Does the decline of the market have anything to do with the government's policy?

[uobaaagrf]

At present, some countries oppose bitcoin. So this time the market decline and these countries have a relationship?

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[pooya87]

no it is mainly manipulation and then followed by people's idiocy who only invested in bitcoin to become rich and never understood what bitcoin is.

in fact if you understand the reason for existence of bitcoin, every time a government even talks about bitcoin in a remotely negative light you would start buying a shitload of it. because when the government shows their fear of bitcoin that is when you know bitcoin is working as it should: a decentralized censorship resistance digital cash.

[jundel]

In my place the government do not prohibit BTC. So here, they don't have anything to do with the market. I don't know with the other country. I've only heard that China and South Korea. There might be relevant in decline of market if those countries having large part of the market that can put it down.

[SONG GEET]

No any government other than Chinese have officially announced ban on crypto trading.

Recently south Korea have just made a small comment on possible ban and market reacted in crazy way.

Correction like this are necessary for healthy price growth.

[jimmywh]

I do believe the decline in price we see right now is a consequence of several factors. We have the uncertainty around China and South Korea. But at the same time we have the futures that was implemented a while back running out.

[Desscount]

No any government other than Chinese have officially announced ban on crypto trading.

Recently south Korea have just made a small comment on possible ban and market reacted in crazy way.

Correction like this are necessary for healthy price growth.

I agree with you. and I believe, behind this there is a whale playing here and is waiting to buy lots of bitcoin. now panic is happening, so they're laughing

[kiboloves]

This is related, because government policies affect a lot of mainstream media, and the news of these media will affect the mood of investors. This is obvious in the past historical experience.

[racebum]

This is related, because government policies affect a lot of mainstream media, and the news of these media will affect the mood of investors. This is obvious in the past historical experience.

absolutely

it doesn't even really matter if it's legitimate regarding the concern. if holders in korea panic and believe they may not be able to sell due to a ban they will run as it seems a good idea to get out before everyone else.  in a worst case scenario they are correct.

as for the manipulation comment. if it is, someone is really going to a lot of trouble to cover their tracks. i was watching last night and only a handful of trades were major players like 50 coins etc. most were all fractionals and under .5 which is what i would expect to see from panicking home investors

i'm watching 10k and if that breaks 8k to see if we have technical support. if both of those fail you start wondering if the long term trend line will stay intact