Why Bitcoin is going down?

[brianc1]

We've seen massive 30-40% price corrections before, and it recovered, I don't see any reason why this time would be any different!

[crypto_Butterfly]

Because week hands are selling it and strong and clever hands are buying it.

[jrrigs]

yep its probably just the holiday dump. but 8-9kish is still not bad. It was the price like 2 months ago.

[stayeduptolate]

From my experience in the bitcoin from two to three years the price of bitcoin will not go down in the future but the price of bitcoin will fluctuate up and down in the future . But the price of bitcoin will not go down because now a days the demand of bitcoin will increases reguraly in the future so that the price of bitcoin will also increases in the future and it may always in increase in the future . But there are also a less chance of price of bitcoin will decrease but the price of bitcoin will increase is less than the price of bitcoin decrease.

[Mr.John19]

I think it will not go down below 10k mark, it is very critical. The reason behind the dropping of price is the investor cashing out revenue from their possession.  We all know that during this holiday season there are much more day spending money than generating money. This season, people are cashing out money to spend for their self, love ones and family.

[kevinZD]

If you buy a bitcoin, just hold it and don't sell it. You will regret if you do this, just hold it and the value of bitcoin will be increase after Christmas and New Year season, this is actually happened.

[enjotan]

Why bitcoin start going down and down will it goes below 10000$?

I dont know, we'll see what happens next. but in my view, this is normal and can happen in the market. Simply because many people are exchanging money and wearing it for Christmas or year-end holidays.

[Dudeperfect]

Bitcoin was way below than the current price and some people started buying at that level and most of them were institutional investors which boosted the price of Bitcoin and as a result, the early investors earned the profit around 500% to 1000% within 6 months so considering this growth, they decided to sell some holding in order to buy later during the dips and as a result, price is falling down. There are some other factors too but this should not be a subject of worry in my opinion because it will help Bitcoin to grow in the long run.

[Prodigye]

There are many reasons for it, there's been a lot of negative news recently and there may be whales cashing out. BTC often goes through corrections though, at this rate it will likely fall under 10000 USD but don't worry it will definitely come back up.

[imking]

The reason behind the price fall is the people themselves, based on the chart there are more sellers than buyers which means the price goes low when people are not buying bitcoins. To resolve this issue there should be more buyer than seller to help increase the price of bitcoin. Further more, most of the people are on holidays that they are leaving the jobs to other or pause at all thus trading are slow these holidays. I think the price will go up once the holiday ends.

[samarahewasht]

According to Coindesk, the cryptocurrency was trading at 13,155 (£9,822) after its value plunged by $2,000 US dollars in the space of 12 hours. It comes after a troubled week for Bitcoin in which a cryptocurrency exchange went bust in South Korea following a cyber attack. Coinbase, another exchange based in the US, also said it was opening an investigation into sharp price increases in the price of a new cryptocurrency called Bitcoin Cash.

[desklamp]

It would not go below $10k and the collapse will be temporary. People will still find a way to make the price rise again and reach $20k mark. All we need is to believe on bitcoin.

[coinoberg]

yep its probably just the holiday dump. but 8-9kish is still not bad. It was the price like 2 months ago.

That is right, it is just an holiday dump but I wouldn't like to see "one digit" thousands personally. I think that if btc hits below 10K can cause more panic selling in the market.

[jkinit2125]

Even it looks rude but people are now exchanging their bitcoin to Fiat because its christmas to buy some gifts and to celebrate Christmas. But how? Bitcoin is somehow has a factor of the law of demand and supply. Supply has increased due to the selling of people of bitcoin thus decreasing its value.

[Gotottack]

I cannot tell why this is happening either. I was expecting that if there would be correction, it would just be minor but seems like it is almost cut to 1/2 of its peak value. I am hoping it will recover really soon when all others are done panic selling. Also, I am surmising this is due to the increased value that it is trying to compensate the sudden blow up of Bitcoin's price.

[cosmoo]

Why bitcoin start going down and down will it goes below 10000$?

This is just a correction. If you don't know anything about cryptocurrency world - you panic

[Siopao]

Seven days ago when bitcoin have reached its highest peak at around $19k+ and now its $12k+ within 7 dyas it has decreased by 35%. I dont really have an idea why it continue to go down and the main reason of it. But im still optimistic for a positive outcome, that bitcoin will be back on track, hitting a high price and Im still and will hold my coin.  

[ikicha]

Bitcoin price crash after touch All Time High at $19500
This is big correction and Panic Sell moment, i dont know what happen, but this situation same like 1 years ago
Bitcoin price correction about 40% since All Time High
Hope will be recovery soon

[dynospytan]

Why bitcoin start going down and down will it goes below 10000$?

I've noticed also the price dumping. In a short of time bitcoin price decrease 40% of its value. I think one of the reason why it down rapidly is because of this coming Christmas. Many people are selling their bitcoins so they could have moneh on Christmas. But I know it will increase again once this season ends.

[cloud.runner]

Why bitcoin start going down and down will it goes below 10000$?

​​The Segwit2X hardfork will be held on December 28, all about the new Bitcoin fork. So servers are busy in current market. It is affect the Bitcoin value. In current situation all the miners are jump to altcoins only few of them are available in mining so transaction fees also increasing in crypto market. This is not a issue after hard fork it will automatically changed. Bitcoin value is raise gradually in crypto market.

This explanation is pretty reasonable.