what are the causes of the continuous plunge in Bitcoin?

[Dudeperfect]

As we all know that, the price rally in the last quarter of last year was a result of the involvement of big whales and institutional investors but when they decided to exit, it created a panic selling pave and that ultimately resulted in the correction of 65%. However, I am expecting a recovery in the coming months and we will see a fresh all-time high level soon, no doubt the big whales and institutional investors would try to take the benefit of this upcoming momentum.

[el kaka22]

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.

First of all is the short futures and long futures.
Well, longs are not the problem but the shorts are, I have seen a number that stated 53% of futures sold was shorts recently which means more people believe in bitcoin going low so much that they are willing to bet on leveraged numbers to get shorts.

Do you think bitcoin can succeed and go high and increase in price when the people that uses bitcoin mostly believe that bitcoin will go down and want to try and profit from this drop ? We will not be going anywhere high until the people stop investing into shorting and start investing on long term increase. Otherwise we will just be around these numbers.

[justdimin]

The market most follow the way it went up down and of a truth we have to prepare for this. Last year we were saying why is the market going up the way is doing and many were saying then that we should expect a fall.

the current market downturn is quite serious but I am optimistic this will rise. crypto prices fell dominated by many new ICOs that became scams and many investors were afraid to invest in crypto, as well as the resolution of ETFs that made crypto prices more volatile

There is nothing serious much about the downtrend, it is a normal thing, it is a very healthy correction and it is only a chance for those who are smart enough to take advantage of a lower price to get in, something that it is quite unfortunate as a lot of people tend not to always take advantage of which makes only few smart ones available in the space.

People whine everyday as if plunges in price is always a problem, but in reality and for a market not to experience plunges like this, we have to clamor for real life usage, as this is the only way we will be able to get some little balance, but as long as the market can go up in percentage within few hours, that is the same way it can come back down.

[fullhdpixel]

The crypto market is not a regulated financial market, there is no limit to the decline and rise. The crypto market works 24 hours a day, no specific session hours. Manipulation and FUD are endless. In this case, I am not looking for a specific reason for the fluctuations to be large.

Fluctuations will always be large, as there is absolutely no two ways about that. This is a market that actually have decentralization written all over it, and that makes it easy for the whales to always make the market dance to their tunes every single time, unless of course we start seeing the centralized exchanges being regulated, but at the end of the day, this is where decentralized exchanges come in.

Even though, liquidity wise, centralized exchanges will still always end up having it. Plunge and fluctuation is a normal thing for any market, it is only the level of volatility when it comes to each market that differs but not like it would be like that forever.

[Pattart]

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.

The major factor that I can pinpoint here is more or less like that weak investor factor where a lot of people were trying to get rich overnight, the price skyrocketed with no basis except for everyone trying to get greedy and before you know it, things started changing as the whales dump on the market, little negative news starts driving weak hands out of the market even at loss and then we just are trying to find a bottom now.
Market that is driven based on speculations will always act this way.

Yeah that is the drama that usually happens in the crypto market from pump to dump, we know how it happened? how frantic hands with
cheap news and speculation make them panic, so we as traders must remain ready and not late in making decisions..

[darewaller]

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.

Some people were predicting that increase that came on May, but they were not correct cause they claimed it’s going to take the price to around $15,000 dollars but it wasn’t able to cross $10,000 that month or was it $11,000, can’t remember.

This last months are going to be a lot of different, a lot of investors are likely to come back. People believe there is going to be a pump soon and the price has been increasing little.