Global crypto market down - what may be the reason?

[semobo]

The main reason in my thought is that panic selling caused the downfall in cryotocurrency market.When China and Korea banned bitcoin or exchanges then other people also scared that their country also will ban soon so we need to make money from the bitcoin even if we face losses while selling.So it continues like a chain reaction all the people are continuing to do this strategy so the price is falling more

[1714702053]

1714702053

[1714702053]

1714702053

[teejaymuna]

I think the impending decision of the Chinese government along side their forth coming Chinese New Year are major factors for this price decline.

[ehrz22]

A lot of reasons are posted above with different explanations about why bitcoin price is dropping now. For me, I will hold my bitcoin now because there is a high chance of possibility that it will increase again base on the graphs I saw posted everywhere. Besides selling your bitcoin will not give you profit because of the very low price now. Just hold and believe that it will recover again.

[francesyrus]

Dear community members,

I believe everyone has noticed today's global downfall of crypto market. Most of the assets are down by more than 15% and bitcoin is heading towards 10k mark.

I am surprised to see the downfall because I was not able to find any significant news which may have caused this downfall.

Ami I missing something here? Can anyone please enlighten us with the possible reason?

Thanks!

Some bitcoin holders are doing panic selling of their bitcoin or other crypto currency. Maybe because some are afraid of the news from social medias that governments are banning crypto currency.

On this graph it explains that bitcoin is always going down early months of the year and have come back again before the year ends.

[Glutius]

Again, the news background from China. The eastern wind blew on the background of the fall of the crypto-currency, in order to aggravate the process even more. Nothing surprising. This has already happened more than once. The last time in the spring, when China banned the holding of ISO in itself, but afterwards put forward a refutation. Do not worry.

[Xenrise]

These are the possible reason why the global cryptocurrency market is down: JP Morgan created a FUD again, the nature of crypto market during mid January and bitconnect site is down.

The JP Morgan FUD, I knew this one is coming. since that it is January again, we have a crypto market dump during this time. And I believe that all markets are all healthy right now. We don't have to worry a thing. Back to JP Morgan's FUD, his team stated that cryptocurrency can be ban by governments. That made the price go down dramatically.

Another reason was the banning of bitconnect lending and exchange site. This made the whole market bleed actually. I heard that there was someone on reddit that invested a big amount amounting $500,000 and he's asking for help(advice etc.). Because that money was a business loan. That's his life savings.

[shintosai]

A lot of reasons are posted above with different explanations about why bitcoin price is dropping now. For me, I will hold my bitcoin now because there is a high chance of possibility that it will increase again base on the graphs I saw posted everywhere. Besides selling your bitcoin will not give you profit because of the very low price now. Just hold and believe that it will recover again.

it will take some time and for sure many of the weak hands will sell their holdings, for those reason behind the only thing that I believe is bitcoin and those quality cryptos inside the market will rise back so better to keep calm and hold your investment.