Why the price of bitcoin rapidly going down???

[CHENIEN]

The rapid decrease of bitcoin price today it is because of some negative issues that affects the operation system of bitcoin, like for example the google that ban crypto advertisements, but we all know the reality of bitcoin, it is something a form of threats by opposite powerful personalities which demand another additional percent of payments. Maybe google ask for another additional contract of payments that allows cryptocurrency business freely introduce and advertise their business developments, that's why today, google temporarily banned crypto ads. Hopefully it will resolved immediately by crypto management.

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[embung mereng]

What? Is it because of the large number of altcoins? you have to know, the amount of altcoin and altcoin prices never affects the bitcoin price, but bitcoin can affect the price of altcoin, that's important for you to know.

Well, bitcoin prices are highly dependent on speculation and news that comes on cryptocurrency, like some countries are banning bitcoin, facebook banning cryptocurrency and the latest informatios is google will ban cryptocurrency. Such information will make the investor or bitcoin user sell the bitcoin he has, so the bitcoin price will decrease. So, looks like you should read news other than this forum, I suggest you to read on https://www.ccn.com it will help you.

I also read the news that there are some governments that prohibit bitcoin and also facebook and google prohibit advertising bitcoin, maybe this causes many investors doubt and release bitcoin so bitcoin prices continue to decline.

[Eternu]

The rapid decrease of bitcoin price today it is because of some negative issues that affects the operation system of bitcoin, like for example the google that ban crypto advertisements, but we all know the reality of bitcoin, it is something a form of threats by opposite powerful personalities which demand another additional percent of payments. Maybe google ask for another additional contract of payments that allows cryptocurrency business freely introduce and advertise their business developments, that's why today, google temporarily banned crypto ads. Hopefully it will resolved immediately by crypto management.

As far as I know, Google ban all kind of cryptocurrency advertisement because of scammers... at least that was official announcement. And I believe that was the case. But I would not be surprise that for right price someone could advertise even with ban active. But to be honest that added more troubles to already existing ones. There are just too much FUD's around, too much bad news (mostly fake ones). So its no wonder why people started selling their coins. I believe that price will recover when people realize there were nothing to be afraid of. Also price could stagnate for longer time.

[Smack 1]

Is it because of the large number of altcoins?

The value of altcoin never alter the bitcoin price, whereas the price of bitcoin will alter the value of bitcoin. Its all because of government, facebook is banning cryptos so investors are in panic to invest in it. So we should go always through the news whats happening, and we should never sell the bitcoin for low value in panic due to fake news or rumour.

So many reasons actually come down why bitcoin price rapidly in down state. Like banning the crypto in some certain countries, and others fuds. These has the big impact the reasons price going down but never panic selling your btc.

because so many negative issue issues that cause bitcoin value to go down not to mention google announces will prohibit all CryptoCurrency Related ads, things like this is what causes bitcoin price down. but you do not panic problems like this will soon be solved by crypto management. and bitcoin will pump again the price.

[Coffee135]

Is it because of the large number of altcoins?

That's not so. Altcoins are needed. They perform their functions well to stabilize bitcoin prices. But it is only in good condition. Such mechanisms do not work during panic. The fall in bitcoin prices has provoked a fall in the price of alcohols and so they suffer more because their value is less.

[Dragon5]

One of the most experienced traders George Kikvadze from Bitfury predicted the price will go up in April up to 12k and will reach 52k by the end of the year. A bold prediction, but really inspiring. I'm not sure about 52k, but price will definitely go up

[BrewMaster]

in my opinion it is like a Dam. imagine a hole in it where the water is going out, if you put a crack in the dam things won't go to hell but if you keep putting pressure on that crack it will become bigger and the water coming out becomes a lot more and out of control.

when the big resistances break like this and keep on being broken the lower it goes, there aren't any more resistances because traders are pulling their buy orders and staying out to watch where the bottom is.

of course at some point there will be a new resistance which will grow big and prevent any further drop but it takes time to reach that.

Is it because of the large number of altcoins?

this is actually an interesting question.
and the answer is, i think so. there are a lot of altcoins and most of them only have bitcoin markets. so people who have been investing their money into them and now want out because of the dumps have to sell their alts to bitcoin and then sell bitcoin to fiat, and that can crash bitcoin price.

you may think that the opposite might have been true and while investing they should have bought bitcoin to invest in alts so bitcoin price might have gone up because of them in first place. and you wouldn't be that wrong either. but if that was the process, it was a slow one and when money comes in slowly it doesn't change things that much. so the rise part can be negligible. but the exit is sudden so the drop can be hard.

[sindikat]

One of the most experienced traders George Kikvadze from Bitfury predicted the price will go up in April up to 12k and will reach 52k by the end of the year. A bold prediction, but really inspiring. I'm not sure about 52k, but price will definitely go up

I do not rule out this possibility. It seems to me that now there is a great hunt for coins. We do not see a panic reset of coins. Their slowly who the buys. But at low prices. Perhaps this is due to the fact that the whales began hunting for the coins of the depositors of Mt.Gox. I do not understand why not give these coins to investors? That would be better for them. Now they not only lose coins but also lose Fiat by lowering prices.

[btc.xbt.btc]

The altcoins are one of the reasons, simply because they have been stealing the spotlight from BTC a little. However if you notice most of the other altcoins have also had a downward thread in the last few weeks. One of the reasons is also that BTC is the most commonly used currency used to trade other coins and therefore once its price goes down all the prices in the market drop.

[BettingTips]

If you regularly watch the news about cryptocurrencies, you may realize that the current decline in Bitcoin is due to negative news as well as the preparations for the G20 meeting. The rise of altcoins I think not the cause of the Bitcoin exchange rate dropped, but the psychology of investors affected by the negative news led panic sell.

[Hydrogen]

Is it because of the large number of altcoins?

If I remember right, the G20 summit is on monday. I think we could have important information on the future of bitcoin regulation announced on tuesday the 20th of march, 2018. Altcoins could have a positive effect on bitcoin's price. They provide additional network transaction bandwidth and a medium for transmitting crypto quickly with low fees.

The media could be attacking bitcoin. There was the "tether(USDT) conspiracy" where the media claimed $80 billion in tether was being used to buy bitcoin in an effort to artificially inflate its price(it helps if you know tethers market cap is only around $2 billion). Now the media may be pushing something they're labeling the "bitcoin death cross" you can read about it here:

Bitcoin’s 50-day moving average has dropped to the closest proximity to its 200-day moving average in nine months. Crossing below that level -- something it hasn’t done since 2015 -- signals fresh weakness to come for technical traders who would dub such a move a "death cross." Another moving-average indicator of momentum has already turned bearish.



Image link: https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iCW5G0POCvEI/v2/800x-1.png

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

Anyways there a lot to be said about this. A lot of different potential angles.

[Zlatangu]

Quoting a certain someone answers you" sometine is good sometime is shit" . srsly  is there even an elaborated hypothesis that we should accept as true , i doubt it!!!

[Ranly123]

Is it because of the large number of altcoins?

It is because investors who invest from $1-$1k is starting to sell their bitcoin's which makes the supply abundant. Yet we cannot actually tell that this is the reason, but we just hope that it will not be a bubble.

[maminelly]

how many days that bitcoin is always on serious situition...there is a lot of bad news about bitcoin and its existence in doubt...,Facebook even goggle ban bitcoin ads....Investors are panick and so many are skeptical of bitcoin, it also causes bitcoin to go down. Altcoin does not affect the bitcoin of the bitcoin that affects altcoin....the value of bitcoin is everyday down in the market...

[Mamaecrypto]

I dont think it is just the number of altcoins although I do think that does influence since it spreads out the total crypto market cap. This is caused by a wave of bad news that is causing fear in many causing them to sell out. In addition tax season is coming up and I do think the big Whales out there that withdrawn their shares at the ATH are now  having to dig into their pockets to pay taxes on earnings. Since price keeps lowering people just keep on waiting for the bottom to buy back. I think this time we will have to wait a long while and only see a full recovery on the second half of the year... at this point I am starting to thing... if so. Strongly hoping for a AtH by the year.

[Harper6]

Nope its because government are trying to minimize bitcoin which it can affect the prices of the market. Facebook and google are doing the ban as well and that can affect also the prices

No one is banning bitcoin no one is against bitcoin, bitcoin price is directly connected with the demand and the price, if in market there will be high amount of bitcoin than the supply then for sure they will decrease bitcoin price, I think we should not sell our bitcoin at the time of low price so it will prevent our bitcoin from getting down. Panic selling is full of lose it can decrease bitcoin market place, people hold then it will not fall ever in price.

[ivankoh]

Continued bad news about the recent cryptocurrency market has left investors confused and sold out all they have. Beginning with Google's ban on ICO ads and then the Twitter tactics that banned ICOs, these were a powerful psychological blow for many investors and they sold out massively to the market falling sharply.

[pitiflin]

Is it because of the large number of altcoins?

If I remember right, the G20 summit is on monday. I think we could have important information on the future of bitcoin regulation announced on tuesday the 20th of march, 2018. Altcoins could have a positive effect on bitcoin's price. They provide additional network transaction bandwidth and a medium for transmitting crypto quickly with low fees.

The media could be attacking bitcoin. There was the "tether(USDT) conspiracy" where the media claimed $80 billion in tether was being used to buy bitcoin in an effort to artificially inflate its price(it helps if you know tethers market cap is only around $2 billion). Now the media may be pushing something they're labeling the "bitcoin death cross" you can read about it here:

Bitcoin’s 50-day moving average has dropped to the closest proximity to its 200-day moving average in nine months. Crossing below that level -- something it hasn’t done since 2015 -- signals fresh weakness to come for technical traders who would dub such a move a "death cross." Another moving-average indicator of momentum has already turned bearish.



Image link: https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iCW5G0POCvEI/v2/800x-1.png

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

Anyways there a lot to be said about this. A lot of different potential angles.

I'm not going to lie but I read through all the replies in this thread and you're the only one who actually had made some sense and write something that is atleast a little relevant. Everyone else is just Spamming and shitposting.
About tether - Rumors are that exchanges are going to delist tether and bring in proper USD. Some say another crypto, alternative to usdt might also be a possible option.
About the price downfall - One reason is that the whole Mt. GOX trustee issue, Mr. Kobayashi and his shit that he is dealing with. Another is the obvious one that almost everyone stated, panic selling. Eh fuck people.

[ThunderCatSteve]

Fake news everywhere which is making panic to the people that just bought bitcoin for fun and making money within a short period of time.

[1Referee]

Well, bitcoin prices are highly dependent on speculation and news that comes on cryptocurrency, like some countries are banning bitcoin, facebook banning cryptocurrency and the latest informatios is google will ban cryptocurrency. Such information will make the investor or bitcoin user sell the bitcoin he has, so the bitcoin price will decrease. So, looks like you should read news other than this forum, I suggest you to read on https://www.ccn.com it will help you.

Definitely not! CCN is amongst those who are considered the worst of the worst when it comes to being a reliable news source. They are one of the main sources spreading fud and other rubbish being a massive contributor to fear in the market. The far majority of their articles either have a heavy bias towards a certain crypto currency or service, or it's just blatantly sponsored. If you want to try to get as close as possible to the truth (which some times is even inpossible), try researching every article subject thoroughly by jumping into every possible source of information. NEVER just rely on one party, because they more often than not only show you what they want you to see, especially when it comes to CCN.