JimXcrab (OP)
Jr. Member
 Offline
Activity: 42
Merit: 1
|
 |
January 10, 2018, 06:18:39 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
|
|
|
|
|
|
|
|
"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
Fippy
Full Member
Offline
Activity: 252
Merit: 100
UNCLOAK™ - Cyber Threat Detection Powered by EOS™
|
 |
January 11, 2018, 07:02:43 AM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
it is going up again, the whole market started to go down for a while, and i made some profits just by buying some altcoins  But it is going up, it all was a FAKE fud and that is the reason of why a lot of people were scared and they dumped all their coins. |
|
|
|
TERA2
Full Member
Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
|
|
January 11, 2018, 07:07:19 AM |
|
The more appropriate question is why is it still up in insanely high amount of 1300% from the previous ATH? Not why it's made a tiny retracement from the bubble high.
The peak of 20,000 was not a real price bought by the whole market - it was just a peak bought by a few traders. Since the craziness ended there that peak is gone and the price stabilizes to where there is actually support.
|
60659 📦
|
|
|
Herbert2020
Legendary
Offline
Activity: 1946
Merit: 1137
|
|
January 11, 2018, 07:10:47 AM |
|
reason?
price going up and down like this (which is small percentage) doesn't need much of a reason. it is normal fluctuations of the price. although this time it is accompanied by some FUD which is making things a little bigger. and the FUD is about banning bitcoin (surprise surprise) in some random country (Korea).
recovery?
yeah, eventually. everyone needs to be able to buy back what they have been selling on tops and then accumulate more in order to get ready for the next phase which is the rally itself.
|
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
|
|
|
|
armansolis593
|
|
January 11, 2018, 07:27:17 AM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
Well i think its the FUD all over the news and internet articles that people are reading or viewing, those who are new to bitcoin always read news and sometimes look at internet articles which defame bitcoin, it started when china ban bitcoin from their country and people think that it will follow a chain effect and bitcoin will be ban to from the other first world country. Recovery of the price will take sometime as the the FUDs news fades off, certainly price will be good for bitcoin this year. |
|
|
|
|
|
Dread Pirate Roberts
|
|
January 11, 2018, 07:27:51 AM |
|
No exact reason for it . i think the most persuasive bitcoin price is the volume market or by person or company
and some terrible news like hacked exchange new something like that . and also it will affected with altcoin price too from someone play a thing in their crypto coin to make some profit from it .
|
|
|
|
|
Kemarit
Legendary
Offline
Activity: 3066
Merit: 1351
|
|
January 11, 2018, 08:35:02 AM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
The main reason is the high cost of transactions resulting in slow confirmation times which everyone here has experience one time or another in their bitcoin journey. And this is the main argument that has been going on for years, specially for those who love to attack bitcoin. As far are how bitcoin manage to recover, if there's some positive news surrounding the market, it will slowly push the price and possible go for another massive bull run because everyone doesn't want to miss the hype train to make profits. Case in point, check the history of bitcoin early last year (Jan-Apr). Around February, there were noise that SEC will accept Winklevoss twins bitcoin ETF proposal, we see a massive pump surpassing $2,000 if I'm not mistaken. But when the news comes out that SEC rejected it, the market crash, a pullback of ~$1000. And then in March or April, Japan enter the picture another bullrun started pushing the price to go even further. And now the rest is history. That's how the market works in a nutshell. |
|
|
|
|
BUK2016
|
|
January 11, 2018, 09:47:42 AM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
Well, there are no major cause than the normal market fluctuation as a result of the forces of demand and supply. There has been a high demand for ethereum at the detriment of bitcoin as a result of the high transaction fee couple with FUD in some countries like korea. |
|
|
|
|
|
jseverson
|
|
January 11, 2018, 11:30:44 AM |
|
There are two major possible reasons:
1) As others have mentioned, the fees have kind of killed Bitcoin's utility as a currency. The fees are only worth it if you're transferring large amounts, and even then it's going to take a while to confirm unless you pay an absurd amount. This problem doesn't look like it will go away until we get significant Segwit adoption, or get the Lightning Network, and we don't know when either will happen. I'm guessing this is turning off some people.
2) The South Korean market uncertainty -- news outlets are reporting that South Korea plans to ban Bitcoin trading through exchanges a la China. This is a significant blow considering the size of their cryptocurrency market. Their biggest exchanges were also raided under the guise of tax evasion, so saying their government is hostile to crypto would be an understatement. Pretty much every altcoin is down too, so I'd say this is a likely reason.
Of course, it could just be Bitcoin's volatility at work again. Recovery is always unpredictable, but it always comes anyway. I wouldn't worry about it.
|
|
|
|
amishmanish
Legendary
Offline
Activity: 1904
Merit: 1158
|
|
January 11, 2018, 05:41:49 PM |
|
Just a few months back there was similar huge FUD about China banning bitcoin. (This time its Korea). I was a relative newcomer back then and the price dipped to almost 5000 USD which was way below my initial entry-point. Guess what, I panicked like every other newcomer and instead of holding or buying, sold. Regretted it within the month as it soared again. These things keep happening. The FUD is particularly strong this time because of the high transaction fees and stuck transactions combined with the twitter handle @bitcoin and blockexplorer being co-opted by bcash marketing machinery. The more important question that you asked is how it'll manage to recover. Looks like its not answered yet, so here's the reasons why i believe it will recover: 1. The new wave of entrants will realize that just having bigger blocks is only a temporary solution and the really serious efforts for scaling are actually spearheaded by bitcoin and not by the hundred of clones. 2. Discussion will move onto LN and terms like malleability, payment channels and decentralization will take centre-stage. 3. Another wave of people will realize that bitcoin doesn't just aim to be a retail currency but a settlement currency. Its another matter that you can buy all the coffees you want once LN is properly deployed and in vogue. Don't worry. Just Read, Learn and Hold. If you have already gone through the basics of Bitcoin, watch this for intro to LN: https://youtu.be/8zVzw912wPoLook at the problems involved and solutions being processed. Its exciting! |
|
|
|
|
harizen
Legendary
Offline
Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
|
|
January 11, 2018, 06:44:12 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
Google "Bitcoin Price News" and from there you can made a speculation on why bitcoin moves much recently. Not an exact reason but you can take that as reference. And besides if you will check the recent price movement, the price is extremely experiencing a roller coaster movement where the margin of + and - are almost equal. And now for you question about how it will recover again, don't think too much and just watched how the price moved. It may be brought up by positive speculation or something else. We can't tell exactly what will happened so just go with the flow. |
|
|
|
Tonyfredzy
Newbie
Offline
Activity: 43
Merit: 0
|
|
January 11, 2018, 08:56:02 PM |
|
The more appropriate question is why is it still up in insanely high amount of 1300% from the previous ATH? Not why it's made a tiny retracement from the bubble high.
The peak of 20,000 was not a real price bought by the whole market - it was just a peak bought by a few traders. Since the craziness ended there that peak is gone and the price stabilizes to where there is actually support.
You're so correct. The crazy ascent to ~$20,000 started from ~$11,000 level because I can remember very well I wanted to buy some coins a Tuesday morning (local time) and was waiting for it to come down from 11500 but on the contrary it took speed and raced through to $20k. Normally, $13,000 is a very reasonable base after kicking off from around $11,500 price. You can't be more correct @TERA2 |
|
|
|
|
|
arpon11
|
|
January 11, 2018, 09:39:39 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
Some time when bitcoin prices is going down is due to the corrections after a long upward movement of bitcoin pricing and most times bad and rumors news that do come out about. We have to actually prepared for this two things if we actually want to make it big in cryptocurrency. You should buy the rumors and sell the news if the fundamental of this market and don't expect everyone to be right always do your own research about any coins. |
|
|
|
|
|
minersday
|
|
January 11, 2018, 09:47:14 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
Wow, are you seriously asking this? you are so desperated for this. The price has been going down in the last few hours because there was a massive FUD, nothing more than that, you guys seriously need to stop worrying about the price changes. And just like it always happens, the price is suddenly going to recover and you all are going to say "well, why have i sold?" |
|
|
|
|
|
osasshem
|
|
January 11, 2018, 10:29:05 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
From a little article I read, that there is some outrage been faced by most crypto bodies like coinbase, Gemini and Bitstapm etc. Has been the cost of the price drop, and also from GDAX tweet, from their twitter handle. |
|
|
|
|
|
orions.belt19
|
|
January 11, 2018, 11:31:06 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
Well, there are no major cause than the normal market fluctuation as a result of the forces of demand and supply. There has been a high demand for ethereum at the detriment of bitcoin as a result of the high transaction fee couple with FUD in some countries like korea. Along with the FUDs and high transaction fees, I think another reason why the bitcoin price went is because all the new and FOMO buyers has stopped buying. It reached a peak and rapidly increased last year because there was a sudden surge of new buyers who didn't want to miss out on the hype. Now, bitcoin is settling on the price of those who still continue to support and are strong hodlers. There is a continuous retracement because of this support by many bitcoin users. Despite the numerous FUDs and crazy transaction fees, many still continue to HODL so it remains at about $13K. Expect it to rise again and possibly reach another boundary of $20K possibly. Soon it will be time for the others to profit. |
|
|
|
|
parobber
Member
Offline
Activity: 172
Merit: 11
|
|
January 11, 2018, 11:42:24 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
The main reason is FUD because it is reported that South Korea will ban Cryptos, there's a lot of panic and price crashes. How does the price recover? The panic subsides as the smart people hold and the smarter people purchases more coins from the weak hands until there are no panickers left. |
|
|
|
sjefdeklerk
Jr. Member
Offline
Activity: 154
Merit: 8
SODL
|
|
January 11, 2018, 11:42:52 PM |
|
Also make sure to read this: https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800The main reason is FUD because it is reported that South Korea will ban Cryptos, there's a lot of panic and price crashes. How does the price recover? The panic subsides as the smart people hold and the smarter people purchases more coins from the weak hands until there are no panickers left.
Until it doesn't recover anymore and the 'smart people' have lost everything. I don't know if this will happen anytime soon (nobody knows) but I'm confident it WILL happen one day. I do see that more and more people start to realize that BTC failed as payment system and LN won't be a real solution. And then countries like China and Korea banning BTC alltogether ... The future looks pretty bleak for BTC. |
|
|
|
|
amishmanish
Legendary
Offline
Activity: 1904
Merit: 1158
|
|
January 12, 2018, 08:51:48 AM |
|
The medium article has been refuted quite a few times in the comments section. I wouldn't read much into the article because of the assumptions made there. The writer has changed his position in subsequent comments to "It won't work because the central entities would be too large". This is again a big assumption. Any type of payment channels can be established between parties depending on the amount of funds they move. Some will be large, some will be small. Until it doesn't recover anymore and the 'smart people' have lost everything. I don't know if this will happen anytime soon (nobody knows) but I'm confident it WILL happen one day. I do see that more and more people start to realize that BTC failed as payment system and LN won't be a real solution. And then countries like China and Korea banning BTC alltogether ... The future looks pretty bleak for BTC.
Just the kind of assumption that people have been making from Day 1. We all have the bias of presenting our opinions as facts. That is what you are doing here. Just hear yourself. "LN won't work", "BTC will fail as payment system", "China and Korea will ban BTC". Any other major predictions you feel like making today?? Ohh and lets please make this a positive discussion. Nobody likes FUD on the forum. |
|
|
|
|
|
Visbay
|
|
January 12, 2018, 12:11:21 PM |
|
what do you think the exact reason about this ? - thanks for sharing ! more power
There is only reason that its price is going little down I think a lot of people again start holding because if you remember last month its price was very high but then in last week its price become low and then after few days its jump to high because some of the people they start selling bitcoin but when they fell that’s its price is going more high then again they keep it hold which make bitcoin price down and now a days bitcoin price is again going low. |
|
|
|
|
|
