Why again the prices were falling?

[Maricel2017]

I think the big reason that I see why the price still falling its because of continues panic selling after the twice rejection of Bitcoin ETF and remember the price was increased from $6k value to $8 it's because of the bitcoin ETF and now, to those who invested on bitcoin when the price at the $8k value are starting to cut their losses before the price fall back to $6k this is why the price still fall.

The other reason I think is the price correction according to the news but I don't really think this is the main reason but for me the real reason behind the price drop is bitcoin ETF rejection.

Agree that panic sellers help to increase the dropping percentage of the value of bitcoin only few people are helping to increase the demand that is why we experiencing the falling of bitcoin value again. Hoping that panic people will learn how to be patience specially for those investors who are having small amount of bitcoin hold learn how to wait to earn not to loss.

[tomahawk9]

but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?

You gave in to FOMO (rookie mistake) and on top of that you thought a bull run was bound to happen...why? Remember that just because there's a massive increase in the price doesn't mean that the upward movement will keep going until it triggers a bull run (btw, we might not see a real bull run like the one from last year in a very long time).

No one can tell you the exact reason behind the drop, but we can speculate and I'd say it's because of decline of the Bitcoin ETF hype, some people say the chances of it getting delayed (yet again) are very high, some others thing that a potential approval won't be enough to trigger a massive upward movement which definitly increases a bearish sentiment in the short-term, so the combination of speculations, rumours, and news are probably the reason for the dip in the price over the past few days.

"when it will be on the upward track?", could be once the news of Bitcoin ETF comes out, obviously, we'll have to wait for positive news. Or we could hope for the bulls to trigger another rally out of nowhere and with enough momentum we should test the 8.5k level again.

Also, its more like a sheep following the other sheep kind of deal, when someone goes up the others follow and when they go right everyone follows, so when market goes up everyone buys, when market goes down everyone sells, no one really just waits it out aside from couple of few people.

Typical human behaviour in this market. When there's a sudden drop (or spike) in the price, most of the people assume everyone else is panic selling (or fomo buying), so the Herd mentality kicks in.

[Farma]

I think this is a difficult year for cryptocurrency. we know that the price is really very far compared to 2017. well, even the assets that I hold also have a drastic decline, even more than 50%. well, so many causes of this happen, I just hope that this year will make crypto prices rise again.

[harizen]

It is not just 8% it is more than 10% so we can't consider this as normal fluctuation there maybe some reason behind it,that is what I want to found out.As others saying the ETF approval and the rejection may caused these so we will go back to $6000 that is what the price we had month before.

Anyways there is no exact reason for this price decrease. Removed that ETF thing as one of the main reasons because it's not. Maybe at small percentage but the rejection just stopped the bull hype. Also how come we will know the purpose of those whales why they sold "if ever". There's no proof we can take that they really dumped.

It is not easy to watch how price is going down without any logical explanation..

There are events in the past or even recently wherein price is going down without such "exact" logical explanation.

I stated a statement like that to changed the mindset of the OP that's it's not all about ETF rejection or whales are dumping. There are lots of factors that can be associated with this price decrease. OP is worried because he did bought during the start of "bull run" thoughts on which Im assume he did his buying at $8,000 or the highest price it reached last week or so.

Regarding ETF rejection, it was one from Winklevoss twins which actually did not have the chance, but the ETF from CBOE/VanEck SolidX Bitcoin Trust is still under SEC consideration. So it is wrong to think that price is going down because of that irrelevant rejected ETF, there is some chance that SEC accept ETF this month or to postpone the decision for September or December of this year.

OP must take note of this.

[Findingnemo]

It is not just 8% it is more than 10% so we can't consider this as normal fluctuation there maybe some reason behind it,that is what I want to found out.As others saying the ETF approval and the rejection may caused these so we will go back to $6000 that is what the price we had month before.

Anyways there is no exact reason for this price decrease. Removed that ETF thing as one of the main reasons because it's not. Maybe at small percentage but the rejection just stopped the bull hype. Also how come we will know the purpose of those whales why they sold "if ever". There's no proof we can take that they really dumped.

It is not easy to watch how price is going down without any logical explanation..

There are events in the past or even recently wherein price is going down without such "exact" logical explanation.

I stated a statement like that to changed the mindset of the OP that's it's not all about ETF rejection or whales are dumping. There are lots of factors that can be associated with this price decrease. OP is worried because he did bought during the start of "bull run" thoughts on which Im assume he did his buying at $8,000 or the highest price it reached last week or so.

Regarding ETF rejection, it was one from Winklevoss twins which actually did not have the chance, but the ETF from CBOE/VanEck SolidX Bitcoin Trust is still under SEC consideration. So it is wrong to think that price is going down because of that irrelevant rejected ETF, there is some chance that SEC accept ETF this month or to postpone the decision for September or December of this year.

OP must take note of this.

Noted.

I am not a panic seller who just buy when the price ump and sells when the price dumps,I did some homewok before buying that coins but I was wrong little bit,now I am looking to cut of my loss in some way or just wait for the few days until the ETF approval by CBOE which may has impact on the prices of bitcoin as well,as far now I am just holding since I can see that the prices almost cruising at $7500.

[ngusmin]

Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?

It's hard to find the reason why bitcoin falls, but it's obvious the market is very weak and the confidence in the market is getting weaker. In this year such patience is being tested, can we survive to benefit from bitcoin or not at all.

[mostkey]

Not ready for new people who throw away with some less harmful issues the effect, trust is needed in this situation, everyone to keep their money safe, and it is so good that no loss, all that must be done is to wait until the price is cheap and always believes that the market will soon recover probably next year with all the improvements in the situation that happened this year, can be said a year that is not very good, but will trust the good development.

[Slow death]

Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.

you should not worry about the price drop, think that you are making a long-term investment. Cryptos are long-term investments

Anyone know the reason why the prices were falling and when it will be on the upward track?

probably because many people bought when the price was $7000 and realizing that the price has risen to  $8500 and does not appear to be raising more than  $8500 so these people have sold their currencies and will return to buy in the  $7000 and will hold to see If the ETF will be approved or will not approved. This is already something systematic

[richardsNY]

It's hard to find the reason why bitcoin falls, but it's obvious the market is very weak and the confidence in the market is getting weaker.

I think people should stop looking for reasons and accept that the demand is gone. If it wasn't the ETF speculation somewhat holding the price up we would be testing newer lows already, and we might still. Instead of focusing on price increases start focusing on spending Bitcoin and using it for a wide variety of other things. Less speculation helps keeping the fees low and should incentivize people transact more. That being said, I'm probably talking to a wall and no one will bother to pay attention anyway since people's hope for a bull run remains relatively strong and won't vanish unless we start tanking....

[Findingnemo]

It's hard to find the reason why bitcoin falls, but it's obvious the market is very weak and the confidence in the market is getting weaker.

I think people should stop looking for reasons and accept that the demand is gone. If it wasn't the ETF speculation somewhat holding the price up we would be testing newer lows already, and we might still. Instead of focusing on price increases start focusing on spending Bitcoin and using it for a wide variety of other things. Less speculation helps keeping the fees low and should incentivize people transact more. That being said, I'm probably talking to a wall and no one will bother to pay attention anyway since people's hope for a bull run remains relatively strong and won't vanish unless we start tanking....

I too hope that bitcoin will be used for what it meant for but for now it is most considered as an asset or an investment over currency purely because of the speculations.Everybody knows that we can make money from speculating the bitcoins so they won't leave opportunities to make money with it,since humans were the most greediest animal on the earth.I am not the active trader I just wan to minimize the loss in some way because I bought some of it at more higher prices.

[kryptqnick]

I understand the risk factor involved here,but I couldn't find the proper reason whey the prices were falling,because of ETF's rejection? Or dump by the whales to make some quick money.Anyway this is not a big fall though but I am worrying that the prices will again go to $6K range.

It is probably the rejection of ETF indeed, because the idea of it getting approved created a lot of hype around the market, pushing the prices up. Current drop is a bit more that 10%, which is actually not that bad. Another drop like this, however, will bring us closer to $6k than to $7k and if any serious-looking fud appears these days, it can do the trick. It is okay for the market to be unstable, we should just get used to it and let it take its time before recovering. This time is when the market cleans itself from non-believers who invested just 'cause btc became popular at the end of 2017. I like how this video explores why eventually things will go back to awesome: https://www.youtube.com/watch?v=_bNFtjajfoo.

[cellard]

There are going to be up to 4 more ETF's that the SEC will be reviewed through august 16th and march 4th 2019. This means that we are going to keep having these up and downs that easily trigger noobs and speculators into juggling with the Bitcoin price. Of course 90% of them will lose money long term compared to just holding the BTC and not caring about these pump and dumps.

Eventually one of the ETFs will pass against all odds and then everyone that sold will not be able to sleep at night for years because they will miss on a massive pump. So just ignore the government scams and hold your damn BTC, it's all that matters. Think about the long term and understand futures and ETFs are not a fundamental part of Bitcoin.

[favelle75]

This is not a price correction.
It is still going down on its way and will go further down. 2018 not bitcoin year. and we are all sad for this situation.
I hope it will raise after 2019 i closed this year with a huge loss

[St4yInTh3D4rk]

There are going to be up to 4 more ETF's that the SEC will be reviewed through august 16th and march 4th 2019. This means that we are going to keep having these up and downs that easily trigger noobs and speculators into juggling with the Bitcoin price. Of course 90% of them will lose money long term compared to just holding the BTC and not caring about these pump and dumps.

Eventually one of the ETFs will pass against all odds and then everyone that sold will not be able to sleep at night for years because they will miss on a massive pump. So just ignore the government scams and hold your damn BTC, it's all that matters. Think about the long term and understand futures and ETFs are not a fundamental part of Bitcoin.

August 16 is another bigday in the crypto field,if it gets approval we may see a huge bump.But for now the prices were falling too much and it may reach $6000 again in few days and we will get another bump a week before August 16 so be cool and buy few more bitcoins even cheaper if you are a long term holder.

[laracastvue]

I think the big reason that I see why the price still falling its because of continues panic selling after the twice rejection of Bitcoin ETF and remember the price was increased from $6k value to $8 it's because of the bitcoin ETF and now, to those who invested on bitcoin when the price at the $8k value are starting to cut their losses before the price fall back to $6k this is why the price still fall.

The other reason I think is the price correction according to the news but I don't really think this is the main reason but for me the real reason behind the price drop is bitcoin ETF rejection.

Agree that panic sellers help to increase the dropping percentage of the value of bitcoin only few people are helping to increase the demand that is why we experiencing the falling of bitcoin value again. Hoping that panic people will learn how to be patience specially for those investors who are having small amount of bitcoin hold learn how to wait to earn not to loss.

Panic sellers is one of the biggest contributor for the price to dump because they are not well knowledgeable about how the market works and that is the reason they lose their investments.

[Clark05]

Bitcoin price will back again to 8k dollars and the better we do now is to buy more bitcoin now and hold it until bitcoin pump again. Price are falling because of the panic seller and the negtive news about the bitcoin that can cause problems to the future investor.

[Shinpako09]

Currently the price of bitcoin is at $7358 and it almost fell $1000 in 72 hours,I thought this price fall is just normal at the beginning but now little worrying because I bought few bitcoin when the price bump in the thought that bull run has started.Anyone know the reason why the prices were falling and when it will be on the upward track?

You just said it, "it's normal". Also, there's nothing to worry about. Why worried if you believe that btc will have a bull run soon. You bought when the price is bump? It's actually your fault, you don't know the right timing. Again, there's nothing to worry, you won't lost any as long as you won't sell. Just hold it and wait for rise.

[pooya87]

I think the big reason that I see why the price still falling its because of continues panic selling after the twice rejection of Bitcoin ETF and remember the price was increased from $6k value to $8 it's because of the bitcoin ETF and now, to those who invested on bitcoin when the price at the $8k value are starting to cut their losses before the price fall back to $6k this is why the price still fall.

The other reason I think is the price correction according to the news but I don't really think this is the main reason but for me the real reason behind the price drop is bitcoin ETF rejection.

Agree that panic sellers help to increase the dropping percentage of the value of bitcoin only few people are helping to increase the demand that is why we experiencing the falling of bitcoin value again. Hoping that panic people will learn how to be patience specially for those investors who are having small amount of bitcoin hold learn how to wait to earn not to loss.

Panic sellers is one of the biggest contributor for the price to dump because they are not well knowledgeable about how the market works and that is the reason they lose their investments.

but was it really panic sellers this time? it doesn't look like it to me to be honest. usually when we talk about panic sellers the hourly charts look different. it starts with a big dump then followed by the drop which takes longer than this. right now the charts look like only 2 big red bars decreased the price from $8k to $6.9k in two steps! which is more like somebody dumped into the market.

[andohyeb]

As the price started climbing to 8000$ many investors would have rushed back to purchase thinking it will be heading to 10,000 and over. But the declined of the price made traders panic and start to sell to incur small loss.

[sulendra12]

It's a downtrend for Bitcoin like many people speculating Bitcoin would be rise up after had been dumped for long time. Yet, bad news always continuing against Bitcoin like exchanges getting hacked and such that makes the price of Bitcoin become lower. I hope we would see something bigger at the end of 2018.