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canvan
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December 22, 2017, 06:26:51 PM |
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The weakening of the virtual currency, Bitcoin is thought to be due to the booming influence of Bitcoin Cash (BCH), one of the cryptocurrencies that has recently started to affect the market. Bitcoin Cash price increase trend, according to him, one of them is caused by the transition from Bitcoin owners to Bitcoin Cash. Bitcoin's price decline follows supply and demand laws, while Bitcoin Cash has the opposite.
No one is moving from bitcoin to bitcoin cash, certainly not institutional investors, merchants or exchanges. The cause of the price going down is just ordinary speculation since it moved up much too fast and in fact bitcoin cash dropped more than bitcoin in the last 24 hours. |
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posi
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December 22, 2017, 06:28:18 PM |
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The same question was asked on the below thread. Check it out and you find the reason behind the dump in price of bitcoin https://bitcointalk.org/index.php?topic=2632385.msg26796203#msg26796203 |
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kushanuradha294
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December 22, 2017, 06:29:10 PM |
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A possibility of a price correction was always coming. I think this is due to that. Also those news concerning Asian region might be a factor as well. Hopefully it will not go below $10000.
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Dkrypt0
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December 22, 2017, 06:30:37 PM |
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There were a lot of people last week saying it wasn't a bubble.
Where did they all go?
I'm right here actually, and still saying that its not a bubble nor is this a bubble popping... this is in all honesty a healthy and much needed correction. Transaction fees are at an all time high, transfer speeds are extremely slow, and there has not been any good news besides CME futures. This makes sense! |
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lillyann
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December 22, 2017, 06:32:49 PM |
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A lot of people now sell because of the price of + holidays. Buying presents. The price depends on demand and price. I know that there is now a lot of uncertainty about what will happen in January 2018. What will be the price of BTC.
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m9shn9sh
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December 22, 2017, 06:37:18 PM |
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The site coinmarketcap shows that more than 100 billion were withdrawn in fiat, possibly because of this, such a fall. And all the currencies are somehow tied to bitcoin, so everyone falls.
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goldade
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The Standard Protocol - Solving Inflation
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December 22, 2017, 06:41:33 PM |
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Why bitcoin start going down and down will it goes below 10000$?
The reason for the downfall in the price of bitcoin is due to the high rate of selling of bitcoins for the festive season. Going through the site's market cap, we will see the reason for this downfall as there are a lot of withdrawal of bitcoins into fiat. I'm very sure the price of bitcoin will bounce back before the middle of January. |
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flower1024
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December 22, 2017, 06:51:16 PM |
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Why bitcoin start going down and down will it goes below 10000$?
The reason for the downfall in the price of bitcoin is due to the high rate of selling of bitcoins for the festive season. Going through the site's market cap, we will see the reason for this downfall as there are a lot of withdrawal of bitcoins into fiat. I'm very sure the price of bitcoin will bounce back before the middle of January. Yup the reason what you aid is right, people are converting BTC to fiat to enjoy their holidays. That is why the price is dropping and some panic sellers also selling their coins. But next month again it will pick so don't get panic and just watch the market how it will fluctuate in coming days. |
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mrjoy15
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December 22, 2017, 06:58:46 PM
Last edit: December 22, 2017, 07:44:00 PM by mrjoy15 |
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There are some very big guys are liquidating their BTC portofolios. That's why this is happening. Doesn't matter how dip Bitcoin going ! Important is how high Bitcoin can fly soon after. I hope everyone got in on the dip!
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oginiimaoyani
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December 22, 2017, 07:15:58 PM |
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In my understanding supply is greater than the demand people are selling bitcoin for cash due to the festive season to have more to spend and that has really affected the price, and also i guess miners has stopped mining which has led to the increase in the fees.
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grumpy619
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December 22, 2017, 07:16:56 PM |
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People are selling Bitcoin not because they are no more interested but rather they are in need of money because of the season. So eventually, its market value is expected to be more expensive. All we have to do s to hold and patiently wait.
That's an awful lot of xmas shopping going on today then! yes, I am of the same opinion, therefore i dont worry. The reason why bitcoin is in the dump, that just expected correction and exit of major players for the holidays. Im waiting the growth of BTC and altcoins after 10 januar. |
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Dzernej
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December 22, 2017, 07:19:03 PM |
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I also think that it will grow again...
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xSkylarx
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December 22, 2017, 07:28:14 PM |
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Why bitcoin start going down and down will it goes below 10000$?
The basic reason of the price going down is because of the people who are selling or taking their profit , The bitcoin price depends on its demand so as the demand decrease the price would fall down but I think nobody knows if it could goes below $10,000. |
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RudeeTam
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December 22, 2017, 07:35:37 PM |
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Because that's just how it works. The price was so high that people wanted to to cash out while they still can since they're afraid that it might go down again which is currently happening now. Once it's very low, people will buy again. Simple as that. Just wait for the next big news about bitcoin and strategize from there.
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mongkie
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December 22, 2017, 07:38:02 PM |
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there is a correction happening.
and offcourse people are converting to fiat for the holiday season.
the market starts to become more volatile since the entrance of the wall street traders.
expect more
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Yarsk
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December 22, 2017, 07:38:49 PM |
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Well the down fall in price of bitcoin is expected due to the fact that many holders of bitcoin will want to sell they bitcoin because of Christmas, but if you are a patient holder you will stand to gain a lot because people will buy again after this season and the price will rise so high that you make a lot of gain very soon. So am not surprise, we just hope that the high transactions fees will will decrease soon if not the transaction fee of bitcoin will eat up all the profit of bitcoin soon.
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MrSpasybo
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December 22, 2017, 07:41:13 PM |
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I think The Sharks want to keep BTC at 10.000$ in 2017. But in 2018, may be 100.000$! So let's hold to die
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TrustyGrape
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December 22, 2017, 07:48:10 PM |
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I think it is going down mostly because of news manipulations.
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bitcoinking11
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December 22, 2017, 07:49:57 PM |
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Well, It is not unexpected. Many people believed I would happen sooner or later. But it is to be seen how much it goes down. Will it go down below 10k or not.
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Wipangga
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December 22, 2017, 07:52:28 PM |
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Why bitcoin start going down and down will it goes below 10000$?
I think its because today is end of the year going to christmas season and new year i think that was the reason why bitcoin was dump but after this bitcoin will go back to normal again. I agree with you, by the end of 2017, our chance to invest in bitcoin, Because the price of the end of this year with the price of dump, then next year 2018 we will get more profit, So we better bit hold bitcoin for long term. |
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