Why the price of bitcoin rapidly going down???

[agentx44]

Is it because of the large number of altcoins?

Nope. I think the reason why bitcoins price goes down is because of banning of bitcoin in other countries. The price of bitcoin has a connection to the population of bitcoin users because if bitcoin users decreases, the bitcoin price decreases too and if bitcoin users increases, the price of bitcoin increases too.

[1714128801]

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[Harrow30]

Is it because of the large number of altcoins?

I can say that the numerous rise of the altcoins have contributed to the fall in price value of the Bitcoin. The other part is the price regulation on the Cryptocurrency market as a whole.

[Visteryy]

Is it because of the large number of altcoins?

Take a look at the speed of Bitcoin development. It increases and decreases rapidly because of the news either by governments accepting or prohibiting Bitcoin. That is a very normal thing. But if you invest Bitcoin three or five years ago, you still find that Bitcoin's price is very high

[bitzizzix]

Probably because many do not like or oppose bitcoin that makes investors feel uncomfortable or afraid, and in addition there is some hoax news or news about bitcoin that is not true and in addition there are some countries that prohibit bitcoin to enter in the country and google also reject that. because one's success will be an obstacle and many trials like the current bitcoin situation.

[BeGoods]

this may be a factor of the impact facebook to ban crypto ads. but I see in terms of panic sales due to the drop in bitcoin prices, we can see in the market, a lot of which sell bitcoin than those who buy it. as we know, the high price depends on how buyers are interested in buying. but this is just an assumption from me, I also hope the bitcoin back stable again.

I think this issue has long been circulating and does not really affect to the crypto market. yesterday the market got green for a while and then the price went back down. I draw the conclusion that many users are selling their assets when prices go up even if only a few percent. many users lose a bit of their trust to bitcoin. thus selling their assets, that's why bitcoin prices do not go up and more often to decreases

[tumokatok]

In my opinion, there are some factors that affect btc price drops rapidly. The first is strong competition from other new issued coins. The second factor is social media.Recently, facebook and google declared to ban any advertisement about bitcoin. This condition brings high impact on price fluctuation in the market. That is bad news for bitcoin.

The rapid price reduction is because people get frustrated with what happens to their investments because they just listen to people and do not do the actual research. I believe it is because people who just want money invest only in bitcoin without knowing what it really is. The way many people advertise bitcoin is very wrong in my point of view because most of them say that bitcoin will become very very big without knowing the exact value and use of bitcoin

[kolbalish]

The rapid decrease of bitcoin prices is not expected by anyone.However for some reason it's price falling constantly.Such as the over presence of altcoins,ban ads of btc by facebook google and others and regulations of govt.Some investors are selling their coins cause off depression.Most important fact is that in crypto market price fall before rise again.It's the most systematic way of crypto market.

[bib24]

I guess it’s normal since bitcoin is volatile, in addition to that are the negative news flying all over social media sites and some countries banned bitcoin. I hope that despite of those obstacles bitcoin will rise and continue for a long time 

[sigam batat]

Maybe bitcoin down is influenced by some aspects that are very influential on the rise and fall of bitcoin prices, such as many offers than demand So that bitcoin prices themselves down and some are assuming effects from the beginning of the year, and again many who think that because of the elements of the news negatives related to this bitcoin

[castellodocet]

I think it's a combination due to the recent ban from Facebook, Twitter and others and also because of the fake news that some governments spreads among their people

[marcuslong]

this may be a factor of the impact facebook to ban crypto ads. but I see in terms of panic sales due to the drop in bitcoin prices, we can see in the market, a lot of which sell bitcoin than those who buy it. as we know, the high price depends on how buyers are interested in buying. but this is just an assumption from me, I also hope the bitcoin back stable again.

I think this issue has long been circulating and does not really affect to the crypto market. yesterday the market got green for a while and then the price went back down. I draw the conclusion that many users are selling their assets when prices go up even if only a few percent. many users lose a bit of their trust to bitcoin. thus selling their assets, that's why bitcoin prices do not go up and more often to decreases

That really caused confusion to all investors mate, many of them felt some minor cases of panic. Particullar on days traders, but the long term trades wasn't showing up their emotions and rather than stressing out themselves they prefer to choose holding for good. Even some people now losses their trust with bitcoin, it isn't a reason for different groups to stop their dreams on crypto. As long as there's life everything is possible to happen, and every tommorow is our another hope. The roller coaster is going to be shaky and excitement still a long process to take.

[Sum24]

Is it because of the large number of altcoins?

Take a look at the speed of Bitcoin development. It increases and decreases rapidly because of the news either by governments accepting or prohibiting Bitcoin. That is a very normal thing. But if you invest Bitcoin three or five years ago, you still find that Bitcoin's price is very high

Sure when new users use bitcoin is makes the price use to change as someday it become high and when a lot of people sell their bitcoin at low price as when the panic bitcoin the price of bitcoin is market get down, so its natural no need to be about the price fall of bitcoin, we are almost bitcoin legal users so we can say price will increase now, in my place bitcoin is being use everywhere and it is acceptable for all kind of transactions and payment for goods we want to buy, I think bitcoin price will go high with double speed than it was going down few months ago.

[LogitechMouse]

There are 2 reasons why bitcoin is rapidly going down:

1. The FUD's spreading across the internet greatly affects the price of bitcoin. We know that aside from the pro investors, there are some investors who has weak hands and once they saw a negative news about bitcoin they will immediately sell their bitcoin.

2. This one is only my opinion and don't see this as a negative one. Maybe bitcoin is being manipulated by a group of rich people at this moment so it has been down at the 1st quarter of the year.

[ThunderCatSteve]

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.

It is not only Bitcoin but all the crypto currencies are this way. It is the most prominent one among them because it was the first digital currency ever made and also it is most volatile in nature. no other crypto coin decreases at such a low rate as Bitcoin does and similarly No other alternative coin declines at this pace because it present in a very small quantity. It is the benchmark for all other digital coins also.
Fake news everywhere and government regulation are making this awkward situation which nobody from us likes this.

[ylnar123]

Is it because of the large number of altcoins?

Asking that question has been answered on some posts before. Yet with regards to yours, large number of altcoins has nothing to do with the price drop of Bitcoin. It because investors fear on the negative news about crypto currency that spread allover. People are panic selling their stocks which makes the supply abundant and the demand scarce.

[Sirait]

I think the cause of the Bitcoin price is rapidly going down because of the activity in the market that is not too big because many are holding Hold and the selling rate is higher than the purchase rate. CMIIW

[dodgrad]

It is normal time, when bitcoin rapidly going down, one year ago we can see the same situation, but everything will return to normal in time, we need to be patient.

[popolite11]

Is it because of the large number of altcoins?

I do not see any connection between the greatest number of altcoins and Bitcoin fall. Bad news and fud have the biggest negative effect, this is true. The ICO's ads ban by many sites also influenced it.