The Cause behind the Fall

[darkfox12]

I think you have a perfect accumulation of negative forces at play this week.

1.) South Korea non stop FUD
2.) China FUD again
3.) Bitconnect in the news, adds extra fear in the market on top of everything else
4.) I think this could be a very valid point but, the Futures Market has contracts expiring today.  There's a theory that Wall St ran up BTC prices in dec, shorted a ton of futures contracts, sold the BTC and now they can collect more today on the cheap when the contracts expire.
5.) Taxes, Chinese New Year, etc etc

All of these together creates quite a situation for a 30% drop.  What happens next is really important.

[AlexTheGreat]

Hey guys,


Reasons :

1) Selling orders ; when 20% of the stocks are exchanged and price all 80% at 1000X the value in one month like for Tron & co , then there are way more people holding HIGHLY PRICED Coins than people willing to buy them (20% vs 80%)

And when the 80% other holders want to benefit from the increase generated via the exchange of a minority of the tokens, boom : fall.

In order words: technical correction.

2) Regulation

3) People losing faith in crypto.

Indeed: Ripple fucked people with token that are not valuable in themselves. All educated cryptoguys know why, do your due dill on google. Tron & Verge & other Coin or even protocolls have fucked people by working differently that described.

Or more recently: MatrixChain RIGGED ICO; in regulated markets, they would go to fail for the reste of their lives.

4) Many tokens in circulation:

Too many competing tokens & protocols/coins are being exchanged right now  in comparison with the real economic impact:

It means that cannibalism rate is high: value come from one to the next, without economic impact to enhance the intrinsiec value to put some price floors.

You are welcome

[pri3oner]

As I know (news come from the same sourses) the reason is due to the regulation of the Chinese ICO and Korea. They both made the "NEWS" forthe crypto-currency market is goin dooown. But it's temporary, chillax.

[Glorious04]

Not all though. We all know Ethereum is getting better besides bitcoin flucking down. I strongly believe bitcoin price is going to recover may not be today or tomorrow but it will surely. So far bitcoin has not failed its believers. People just have to be patient for now.

[ynatopak14]

JP MORGANS is one of the most influential people that release a news on this that really dump the coin, why did he do this? well, it is not just that whales are into it and didn't saying what really behind this! they are just dumping the bitcoin to make more bitcoin in the next few days and getting ready for lightning! LN and zap will answer this in the 1st quarter of the year!

[frowsiter]

I am not concerned about the current fall of all crypto currencies including bitcoin because I believe they will definitely bounce back.
But I am interested in finding what is the cause behind this? What caused people to panic and what caused all the cryptos to dip so low at once?

This is not unusual drop in the crypto but the past is repeating itself along with few consequences like Korean exchangers ban and China ban. There is also part of communit which thinks that the crypto is going down this year and could drop to almost dark ages rates. But anyway we should be always positive about this market. It has got potential to rise again and show the dominance over each other. On top of this it is also mentioned everywhere that this year is going to be altcoin year. So we might see our little babies growing to teen age now. ;-) let’s not panic and forget about dips and crest.

[deepakg2m]

I think the major cause is Korea and China being against cryptocurrency whose news is constantly taking the price of BITCOIN down and down.But be patient it will rise soon so don't panic.