Bitcoin plunge

[akhilsh6896]

Why did bitcoin value drop in last few months?

[Anti-Cen]

Three reasons for the drop

1. Bubble
2. Fees
3. Won't scale

I am not waiting around for the development to fix it and have a stop-loss at $10,000
and I have looked at Lightning and can only see speeds going up a little and they way
they describe the benefits is like saying that a push bike can do 120mph but forgetting to say
"But only if you throw it off a cliff"

Hubs charge fees and are mini banks and could well force costs upwards
See https://www.youtube.com/watch?v=MpfvhiqFw7A and hear what he says
towards the end.

 

[Bloomie]

People joining the hype train of shitcoins so they could make easy/quick profits. Altcoins are pumping hard still. Some people don't understand that if you want a good investment you have to find a good product, and BTC has always been and will continue to be a good product. Once the hype starts wearing down for those pump coins they're gonna start shuffling money back into BTC or some of the other bigger coins. The market will be back sooner or later.

[Essaint56]

People joining the hype train of shitcoins so they could make easy/quick profits. Altcoins are pumping hard still. Some people don't understand that if you want a good investment you have to find a good product, and BTC has always been and will continue to be a good product. Once the hype starts wearing down for those pump coins they're gonna start shuffling money back into BTC or some of the other bigger coins. The market will be back sooner or later.

Altcoins are also plunging right now. Yeah, people are now trying to diversify their portfolio. Bitcoin is on the hand doesn't take much of a hit. The price of bitcoin levels Its pretty reasonable because of the current FUD's.

[Bloomie]

People joining the hype train of shitcoins so they could make easy/quick profits. Altcoins are pumping hard still. Some people don't understand that if you want a good investment you have to find a good product, and BTC has always been and will continue to be a good product. Once the hype starts wearing down for those pump coins they're gonna start shuffling money back into BTC or some of the other bigger coins. The market will be back sooner or later.

Altcoins are also plunging right now. Yeah, people are now trying to diversify their portfolio. Bitcoin is on the hand doesn't take much of a hit. The price of bitcoin levels Its pretty reasonable because of the current FUD's.

That's true they might be plunging, to be honest I haven't looked at the price in the last couple of days and have just enjoyed my weekend without troubles 

I've seen people mention that you should always diversify your altcoin portfolio with at least 50% of your money in BTC, because during a dump your value won't go down as much. I would much rather stay out of altcoins altogether unless there was one I really liked and believed in, but most of the ones that were pumping in the last couple of weeks had no reason behind their pump and were only making whales richer.

[CodyAlfaridzi]

Why did bitcoin value drop in last few months?

Are you sure? This is not correct. Bitcoin continuously making a new all-time high since October last year, peaked at December, and you said it has been dropping in the last few months? It has dropped since mid-December after making a 19K ATH and this couldn't be more normal. This is how the market cycle goes, whenever there's a rise, there will always be a correction for it. Heck plunge to 13K is still bullish, some people are expecting it to go 8K.

[Herbert2020]

Why did bitcoin value drop in last few months?

are you an idiot or just spreading FUD?
have you ever bothered to look at the price history? some charts for example!

when you look at monthly price moves even a 5 year old can see price has been rising not dropping. lets say by "last few" you mean last 2 months. price was $6700 2 months ago today!
and it was $4800 3 months ago.
in short for the past 12+ months price has been rising and only had a drop which lasted 8 days and that stopped on 2017-12-23 and it has not moved more than 10% from that day.

[omonuyak]

Why did bitcoin value drop in last few months?

I think the reason why bitcoin price keep dropping this days is because of the regulatory issues cryptocurrencies is facing around the world. There is a very high rate of uncertainty across the cryptocurrencies market because of this and I seriously believe that governments will not be able to regulate bitcoin and at the same time cannot stop it existence. Bitcoin is going to recover immediately this resolved.

[sjefdeklerk]

BTC failed as a payment system and has no future. Even a bitcoin conference in Miami stopped accepting bitcoin payments because they were too expensive, that's quite a bit of (sad) irony: https://news.bitcoin.com/miami-bitcoin-conference-stops-accepting-bitcoin-due-to-fees-and-congestion/

[buwaytress]

I was just saying how much like goldfish the speculators here are, extremely short memories. Open up any chart, look at the past 12 months, 6 months, even 1 month and then ask again what kind of plunge are we really looking at. If anything, I was prepared for a much, much stronger bear pattern so this sideways movement hovering below $15k is pretty underwhelming to me. Am enjoying it as much as possible, if this is as low as the dip will go, I can't get enough.

BTC failed as a payment system and has no future. Even a bitcoin conference in Miami stopped accepting bitcoin payments because they were too expensive, that's quite a bit of (sad) irony: https://news.bitcoin.com/miami-bitcoin-conference-stops-accepting-bitcoin-due-to-fees-and-congestion/

Say you and the legion of new accounts who can't possibly have been around long enough to qualify for such a statement. Do you really not know the news source you have is anti-Bitcoin, btw? Miami conference haha. Even the weekly coffee meetings in a city near me are still taking Bitcoin.

[sjefdeklerk]

Say you and the legion of new accounts who can't possibly have been around long enough to qualify for such a statement. Do you really not know the news source you have is anti-Bitcoin, btw? Miami conference haha. Even the weekly coffee meetings in a city near me are still taking Bitcoin.

Eh ? You obviously don't even know what you're talking about, this is a huge conference: https://btcmiami.com/

And a coffeemaker accepting bitcoins, so you pay $35 fees for your cup of coffee ?

[Ararbermas]

Why did bitcoin value drop in last few months?

for sure because of the demand of supply in the market and no other causes. But this scenario is normal which is its always happened but i am wondering why bitcoin valued didn't grow until now its been 2 months and the value still fluctuating around 13k-14k. Maybe after this scenario it will go higher more than our thoughts, and i think on this moment it gaining some strength to rocketed again and reach the all time high value.

[Denker]

BTC failed as a payment system and has no future. Even a bitcoin conference in Miami stopped accepting bitcoin payments because they were too expensive, that's quite a bit of (sad) irony: https://news.bitcoin.com/miami-bitcoin-conference-stops-accepting-bitcoin-due-to-fees-and-congestion/

Oh my god!
We are all done! Bitcoin failed!
Guys it's over! Let's all sell that Bitcoin crap thing and get some gold, USD or chocolate cookies.
You heard here first. Bitcoin has no future! 

Dude seriously, what's wrong with you?
Bitcoin will work as payment system pretty well in the near to mid term future.
However if I mention Lightning Network it's probably just vaporware for you and totally centralized and controlled by a few entities right?!

[Cobalt9317]

Asian country having a false information regarding bitcoin that is why it doesn't increase in value. central-bank-of-indonesia-warns-against-all-cryptocurrency the masses in Philippines are also discouraging a person to use bitcoin, it is in every news in the Philippines lately, Cryptocurrency is affected if the news spreading is about them, just like 9/11 attack the price in usd is affected that time.

But it will not last this year, when the media doesn't have anything to report they will go back to cryptocurrency news.