What or who is still holding btc down? and why?

[cryptohunter]

with all the fud and bullshit cleared and the main govs regulating ready for mainstream taxation and adoption what is still holding btc down at these levels?

[Mometaskers]

The rebound to $8000 is a good enough increase (about 50%). I can't say much about what's "holding it down" but it seems that the sudden increase to $20k last December is an aberration rather the trend and that the price just went back down and only starting to pick up again. It could also be that people got spooked by the drop and just waiting to see if the price would recover to an acceptable range before buying again.

[Washball]

The bulls are not out of the woods yet, as they put it. There's a resistance at 9K that seems hard to overcome. Stock exchanges are also having hard times right now and some financial experts are foreseeing a new crisis. Maybe that's what's holding bitcoin down.

[jmlona]

Supply and demand, there is still a good balance at this price level, that either means there is still a large willingness to sell or there is not nearly enough willingness to buy.

If we look at each in turn,willingness to sell would likely be people who are still not confident in the market recovering further or mostly those that bought the low of around 6k and are willing to take their profits now.

Lack of willingness to buy comes down to confidence, many will be afraid following the recent fall in price. Furthermore it's conceivable that many feel the 20k we saw in December was just a freak occurrence and the price is more suited to be around the current level.

[NeuroticFish]

with all the fud and bullshit cleared and the main govs regulating ready for mainstream taxation and adoption what is still holding btc down at these levels?

The Chinese New Year makes some speculators/buyers take a break (but also some sellers - mining farms are in the same situation).
I don't know when the US tax period ends, afaik is in February and afaik it's one of the periods many still transfer their gains into fiat.

The quantity of FUD have decreased indeed by a great deal, I expect any day now the spawns start singing around the "BUY BUY BUY" song for a good while.

[angaper]

I am still convinced that holding bitcoins is the best option in this crypto market. After seeing that, regardless of the good features and great growth prospects that may have different altcoins, all of them are following in parallel the behavior of bitcoin. Therefore I do not see a mechanism that encourages diversification in a broad portfolio of altcoins, so if investing in cryptos is a long-term profitable option, it is best to do it in bitcoin, hold those that already we have and even increase our bitcoin holdings.

[Olalomi]

There are so many market forces hodling down the price of bitcoin I think we should  wait till after the chinese festivals and see what is going to happen to the price, the $9K resistances needs a stronger fud to break it up the  price had ranged between $8k to $8k5 for so long but overall the market has a bullish sentiment.

[troglobait]

need good news, while something is not very (

[jpespa]

Bitcoin has gone down because of forks and corrections and people who panicked so much and sold their bitcoins. I don't have much idea about how forks or corrections occur though. With bitcoin being banned in many countries, i think demand is not enough because it has been restricted in many countries.

[Sumo]

with all the fud and bullshit cleared and the main govs regulating ready for mainstream taxation and adoption what is still holding btc down at these levels?

Governments always release bad news when the market falls, but that doesn't mean you have to trust them. News and media was always possible to buy.

[allthebitandbobs]

chinese new year.When that is over all then Chinese will be pumping the markets again

[cryptohunter]

Still for sure I would not sell at these levels and I suspect most of the large holders (not that i am a large holder at all) would not consider it either.

I see nothing but mostly very positive news lately.  I mean news not made up FUD.

[Carmen01]

The price of btc are depend on users,traders and investor so the price go low and go high.Think if the users buy and sell their btc or new user buy btc only then the price go down or high by selling it in low or in high so that's why it so volatile,I think also if the investor do some business here they buy a lot of btc then just hold it so the price go low by that because btc don't move but if they sell it of course the price will go high because they sell it and it's move.

[joeydangerous]

with all the fud and bullshit cleared and the main govs regulating ready for mainstream taxation and adoption what is still holding btc down at these levels?

I didn't sell all of my Bitcoins during the price slump. I would just purchase more if I could get more fiat.