fellahst (OP)
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January 30, 2018, 02:54:50 PM |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
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Agamemnus
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January 30, 2018, 02:55:38 PM |
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The news was talking about South Korea as the reason this year.
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PASHMAAL
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January 30, 2018, 02:59:59 PM |
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The news was talking about South Korea as the reason this year.
I do not think that there can be any special reason for that, but may be the wrong news in the market can dump the price of crypto currency. Other wise i cannot see any other reason for that. |
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traged
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January 30, 2018, 03:00:37 PM |
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There are more factors but main is lunar new year in east Asia...I read that 100 billions USD are being spent for this event and people in east Asia withdraw money from crypto....
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green547
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January 30, 2018, 03:00:56 PM |
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Looking back at the past charts, there is always a decline in the market during January. There is no reason to panic and if you believe in the crypto tech and how it can change the world, just hold.
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Anti-Cen
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High fees = low BTC price
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January 30, 2018, 03:01:55 PM |
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The news was talking about South Korea as the reason this year.
is that what they told you and it's nothing to do with USDT that's being used to pump up Bitcoins ! https://www.youtube.com/watch?v=MwKYbT9MoPEMaybe lots of people can see that bankers took over here when transactions fees hit a peek of $55 of they have see the network map of banking hubs on the lightning network https://lnmainnet.gaben.win/This is not mama and papa banking like we were told, this is international banking within the network and a lot of people will want nothing to do with it |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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Noospheres
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January 30, 2018, 03:06:34 PM |
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Just take a look at the market history from previous years at around this time. History tends to repeat itself.
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notyours
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January 30, 2018, 03:22:33 PM |
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Well i do think it is due to multiple withdrawal of users in their bitcoin account just to have a wonderful christmas and new year celebration. Many supply is being available in the market which causes the price to went down. But just after a few weeks it will still go back to its winning way and move forward. Same with the graph that can be seen we can assure ourselves that it will still grow.
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kpcda
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January 30, 2018, 03:32:03 PM |
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i dont think south koreian news main effect for this price drop, main reason is price correction.in 2017 December BTC price went to $ 20000 then it drop and it is like bubble .then it bubble collapse and price came drop .all new member panic and sold all the btc like panic sell.then south korian news came and bug FUD went through the market . i think BTC price will go us in FEB and match like last year in mid 2018 BTC will reach to $ 20000
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Anti-Cen
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High fees = low BTC price
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January 30, 2018, 03:32:57 PM |
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The news was talking about South Korea as the reason this year.
Nothing to do with fees going as high as $55 then or USDT all being fake and used to pump Bitcoin price up then ? Yeah I know lightning network will save us but have you seen the map https://lnmainnet.gaben.win/This is not Bob sending coins to Alice, this is banking hubs starting to get connected and are not ready yet for fee paying customers quite yet "South Korea"  and it will be Kim from North Korea next week |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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freecastle
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January 30, 2018, 03:35:17 PM |
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No wonder after an end-of-year run we had in December, take a step back.
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Bolt Brownie
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January 30, 2018, 03:41:26 PM |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
Well I recently saw an article showing that data, with charts from the last 3 years or so, and there was a dip every January, then followed by a very bullish trend. They think it could be related with people exchanging crypto for fiat, in order to buy presents and other expensive things, since it normally happens very close to Christmas and other holidays. Not saying that this can't be true, but as the article stated, there is simply not enough that, so we can't really rush any conclusions. Right now, there are plenty of bad news regarding crypto, and that is probably dictating this negative trend (tether possible scam, south korea regulations, exchanges hacks, etc). As usual, crypto market reacts to fud since it's mainly composed by retail investors, and still have low liquidity. I think all of this will change in the future, and crypto, and specially bitcoin, manages to solve their problems and achieve real adoption. |
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Reid
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January 30, 2018, 03:44:45 PM |
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It is a celebration for the end of the year. They withdrew it to fiat and spend it all to party.  Who knows? It happens with bitcoin and other crypto currencies. It could just be a dump and no other reason at all. If there is one who will tell it then it is the market but it is hard to monitor every exchange one by one. |
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1NV3ST0NM3
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January 30, 2018, 03:48:50 PM |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
I think this might just be a pretty general trend of each year. People try to cash out there deposits for meeting up their expenses this year. FUD is always a great cause of bitcoin falling down continuously but as you see the stats of past years. One thing which is different this time is that the market dominance has fallen upto a great extent this time. Generally in all previous years even with the fall in price we never saw bitcoin's market dominance getting affected. This time it has come down to just 33% and today was yet another correction day for cryptos. |
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reck1ess
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January 30, 2018, 03:54:33 PM |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
I notice that too, maybe the reason why bitcoin price drop every January is that many people are following the previous graph which makes January as selling month. For if you compare every graph from different years there are some similarities. |
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Mpamaegbu
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January 30, 2018, 03:58:31 PM
Last edit: January 30, 2018, 04:09:19 PM by Mpamaegbu |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
Besides making withdrawals and converting to fiat to buy gifts and items for merriments as adduced by posters above (I really don't believe this angle), Bitcoin always dips in January because as the beginning of the year every investor wants to take profit and reinvest in a new project to widen his investment elsewhere. This scenario will repeat itself next Jan also, at least now that btc is getting more popular. |
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itf991
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January 30, 2018, 04:01:04 PM |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
All cryptocurrencies were pumped before the holidays last year and January seems to be the month of correction. It's time for good news to pop up and move the market to the next level. Until then there is plenty of time left to strengthen our portfolios. |
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xuv500
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January 30, 2018, 04:04:47 PM |
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The price of cryptocurrencies has been down the last three years in January. What is the reason for this regular dip?
All cryptocurrencies were pumped before the holidays last year and January seems to be the month of correction. It's time for good news to pop up and move the market to the next level. Until then there is plenty of time left to strengthen our portfolios. Agree. Apart from the point that bitcoin's price is down due to correction another thing is China will be in their vacation starting January till March, probably price may go up from April. China is contributing 75% of crypto market directly or indirectly even though there's a news that China have banned bitcoin transactions. |
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Anti-Cen
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High fees = low BTC price
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January 30, 2018, 04:07:06 PM |
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I notice that too, maybe the reason why bitcoin price drop every January is that many people are following the previous graph which makes January as selling month. For if you compare every graph from different years there are some similarities.
Last January fees were only $0.10 and transactions fees were livable and we didn't have hub banker take over using the lightning network and we were not in such a big bubble. Tulip's had bad weeks to until one day it didn't so was that in the charts too. |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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Carlsen
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January 30, 2018, 04:11:22 PM |
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I think that the price in December was simply too high.
A correction had to come.
And now that many people have seen that the price of bitcoin moves both ways, it is harder to get up again.
In addition there were some regulations and news about payment service providers stopping to accept bitcoin.
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