Why the cryptocurrency prices went down suddenly

[rickadone]

Binance incident was a hack,it isnt not just a rumor they have disabled the widrawals luckily that said their ass for their good reputation.Binance wont admit the it but they have already called those guys as hackers so it means binance was hacked,anyways phishing attacks are generally considered as a way of hacking stealing APIs from bots are bullshit,in the first place binance shoudlnt be allowing those bots in their system,it is their fault period.

I would not call that a hack. Get facts straight! Binance itself was not hacked, some accounts were and the hackers were only able to get into the account after a phishing incident that happened in the past which made the hackers generate APIs for these accounts and chose a good time to act. At the end, binance was able to get this and stop it without anyone losing anything, except that some accounts got their assets exchanged which they will have to exchange back themselves.

[zhangcaisbsbn55]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

I think the banning of some countries may influence the orice of the coins. I think we should wait patiently for the bull market to come.

[Jarx]

I think the banning of some countries may influence the orice of the coins. I think we should wait patiently for the bull market to come.

Yes it is, the market is strictly tied with a world news. Also high volatility of course , that's natural for that market. Just give it a time, relax and wait. Soon the price going to change 100%

[goodrus69]

The market can not continually grow and be in a bullish trend. The market needs a correction, which happens now.

[sycaburatan]

Because that is how the market works,and it shouldnt be a problem when you are not so new in this thimg because you will get a long with this everytime,make it a daily routine so that you wont be  suprosed whatever happens to the market.Learn how the market works and im sure you can easily adopt to any situation in the market.

[Valuyet]

Prices goes down suddenly and abruptly due to FOMOs and FUDs, people think right then when they heard negative news about Bitcoin and Crypto markets.
They will then sell their Crypto assets out of panic so then if there's high volume of Bitcoin sell then that's the reason why Bitcoin will drop down and almost every altcoins will dive suddenly.

[Valuyet]

The market can not continually grow and be in a bullish trend. The market needs a correction, which happens now.

One thing that Bitcoin don't hike up due to some FUD articles that stating Bitcoin would go down up to as low as $6,000 so when we hear about it, we couldn't throw our investment into Bitcoin as most people do wait for it until it will soon go down as predicted.
That kind of FUDs are the worst and it causes crypto market to lay to it's lowest point that shouldn't be happening and at this moment it supposed to be worth 1 Trillion at least but the reality is opposite.

[captin crunch]

Price always goes up or down it is normal for crypto.

[Budugbass]

Price always goes up or down it is normal for crypto.

It's perfectly normal, and however it's greatly influenced by the many news that we do not knowing from time to time, but in essence we really need can be able to deal with these characteristic and keep trying to reviewing the price movements acompanied by many things that can influenced it. I think the point is we really can adapting with it and being optimistic.

[hetecon]

It is difficult to say exactly why the local market correction takes place. In early March, there were statements from the Korean and Chinese governments about restricting certain exchanges in their work, which are quite popular. Some people began to panic and sell their coins.

[cryptotycoon33]

I think the issue of news sentiment affecting market movement is always there.  Reactions to this sentiments makes the market. If the holders panicked and react in that direction this will trigger selling  pressure on the market and the market becomes bearish but if the holder react positively and hold to their coins there will  be no pressure on the market the price will remain stable.

 Sir, I completely agree with your economic opinion on the above issue and also believe that news is fundamental to the directional movement of crypto prices. Please holders should stop to panic when ever the market becomes bearish. Thanks

[pokeronlinestatus]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

But the worst thing is that all these news come out after the fall, I think that serious players just speculate on this and all these news have almost no effect on situation in market

Exactly, the truth is that those whales always use the news to drive down the prices and I am not surprised as it happens a lot and it will always affect the weak hands at any point in time. Really, the market was bound to have a little correction after testing the $12k region and the news was only used to drive it down the more, but at the end of the day, I still expect that the market will bounce back anyway.

[d1ceplayer]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

Well, it is not the first time FUD is going to always be fast in being spread than good news. First and foremost, the binance thing was a rumor and it was not hacked, and only those who ended up getting their account vulnerable as a result of phishing attack in the past ended up being the victim but nothing was lost. The SEC and the Japan stuff though is understandable, but it will pass. We always have that crackdown once in a while.

[dizzy1996]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

Good afternoon, I answer your question, see that crypto currencies have quickly entered our society, and since any currency requires legislative consolidation, then crypto-currencies must also be controlled by laws, but many countries are afraid of these currencies and therefore do not recognize, and therefore the price for tokens is low

[X-ray]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

Well, it is not the first time FUD is going to always be fast in being spread than good news. First and foremost, the binance thing was a rumor and it was not hacked, and only those who ended up getting their account vulnerable as a result of phishing attack in the past ended up being the victim but nothing was lost. The SEC and the Japan stuff though is understandable, but it will pass. We always have that crackdown once in a while.

Binance never gets any hacked, but it's just a human error because the majority of the people are getting hacked try to trade through amount through the automated trading software which used binance API and they can do trade directly to the binance exchange site and i think that has been exploited.
But mtgox becomes a big reason why crypto goes down too much.

[ekn222]

The biggest reason is the news about Bitcoin market falling due to the dumping of Mt. Gox coins on the exchanges. The trustee handling the Mt. Gox coins has been dumping a large quantity of Bitcoins on exchanges which has been causing the price to go down wards. And since alts are tied with bitcoin, so when bitcoins dumps alts dump.

this is the real reason

[sourish]

With crypto still in infancy, and the pervasive uncertainty around it, every outlying factor seems to be the trigger affecting the market, creating a resultant ripple effect, oblivious to systemic graphs and calculations.

[Anzal RK]

I don't really know about the price of crypto price.
But i little know about issue of cryptocurrency.
Like, google block crypto ads.
China and Korean block Bitcoin and other.
I think thats why Price is so low and down again.

[Marcsymon]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

Because there are lot of happening in the world that not favors the Bitcoin like US ICO hearing, MT. Gox sell of, China ban, Google ban, FB ban and many negative media coverage that would create FUD to the investors. If these will continue, we might experience an ultimate dip once again.

[lionheart89]

As you are all aware, this week the market experience a fall of around 10% in prices for major cryptocurrencies. The reason for this dramatic drop in prices are multiple, but it is my hope to enlist them below and start a discussion.

It is said that the US Securities and Exchange Commission (SEC)  announcement about ICOs platforms and the possibility of forcing them to register is one factor to take into consideration. Second, Japan’s FSA recently suspended two exchanges and penalized another four, which caused a bit of panic among the [Suspicious link removed]munity. Last but not least, rumors started running across Redditt that Binance was being hacked. All these situations caused the cryptocurrency prices to go down by 5-15% on average.

To explain this a bit more, take a look at this video that easily explains what exactly happened this week https://cryptocoin.news/news/altcoins-this-week-why-cryptocurrency-prices-went-down-blockchain-legislation-in-russia-and-much-more-8714/

Feel free to comment as well

I think the cause of the falling cryptocurrency price is because the bitcoin price falls, bitcoin is the base of altcoin. why bitcoin prices go down? probably because today there are many negative issues about bitcoin, for example google and some countries prohibit bitcoin, and so on.