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Author Topic: Possible reason why Bitcoin price is decreasing for last few days  (Read 249 times)
cryptokingdom
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June 13, 2018, 07:22:11 AM
 #41

This was not a question and let me give the possible reason. There is no major negative news and thus it is not because of it. There are next gen of ASCIs which had made mining easier. These are being tested by some pools and cost of mining btc is reduced because of this. They can thus sell for less and thus prices have reduced.

this doesn't even make any sense and you are wrong about some parts. i made them bold.

first is the fact that there was only talk about a big company in Japan releasing their new ASIC that they claim is more efficient than Bitmain's ASICs. i don't think it has reached any "farms" (not pools) yet.

second even if they already have it and it costs less for them to mine bitcoin that still doesn't mean they are going to sell it for less! that is not even a logical human behavior.
imagine this, you are in a signature campaign and lets say they pay you 0.01BTC per week which you sell. if next week they pay you 0.015BTC and price is $7500 will you sell your  coins for $6000 per bitcoin? then why do you think miners will sell it for anything lower?
I am in  agreement with your point,  no miner will sell at a lesser price Even though they have profound another means of mining with  low cost. Even hackers don't sell at low Price.

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June 13, 2018, 07:25:38 AM
 #42

I am agreed with your thought. Which has a great financial value, are likely to face the situation of price up and down. So as bitcoin is facing now. Beside with your thought, I want to add that few days back, South Korean exchange, Coinrail server was hacked with so many altcoins. Thus a huge FUD raised which affect the market transactions.

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June 13, 2018, 07:28:06 AM
 #43

This may be true. Then are we now going to see the price of bitcoin being moderated by the law of demand and supply? This could be interesting and what can be done since mining is legal aspect of bitcoin earning.

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June 13, 2018, 07:42:35 AM
 #44

For me,it is because many investor sold their bitcoin because of high value making the bitcoin unbalance.It should be more supply more demand as well.

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June 13, 2018, 07:55:04 AM
 #45

This was not a question and let me give the possible reason. There is no major negative news and thus it is not because of it. There are next gen of ASCIs which had made mining easier. These are being tested by some pools and cost of mining btc is reduced because of this. They can thus sell for less and thus prices have reduced.

Yes you are right right now even i thought that the market trend and conditions are stable and there is no negative news nor there is any kind of major announcements or event released then why the hell market is going down. The actual reason you stated is right because of the introduction of next gen of ASCIs the cost of mining btc is reduced and it may be affected the BTC prices. But i think this will soon result in prices to rally higher soon. I personally think we are going to see the rise of bitcoin prices soon and the fall happening in past two days is just a technical testing of previous support levels or demand areas.

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June 13, 2018, 07:55:54 AM
 #46

This was not a question and let me give the possible reason. There is no major negative news and thus it is not because of it. There are next gen of ASCIs which had made mining easier. These are being tested by some pools and cost of mining btc is reduced because of this. They can thus sell for less and thus prices have reduced.
I think those miners won't last that long. Sooner or later, there will be a banning again in mining and that will help bitcoin increase its price. Also, I think what you meant was ASIC miners because I already tried google. I asume that these types of mining rigs are quite expensive and therefore it needs a capital. To that end, I really abhors the price of bitcoin today because I hodl some.  Huh

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June 13, 2018, 08:02:54 AM
 #47

one possible reason is, switching investment. some of the other investors are quit transferring their fund into another coins/altcoins just to earn little profits , unlike holding bitcoin at this moment, digging more deeper this bitcoin price, so instead of waiting to bitcoin when it will pump, they are switching into another coins/altcoins that can generate a little profits just to earn while facing the dip.

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June 13, 2018, 08:21:06 AM
 #48

The price fluctuation is very natural and this price fall should be taken as a natural phenomenon. This is the feature of this market and there is no specific reason working behind this price fall.
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June 13, 2018, 08:23:31 AM
 #49

This was not a question and let me give the possible reason. There is no major negative news and thus it is not because of it. There are next gen of ASCIs which had made mining easier. These are being tested by some pools and cost of mining btc is reduced because of this. They can thus sell for less and thus prices have reduced.
I do not know what the exact reason is, but it seems bitcoin is off by the media. Most people sell bitcoins at low prices because they are following the market trend. If the down trend, everyone sells to wait for price low and they will buy
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June 13, 2018, 08:24:09 AM
 #50

Yes, this might be true. The next generation ASCI has made mining so easier and thus it might affect the price of the cryptocurrency. But, of course this is not the only reason of dropping of price of bitcoin.
JerryJam
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June 13, 2018, 08:27:47 AM
 #51

You ask a question that no one can answer. Use your brains . And think for yourself.

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June 13, 2018, 09:17:38 AM
 #52

Bitcoin price is decreasing for the last few days because of the Korean exchange hacking and due to the above the trading activity has been stand still to above exchange and it will be resolved very shortly .Basically bitcoin is volatile nature  in the market and it is a new form of economy which is linked with the modern technology which is totally contrary to the current economical concepts.The crypto currency movements in the markets are directly effects to the bitcoin as well.The bitcoin current market is bearish.

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July 05, 2018, 09:40:17 AM
 #53

yeah it can be factor. but what's important is bitcoin's value is steadily increasing.
Jannatul Shefa
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July 05, 2018, 10:31:14 AM
 #54

Actually I don't think anyone know the exact reason. It's every currencies habit to grow up & to go down. So it's common that bitcoin price will decrease & it will rise soon.

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July 05, 2018, 10:38:17 AM
 #55

Scams are inevitable, we can’t have the luxury of time to eradicate scams. The tricks are expanding exponentially which makes the value fall in the market. Furthermore, numerous negative FUDs are additionally in charge of this, which brings about diminishing of requests. Something ought to be done as such that these issues can be tackled.
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July 08, 2018, 01:10:15 PM
 #56

Possible reason why Bitcoin price is decreasing for last few days:
1. Bitcoin's Slow Network
Bitcoin's Blockchain network is still painfully slow, especially when compared to some of the more widely used payment methods available. By the end of 2017, the average time to confirm a Bitcoin transaction is 78 minutes. It is estimated that the Bitcoin network can handle only 3.3 to 7.0 transactions per second. Other currencies can support more than one transaction per second.
2. High transaction costs
There are a lot of transaction fees to consider when using coding money to purchase including transaction fees, networks and wallets. While the fees change almost daily, the average transaction fee for Bitcoin is still over $ 1, according to BitInfoCharts.com. For Ethereum, the fees fall into about $ 0.42; For Litecoin, the average fee is only $ 0.17. Again, compare it with a regular credit card in that no charge is passed directly to the consumer. Besides having one of the slowest networks, Bitcoin is also one of the most expensive means to support a transaction.
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July 08, 2018, 01:28:20 PM
 #57

I have read the same thing on facebook a while ago so I guess that can be a reason. But I have also seen another reason for this. Have you heard the mysterious Asian whale?
Huge Bitcoin Whale With 94,000 BTC Transfers Crypto Onto an Exchange, Rattling Nerves
Many are worried about it if this whale will sell all of those transferred coin to an exchange, surely it will make an impact negatively to the price.
I have checked this and checking still but thanks this wasnt in effect,the whale doest sale the 94,000 bitcoin in which safe for us,but what im worry is why the investors not coming back while this speculative issue does not come to reality..

But as of today we have small growth and still waiting for continuation

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July 08, 2018, 01:58:35 PM
 #58

There are no extraordinary reasons behind down bitcoin's prices . Intrinsically , bitcoin has ups and downs . Because , amount of bitcoin has very    limited availability. That's why, there is always ups and downs.

 
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July 08, 2018, 02:36:21 PM
 #59

There are many reasons why that happened but not one such as, Government restrictions in major countries like United States, India which has led bitcoin Investors and holders into a difficult situation  to think it will not have a significant future and the other reason is lack of practical use in the current world because even bitcoin has become a great investing subject the world still doesn't use it for common transactions which makes bitcoin useless  in the real financial world. But this will soon change because there is a positive hope due to technical advancements and attraction of potential industries to use bitcoin for electronic transaction for better convenience and security.
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July 08, 2018, 03:40:15 PM
 #60

Actually I don't think anyone know the exact reason. It's every currencies habit to grow up & to go down. So it's common that bitcoin price will decrease & it will rise soon.
Yeah i'm with you, i think it's just all about the demands and supply, maybe the last few days people are selling Bitcoins to spend on their vacations or buying new stuffs so it's decreasing maybe.
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