Bitcoin prices dropped due to bad news

[nhieutam2008]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

[akkocoin]

Do not need to be sad, it's just getting Bitcoin back to health, bitcoin's skyrocketing health before it's predicted that there will be a lot of people joining the world in 2018, so we'll be looking forward to the 2018 bitcoin.

[TheySeeMeHodlingTheyHatin]

no ! bitcoin drops because people dont believe in the tech ! they just wanna make a quick buck, so they sell when they think its not profitable

these people will pay the price in the future

[Eterbank]

no ! bitcoin drops because people dont believe in the tech ! they just wanna make a quick buck, so they sell when they think its not profitable

these people will pay the price in the future

With this i can fully agree. People are mainly buying bitcoins and crypto overall because they want to earn money, more like investment rather then using it as currency. To become independent from banks. Sad.

[mrsamuelmills83]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

Don't you worry, don't you worry child. The heavens got a plan for you. Don't you worry, don't you worry now. Yeeah.

Calvin Harris - Don't you worry child

[smyslov]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

It is because Bitcoin price can be manipulated and it is very volatile but we should not consider Bitcoin as dead the price is not dropping dramatically, it is very slow but also gaining slow just one good news and bitcoin is back on the right track again.

[Kemarit]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

There's a lot of government going at crypto right now. Its a fact. From Asia to Europe. And this is a big hurdle that we all need to overcome. We are down but not out yet. But I advise you to look at crypto investment for long term. As much as everyone wants to see it hitting $20,000-$30,000 today, it will not always be the case. But if you recall just a few months back we are just about in the same range as today but then bitcoin shoots up to almost $20,000. So don't lose hope, bitcoin is very resilient from this kind of market correction, it keeps bouncing back and hitting all time highs afterwards.

[renes]

I don't care about what governments say, it is a correction which need to be happen to me. I don't care I am always winner at both direction.

[darkwingduck34]

Actually we all give support to Bitcoin to change something on traditional economics. We should not care speculations. 

[Ilegendph]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value.  

It is because Bitcoin price can be manipulated and it is very volatile but we should not consider Bitcoin as dead the price is not dropping dramatically, it is very slow but also gaining slow just one good news and bitcoin is back on the right track again.

For me what happened is not manipulation but rather influence. Government cannot actually manipulate bitcoin since no one is owning it, what they do is that they influence their people  or simply scare them to stay away from cryptocurrency specially bitcoin. I believe in the near future, government will stop from doing this if they see how they can help their people to make a secure investment with cryptocurrencies.

[syaripudin]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

it is true there is some news about bitcoin which is about banning of bitcoin this is causing the reduction of investors out of bitcoin. but to date I'm still optimistic that bitcoin will again have an inflated price. it's just a matter of waiting time until bitcoin again has a very high value.

[Kambal2000]

Well, a lot of bad news has come this year 2018 but that doesn't mean that it is already the end  of bitcoin life as a matter of fact we are experiencing this just a test and it is just a normal behavior of one investment, so for me at some point media has a big impact in the price but would still stick to bitcoin no matter what.

[evilgrin]

Price going down, protocol improving constantly... who cares about the market price.

[doomistake]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

The Government seems jealous to bitcoin, being itself decentralized yet so expensive makes the Government to envy it and doing things that they think could destroy bitcoin slowly and so on(though there are some countries exception here). China is one of the countries showing envy to bitcoin, they banned ICO's and their local exchangers and that caused bitcoin's price to crashed.

We don't know when will be the bitcoin's price is going to be stable again, for now, we should just hold our bitcoin, have patience on waiting until it skyrocket again to not waste profits.

[TTITA]

no ! bitcoin drops because people dont believe in the tech ! they just wanna make a quick buck, so they sell when they think its not profitable

these people will pay the price in the future

You make good point. Since many countries have made regulation about restricted the using of bitcoin as digital payments transaction. So bitcoin has stuck, it's now difficult to find big retailer or companies that want to using it as payment method. They will certainly start thinking not to against this regulation. While this crypto technology is raised as an idea for online payment system renewal without a third party as its organizers or involving Bank.

The effect was people nowadays starting buys Bitcoin for a trading asset only, nothing more interest in long hold investment. They are looking for fast gain profit from volatile market then sell it after. This is what makes things going worse. Bitcoin is no longer seen as the currency of the future, but rather a trading tool like gold, forex, commodities, etc.

[ogini]

Another effect of the drop is due to the increase in price ,new investors could not meet up with the price so they have to go for other Cryptocurrency an  history also shows that at anytime Bitcoin crash there is also a big increase in price.

[mrsamuelmills83]

expect a nice pump coming in a few weeks. then everything will reach new all time highs! believe me guys , the history repeats itself

[Brito]

There's nothing to worry about.
The story is repeated, and before that there has been such a drop of 60% but then follows an increase.
This is normal in the world of Bitcoin. 

[jomz312]

The reasons why bitcoin prices dropped is....what the title said is, The Bad news..
Here is the bad news.

1.) Facebook ads ban.

2.) India's cryptocurrencies crackdown.

3.)bitfinex and tether concerns.

4.)crypto exchanges hack.

5.)Inherent volatility

I think that is the reasons why  bitcoin or altcoin price dropped.

[kier010]

Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around  8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value. 

compared to the peak set in 2016 bitcoin have gain more. don't just focus on the present you have to look back at the past because it will change the way your thinking. many have buy bitcoin during in it highest hoping it will give quick profit now that it is dumping they also start selling it. some big group/holder can manipulate price to their own will and maybe they are starting a big plan this year.