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Author Topic: Why Is bitcoin going down again?  (Read 423 times)
Betinbtc.net
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March 17, 2018, 02:55:29 PM
 #21

Last night friend of mine ask me similar question and I gave him this answer:
"Do you really believe that jump from $1k to $20k could be corrected with just a shy touch of $6k? It has to tested at least one more time, or even worse. It could go even lower and then it will test that new bottom at least once."
For reference look back at previous market cycle. 
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supine
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March 17, 2018, 02:59:00 PM
 #22

I wonder why the price of bitcoin going down again even after the chinese holiday. Is it that it has to retrace back all the spike of 2017 or what?

Of course it is because of the recent news that are happening and bad news or false news coming out. People panic sell and this actually contributes a lot to the market demand. It's not actually the news that causes it, it's the people who dumps their bitcoin. This actually has a chain reaction because if more and more people dump their bitcoin, price will surely keep on falling and other people will surely panic and sell more of their holdings.
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March 17, 2018, 02:59:23 PM
 #23

I think the reason for bitcoin prices dropped again because many of bad news about bitcoin, besides it facebook and google also have started to block crypto.

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March 17, 2018, 02:59:34 PM
 #24

I wonder why the price of bitcoin going down again even after the chinese holiday. Is it that it has to retrace back all the spike of 2017 or what?

Because China is no longer in play. Haven't you heard that the Chinese exchanges were shut down because they were banned from trading for fiat? As a result some traders moved to Hong Kong and some are probably using Japanese and Korean exchanges, because since that happened the volume in Japan went up by a lot.
BTC is not going down, it's trading between resistances 7-11k with 6 being the bottom. It may take a year before we see another ATH.

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March 17, 2018, 03:05:16 PM
 #25

Mt gox is dumping all their bitcoins causing the price to crash heavily, its going to be a long time for the market to recover.
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March 17, 2018, 03:21:08 PM
 #26

That maybe true, the things happening in our society might be having an effect to bitcoins price and how investors think about bitcoin.
Maybe there is a correlation of different things to every restart of its cycle. If we observe all of the first few months of every year we can see that bitcoin price is quite low then start to go high when the year is ending.
Maybe ending of the year triggers something in our brain saying that it is good to invest and use our money on anything, leading us to buy more and more.
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March 17, 2018, 03:21:57 PM
 #27

Bitcoin going down again for some of region.In the end of year we see that bitcoin price was pump to $14k ,But when in chaina face a big problem of bitcoin transection by hacker.On that time many trader move to chaina in another way .Because they was loss a lot of money on that time.that's why bitcoin price going to dump.

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March 17, 2018, 03:23:31 PM
 #28

That's a good point. Chinese New Year and everything else has ended a while ago. But still the value of Bitcoin is falling. I don't find any reason for this. The price has already gone less than $8000. Probably you are right, Bitcoin really is following the path from 2017. God knows what's gonna happen next. It's been very unstable recently.
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March 17, 2018, 03:24:18 PM
 #29

I wonder why the price of bitcoin going down again even after the chinese holiday. Is it that it has to retrace back all the spike of 2017 or what?

Because it's March and people tend to be cash poor this time of year. Late spring and early summer will reverse the trend. If the lightening network prevents BTC from backlogging, it will skyrocket past it's ATH.

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March 17, 2018, 03:26:01 PM
 #30

Mt gox is dumping all their bitcoins causing the price to crash heavily, its going to be a long time for the market to recover.


With price back under $8,000 again, it will be difficult to break newly formed resistance levels yet again without any good news.
chocolaty
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March 17, 2018, 03:26:42 PM
 #31

I wonder why the price of bitcoin going down again even after the chinese holiday. Is it that it has to retrace back all the spike of 2017 or what?

Bitcoin is naturally volatile and it is greatly influenced by the occurences regardless of it being true or not. Also, market correction is not through yet. I think it will still last a month or two. But let's hope it won't be much longer.

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March 17, 2018, 03:31:18 PM
 #32

The value of bitcoin decreases for a variety of reasons. It is affected by the bad news. The influence of some governments prohibits bitcoin. and many investors have decided to sell it at a relatively low price

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March 17, 2018, 03:32:53 PM
 #33

bitcoin drops its price, but it will also increase when it comes to april the price of bitcoin will increase when buying bitcoin so we buy it while it's low
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March 17, 2018, 03:40:51 PM
 #34

I think, it is manipulated by some investors. Bitcoin price is not stable and it can be goes down or goes up, but what is the important the most is we can still use it as a legal, btw its not illegal.

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March 17, 2018, 03:48:06 PM
 #35

for now bitcoin prices have fallen, but circumstances like this we can take advantage to prepare for the price spike that will come in the next few months.

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March 17, 2018, 03:53:55 PM
 #36

The decline was due to investors monitoring the warnings from some regulators and increasing crackdowns on the virtual currency market, a sharp drop in bitcoin prices, reaching its lowest point. In addition, the price of ethereum and ripple also decreased significantly.
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March 17, 2018, 03:57:36 PM
 #37

Well there may be different reasons. To start with the news that google will boycott digital money promotions may add to the drop. There additionally may be a few whales attempting to control the cost of bitcoins by offering and sitting tight at btc's cost to drop and after that they'll purchase a colossal measure of btc once more. Additionally some phony/half-genuine news or gossipy tidbits which gets spread because of media may likewise add to the drop
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March 17, 2018, 03:57:42 PM
 #38

Take your pick :

1. Chinese government regulating exchanges

2. Google banning Crypto advertising

3. The SEC looking into ICOs and probably regulating it

4. Mt Gox trustee selling 40,000+ coins on exchanges and 160,000+ coins still up for sale

5. FUD about Bitcoin all over the place

6. The world economy is struggling

We can go on and on for days but we will never know the real answer, because most trades are done anonymously.  Huh

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March 17, 2018, 03:59:39 PM
 #39

Bitcoin is stable somedays in around $8k. No one can definitely say that Bitcoin is going to be down but we hope it will rise soon.
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March 17, 2018, 04:03:02 PM
 #40

From my view, there are  two main reasons about this situation. Bad news and regulations of bitcoin, which leads to the bearish market. Also, in previous time like in year 2017, the bullish market is so crazy and we need to have correction on the market. A lot of money has already out of the market, so we need the new people and new money coming into the market to make the bull again. Before that happens, what we shall do now is hold and wait.
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