Crypto falls to lowest price since February – Why is BTC falling?

[skeletica]

many factors influence the fall of bitcoin prices, I can't find a definite reason for this. so much speculation done by many people.

[arc67583]

Bitcoins price dropped sharply and not just in Bitcoin but in other currencies too but due to many negative effects it had to face from the world and I think other than that there is nothing wrong with Bitcoin as a currency and some say that Bitcoin speed was an issue behind this market crash but I don't think it was impacted badly on Bitcoin than above mentioned reason but we should understand the world understanding towards Bitcoin is changing so we can see many industries and businesses are trying to connect Bitcoin with there core business processes and that can give a good place in the near future to increase it's price and expand more in the globe     

[GilbertQuintanilla]

Reason behind the fall of crypto I think the ban of crypto from Google and also China ban and there are also many reason behind the fall.

[daarul50]

the key is bitcoin, because bitcoin is the mother of all crypto. when bitcoin goes down, the price of all crypto will drop. it is true, that the price of btc from Februaru continues to decline and does not show a graph of an increase. the reason for that is, whales who sell their btc in large volumes so that the crypto market becomes unstable because the selling volume suddenly rises.

In addition to the above reasons, the decline that occurred since February was also influenced by the confidence of investors and traders that declined so they avoided investing in bitcoin. Besides that, too, there is a lot of bad news about cryptocurrency in the world that exacerbates trust in bitcoin as a digital asset to invest both in the short and long term.

[dewildance]

The crypto-money world, which has already had difficult days, was unfortunately shaken by this hacking news. I hope it was end.

[kamoto]

Bitcoin is now specifically pulled down. There is very strong growth down, pressure from news sources. This is the goal ... there are people who benefit that at the moment the price was low. Then there will be a big increase ... this wave process has been going on more than once and will be repeated further.

[BestBoardroom36]

It is right that crypto has fallen to lowest price and I think it is the worst day of crypto currency and there are a lot of reasons behind this downfall among them hacking and scamming is the best reason i think.

[Magkirap]

BITCOIN has suffered its worst day since February as the price tumbled, prompting fresh fears about the long-term viability of cryptocurrencies. So why is BTC falling?



In December, the crypto reached a record high of $19,511 (£14,588), the culmination of the hype over the alternatives to traditional currencies. Today, the price of BTC dropped as low as $6,498 (£4,858).
This brings the downward slide for the year to more than 50 percent already.

Why is BTC falling?

Experts are citing various reasons for the massive drop in BTC’s value this year.
There are the issues of regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry. However, bitcoin and other cryptocurrencies have seen a sharp drop since South Korean cryptocurrency exchange Coinrail was hacked over the weekend. Coinrail, which is thought to have lost around £28m in the cyber attack, tweeted to confirm the hack on Sunday.

Shortly after, bitcoin saw its value tumbling by 10%. This latest attack highlights the lack of cybersecurity and weak global regulations of crypto markets. Coinrail said in a statement that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30 percent of the coins traded on the exchange.

The statement added: “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]."



“Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies," the statement continues.

“For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.”

Korean police have begun an investigation into the incident. Bitcoin has been further hurt by damning reviews from industry leaders.

Bill Gates, Berkshire Hathaway's Warren Buffett and JP Morgan chief executive Jamie Dimon, expressed their scepticism of Bitcoin and cryptocurrencies again last week.

Warren Buffet has called BTC “probably rat poison squared.”

A few big names, such as  Twitter's Jack Dorsey and Apple co-founder Steve Wozniak, have thrown their weight behind crypto, but supporters from the finance world are a rarity right now.

In May, the crypto sector found itself under increasing government scrutiny when the US Justice Department opened a criminal probe into illegal trading practices that can manipulate the price of Bitcoin and other digital currencies.

Courtesy: www.express.co.uk

Maybe there is a specific reason about this, but bitcoin is keep on falling down. It hard to determine when it will rise and many people used to panic selling. Many of us thinks that this will be the end of bitcoin. I just hope that bitcoin can easily recover in the next few months

[Ruffian1314]

This is a good article that stating some reasons why the bitcoin is falling. I agree to this but we cannot sure what will happen in the future because I still believe in bitcoin that it will recover soon and will reach again its ATH. Let's all hope that bitcoin price will rise again.

[euronine897]

Bitcoin falling is temporary situation but it is a major scenario that has scared even top crypto currency investors and countries like USA, India keep fueling the situation ignoring the bad effect on investors and the beneficial side of Bitcoin and for the positive side significant businesses in various areas trying to implement Bitcoin with there core business processes because tech experts know digital currency is something extraordinary when compared to fiat paper currencies so doesn't matter what the world thinks now the future will definitely welcome Bitcoin with open hand           

[Naginiya]

BITCOIN has suffered its worst day since February as the price tumbled, prompting fresh fears about the long-term viability of cryptocurrencies. So why is BTC falling?



In December, the crypto reached a record high of $19,511 (£14,588), the culmination of the hype over the alternatives to traditional currencies. Today, the price of BTC dropped as low as $6,498 (£4,858).
This brings the downward slide for the year to more than 50 percent already.

Why is BTC falling?

Experts are citing various reasons for the massive drop in BTC’s value this year.
There are the issues of regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry. However, bitcoin and other cryptocurrencies have seen a sharp drop since South Korean cryptocurrency exchange Coinrail was hacked over the weekend. Coinrail, which is thought to have lost around £28m in the cyber attack, tweeted to confirm the hack on Sunday.

Shortly after, bitcoin saw its value tumbling by 10%. This latest attack highlights the lack of cybersecurity and weak global regulations of crypto markets. Coinrail said in a statement that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30 percent of the coins traded on the exchange.

The statement added: “Seventy percent of total coin and token reserves have been confirmed to be safely stored and moved to a cold wallet [not connected to the internet]."



“Two-thirds of stolen cryptocurrencies were withdrawn or frozen in partnership with related exchanges and coin companies," the statement continues.

“For the rest, we are looking into it with an investigative agency, related exchanges and coin developers.”

Korean police have begun an investigation into the incident. Bitcoin has been further hurt by damning reviews from industry leaders.

Bill Gates, Berkshire Hathaway's Warren Buffett and JP Morgan chief executive Jamie Dimon, expressed their scepticism of Bitcoin and cryptocurrencies again last week.

Warren Buffet has called BTC “probably rat poison squared.”

A few big names, such as  Twitter's Jack Dorsey and Apple co-founder Steve Wozniak, have thrown their weight behind crypto, but supporters from the finance world are a rarity right now.

In May, the crypto sector found itself under increasing government scrutiny when the US Justice Department opened a criminal probe into illegal trading practices that can manipulate the price of Bitcoin and other digital currencies.

Courtesy: www.express.co.uk

Most of the time Bitcoin falls due to panic sellers because new comers who are holding Bitcoin tends to sell there posses tokens even for silly rumor or news that comes through media which effects the entire market directly or indirectly and with the price fall many follow the same thing without thinking twice because today investors are not confidence like before about the Bitcoin future and its future existence 

[Cool1]

Panic is sure to exist, because the price of bitcoin has dropped, but I'm sure bitcoin will rise again, the price of bitcoin has dropped because of the declining public demand and some countries that prohibit using bitcoin.

[Kakmakr]

I also smile when they refer to some kind of experts, saying this or that. Experts in what? Definitely not Crypto currencies.   If they were Crypto currency experts, they would have known that Bitcoin exchanges are not Bitcoin. <Bitcoin exchanges are not using the Bitcoin code, but rather some software that was developed by someone other than the Bitcoin Core developers>

The security flaws in exchange software cannot be attributed to "poor" security in Bitcoin code.  

Also, comments being made by Bill Gates and Warren Buffet on Crypto currency, is of little use, because their combined knowledge on Crypto currencies are on par with the average "newbie" in Crypto currencies.   <They might know a bit about the concept, but lack the detailed knowledge to make an expert opinion.>  

[ngano ba]

As we know bitcoin is in the leader board of the coin market cap, if this will be hit by this bear market season of red price value ,then no coin is exempted with the price falldown ,and that is why is cryptos are in price falldown then ,bitcoin price also will fell ,for bitcoin is the referrence coin of the market.

[RomanPetrush]

These numbers are very sad. We have to be strong and find new job . Huge manipulations, very interesting time. BTC create history news almost every month.

[CLAID]

I think even few drops occurred in some occasions Now Bitcoin is recovering and getting stronger but slowly and I think it will never fall again like we saw in past couple of years because those days are over and people believes about crypto currencies and there existence is changing for better and that is why even many countries have open minds about digital currencies and there use in the local market   

[Madara_Uchiha]

I think whales manipulate the market, so the market falls down.

[LastHope99]

I think whales manipulate the market, so the market falls down.

+ whales push people to sell on panic. Well, it's quite possible we're now somewhere near the bottom. At least if btc won't go outside the uptrend that it's in now.

[Sithawaka]

Bitcoin prices are falling due to lack of involvement with the current financial and trading areas in the world which was difficult than most anticipated because still digital currency is a new concept to the world so there was a price fall but I don't think that is something any trader should worry about because we saw how bitcoin felt even low during last couple years but it got its price back and after that even most thought the price will rise to the last peak level withing few years we see bitcoin takes too much time than we thought but with its current progress in the business and financial sectors I hope it will gain the speed back and increase its price

[CeyCrypteon]

 Some entrepreneurs say several reasons about why bitcoin price felt and why investors should not invest in bitcoin because it doesn't give any output but as traders and investors we know what kind of good things it has done to us during out trading journey so I think what bitcoin need is some positive truth how it can move in the future with other currencies and assets by helping the international transactions but that kind of positive news are absent in many places in the internet.