what are the causes of the continuous plunge in Bitcoin?

[Kemarit]

Bitcoins can be a good substitute for money.

No its not.

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.

It could be one factor but I don't know how much weight in can bring into the table. Its obvious that there might be some manipulation and stringent regulations put by a lot of government globally against crypto. But for me the main reason is that investors and traders evolves as well, they adapt and change strategies and won't simply put their money on a market wherein it remains bearish for almost a year now. So don't be surprise if you will hear people saying that it might be a bull trap or just dead cat bounce because it might be really the case right now.

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[Visteryy]

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.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

[Daseento]

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

[btc_angela]

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

[Indrawan77]

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

Yeah, but even with some positive news bitcoin still unable to get out from pressure, I think the reason is because a lot of people had hold their bitcoin for a long time, when the price go up a little they will sell it, the only hope to make bitcoin price go up really fast is through ETF, without any big investors or legality from government, it will be hard for bitcoin to go up quickly

[gabmen]

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

Well i can agree that an approval of the etf this september will likely spell positive news and in a way pull the price up. But i also don't think it's necessary. And a lot probably think so as well since the price didn't really move down after the recent rejection

[Amokomowo2005]

caused cant be explained but i believe its causing by the fud which is affecting and discouraging more new investors to invest big on cryptocurrency, when new investors come, the price will shoot up.

[VclDm]

Nowadays, too many people lose confidence in the cryptographic market, so they have withdrawn usd to invest in other fields, so the number of people leaving the market is quite high.

[mostkey]

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

For current market movements no one knows for sure the true cause and of course this is a lack of demand, it's not easy to encourage people to buy back Bitcoin at a fairly cheap price now, the news isn't too strong to support it all, maybe some people are afraid of ETF decisions that lead to rejection, whereas before prices start pumping back in public enthusiasm awaiting the first ETF's decision, don't expect more for ETFs, just focus on markets that might take time to return to bullrun.

[Lexurdania]

In past several months, bitcoin always got negative news and people panic with that news. Bitcoin had hard time in 2018 and not like 2017 when bitcoin price jump to highest price. But right now peoples realize that panic sell is unnecessary and holding bitcoin have more advantages

[Rhosadah]

maybe this has an impact on global economic issues, some countries are experiencing an economic crisis and weakening of currencies in some countries is the impact of the withdrawal of crypto community assets in countries affected by the economic crisis.

[joshuarose]

Many factors influence the decline in bitcoin prices ranging from hackers, bitcoin mining since 2013 and sites that provide bitcoin for free and also people who managed to buy a lot of bitcoin when the price of bitcoin is still $ 150- $ 300 and still and all that has just sold it now so it's quite difficult to restore bitcoin prices because it requires many new investors.

[justdimin]

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.

Sensitive time people are very alert. Unconscious rush leads to poor results. Need to create your habits to adapt to the market. The best way for the unprofessional, it should store it to wait more time to sell.

Well, like you said with unprofessional and reiterating on that, we all know there are a lot of unprofessional investors in the space who simply do not have any idea on how to go about investing in a market or not. This has made it so easy for manipulations to be a norm of the day as well anyway.

At least, for someone that is investing for the future and understands the importance the space brings, they will find it easy to HODL. The continuous plunge so far still balls down to the manipulations as well as a lot of weak hands in the market. It was expected after the last year's bull run anyway and we all know how it could not be sustained.

[Aramazdi]

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

it is a trick of trading by seeing a downward trend of big opportunities for large traders who will buy at low prices, and will definitely cause prices to rise again and big business people will get big profits. it is one of the ways traders control prices and play prices sometimes in an incorrect way.

[trecore4]

It is just blend of many things all together starting from the FUD creators news, to FOMO news and ending up with the current affairs like SEC decisions etc. These kind of news will coming in the future too and depending upon the intensity of the news whether it is more positive or negative one can say that the fluctuations will also occur in the similar ways only. Checkout any plunge in the past or present and you will see that the news is big influencer of this thing and thus may damage the bitcoin health badly. If you see such news then be prepared to catch the fish.

[Nila soru]

In past several months, bitcoin always got negative news and people panic with that news. Bitcoin had hard time in 2018 and not like 2017 when bitcoin price jump to highest price. But right now peoples realize that panic sell is unnecessary and holding bitcoin have more advantages

Asides the news, the plunge is just more of an aftermath of the crazy bullish rally that occurred throughout last year ending, and this is just more like a result of it. The news is just more like an added fuel to the fire that is already about to burn hugely anyway.

Panic selling is never necessary since the market will always recover eventually anyway, and I see no reason why anyone should be so worried about something that sure has a future.

[RonF]

Fiat currency typically falls in value about 5% a year or more.  I know friends father used to work for 25-cents per hour in the late 1930's, on which was enough to live - try doing that now.

No fiat currency has ever lasted more than several hundred years and often less.  This is a fact.  Check the history books for confirmation of this.

Hodl Bitcoin for several years, don't panic.  Bitcoin will far outpace any fiat money of any country.  Look at history if you need proof of how fiat currency always becomes worth zero if not made of gold or silver.

[bintangkejoraku]

Negative news and dump are the two most influential things with the decline in bitcoin prices. these two things are usually interrelated, if there is negative news there is a high probability that a dump will occur.

[fianaindriati]

Nowadays, too many people lose confidence in the cryptographic market, so they have withdrawn usd to invest in other fields, so the number of people leaving the market is quite high.

yes, the current condition is indeed experiencing it like that, because the current situation is getting lower, making that person's trust also decrease. so we don't blame people, because conditions are getting longer like this.

[OrangeSeller]

Bitcoin just like Forex react to either positive or negative news. Unfortunately, there hasn't been much positive this year and hence, the continuous downward price movement this year. Hopefully, the ETF will get approved, perhaps that would bring the much anticipated bull run.

I'm totally against Bitcoin ETF to be honest, its just open to market manipulation. Remember that you actually don't own the private keys, its the custodian who will make the trade on bitcoin. So who ever that custodian will be powerful and can totally manipulate the price on their favour.

Right, I remember when a lot of people were paying so much attention as well to futures market, and rather than looking at how it would have actually being about some huge number of manipulators in the space, too much focus was on it with respect to some people even calling moon most of this period.
I know ETF would bring about a lot of institutional investors into the space, but as you said, it would just make the space even more manipulated than it already is.