Reason for bitcon fall

[Nisharawal]

Despite Good news coming from bitcon this days, the fall still continue..... Can one help identify the reason for the fall?

I don't think the news will affect the market price to the big extent because all the news and announcements are already discounted in the financial markets like Crypto market, Stockmarket and forex market. Just like the good news coming on the weak market doesn't help it to move upside same way the bad news cannot releasing in the good trending market cannot make it helps to move down. It all depends on the technical demand and supply in the market and it also depends on the technical trend. Till now the bitcoin market was moving up and so because of that reason it was expected to see bitcoin to fall no matter whether the news is positive or negative.

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[udivkx]

We have observed a very high growth until January, and as you know, strong growth leads to a strong fall. Ordinary market "swings".

[BrewMaster]

the fall has been over for a couple of days now, we are now in a consolidation phase most likely and all the small rises and falls that you see are normal market fluctuations that has nothing to worry about. as long as bitcoin stays between $9500 and $7500 nothing will change. if it breaks $9.5k with good strength it will rise up to break new records soon.

so keep your eyes open for these targets and the next ones that come after them.

[maltize]

One of the reasons for the low price now - Chinese new year. People are selling bitcoin and crypto-currency and withdraw in Fiat to buy presents for their loved ones, and unfortunately, it also affects the overall price

[Xester]

Because almost everyone, especially those new into bitcoin, investing with it, panickly sold their bitcoins.  And it does not stop, many are still selling their bitcoins to cut their losses. This is all because of the bad news that had happened.  I will just hold my bitcoin as I know that it will goes up still.

[bigbosma]

Bitcoin can't grow without falling, it needs to fall low enough to get an incentive for the next growth leap.

[joebrook]

Despite Good news coming from bitcon this days, the fall still continue..... Can one help identify the reason for the fall?

If we compare, then there are more negative news around the bitcoins than positive which affected the price and created uncertainty in the market . Below are few examples of negative news for your reference.

Recently china announced to complete crackdown on crypto exchanges;

https://technode.com/2018/02/05/china-ban-block-cryptocurrency-trading-at-home-abroad/

then they announced that banks should stop financing the crypto projects.

http://www.scmp.com/business/banking-finance/article/2129645/pboc-orders-banks-halt-banking-services-cryptocurrency

India announced to curb the illegal use of cryptocurrencies.

https://www.theregister.co.uk/2018/02/02/india_to_ban_cryptocurrency/

France and germany are also demanding to clampdown the cryptos.

http://www.telegraph.co.uk/technology/2018/02/09/france-germany-demand-bitcoin-clampdown/

Considering that all these led to the price dropping sharply, I really think that we should be a part to recovery because aside these, there hasn't been any serious negative news pertaining to bitcoins and its rising but slowly.

[SchlaWinner]

compare to LY, first months of the year are usually a struggle, the bulls will join the arena in a few months max. again, no worries!

[mezzaluna]

There are many speculations why there was a decline in price of cryptocurrencies. If we take a look in the past and see the price in the last part of every year, the prices are still going up but when a new year enters, the price starts to decline. This maybe because of the panic selling of Hodlers that thinks about the fall of cryptocurrency and this may result in the decline of prices. They may also want room to grow so they start selling alternate coins or bitcoin in particular to gain other cryptocurrency and invest in that platform.

[Harlot]

the fall has been over for a couple of days now, we are now in a consolidation phase most likely and all the small rises and falls that you see are normal market fluctuations that has nothing to worry about. as long as bitcoin stays between $9500 and $7500 nothing will change. if it breaks $9.5k with good strength it will rise up to break new records soon.

so keep your eyes open for these targets and the next ones that come after them.

That is a very big range to consider it as a consolidation stage as normally it would just be at 10% change max. With that range we could still consider Bitcoin fighting both up trend and down trend, but clearly looking at it in the 4 hourly chart the down trend is still intact and there is no showing that it will break it yet. Also the 7,500$ level is breakable and I think 5,900$ is not the bottom of Bitcoin yet. It is still a long way to go for Bitcoin and my advice is to endure and take advantage of it.

[tiktak89]

Bitcoin is very prone to news, especially from the East (China). It always has an impact on the schedule of its rates, as the rise and fall. I'm used to it.

[TheUnknownMan]

The reason can be Chinese New Year too.But the reason can also be that the number of search of Bitcoin.According to some sources, the number of search of Bitcoin in Google has decreased and it affected Bitcoin in a bad way.

[Farma]

as far as I know, facebook does not allow ads containing cryptocurrency, as very many take advantage of such moments to raise funds, and deceive them. well, so, for that reason, bitcoin prices go down. even altcoin prices are also affected because of it.

[Feuerbach]

Despite Good news coming from bitcon this days, the fall still continue..... Can one help identify the reason for the fall?

The news is also a lot of negativity. Also, due to the upcoming Chinese New Year, there is an outflow of funds from the crypto currency