Why BTC is down again?

[DexterLox]

Among the initial reasons for the fall we find several reasons. The first is that Bitfinex, one of the most popular exchange portals, received a subpoena whose motive has not transcended. Related to that is Tether, the cryptocurrency that maintains parity with the dollar and that is used as an intermediate currency so as not to lose value in falls like yesterday and today. Many doubt the real background of the currency and its value to trade with the dollar.

Other news that has not helped is the prohibition to show ads of cryptocurrencies by Facebook (in addition to other elements such as bets). Many cryptocurrencies are also falling that arise as scams with Ponzi schemes, such as BitConnect or My Big Coin. South Korea recently commented that they will not prohibit the exchange of cryptocurrencies, but they will regulate it. The Minister of Finance of India announced that they are going to carry out an offensive against the illegal activities that exist around the cryptocurrencies, which some media took the opportunity to affirm that they were going to be banned in their entirety in the country.

All this comes as a result of the maturation of the cryptocurrency market, which will receive more and more news of regulations from various countries, which will not help its price rise soon.

[xbugitox]

For many reasons but one is that some countries are banning bitcoin and some are in panic selling. So yeah bitcoin will go lower pretty much soon.

[yudhistira]

In my view, this is the complex outcome of everything that happened in South Korea, India,
and the facebook news that banned all posts about the cryptocurrencies.

[Lyd]

I don't know the reason but it takes few weeks until is going to be stable again. All coins will be. Ethereum seems pretty strong

[daenarys_stormborn]

it really hurt me when I saw altcoin prices fall like this, even before I was so excited when I saw my blockfolio, but now I'm even scared when I see my blockfolio, hopefully altcoin prices will come back up again

[ukw]

BTC is quite sensitive and has a big influence from bad news.
When that happens, and many people get panic and start selling.
Now is the same, but I hope that this will change soon.

[dr.cheema]

BTC has dropped below the $8,000 mark for the first time since November, amid suggestions that bitcoin mania is now over.
The slumping price is a long way from the nearly $20,000 mark that it was trading at in its heights in December. The rapid plunge means that it is down nearly 17% over the last day and 46% in the last month.
The beginning of 2018 has seen a number of negative records for bitcoin's performance, and the latest slump marks the first time that bitcoin has fallen underneath $9,000.

[ugahenne]

Friends,

There's just too much B.S. floating around these days about trying to explain the price drop with this FUD or that FUD or whatever.

Take a step back, learn a thing or two from the stock market and the bubbles from the 80s, 90s and 00s. Very hard to predict or pinpoint specific reasons, like some of you are trying to do. Easier to look at this from a 60,000 ft level and realize a few basic things...

The sudden EXPLOSION of the price was text book bubble territory.

Now we see a gradual decline as people want to cash out until we hit a proper resistance.

But guess what: there are so many winners out there who bought at or slightly above $1K... and still plenty of early adopters ("whales") from pre-2017 who bought or mined well below $1K. All of them: big winners still! Even if prices drop to, hold your breath, $2K... you'd still have DOUBLED your money in just 1 year's time. NO OTHER INVESTMENT sees profits like this!

So think of these people cashing out now as HUGE WINNERS and the parabolic rise and subsequent gradual (albeit steep) decline makes perfect sense.

And no one can really say when it's over, as there is still so much room left to bottom out, all the way to around $1K.

Doesn't have to happen if enough people get enthusiastic again, and start buying... But remember this: there is a gigantic pool of WINNERS... BIG WINNERS... all the way down to $1K prices.

Cheers!

[Maxcrypto1990]

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.

I think this sums it up. Bigger players manipulate the market in the direction that favors them, this triggers panic selling by those that bought during rise.

Its a very familiar pattern for crypto, and one we will most likely see often in the coming months and years.

Bitcoin has a history of crashing and recovering even stronger, just hold and wait.

[Thadeous]

BTC is down again for two very obvious reasons:
1) newbies should panic and sell;
2) and whales plan to buy on dips.

[jmiro1]

I think the Chinese New Year is responsible for this down this time. We all know the price or value was down in the last two months of last year. And I believed Christmas and New Year were the reason behind it. For the same reason, I think the Chinese New Year is possibly the main reason behind this fall. We gotta say, China is a big country with a big population.

[lamadu3]

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

Look here: Facebook banned all information about Bitcoin and crypto, Instagram will also not post it. India restricted people dealing with Bitcoins, South Korea said about huge taxes for operations with this currency, China also…All these things lead to the price fall.

[Arifull Islam]

the main resonse is many country banned bitcoin in there country and some of nagitive truste in bitcoin.bitcoin price will be pump again i think ,thank you.

[Blue_oxen]

in my opinion, Bitcoin price falls down so much today because there is one news that the Indian government is considering to ban Bitcoin. I think that it is just a scam such as South Korea banning Bitcoin

[tryer12]

IMO the decline is a result of a bulk of negative press. We all know that press is what drives the speculative investors and when bad news are going on they get scared and run away. And BTC without a doubt has a BUNCH of these kind of investors going around. So this what IMO caused this decline.

[Astrilian]

A lot of good explanations here, I also think it's mainly the long sequence of bad news which pushed Bitcoin into a bear market, the emotions are currently dominated more by fear than greed. In this climate people get more nervous when new stories about restrictions or regulations get out. I see this when talking to peers, the face expressions have changed. But keep in mind that Bitcoin has corrected about 5 times by 80% in the recent years, so this seems "just" to be number 6. Also the time of the year is very susceptible for dips as institutional investor taking profits. It's a combination of all these factors I would say.

[Geemy]

The reason for the arrival of the Bitquin to this price is that most traders have bought Bitquin for quick profit and not to use, which led to the rise and then the fears of traders and then sell

[Washball]

This is the result of all the FUD spread by some people, banks and Governments, in order to bring cryptocurrencies down. Investors fear possible regulations, especially in Asia. Many people sell because they heard about Korea and China planning to regulate exchanges. That's why the price declines to $7500 today.

[BitDane]

keep in mind, that any increase in prices will find a decline in prices as well. this shows that trade is balanced. of course some users experience panic because they do not learn from history. there are some patterns if we glance backward.

[Reid]

Whales taking advantage of the recent increase and then here we are and just wait for it.
Soon it will come back to a 20k dollars price.
They will be buying again after they have already taken the profit.
Now they can double the bitcoin that they can have or maybe more.

I just have this thought. Where did they put all those money and how did they get out with a large amount. It will be interesting to know if there is someone who could reveal it.
We all know it is not that easy to get out holding that large amount.