Why bitcoin is going down this few weeks?

[Adedufira]

I found this recently that bitcoin is going down rapidly,
what would be the cause of this going down of BTC and how it would affect the crypto world.

Rumor has it that a great number of big wigs is challenging cryptos' value buying a lot up last year and then selling them all at once to tank the market.  To me it's just an opportunity to do something I should have done 13 years ago.

[NilaMutac]

If you really notice the total marketcap of cryptocurrency has been declining for about a month thats why bitcoin doesnt pump at all,if these investors will put their money back to bitcoin im sure bitcoin would skyrocket again,but this is a good opportunity for these altcoins because it can grow with these sideways.

[Cryptomagnus]

A lot of causes, not worth to analyze them. The real question is "what to do now?"
Until some days ago I was still optimistic, but now I see a so generalized panic that makes very difficult to remain cold.
We'll still hope...

[adam1230]

for few months bitcoin is out of bullish channel. now its inside of a bearish channel and drop will continue until it gets out of the channel.
For now it needs a daily close above 13.000 usd around. then we will start to dream about 40k

[Cryptolupus]

You can find a lot of opinions online about the "fall" of these days, but it seems that most people forget that - on yearly base - bitcoin still have a 1000% profit.
So, this is just a correction, due also to the incredible war that media and institutions started against bitcoin.
Actually, I'm surprised how well bitcoin resists to these attacks.

[Valovut]

Some big traders sold bitcoin and they buy some others coin, thats it the reason bitcoin is going down this few weeks.
Many newbie confused when BTC going down, But I think hold bitcoin in your wallet. Don't worry it will raise again.

[AngelSky]

Just because India banned cryptocurrency. That sort of things is always has a big influence on the market.

I think even India's ban on cryptocurrencies will not have such a big impact on the price of bitcoin, and I think there's a bunch of manipulators in the dark who want to arouse people's panic and then buy bitcoin at a low price, and now everything is Unknown, but what we need is patience and trust in bitcoin.

Hey people like you where did you get the information says India banned the bitcoin and etc. You people are completely share the incorrect information to guide the people in the wrong way. Please go the Coindesk and read the news on Feb-02 which spoken by the Finance minister of India. I think his name is some jetlee. He stated that they does not made it legal or not legal yet. They still analyzing to have the blockchain integration in future.

Now no more price dump in the chart so now you can hold the bitcoins or wait some weeks and sell it.

[Lewoll]

I found this recently that bitcoin is going down rapidly,
what would be the cause of this going down of BTC and how it would affect the crypto world.

Bitcoin and all Altcoins are volatile and there's no single Altcoin or even Tether could survive if Bitcoin ask continue to drop abruptly to the ground.
Many Cryptocurrency enthusiasts are worried due to the crisis and the weak holders are dumping their coins to prevent more loss from their investments.
People are selling their Bitcoin and Altcoins because they get profits and they want to enjoy their earnings before investing again into another coins.

[Lewoll]

in my opinion, many BTC users are beginning to switch to altcoin. as evidenced by the large number of altcoin users. and increased altcoin prices

I agree, Bitcoin holders are now seeing the brighter side of Altcoins than Bitcoin.
Bitcoin if couldn't hold its place as the most valuable Cryptocurrency then it would continue to crash because Altcoins are better than Bitcoin in terms of speed and scalability.
Today, we can't that investors are turning from Bitcoin into Altcoins because in my personal experience, I earned a lot of money from Altcoins than Bitcoin.

[Kozlov]

For me the problem is multifaceted.

First there is the Tether problem, which demands further scrutiny but is enough to shake the market significantly.

Secondly, there is the issues of ponzis, namely Bitconnect, Davor and the 'lending platforms'. They have taken a large amount of 'mom and pop' money from the economy with their demise and a lot of other speculators pulled the plug also.

Thirdly, the transaction fees recently have been way too high to warrant practical use of the network for anyone holding less than .5 BTC.

The lack of regulation, and even the rumour of any kind of regulation is enough to shake the market for a day or a week. The volatility that makes the market so intriguing for speculators.

I see a lot of issues at the moment that have led to the price drop, but things are still up from this time last year - which is something people forget.

[jmiro1]

This is the Altcoin section of this forum (in case you have forgotten). Your post is absolute relevant in Bitcoin Discussion but not here. However, the price or value of the BTC always make an impact on other Altcoins. Probably one or two Asian countries are responsible for this down. But the price has gone up today. It's one thousand more than yesterday.

[rumexx]

There has been a barrage of attacks on Bitcoin since third week of December 2017. First it was  China and then came  South Korea and just yesterday The Indian came up talking of Banning cryptocurrency. All these attacks breeds panic and  sell off begins. The whole market is flooded with bitcoins then the price have to fall.

[salterious]

Most likely because after the unnatural run up in December we needed a natural come back down to life and that is what Bitcoin is currently doing. Figure it is done resetting though, back to the moon time boys .

[Bit Tuka]

I think that the reason for the sudden decline of value for bitcoin is because of the increase in aupply when people sold their bitcoins last december. I'ts always been the case even for the past year.

[weav]

Because it has been going up to much the last months , that rise was not sustainable. So this was expected and calculated in , in a couple months it will be back again i think.

[cryptorampage]

From the starting of the year Bitcoin is having some problem. May be these are those facts for which Bitcoin is plummeted this session-

Facts we have seen this Friday -

1. According to the coindesk.com, Bitcoin plummeted to a two month of $78989 (approximately) on this Friday 02.02.18
2. The Global market of crypto currency is facing a little quake due to wiped out of $100 billion on this Friday.
3. According to the coinmarketcap.com , this Friday the total market capitalization of all cryptocurrency stood a $371739763803


Past and Future

The expectation of Bitcoin price hike has been increased several times within few months. Yesterday who could think it will come down to $5k to $6k and again hiked to $20k , No one knows the exact future figure.  That’s more than a correction, that’s a lot more than a correction but for long-term investors of bitcoin they say this is par for the course.  They say On the other hand, bitcoin had never been a larger asset than it has been.Earlier this week bitcoin lost $44 billion in market value in January. They have treated this manner as "unseen behavior of Bitcoin".
But Some Early bitcoin investor like Ran Neu Ner told CNBC: “Bitcoin goes up, bitcoin goes down, bitcoin goes up and down very quickly. If you remember last few months , Bitcoin was sitting under $8k , So nothing to worry. It was oscillated up to $20,000 in less than two weeks so this is nothing new.

So We’ve seen bitcoin go up and we’ve seen bitcoin go down. So chill and relax, This is the characteristics of the market , Only patience will win.

Hopefully you guys liked my post. I tried to encapsulate important information all together. Strong member please give MERIT to encourage. Thanks a lot.    

[deathwish]

There are couple of reason out there on why this is happening... why bitcoin is falling
1. January is a dry month.
2. FUDS about the coin and the bubble theory
3. news taken out of proportion by the media (pro bankers)
4. Market correction (i dont buy that though)
5. Futures and Whale manipulations.
and many more...

keep your cool and your calm.. dont panic and dont sell. Dont buy either if you think it is a risk. just wait and chill.

[Melvin Narag]

Maybe the demand and supply is decreasing that’s why going down in few weeks but expect it also will be soon to be increasing just be patience and relax for now and wait it until demand and supply it will be increasing

[Veterock]

Some "bad guys" make terrible news about cryptocurrencies and that why we are seeing this falling.
 Good luck and merit for everyone

[mxyzptlkof6th]

I found this recently that bitcoin is going down rapidly,
what would be the cause of this going down of BTC and how it would affect the crypto world.

You are very right. There might be some regulations that occurs on certain governments again to bring down the cryptocurrency market. Another guess of mine is because bitcoin is greatly affected by the nearly coming Chinese new year.