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Author Topic: what are the causes of the continuous plunge in Bitcoin?  (Read 1193 times)
RemarkJohn
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June 12, 2018, 08:32:40 AM
 #1

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.
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June 12, 2018, 09:19:24 AM
 #2

At $8,000 there are more sellers but who will buy Bitcoin at $8,000 ? More sellers and less buyers, the price falls.


I'm from Malaysia,and I brought 8000 BTC when many years ago(and glad that I still have found back).I'm looking for cash out all the btc I have own now,it is about 100 million usd fund,but I don't think my country market have support that huge of volume,I do my research found that exchanges in Malaysia are really small,big exchanges like only bitfinex and coinbase can support that much of volume,but it can't use their service in Malaysia,and I'm not US citizen.I don't know what to do now.I'm really frustrated knowing I own that much of money but I can't cash out due to my country is not popular with this coin,any suggestion for me? Whoever can help me solve my problem I promise to gave him 50btc after I manage to cash out.A man will keep his word.
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updated: 6.1.2018 4:54pm

what country that can support 100 mil usd withdrawal? I'm actually have thinking about open an US bank account,but I'm not sure whether I can withdrawal that much of fund from exchanges to my bank account or not.I actually don't mind paying tax fees to US or Malaysia gov whatever,I just want to have a cash out plan.
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June 12, 2018, 09:27:43 AM
 #3

The reason is very simple due to all country taking steps to regulate the crypto currency and some country have banned it uses in their country so who ever is in trading  is only for short term trading as soon as they get to start profit they start to take it. So the market reacts and the price goes down. Till all country dont regulate fully and start functioning i think bitcoin price wont improve much.

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sunanbonang
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June 12, 2018, 10:03:27 AM
 #4

this is because some investors do panic sell and sell bitcoin they have, this makes things worse because it can make bitcoin price down.

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June 12, 2018, 10:04:58 AM
 #5

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%.
I'm sorry, but how is a $900 drop more that 30% this year? If you were right, bitcoin's price must've been about $2.5k, right? Otherwise such a drop is at best a 15% one. As for the causes of bitcoin still not recovering, I think that is mainly due to the fact that in 2017 serious people really started to notice bitcoin and not always they had good intentions. Cryptocurrencies became a serious threat to contemporary economy and especially banking system. Various governments started making attempts to regulate cryptos and exchanges. Such things are still happening from time to time, causing the panic selling.

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June 12, 2018, 10:27:29 AM
 #6

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.

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June 12, 2018, 11:04:21 AM
 #7

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.

The recent development is the hack of coinrail but I think there is a cumulative affect from various negative news. It also hard for investors to gain confidence in the cryptocurrency markets after a huge crash like we just saw 6 months ago. I think we will need several months of good or neutral news to get new investors to be interested in investing.

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June 21, 2018, 08:25:59 AM
 #8

At the end of May, Bitcoin hit a new high this year after a sustained surge, which began to reverse on May 25th and 26th. It once fell by 900 US dollars, a drop of more than 30%; China's bitcoin prices once fell to around 14,000 yuan, today About 14,700 yuan fluctuations.
Interestingly, the reporter noticed that the renminbi’s exchange rate movements from the onshore market are in stark contrast to the plunge in bitcoin prices. Also on May 25th, when Bitcoin turned down and fell, the exchange rate of RMB began to turn upwards.
The spot price of offshore RMB exchange rate CNH has risen from 6.8752 to 6.8498 from May 25th and has been rising all the way. Today, the intraday trading session of CNH rose to 6.8031. Onshore RMB spot exchange rate CNY, although closed today at the Dragon Boat Festival, rose to 6.8678 at 6.8860 on May 25 and rose further to 6.8525 on the 26th.
Plunge in this phase refers to the flactuation and yes I admit this too that there are many and continuous flactuation in the valuation of bitcoin in recent months of this year . Bitcoin is supposed to be very volatile crypto currency whose valuation keeps on flactuating but if look at the sensitivity and votality of bitcoin then we will come to know that these flactuation are very much necessary for the market to be stable so that people can also buy coins at low cost and can sell them at high rates.

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June 21, 2018, 07:24:47 PM
 #9

Hacks, Gox dumps, Weka handed people, Panic people, get to know these words very well because that is the reason and very root cause of the whole thing. The plunges that we see is all about that only. The bitcoin is open book, we can see how people react about any situation and instead of making it stable one they actually go beyond the needed reaction and start to panic and make it worst. The factors are many more but what we see, we should at least minimise it to reduce such plunges. But as always I say this is decentralised command of chain and we can do nothing about it.

   

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June 30, 2018, 11:17:45 PM
 #10

It is infinitely possible to guess, in order to understand the true cause of the fall of bitcoin. Most likely there is no one reason why this happens. The state and major players and newcomers influence the drop of bitcoin.
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August 05, 2018, 10:03:07 PM
 #11

The reason is very simple due to all country taking steps to regulate the crypto currency and some country have banned it uses in their country so who ever is in trading  is only for short term trading as soon as they get to start profit they start to take it. So the market reacts and the price goes down. Till all country dont regulate fully and start functioning i think bitcoin price wont improve much.
It is also only part of the price decision, as it has many determinants of price. It is possible that the related economic and financial sectors are closely linked. New prices can be driven up or down. It is not the only factors that can hardly affect the financial  electronics markets.
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August 05, 2018, 10:57:21 PM
 #12

This causes a continuous decrease in bitcoin.
1. Bitcoin's liquidity is defined when you can sell BitCoin to a certain extent without affecting the market and not devaluing Bitcoin.
However, even if Bitcoin prices increase over the peak, the liquidity of Bitcoin is not so good.
2. Investors lose interest in bitcoin.


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btcluisdiki
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August 06, 2018, 01:41:33 AM
 #13

In my opinion,  the continuous down trend in the current crypto market could somehow be more supply in the market since many investors are selling due to this bearish market. Another scenario could have been whales manipulation which affects the price value to dip but this trend is just temporary and people sbohld not get panic as this is normally happening in the market.

dobladonadouble
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August 06, 2018, 12:03:13 PM
 #14

The reason is that we should simply hold in to our coins. All things considered, it's quite often in view of the law of supply and demand in the market. The more supply individuals have in the market, the lower the cost is. To the point when individuals offer their coins it adds to the cost going down. On the other hand, the less suppy individuals have in the market, the higher the cost is.
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August 06, 2018, 12:44:20 PM
 #15

There are lots of causes of continuous  plunge in bitcoin is due on indifference  persfective  .It is difficult to pinpoint an exact reason for the massive slide the cryptocurrency market is experiencing right now, though some analysts are pointing the finger at CoinRail’s recent hack.
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August 06, 2018, 02:25:13 PM
 #16

The cause is of course our own because when prices rise we will sell our bitcoin, even though that is the trick of the popes. when you sell, of course the price will fall, try to be patient and hold your bitcoin.
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August 06, 2018, 04:24:49 PM
 #17

Negative news about bitcoin and crypto bans in this country that make crypto fall. then bitcoin is also often hacked so this news really makes the price of BTC drop
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August 15, 2018, 10:25:06 PM
 #18

Well, it's almost always because of supply in the market. The more supply people have in the market, the lower the price is. When people sell their coins it contributes to the price going down. That is why we should just hold in to our coins, the more people buying and holding the higher and more stable the price is.
Due to the investor's consciousness is not good. Say so for the conditions, but in fact most people want to get rich quick and high profits. Few people can think for the community and those who do it often lose. That is the thing in society that always exists.

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August 20, 2018, 04:05:24 PM
 #19

In my opinion, one of the decreases in bitcoin prices is because hackers who steal bitcoin and seek profits and also because of increasingly stringent government rules, the value of new digital currencies such as bitcoin itself cannot be expected to reach the lowest points in 2018 even almost all Cryptocurrency currencies experienced a significant decline.

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August 20, 2018, 04:47:43 PM
 #20

Bitcoins can be a good substitute for money.
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