Why the cryptocurrency prices went down suddenly

[AlexTF.CCN]

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

[1715486315]

1715486315

[hikky22]

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

[Ging]

You have to know my friend that btc is the king of the crypto and whenever the price of it goes down the price of alternative coin go down either but soon it will back normal

[GreatBug]

Now whole market has a little down and in some case it was a problem which was connected to drop of bitcoin price, sometimes when king is falling, whole crypto is going down.

[dakszmey]

Now whole market has a little down and in some case it was a problem which was connected to drop of bitcoin price, sometimes when king is falling, whole crypto is going down.

always what btc is down, alts go down

[makuhpal]

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.

[lobo13hf]

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

About the binance's case, it caused by the 3rd party. As far as i know about that case if the majority of the binance users have used automated trading service rather than doing manual trade with their self.

The hackers were putting a backdoor to be able to send the amount from the user's account through API. We know that automated trading will always use API to do that.

[SalmanMJ9]

I think right now a lot of negative news around crypto world. The thing with any market it's all connected and we've seen this many time over and over. It's just matter of time to see it green all over 

[stronghandsdeeppockets]

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.

It all had to do with some people who used a certain trading bot for binance. That trading bot converted the users' coins into BTC and bought VIA in order to pump it: https://twitter.com/CryptoTutor/status/971412221820620800. It was a hack, but only in formal terms, as it didn't have anything to do with Binance (they did nothing wrong). Also, this happened only to people who did not secure their accounts by selecting only their IP address as an IP whitelist (or something like that, I dont remember exactly)

Please stop eating FUD, but more importantly, spreading FUD.

[habaratbu]

Because the market has shown too much stable from the past few weeks that is why it needs corrections although news has something to do with these crashes,the market will always be unstable that is why you need to adopt in every situation in the market,do not expect the market will do good all the year,it needs to rest just like people does.

[kiw_91]

With the recent Binance Hack. Then the Mt Gox selling off the bitcoin and bitcoin cash to raise money for disbursements. Thus making all the reds in crypto now. We'll be seeing red for a little while i would say. The recalibration would take more time. June  will be the time when the market recovers. Y'all can read the article here. The man who crashed btc. Thus making all alts in RED>

https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cash

[vike]

 As for me it is a simple correction of crypto market, and now we can see the bullish trend and it is a great chance to invest in crypto 

[donpepe]

Market will always have ups and downs,high volatility makes our market grow,the market has been so stable for couple of weeks and it seems it just a correction from that stability,you need to learn how to adopt in any market situation so that you wont doing panic selling because panic selling will only worsen the situation in the market.

[JaredStein]

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.

[emmanmalaman]

Maybe because of the FUD people are spreading after the Binance hack but if you will research further especially in Facebook groups, people there would say that the crypto market is creating another cycle. January to April, or even up to June will have sideways or dipping movements but after June or July, coins and tokens will reach higher highs because it's the cycle that crypto every year will experience.

[wuvdoll]

You have to know my friend that btc is the king of the crypto and whenever the price of it goes down the price of alternative coin go down either but soon it will back normal

It is one thing that has always come to play and most times too when bitcoin gains huge dominance from bull rally, it is normal to also see some other coins dropping badly as a result of that. However, for those who can play with the market, they will always take advantage of those moments for their benefit, so at the end, once the market recovers, we would still be swimming in profit anyway since this is not the first time we will be experiencing a huge red.

[kanmo]

In my own opinion the down time is caused by the newbies in the crypto world. They get manipulated easily by some unconfirmed new and they sell their coins at a very ridiculous price.

[Wilsonong222]

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

Nice post OP although the reporter look rash I can ignore laughing. Putting kidding aside, I just hope that the downward moment is only temporary. This kind of bad news coming from the media really affects the price of cryptocurrencies. But based on TA the trading price for next week is 9,200 – 7,700 USD. If fud continue in BTC which we are all are hoping not happen, the price of BTC would be 6,500 USD in the 3rd week of March.

[cryptofreak42o]

So  many negative news into social media against crypto world i think this is the main reason . people always follow the social media so they must be worried about that . i think this situation overcome in a short time so dont be panic .

[michael shikany]

There is no doubt that the influence of American policy for the whole world is huge, if the United States limits the exchange, so I think other countries will quickly take measures to limit the exchange, it is just what I worry about.