Bitcoin prices dropped due to bad news

[jonaire99]

Many bitcoin holders are easily overcomes by FUD and other bad news causing to sell their bitcoins because of fear. Selling will eventually affects bitcoin price and result to correction or dip. Another cause of bitcoin price drop is the dumpers and this usually lead by whale who want to control the market. The high volatility of the cryptocurrency makes them vulnerable to price swing.

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[NBoskovski]

I will mention here also Chinese new year (February 16) people are withdrawing money, same happened with the prices (falling down) before Christmas.

[batang_bitcoin]

It went down to $7,344 so this is the result of the different agencies and government tightening out their own battle against bitcoin and other cryptocurrencies as well.

I will mention here also Chinese new year (February 16) people are withdrawing money, same happened with the prices (falling down) before Christmas.

With these events there are too many beliefs that they need to follow and do something because of their wish to be prosperous so this Chinese new year is still an accountable reason for this down.

[alyssa85]

The stock market is falling as well. The FT100 has hit a 2 month low. The Dow is down again. See

http://www.cityam.com/280052/ftse-100-falls-steeply-global-stock-sell-off-continues

So it's not just bitcoin. What we are seeing here is the start of a secular bear market when all assets fall and money goes into cash. This usually happens when investors suspect there is a recession coming in 9 to 12 months.

[trickyriky]

I don't think it's only because of the bad news ,I believe the growth of other cryptos effects bitcoin. The high price of bitcoin and the good performance of some crypto currencies like ethereum in small price compared to bitcoin make investors to choose those cryptos to invest.

Bad news sure had the negative effect, but there is another reason of this fall I guess. Huge players on the market want to get BTC for less.

[CryptoTony3]

I don't think it's only because of the bad news ,I believe the growth of other cryptos effects bitcoin. The high price of bitcoin and the good performance of some crypto currencies like ethereum in small price compared to bitcoin make investors to choose those cryptos to invest.

Bad news sure had the negative effect, but there is another reason of this fall I guess. Huge players on the market want to get BTC for less.

I think this is a very good point..... Had not looked at it this way before.....

[Lwtelencio]

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 worry about that news my friend its normal, yes we know that for now btc is dropped for series of week and not every time bitcoin has a higher value but  remember the word volatile for now its fall down but wee don't know on this following week day its value will rise again be patient and optimistic this is just a game.

[Rana590]

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.

I think also that. Bitcoin is on now correction. Governments can say anything on their on way but Bitcoin will survive it is sure. All the crypto currency are depending on bitcoin. So we shouldn't be worried to hear any kind of bad news.