cause the value of Bitcoin to drop. A brief explanation helps.
When buying is at a low rate and selling is in high rate it will affect the bitcoin value because the supply will become greater than demand this is the main factor why bitcoin price drops. This will happen if people selling their bitcoin because of panic and afraid to lost their investment but if people is just continue to hoard the price will become stable or going to be expensive because the supply will become lesser while buying demand is increasing. |
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LyQaN
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October 20, 2017, 10:36:35 AM |
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reasons:-
1.some statements about banning use of bitcoin in countries like china and some statement by companies such as jp morgan about how bitcoin is not good and safe and all.
2.economically it could be related to demand and supply,low demand decreases price of any item.
3.or maybe introduction of some other strong cryptocurrencies.
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cryptowilie
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October 20, 2017, 10:42:38 AM |
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The major reason as towhy btc has been so strong is its increasing adoption and alsopositive news coming from japan and places
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chichigirl
Sr. Member
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Activity: 588
Merit: 251
HELENA
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October 20, 2017, 10:43:10 AM |
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The news about banning of china, considering bitcoin as a fraud those are the fake news that greatly affect the price of BTC. Another thing, the upcoming new hard fork, it will surely affect the price of BTC.
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xianbits
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October 20, 2017, 10:46:44 AM |
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Many are pointing out the law of supply and demand and some also telling that negative news make the price drop. But I think it should be understood that these two are related. The law of supply and demand has been explained here. When a negative news occur, of course the people will panic and generally speaking, these people will now sell their coins making the "supply in the market" to become bigger and bigger and as the law says, the price will now drop. Same idea happens when there are positive news only that the demand becomes greater thus making the price to rise.
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enterprevic
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Merit: 10
Healthpromag.com
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October 20, 2017, 10:54:27 AM |
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I would like to know your opinion on what factors cause the value of Bitcoin to drop. A brief explanation helps.
Its really simple if you understand the basics, bitcoin operates on the rules of demand and supply, the more the demand the higher the price and the lesser the demand the lower the price since bitcoin is going short in supply, now when the Chinese guys placed a ban on exchanges of bitcoin in the country, the price probably dropped because there were a lot of big investors who pulled out of the market, but trust bitcoin to always come back bigger and better. |
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Aamir1
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October 20, 2017, 10:58:48 AM |
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The very basic reason of a drop in the price of Bitcoin is surely the demand and supply. When the demand gets high, the price gets higher, and when it gets low, the price drops to an extent. And, these things mostly happen because of all what other people have already mentioned; panic sell.
There are people who spread fake news about Bitcoin, and the people being new in Bitcoin believe they are true and start selling out what they have, so it decreases the price of Bitcoin as it can be considered as a decrement in demand.
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dondonk
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October 20, 2017, 11:15:46 AM |
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when most people sell bitcoin in large amount at the same time . It causes price of bitcoin going down .
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mazzaneo
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October 20, 2017, 11:18:55 AM |
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ANything from profit taking - somebody bought at a lower price and want to lock in profit. To fear hitting the market, or people finding what they believe to be better investment opportunities so there are more sellers than buyers on some days.
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junoreactor
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October 20, 2017, 11:24:16 AM |
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when most people sell bitcoin in large amount at the same time . It causes price of bitcoin going down .
That is probably what happened due to the fast rise, people took their profit, simple as that. Price was around 4K a month ago, now it is 5k6 with a peak at 5k9, what "drop" are people talking about exactly? This is not a drop but a correction, going from 5k9 to 5k6 is perfect normal, especially with cryptos.  |
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heppot
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October 20, 2017, 12:39:45 PM |
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The decrease of bitcoin price is caused by the little bit of Bitcoin stock in the network. As economic law, less goods, then the price of goods will rise, but if the amount of goods available enough, then the price will decrease. This also applies to bitcoin prices.
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sirslayer
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October 20, 2017, 08:10:44 PM |
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The main reason right now I would say is regulation unpredictable moves from regulators accross the world. Then this question will be set (expect - 2-3 years) definitely volatility in price will be less
Well I don’t think so that the price will be low for three to four years bitcoin price can be changed in a week because it’s a part of market exchange some time it will drop and some time it will be high so no need to worries about it last year also when the year come to end so the price was down and then in weeks of the year the price go high so this time again the price will high. |
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Crypdon
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Activity: 616
Merit: 11
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October 20, 2017, 08:27:45 PM |
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When the bitcon fork is over, people will go back to altcoins. BTC prices will drop as a result and panic selling will start to kick off
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FasTroy
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October 20, 2017, 08:34:24 PM |
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When the bitcon fork is over, people will go back to altcoins. BTC prices will drop as a result and panic selling will start to kick off
I don't think that the price after the hard fork of the 25th october will drop like you said. As we see now bitcoin have a very good potential, according to preev now 1 BTC= 6040$, which it's a very good price and the peak of price is made today, so even the bitcoin will drop, It will be around in 5500$ and no less than 5000$. |
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Bitcoincole
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October 20, 2017, 10:17:26 PM |
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When the bitcon fork is over, people will go back to altcoins. BTC prices will drop as a result and panic selling will start to kick off
I don't think that the price after the hard fork of the 25th october will drop like you said. As we see now bitcoin have a very good potential, according to preev now 1 BTC= 6040$, which it's a very good price and the peak of price is made today, so even the bitcoin will drop, It will be around in 5500$ and no less than 5000$. A lot of instances why bitcoin price drop the big impact is when there is a country who declares banned of ICO and exchange of rate. Because it can cause a lot of drop of coin to many users making panic. Plus a lot of fake news will come out and speculations makes struggles to the investor to withdraw or hold there coins. |
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