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achsan fauzy (OP)
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February 04, 2018, 05:50:48 PM |
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a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.
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Chris314
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February 04, 2018, 05:52:19 PM |
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Other countries, like India, recently said that they didn't recognise cryptocurrencies as currencies and thus will prevent people from using them.
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coolcoinz
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February 04, 2018, 05:59:26 PM |
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Other countries, like India, recently said that they didn't recognise cryptocurrencies as currencies and thus will prevent people from using them.
They are only concerned about anonymous trading. If you can anonymously exchange virtual tokens for government issued fiat money it's very easy to launder. Since there's a lot of cryptocurrency scams the scammers could anonymously trade stolen coins for cash and get away with it, especially if the stolen token is untraceable like Monero. I read today about a virus that just recently mined monero on infected servers. It's today's news. We can't expect the authorities to watch it all unfold and do nothing. |
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zigfridkr
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February 04, 2018, 06:48:15 PM |
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a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.
This is because the rumors about it happening are still there. Same situation with Indian government, they never said that they will ban Bitcoins but it was reported in media. |
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pitiflin
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February 04, 2018, 06:52:02 PM |
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There is no good news. Only FUDs. Markets don't have anything to relate to except for that if FUDs.
Like India banning crypto while the real story is they don't accept it to be a legal tender.
South Korea regulating exchanges, but still a million people have given their kyc it seems.
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Fondago
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February 04, 2018, 07:06:05 PM |
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Another not very good news today is the leading American credit card issuers to work with cryptocurrency assets against the background of their decline in their prices. I dont think that the BTC rate depends strongly on this news or South Korea, I think the impact on the rate of BTC comes from China.
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Snaic
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February 04, 2018, 07:06:40 PM |
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Bitcoin falls not only because of bad news regarding the crypto currency from South Korea. Contradictory information about the circulation of crypto currency comes from India and China. But most importantly, in bitcoin, its shortcomings are still not eliminated - slowness and hanging of transactions and high commission fees. Because of this, bitcoin has already significantly lost in its popularity, as well as in the demand for it. Potential investors invest their funds more in ethereum and other altkoins precisely because of the shortcomings of bitcoin.
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Clark13
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February 04, 2018, 07:14:53 PM |
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a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.
South Korea is not the only country in the world. There are so many countries that dislike the system of Bitcoin or Cryptocurrencies. The governments are scared of what can happen once they implement the usage of bitcoin in their territory. This is the reason why bitcoin is still going down in terms of its price but it can manage to go up again anytime soon. It is volatile, and if South Korea does let their country to use it, then other will do soon. |
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mahibul49
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February 04, 2018, 07:24:48 PM |
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every new year bitcoin price dump.see the hiostory but end of the year bitcoin will touch 50k  so no need to be worried. |
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KellyCoin
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February 04, 2018, 07:28:50 PM |
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There are several factors which affects the price of bitcoin and cryptocurrencies including news, proposed regulation, market manipulation, speculation etc. At the moment they are all heavily affecting the markets in a negative way just as they were affecting the markets in a positive way a few months ago. This has happened several times and bitcoin has always bounced back. We are all expecting the same to happen this time around the question is just when.
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StarLawl
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February 04, 2018, 07:42:32 PM |
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Everyone has given good reasoning why the price is still falling. But what KellyCoin say that there is a bounce back expected is also quite true. We are entering into the Lower Lows from the last dip to below 8k - But we are all expecting the lower lows, so people sell. Weak hands are flushed out and those with balls of steel buy in.
Or those expecting it to bounce now, after the lower lows. Im trying not to look at the portfolio, because I know this is temporary and the market, as a whole, will bounce back.
Those selling, those are the ones at risk, as they might be hit by FOMO if they do not enter prior to the bounce, because when Bitcoin goes up, it goes fast.
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lossol
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February 04, 2018, 08:01:57 PM |
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This time maybe different. At all previous times bitcoin was below $1000. Within the last year bitcoin has gone as high as $20k. It's around 8k now which is still up 8x so it's really not down relative to 1 year ago. Nothing says it needs to go higher. You are deluding yourself if you think it's going to go up 20x like last year.
More people interested in bitcoin just means more regulation. More regulation just means less volatility for bitcoin. Less volatility means no more huge price swings to the upside.
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marjil
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February 04, 2018, 08:07:21 PM |
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This time maybe different. At all previous times bitcoin was below $1000. Within the last year bitcoin has gone as high as $20k. It's around 8k now which is still up 8x so it's really not down relative to 1 year ago. Nothing says it needs to go higher. You are deluding yourself if you think it's going to go up 20x like last year.
More people interested in bitcoin just means more regulation. More regulation just means less volatility for bitcoin. Less volatility means no more huge price swings to the upside.
I agree. Compared to a year ago bitcoin does actually seem very expensive. It's still an opportunity to take profits for those who bought before last October. Whether this opportunity will still exist in coming weeks will have to be seen. |
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larchonte
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February 04, 2018, 09:36:33 PM |
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Hope he will stabilize soon
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pixie85
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February 04, 2018, 10:22:04 PM |
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When a new investor gets burned and loses money by selling at a dip he tends to get salty. He's angry at the whole world: his friends for not stopping him, bitcointalk people for saying it will go to the moon, trolls for trolling, fudders for fudding, whales for dumping... Last thing he'll think about is to buy back. He'll be afraid to lose more. That's why there's not a lot of buyers. In time they will come.
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Rinsend
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AZBI NETWORK - Multichain system
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February 04, 2018, 10:27:05 PM |
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there are still many reasons why bitcoin prices fall,
other than korean north korean issues that prohibit the use of bitcoin.
and in fact although some countries are banning on bitcoins, bitcoins can still grow.
with the note that bitcoin demand should continue to increase.
because that's what can raise the price of bitcoin
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SaShiRaJaVu
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February 04, 2018, 11:30:54 PM |
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a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.
The major reason for todays downfall is not because of the FUD news around the world but some of the major banks stopped the use of credit cards to purchase crypto currencies in fear of heavy losses as people are investing heavily maxing out their cards and so is the reason the market is going down after news came out about the ban imposed by the banks. |
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tippytoes
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February 04, 2018, 11:46:07 PM |
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Reading some of the opinions here to check what others are saying regarding the decline of bitcoin price. When a new investor gets burned and loses money by selling at a dip he tends to get salty. He's angry at the whole world: his friends for not stopping him, bitcointalk people for saying it will go to the moon, trolls for trolling, fudders for fudding, whales for dumping... Last thing he'll think about is to buy back. He'll be afraid to lose more. That's why there's not a lot of buyers. In time they will come.
That's what trading is. Strong hands are few in that area. |
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Tux99
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February 04, 2018, 11:49:16 PM |
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a few weeks ago, the outstanding issues that the bitcoin price falls due to south korea plans to ban bitcoin. but until now, after the south Korean government announced officially does not prohibit bitcoin, the bitcoin price is still down.
Cryptocurrency price run not depend on true or fake news because the market will drop cause of panic sell although the news is fake like south korean issue. So this FUD news sometime being used by whales to make the price drop and take the advantage from it. |
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Dexion
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February 05, 2018, 01:46:22 AM |
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yes, the bitcoin factor goes down not just because south korea ban and fight bitcoin, so although today korea does not ban bitcoin, its price is still below. meaning that South Korea's attitude to bitcoin is only a small part of the reason.
there are many more factors that make bitcoin prices fall, like increasing selling in the end of year 2017. and I think this is common every year in January, February, but I see this year going on for a long time.
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