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Author Topic: Why BTC is down again?  (Read 1069 times)
Parwesh Chaudhary
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February 02, 2018, 11:20:06 AM
 #1

Why BTC along with all major cryptocurrencis are down today? Not heard any news to reasonate with this drop.
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February 02, 2018, 11:26:09 AM
 #2

Why BTC along with all major cryptocurrencis are down today? Not heard any news to reasonate with this drop.

Now there are too many reasons and it's hard to understand myself.

the first time this began, it was attributed to the korean FUD but they came out to say that they have no intent to ban cryptocurrency.

second was about the court case and that also turn out to be not the cause.

now the current news i heard was that, the fall is from the chinese holidays.

so if this is true, then we must expect growth after 14th Feb.

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February 02, 2018, 11:26:55 AM
 #3

manipulation + panic + FUD

and there are lots of newbies who wanted to get rich over night so they FOMO bought. now they are panic selling.

Why BTC along with all major cryptocurrencis are down today? Not heard any news to reasonate with this drop.

it is not BTC along others. it is BTC dropping then altcoins following it down with a nosedive.

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February 02, 2018, 11:28:55 AM
 #4

Bitcoin is still facing the correction process which is a result of price rally that took place in the last quarter of the last year. Traders/investors (especially big whales) prefer entry or exit through systematic investment plan so if they are expecting price to fall down in the coming month then they sell their some holdings daily instead of doing it in one shot.

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February 02, 2018, 11:32:14 AM
 #5

crypto are really sensible to manipulation, it takes just some VIP who speak or write about BTC and within a day you can see the result in the market price.
Investors, and i men the ones not educated, are following the flow doesn't know how cryptos works.
These investors are dealing with crypto in the same way as stock market investment but this is not the right way to do for us, in the last couple of days there was a red sea of crypto prices dropping and this is due to that.

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February 02, 2018, 11:35:06 AM
 #6

Why BTC along with all major cryptocurrencis are down today? Not heard any news to reasonate with this drop.

Criptocurrency drop is not finished yet. I suppose big investors push coins prices down using negatives news. Probably it will be pump soon.

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February 02, 2018, 11:35:11 AM
 #7

Basically because of this:

Quote
India's Finance Minister Arun Jaitley said the country wants to "eliminate" the use of digital currencies in criminal activities, signaling tighter regulation in the country.
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February 02, 2018, 11:39:05 AM
 #8

Now i think it's mostly panic that is the general cause of the drop.

When bitcoin spiked last year it was because of many "less knowledgeable people" where entering the market, these don't have the experience and isn't used to the policy that things that goes up usually drops down a little.

These people now see that there savings is about to disappear so they try to withdraw before everything is gone..

But what they should have known is that it isn't a loss before you sell with a loss.

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February 02, 2018, 11:45:35 AM
 #9

what puzzle me is: is it really possible to ban/shut down crypto transaction? no, not possible to shut down 100% of it.
Consider crypto same as torrent, warez, crack or even porn.. there is no way these protocols can be banned worldwide, if everyone would keep this in mind there wont be any panic selling because of these news.
I don't know, it's just me or there's anyone who think the same? i'm more scared about regulation and taxation by the government than ban news.
Some countries already understood that is not possible to stop this world and they are trying to regulate it (which can be a good point of crypto).

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February 02, 2018, 11:47:42 AM
 #10

Basically because of this:

Quote
India's Finance Minister Arun Jaitley said the country wants to "eliminate" the use of digital currencies in criminal activities, signaling tighter regulation in the country.
Hmmm. So thats the reason why bitcoin is getting down. There are already some people taking advantage in bitcoin and using it to illegal activities. Just as I thought this was already happening.

 But can I ask what is the effect of "eliminating the use of digital currencies in criminal activities, signaling tighter regulation in the country." To bitcoin to make it go down? Is this has something to do with it?
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February 02, 2018, 12:00:04 PM
 #11

Bitcoin is down because practices by traders and exchanges, which would be illegal if Bitcoin and the Crypto market generally was regulated, decided to take something that is novel, but basically intrinsically worthless (that's Bitcoin BTW), and allowed them to create a massive bubble and draw in a whole bunch of 'greater fools' to move the price up to 20k, and since they all have been taking the profits, causing the price to fall, leaving all the 'greater fools' holding the baby, with no comeback however much money you will all lose.  Simples! 
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February 02, 2018, 12:00:17 PM
 #12

Bitcoin is still facing the correction process which is a result of price rally that took place in the last quarter of the last year. Traders/investors (especially big whales) prefer entry or exit through systematic investment plan so if they are expecting price to fall down in the coming month then they sell their some holdings daily instead of doing it in one shot.
Bitcoin is a system provided investment, major slides from time to time is really expected. But there is no reason to panic if bitcoin is suffering huge value drop, it happened before, and bitcoin still managed to retain its strength in the market after correction. This current drop is expected since we are still at the beginning of the year, major adjustment is being done which probably the cause of this value drop.


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February 02, 2018, 12:07:25 PM
 #13

It was around $11k and was not going up (after decreasing from $18k), so people started panicking and selling, which might have caused the drop. I also think, that the manipulation by the whales might have also impacted the price.  Undecided

And the panic goes on, so don't be surprised if gets even lower.
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February 02, 2018, 12:09:04 PM
 #14

Bitcoin is still facing the correction process which is a result of price rally that took place in the last quarter of the last year. Traders/investors (especially big whales) prefer entry or exit through systematic investment plan so if they are expecting price to fall down in the coming month then they sell their some holdings daily instead of doing it in one shot.
Bitcoin is a system provided investment, major slides from time to time is really expected. But there is no reason to panic if bitcoin is suffering huge value drop, it happened before, and bitcoin still managed to retain its strength in the market after correction. This current drop is expected since we are still at the beginning of the year, major adjustment is being done which probably the cause of this value drop.

That's call market circulation always sideways was not so good too, always up? that was not to much good (maybe it is good for gaining more money when we have BTC at lower price that time).  And down? that was okay. That will make market learn about resistance. About our position, just like old man say "we never lose when we not sell our BTC" But honestly only 1 of 1000 maybe will keep his or him BTC and never sold. And the rest, is the one whose always complaining about the price "why up?" "why down?".  That because they buy with higher price than current and they sell with lower price than today.

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February 02, 2018, 12:12:21 PM
 #15

Although almost all the coins have decreased, we should not panic, learn first what is the cause of the decline, if we already know and can draw conclusions for the future then we can take the decision to sell our coins or not

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February 02, 2018, 12:14:51 PM
 #16

Basically because of this:

Quote
India's Finance Minister Arun Jaitley said the country wants to "eliminate" the use of digital currencies in criminal activities, signaling tighter regulation in the country.

I think the plans of India to regulate digital currencies are not having
an impact on the BTC price at all. Korea and China were different, because
both were big markets with several big exchanges and a lot of trading volume.

On the other hand there is not a single Bitcoin exchange in India that
has a volume that would show up in the top exchanges at Coinmarketcap.

The current price is simply caused by money moving out of the market after the
2017 bull run. The introduction of Bitcoin futures was the top for now and
now we will face a prolonged bear market.
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February 02, 2018, 12:18:12 PM
 #17

Why BTC along with all major cryptocurrencis are down today? Not heard any news to reasonate with this drop.
Dont worry it is normal that bitcoin is starting to fall down, and I think there is no person that can determine that what will happen to bitcoin so there is no news that shows about this topic because bitcoin is a very complex thing and cant determine what will be its next price.

c0inHnt3r
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February 02, 2018, 12:26:29 PM
 #18

With BTC and most other TOP 100 coins on a downward  trend DigixDAO  is up 44%. BTC is being pushed down the India Finance Minister  stating they want to all out ban it, the bitconnect lawsuit, the coinmarketcap korea exchange pull, and general fear. I anticipate the fall continuing to mid to late march before another surge.
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February 02, 2018, 12:28:44 PM
 #19

Why do sheep need buttcoin so much? What is so precious about it?
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February 02, 2018, 12:33:57 PM
 #20

Could it be that the bubble is deflating? Or bursting? The price is going down fast now, losing $1,000 every day at the moment.
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