Reasons for market drop - Panic, you lose!

[Gotumoot]

One of the two biggest reasons for the sustained dip has been happening for 4-5 months and the other is a usual yearly downtrend which has been observed in Bitcoin for years now. People didn't know until this year because, in case you didn't know, Bitcoin wasn't worth 1k until a year ago.

Reason 1 - Tether. Tether is crypto cancer. 2 billion Tether has been released in the market in just 4-5 months without fiat backing by Bitfinex. Tether is used to pump and dump all coins at once. If you notice the volume, Tether has roughly 10-15% of total market volume in any given 24 hour period which is enough to move the whole market one way and then the other. Bitfinex uses Tether across exchanges to manipulate and monopolize market opportunities.

Reason 2 - Chinese new year is on February 14. It's the largest human migration of the year and a pretty huge deal, bigger than Christmas. A big dip during this period happens on a yearly basis.

Seize your chance and buy the dip, have patience and you will be rewarded once Asian money flows back in. Asia is the biggest Bitcoin market.

I agreed though but for my theory is why the market or the reason why the market drop because of it's unstable price the demand on the market since low and since there's been many activities going on just like the christmas and new year , and then look at the price of bitcoin now. And we know that It will pump up again so just chill , and just ride it.

[dewi91]

yes I agree, a lot of people told me if this situation is a usual yearly downtrend and we just need to be patience. since I know about bitcoin almost 5 months, this is the first time I see bitcoin price goes down significantly and that's enough to make me a little panic and almost lost my patience but I try to control my emotion and keep hold my bitcoin.

[CryptoTony3]

Just hold on, stay calm, do not panic or sell. Times will change they always do, just look at the stock market for that, check this link, https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets, there are something like 40 mentioned...... and it always comes back up again, always......

[trickyriky]

that's a very true reason, because in the Chinese new year there are so many people who need fiat money and many sell their bitcoin for fiat money to meet the needs of chinese new year supplies, and that's one of the reasons for the bitcoin turmoil.

I think Chinese New Year is the last thing that can affect Bitcoin price. Mostly the news from Asia and crypto restrictions can make it falling down.

[Danilotot]

Those who are surprised by the decrease in bitcoin. dont worries because I think because of the chinise newyear that's just waiting for us after we see if the bitcoin goes down.

[HashieNewb]

One of the two biggest reasons for the sustained dip has been happening for 4-5 months and the other is a usual yearly downtrend which has been observed in Bitcoin for years now. People didn't know until this year because, in case you didn't know, Bitcoin wasn't worth 1k until a year ago.

Reason 1 - Tether. Tether is crypto cancer. 2 billion Tether has been released in the market in just 4-5 months without fiat backing by Bitfinex. Tether is used to pump and dump all coins at once. If you notice the volume, Tether has roughly 10-15% of total market volume in any given 24 hour period which is enough to move the whole market one way and then the other. Bitfinex uses Tether across exchanges to manipulate and monopolize market opportunities.

Reason 2 - Chinese new year is on February 14. It's the largest human migration of the year and a pretty huge deal, bigger than Christmas. A big dip during this period happens on a yearly basis.

Seize your chance and buy the dip, have patience and you will be rewarded once Asian money flows back in. Asia is the biggest Bitcoin market.

This could be the time where people try to see how many weak holders there are in crypto. Shaking out those people will cause the price to go up.

[gabmen]

that's a very true reason, because in the Chinese new year there are so many people who need fiat money and many sell their bitcoin for fiat money to meet the needs of chinese new year supplies, and that's one of the reasons for the bitcoin turmoil.

I think Chinese New Year is the last thing that can affect Bitcoin price. Mostly the news from Asia and crypto restrictions can make it falling down.

We'll see. Hopefully by march there'll be more uptrend than drops but i expect the market to move slower, similar to how its been moving before the december 2017 bull run. We'll get our all time alright, but those expecting it soon would probably have to wait a little longer

[blitz18]

Many reasons why market drops that almost in panic selling. When in panic totally you will lose a lot if we don't know how to manage our coins. There is a good news may happen eventually in this market.

[Sir Cross]

...
Seize your chance and buy the dip, have patience and you will be rewarded once Asian money flows back in. Asia is the biggest Bitcoin market.

Yeah... about that - China just announced that they will be blocking access to all the exchanges, local and international. So expect most of Chinese who still hold crypto to dump their holdings.

On top of that, major US banks + other (i.e. Lloyds Banking group, UK) are banning credit card crypto purchases (you can still use debit cards though), as apparently it's too risky for the customers. Weird logic, customers are free to get drunk go into massive debt by spending it all on whores & booze, but they can't buy bitcoins, as the value may drop.

We have yet to see whether these events would affect the price of bitcoin negatively. As for now, the price has been at a slow pace.

Credit card companies must have been alarmed of how bitcoin's price has been in a downward trend and went down significantly a lot as compared to it's price level last December. They're more scared of this volatility then people drowning in debt because debt is something which they recover whereas loss from bitcoin is something that they cannot since it's not within their control.

[Morenod]

  only I don;t get why it's always shown like fresh thread even it's completely not