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Author Topic: Why Bitcoin Prices Down?  (Read 183 times)
Ketekantrasi
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July 10, 2018, 10:28:17 AM
 #1

Maybe you've all seen the price of BITCOIN that dropped dramatically now, I myself am observing some news / articles explaining bitcoin prices, there are a lot of articles explaining the bitcoin price reduction and also different explanation of the cause of bitcoin reduction, some say that the embezzlement, which explains that the sale of digital currencies by various trustees in the Japanese cryptocurrency exchange, Mt.Gox, is declared bankrupt and closes its business in 2014 after losing about 850,000 Bitcoin. Its founder, Mark Karpeles, who pleaded not guilty to accusations of embezzlement, and also because the big mafia who said that there is a big mafia that is playing, by selling all the bitcoin that has been obtained from the bitcoin scam website they had made last year, and also the price The falling XPY is now also the cause of bitcoin down, maybe what I hear is true, all the causes it may indeed affect the bitcoin price, if you have other explanation about bitcoin price ?, you can share your knowledge so that all know what really happened so bitcoin slumped.
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July 10, 2018, 10:47:25 AM
 #2

It had dropped below $6000 last week but the high of today was $6500 so I don't really think it's that shocking of a drop. Have a read of this blog which explains it in really good detail. Worth a read

https://baanx.com/3-things-which-could-be-catalyst-crypto-bounceback
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July 10, 2018, 11:58:38 AM
 #3

Maybe you've all seen the price of BITCOIN that dropped dramatically now,

dramatically? LMAO

why? it is the same thing as before:
1. Bancor was hacked. the hackers stole about $23.5 million worth of Ethereum
2. people started dumping Ethereum in their fear
3. ETH dropped "dramatically" (which is -15% in less than 12 hours)
4. the dump in altcoin market brought bitcoin down a little (which is about 4.5%) as the money usually exits through bitcoin when it is escaping from altcoins to fiat!!

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July 10, 2018, 12:14:50 PM
 #4

It is already down because we are in a bear market right now, And because of a sudden exchange that has been hacked the price that is $7000 USD and up crash to $5800 USD we are still in a process of regaining what is lost, I really think that there are people selling their bitcoin and exchanging with some other coin or there are a major panic in the community, And there are a lot of factors involve why the price is so down right now not just because we are in the midst of a bear market.














 

 

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1Referee
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July 10, 2018, 12:49:25 PM
 #5

Was there a reason for the price to jump up to $6800? Not really. Is there a reason for the price to fall down to $6350? Not really.

People should stop constantly caring about the fluctuations between $6000-$7000 because they are meaningless.

There is enough support to keep the price above $6000 for now, but at the same time enough selling pressure to keep the price below $7000 for now. Result is an obvious and firm range of $6000-$7000 that we just have to accept. One day we'll bump up a few hundred bucks, the the next day we fall a few hundred bucks, big deal. Roll Eyes

Oh boy, do I love Ethereum sink like a rock.  Cheesy

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July 10, 2018, 01:18:35 PM
 #6

It is a normal thing on this market for Bitcoin and other cryptocurrencies along with it fly up and fly down. It is just like waves (not the coin, lol) they are coming up and down. Be confident and courageous.

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July 10, 2018, 01:37:14 PM
 #7

There are various theories to explain why bitcoins price keep going down but non is consistent with the price of bitcoin bearish. The basic thing to consider with bitcoin prices down are the demand and supply, if the supply is more than demand, then the prices will be lower.

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July 10, 2018, 01:46:57 PM
 #8

It is already down because we are in a bear market right now, And because of a sudden exchange that has been hacked the price that is $7000 USD and up crash to $5800 USD we are still in a process of regaining what is lost, I really think that there are people selling their bitcoin and exchanging with some other coin or there are a major panic in the community, And there are a lot of factors involve why the price is so down right now not just because we are in the midst of a bear market.

it makes 0 sense that as a bitcoin holder, you would dump your bitcoins because some shitcoin (namely bancor/ethereum whatever the hell that is) is once again hacked. Who the fuck cares? as a bitcoin holder you aren't effected at all.

Then again I wouldn't be surprised about that. We are surrounded by a bunch of morons in this field. Too many easy triggered noobs holding a bunch of coins in coinbase. They need to be removed.
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July 10, 2018, 01:52:30 PM
 #9

Maybe you've all seen the price of BITCOIN that dropped dramatically now, I myself am observing some news / articles explaining bitcoin prices, there are a lot of articles explaining the bitcoin price reduction and also different explanation of the cause of bitcoin reduction, some say that the embezzlement, which explains that the sale of digital currencies by various trustees in the Japanese cryptocurrency exchange, Mt.Gox, is declared bankrupt and closes its business in 2014 after losing about 850,000 Bitcoin. Its founder, Mark Karpeles, who pleaded not guilty to accusations of embezzlement, and also because the big mafia who said that there is a big mafia that is playing, by selling all the bitcoin that has been obtained from the bitcoin scam website they had made last year, and also the price The falling XPY is now also the cause of bitcoin down, maybe what I hear is true, all the causes it may indeed affect the bitcoin price, if you have other explanation about bitcoin price ?, you can share your knowledge so that all know what really happened so bitcoin slumped.
These are indeed the factors that influence the decline in Bitcoin prices. We can not say that the decline in Bitcoin prices is only influenced by one thing. Because there are so many factors and elements that will affect the price of Bitcoin. This is a consequence that must be faced by everyone who has Bitcoin. The Bitcoin Price Decline is fully influenced by negative news that could reduce trust in Bitcoin, because public trust in Bitcoin will determine how Bitcoin develops in the future.

We just need to follow the course, the development of bitcoin is influenced by many people that the users of Bitcoin. So continue the level of use of Bitcoin Transactions because then the volume of transactions will increase and it is a very positive thing that can increase the price of Bitcoin with a stable.

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July 10, 2018, 02:13:42 PM
 #10

these exchange hacks are the best things that can happen to us. it is teaching the newcomers not to trust exchanges, more like reminding everyone. and also it is cleaning the market from the weak hands and on top of all that it is bursting the altcoin bubbles since each time the altcoins get dumped hard.

i also agree that this fall is an altcoin-induced fall. and you can clearly see it on the rate that altcoins (more importantly ETH that was hacked) is falling compared to the rate and size that bitcoin has been during the same time frame.

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July 10, 2018, 03:13:54 PM
 #11

Investors' confidence is obviously low, and most venture capital funds have withdrawn from the BTC market. The previous price has increased a lot, which is the reason why the BTC price fell.
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July 10, 2018, 03:30:21 PM
 #12

these exchange hacks are the best things that can happen to us. it is teaching the newcomers not to trust exchanges, more like reminding everyone. and also it is cleaning the market from the weak hands and on top of all that it is bursting the altcoin bubbles since each time the altcoins get dumped hard.

i also agree that this fall is an altcoin-induced fall. and you can clearly see it on the rate that altcoins (more importantly ETH that was hacked) is falling compared to the rate and size that bitcoin has been during the same time frame.
I see both bitcoin and the ethereum is falling at the same rate but I still can't find the reason behind the fall of the prices when there is a bump happening with the crypto market it comes along with the serious dump which is likely to be followed since the price fall starts from $20K

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July 10, 2018, 03:45:50 PM
 #13

Maybe you've all seen the price of BITCOIN that dropped dramatically now, I myself am observing some news / articles explaining bitcoin prices, there are a lot of articles explaining the bitcoin price reduction and also different explanation of the cause of bitcoin reduction, some say that the embezzlement, which explains that the sale of digital currencies by various trustees in the Japanese cryptocurrency exchange, Mt.Gox, is declared bankrupt and closes its business in 2014 after losing about 850,000 Bitcoin. Its founder, Mark Karpeles, who pleaded not guilty to accusations of embezzlement, and also because the big mafia who said that there is a big mafia that is playing, by selling all the bitcoin that has been obtained from the bitcoin scam website they had made last year, and also the price The falling XPY is now also the cause of bitcoin down, maybe what I hear is true, all the causes it may indeed affect the bitcoin price, if you have other explanation about bitcoin price ?, you can share your knowledge so that all know what really happened so bitcoin slumped.
The cause is a surge of uncertainty over weeks and advertising bans by technology companies.
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July 10, 2018, 03:49:23 PM
 #14

these exchange hacks are the best things that can happen to us. it is teaching the newcomers not to trust exchanges, more like reminding everyone. and also it is cleaning the market from the weak hands and on top of all that it is bursting the altcoin bubbles since each time the altcoins get dumped hard.

i also agree that this fall is an altcoin-induced fall. and you can clearly see it on the rate that altcoins (more importantly ETH that was hacked) is falling compared to the rate and size that bitcoin has been during the same time frame.
I see both bitcoin and the ethereum is falling at the same rate but I still can't find the reason behind the fall of the prices when there is a bump happening with the crypto market it comes along with the serious dump which is likely to be followed since the price fall starts from $20K

ETH wen down from $486 to $434 which is a %10.6 drop
while bitcoin went down from $6710 to $6370 which is a 4.9% drop how are these two the same rate?

the reason as it was mentioned earlier is the panic sell due to some new exchange called Bancor being hacked. 90% of the people selling have never even heard of this exchange before. and they stole ETH from them which is another reason why ETH is falling faster. here is their twitter: https://twitter.com/Bancor

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July 10, 2018, 03:53:07 PM
 #15

Don't worry about this sudden  drop pal  everything will be fine soon, just keep believing it will  bounce back again , and probably it will not go further because it's just a hack scenario from other country which always happened., so perhaps  it will continue to stay above this current price until it gain enough strength again to pump, so don't panic.
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July 10, 2018, 04:16:43 PM
 #16

these exchange hacks are the best things that can happen to us. it is teaching the newcomers not to trust exchanges, more like reminding everyone. and also it is cleaning the market from the weak hands and on top of all that it is bursting the altcoin bubbles since each time the altcoins get dumped hard.

i also agree that this fall is an altcoin-induced fall. and you can clearly see it on the rate that altcoins (more importantly ETH that was hacked) is falling compared to the rate and size that bitcoin has been during the same time frame.


But I don't really understand why there was a Bitcoin drop. Please, what has Bancor getting hacked having to do with Bitcoin, at all? was Bancor holding any bitcoins? Not to my knowledge. The only funds reported to be hacked were $13 million worth of Ethereum and some other altcoin I have no idea about (PunditX or something like that).

This is very cyclical. Anyone that has been here for a while deals with so called exchange hacks as just opportunities to buy the dip.

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July 10, 2018, 04:31:09 PM
 #17

It's too late to ask such a thing because the drastic decline and bear market has been going on for so long in the last few months, this is because of the massive sale where Bitcoin's supply is so available, the panic that has caused so much news spread across all media that causes FUD to new people, hacking everywhere is a very chaotic situation, but it was, now is to return better, all the risk is inevitable.

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July 10, 2018, 04:37:16 PM
 #18

Bitcoin is crashing! $6800 psychological resistance, will test the low again, meanwhile already dropped 6% so the big money is not ready. Need big buying volume that may leads bounce back again, which didn't happen.

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July 10, 2018, 04:45:40 PM
 #19

Bitcoin is crashing! $6800 psychological resistance, will test the low again, meanwhile already dropped 6% so the big money is not ready. Need big buying volume that may leads bounce back again, which didn't happen.
I wonders who will risk their money in a big scale like which can help the price to bounce back from the price crashes other than whales.But the combination of small and legit investors can make it buy continuous holding through all the way just start it from yourself now and it can help the bitcoin to recover faster.

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July 11, 2018, 08:43:00 AM
 #20

these exchange hacks are the best things that can happen to us. it is teaching the newcomers not to trust exchanges, more like reminding everyone. and also it is cleaning the market from the weak hands and on top of all that it is bursting the altcoin bubbles since each time the altcoins get dumped hard.

i also agree that this fall is an altcoin-induced fall. and you can clearly see it on the rate that altcoins (more importantly ETH that was hacked) is falling compared to the rate and size that bitcoin has been during the same time frame.


But I don't really understand why there was a Bitcoin drop. Please, what has Bancor getting hacked having to do with Bitcoin, at all? was Bancor holding any bitcoins? Not to my knowledge. The only funds reported to be hacked were $13 million worth of Ethereum and some other altcoin I have no idea about (PunditX or something like that).

This is very cyclical. Anyone that has been here for a while deals with so called exchange hacks as just opportunities to buy the dip.

well it doesn't really have to do anything with bitcoin to cause a panic sell. we have seen many cases of things like this when for example Facebook banned the ICO scamfest on their platform and people panic sold bitcoin!!!

although there is another connection that is just a speculation mostly that i also agree with that says whenever people are dumping altcoins they do it to go back to fiat and they do it on altcoin exchanges that don't have any fiat market so they sell their altcoin (eg ETH) for bitcoin then transfer it to their bitcoin exchange and sell it for fiat and that pushed bitcoin price down.

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