Why the price of bitcoin rapidly going down???

[Streamlink]

Is it because of the large number of altcoins?

Altcoins  are a factor the more altcoins there are in the market the more market share they take away from bitcoin however that is not really the reason why the price of bitcoin is going down the price of bitcoin going down for the simple fact there is not a lot of demand and there is not a lot of demand because there was a very huge crash not too long ago.

The demand of bitcoin is still more than enough in the market and the prices are not low because of this silly reason. Besides that, altcoins are as far as concerned none of them has the potential of attracting the lot supporting bitcoin towards it. There are simple followers of bitcoin, nothing more than that. Prices were down because of the correction and they are soon going to recover. We should give bitcoin some more time.

[1714992396]

1714992396

[1714992396]

1714992396

[neonshium]

the ban of google and facebook have directly affect the circulation of the coin... buyers are now getting smaller in numbers because it afraid to the effect of the ban to the currency... the demand was low thus affecting the price. hopefully,  ther will be countries that well be added to the list that will accept bitcoins that would be a great help to uplift the price of the coin.

It is all about story of banning. When something is banned in somewhere, all the related people would be effected badly. So avoiding such circumstances, right now the users who have been investing in bitcoins, they started selling their coins.

They don’t want themselves to be at loser side. They don’t know about the reality of bitcoins. Right now, they need to hold rather to sell at low prices.

[ahiaba.john@yahoo.com]

I think price of bitcoin is rapidly going down because of many negative news around it but not because of too many altcoin. China raise an alarm about banning bitcoin in there country likewise south Korea and we also  heard that Google will stop crypocurrency Ad.This kind of negative news will  discourage investors.

[LeancyBTC]

I think price of bitcoin is rapidly going down because of many negative news around it but not because of too many altcoin. China raise an alarm about banning bitcoin in there country likewise south Korea and we also  heard that Google will stop crypocurrency Ad.This kind of negative news will  discourage investors.

Hm. I strongly believe that news is created by the whales. Bad news always comes together, they never come separately. And when there are likely 100 bad news at once, the price of bitcoin will be drop dramatically. Right now, they are collecting bitcoin with a cheap price

[South Park]

Nope that's not the only reason. Recently bitcoin has been bombarded by lots of bad news this past few months like the recent sell out of worth $400 or 500 million dollars worth of bitcoin from a trustee from the Mt.Gox scam exchange. China banning all altcoin and ICO's, Korea also banning ICO and exchanges, india making it illegal. In fact its a miracle why bitcoin is still surviving.

I will not go that far, yes there have been a lot of bad news recently but to call it a miracle is a stretch to me, bitcoin is very resistant and it doesn't matter what you throw at it, it is never going to be enough to destroy it, in fact I think that what we're seeing right now is an attempt to bring down the price of bitcoin the most they can so that people that have a huge amount of money but that still want to invest in bitcoin do it for a fair price.

[Cedie]

Well that is definitely because of the FUD's that bitcoin receives in the past few months. That has a very large impact on bitcoin's price and on bitcoin's trust rate. I also believe that alts do not have an inverse impact woth bitcoin, but a direct one. Alts can boost bitcoin's popularity, and thus, its price. And there are also big news that affects bitcoin's price like the banning of bitcoin in certain countries. Of course that would lead a countriful of people to sell their bitcoins.

[nightfury]

It's rapidly going down simply because it's been affected by the crisis or because of whales selling their bitcoin. In addition to that, people who sell off during that time can also contribute to bitcoin's rapid fall down of its price.

[Kayla]

I also think like you, with more altcoin will cause a decrease in interest in bitcoin. With more and more coin options, people will share their investments in other digital currencies. In addition, the ban on government use of bitcoin and negative news about bitcoin also affects the reduction of bitcoin price. So this will affect the confidence of bitcoin, so the bitcoin price continues to decline.

[cryptojac17]

I also think like you, with more altcoin will cause a decrease in interest in bitcoin. With more and more coin options, people will share their investments in other digital currencies. In addition, the ban on government use of bitcoin and negative news about bitcoin also affects the reduction of bitcoin price. So this will affect the confidence of bitcoin, so the bitcoin price continues to decline.

If altcoins sprouts like mushrooms in the market and most   are become successful it couldn't have been the price of bitcoins getting low. Because if altcoins are successful bitcoin price will also  increase because of demands because as we know all altcoins will be valuable if it is converted to bitcoin.

[South Park]

I also think like you, with more altcoin will cause a decrease in interest in bitcoin. With more and more coin options, people will share their investments in other digital currencies. In addition, the ban on government use of bitcoin and negative news about bitcoin also affects the reduction of bitcoin price. So this will affect the confidence of bitcoin, so the bitcoin price continues to decline.

Having more coins in the market is not going to decrease the interest in bitcoin, the interest in bitcoin is still as high as it can be but the real problem right now are all the government regulations that we are facing and until that doesn't stop then it is going to become quite difficult for bitcoin or any other coin to keep growing in value for the long term.

[emezh10]

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

This are some of the minor reasons for bitcoin price to experience sudden changes. It is quite normal for bitcoin to experience changes whether it is positive or a negative thing. Actually bitcoin system is commonly need to have an interaction on its price because these changes would help the system of bitcoin to develop and to have a better experience on transactions, investment and trading where its price is the main factor for people to used bitcoin and cryptocurrencies.

[umar22pk]

I don’t think that price fall is due to huge coins availability, if there is liquidity of huge quantity then price should be go up.

In my opinion some Goverments are trying to ban or regulate bitcoin & there is some news from Facebook & Google to ban ICO’S, low price of altcoins due to these news.

[bitLeap]

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

will it be done really?
and how will the world cryptocurency be developed without any support from google?
and does this have anything to do with the government?
is there politics too?

[bitLeap]

Hopefully the price will soon bitcoin normal again.
with respect to all the bans against bitcoin has affected prices cannot be predicted by us, all predictions have been destroyed since most news sites and countries which prohibit

[matuson]

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

will it be done really?
and how will the world cryptocurency be developed without any support from google?
and does this have anything to do with the government?
is there politics too?

You're wrong. Google is a monopoly. They all cooperate with the government. This helps them maintain their monopoly status. But I do not believe that such a primitive method of combating cryptocurrencies can have an effect. Perhaps the major players in the stock market and bankers have compensated Google ad losses in order to enhance the effect of panic.

[gatti]

Not at all.This is not a reason anytime.The price of bitcoin is fluctuate due to some panic selling,and some FUD in the crypto market.This panic and fear is occur due to the crash in the price of bitcoin.Hold is only solution at this situation .

[millenniumcoin]

I think it just normal for price of bitcoin and altcoin to fluctuate just as we are currently experiencing these period but i believe prices we soon pump up in no distance time.
However , one of the the major reason why there are fluctuations could be attributed to the supply and demand.
This is honestly the major factor that dictates bitcoin prices. This is simply because the  amount of Bitcoin being traded at exchanges is just a fraction of the available supply in circulation. Most Bitcoin is kept as investment, so it isn’t always for sale. In other world Bitcoin price is determined by supply and demand! Although Supply is well defined and well controlled but Demand is ultimately set by the number of buyers who are willing to buy additional bitcoins.

[whyrqa]

Not at all.This is not a reason anytime.The price of bitcoin is fluctuate due to some panic selling,and some FUD in the crypto market.This panic and fear is occur due to the crash in the price of bitcoin.Hold is only solution at this situation .

you have more to understand that the date on the market have a large enough offer bitcoin, and demand at all there is no of for the lack of popularity. in addition to the minimum popularity bitcoin, added yet a huge disappointment in the current situation.

[St4yInTh3D4rk]

Is it because of the large number of altcoins?

That is not the reason,every crypto currency is falling now so number of crypto currencies is not a matter.But normally the crypto currency price will hit down trend in beginning of year so this is happening in this year also but many factors causing the price fall is rumors and ad bans from reputed companies.

[sheenshane]

Is it because of the large number of altcoins?

That is not the reason,every crypto currency is falling now so number of crypto currencies is not a matter.But normally the crypto currency price will hit down trend in beginning of year so this is happening in this year also but many factors causing the price fall is rumors and ad bans from reputed companies.

Yeah, that's not the one factor that bitcoin price was down these days there's no effect even how many altcoins in the market bitcoin will still remain. Banning of ads in social media's maybe one factor of these happenings now the Google, Facebook and recently Twitter, these 3 reputed companies now are deleting ads regarding those users who post and share in ICO's project.
Meanwhile, this may affect also bitcoin price in the market that Japan now some exchanges are closing and one of these is Binance.

But that's only a speculation we all know both that bitcoin is decentralized coin maybe also it is a part of bitcoin that have a volatile to get tempted those investors to invest when price almost hit the floor.