Why is Bitcoin Crashing?

[alyssa85]

$8,000 - $6,500 it's not a crash.

Forget about August 10, ETF was delayed.
Whatever drives this plummeting simply means that we're not yet in bull run.

Then what is it?
A normal adjustment? A small dip?  
It's a crash, stop trying to cover it in honey, it still stinks!!

It's just normal profit-taking. People are trading within a range - so when it gets to $6000 - $6300, it encounters a lot of buy orders. When it nears $8000 a lot of sell orders kick in.

As long as we don't dip below $6000 we're good. If we do dip below $6000 for more than a day, then we're in bear market territory.

[BitcoinNewbie15]

The ETF will be denied, i can guarantee you that 100%. With that BTC prices will plummet to new depths, probably around 2000-2500 range.
They will try to sell you the Lightning Network scam which could give a small recovery into the 4000 range but when that has been demonstrated to the public that it doesn't work we may see prices plummet to around 1000 or even below.

Why you ask? Because it is a scam.

Kwuck! Nice to see you here. Your new posts are massively different than what they used to be. Now you are talking about the price falling to $2000, which would still be 10x higher than back when you said the price will fall under $100. It's funny that now your doomsday predictions are about the price falling under $1000, when back in the day you said it would never hit that price again in the first place...

Everyone seems to be banking on the ETF decision and I'm pretty sure, disappointments would largely follow if the SEC decides to not approve the CBOE ETF.

Get rich quick noobs will be disappointed but people not wanting to see institutions get more exposure will celebrate a rejection.

There are a crapton of get rich quick newbies that joined in 2017. Thankfully, most of them are in garbage coins (99% in EOS lol). The ETF being delayed was a given IMO. The market definitely had a reaction though, but I thought it would only be like a $200 drop, not this much. Should be interesting these next few days, wonder if there will be a recovery...

[ajqjjj]

Bitcoin is not crashing because it is common fluctuation of Cryptocurrency. The current demand and supply is depends on Bitcoin value so once it will down automatically it will move to downward.
But after globalisation Bitcoin will never crash at anytime so this is the best time to invest on Bitcoin.

[wildflower18]

If we truly study the market cycle bitcoin price has been volatile. It is not crashing this cycle always happen before. Bitcoin will grow again so I believe it could occur this year ends.

[stompix]

~snip

It's just normal profit-taking. People are trading within a range - so when it gets to $6000 - $6300, it encounters a lot of buy orders. When it nears $8000 a lot of sell orders kick in.

As long as we don't dip below $6000 we're good. If we do dip below $6000 for more than a day, then we're in bear market territory.

What profit-taking is there selling at the almost lowest price for bitcoin this year?  
Profit taking happens at ATH, at ATL it is called cutting losses.

We've been going down from 8200 to 6200 and there was no sign of those buying orders as the whole volume is barely half of that from the crash (yeah going to use the crash term!) in March.

[Farma]

I think, the next thread has provided good information why the price of bitcoin is decreasing again at this time. Well, I think this is clearly very much related to ETF that refuse submissions. well, hope this crisis will end soon. Well, you can see the news on the CNCB site, or something else.

[Direwolve735]

The downward movement of bitcoin in late July and early August is related to news about the SEC's refusal to launch Bitcoin-ETF. In addition, the government of South Korea announced plans to amend the tax legislation, which will close a number of benefits for crypto exchanges. Given that South Korea has traditionally been the driver of the growth of the crypto-currency market, such changes have also hit the bitcoin rate.

[alo4521]

Main reason to Bitcoin crash is false rumors and according to my understanding Bitcoin is the only asset that shows huge price changes just based on unofficial information or rumors and due to that Bitcoin trading has been very difficult to do because people are selling or buying without a reason and I think the crashing is happening for the same way   

[AAKODI]

It is happening because most of investors trying to move from Bitcoin and also from the Crytpto industry because they are afraid that Bitcoin will no longer exist in the future considering these price decreases and some are moving to alternative coins thinking that they can get better profits than investing in Bitcoin 

[Teriyanone]

Bitcoin crashing is temporary and it occurred due to public concern that if Bitcoin continues in the future it will led to a financial crisis in the world by destroying the current banking system so countries like United states of America made huge impact on bitcoin and even went further to limit the user's in bitcoin locally so Bitcoin crashed   

[bengsabeng]

Bitcoin prices dropped because news about ETF was postponed until the end of September, the delay occurred 2 times. I hope there will be a decision that will make the price of bitcoin rise again.

[Bakemat]

Market manipulation is the main reason behind the bitcoin crash as, BTC market manipulation has been a highly contentious area that always arises when questioning Bitcoin’s price activity. Whether traders choose to accept it or not, evidence supplied by a University of Texas finance professor recently, along with investigations by the United States Justice Department the Commodity Futures Trading Commission, are beginning to prove that this ‘conspiracy theory’ actually exists in the market.

Market manipulation is considered as one of the reason why the price is dumping, because there are a lot of whales out and news who can make the price to pump or dump depending on how the investors is trading either based on their emotions or analytical skills about the market.

[the1arty]

The Bitcoin price as of now is dancing because of the ETF news. US SEC will announce it’s Bitcoin ETF decision on 10 August 2018. It is being said that, it might happen that SEC approves CBOE ETF on 10 August and if it happens, we can see a parabolic bull run in Bitcoin price. Until then, it may hover between $7600 to $9000. What do you think? Where is Bitcoin heading and what about the Altcoins and the rest of the Cryptos?

Well, we have good news all over. Like Chile will accept bitcoin in more than 5000 places, but SEC delayed the ETF decision until 30st September, which was likely to come and big whales used it as another reason to dump the market...

[samycoin]

The Bitcoin price as of now is dancing because of the ETF news. US SEC will announce it’s Bitcoin ETF decision on 10 August 2018. It is being said that, it might happen that SEC approves CBOE ETF on 10 August and if it happens, we can see a parabolic bull run in Bitcoin price. Until then, it may hover between $7600 to $9000. What do you think? Where is Bitcoin heading and what about the Altcoins and the rest of the Cryptos?

Well let's hope that this ETF will approved so we know if that news will be have a good impact in crypto market. Let's wait and see the decision of SEC so all will be forward. Bitcoin will not crash because of this maybe people is panicking that cause of dumping in the market.

[figmentofmyass]

~snip

It's just normal profit-taking. People are trading within a range - so when it gets to $6000 - $6300, it encounters a lot of buy orders. When it nears $8000 a lot of sell orders kick in.

As long as we don't dip below $6000 we're good. If we do dip below $6000 for more than a day, then we're in bear market territory.

What profit-taking is there selling at the almost lowest price for bitcoin this year?  
Profit taking happens at ATH, at ATL it is called cutting losses.

no, not at all. BTC has spent the vast majority of its trading history below this price level. this is not an ATL, lol!

anyone who is sitting on gains for the past 9 years has plenty of incentive to lock in some profits, once they realize the current bubble cycle is over and price could stay bearish for quite some time.

personally, i'm still hoping that $5000s is the bottom of the range, but it looks pretty ugly. i won't be surprised to see $3000 or lower.

[marcbitcoins]

We could say that this is a price manipulation by the big whales so that they could buy much cheaper Bitcoin before pumping it up again like a bullish run but this is only my speculation in which maybe most of the people are afraid to invest in Bitcoin anymore because of this year ugly market performance which is really not a good market sign for the investors.

[valentinen39]

We could say that this is a price manipulation by the big whales so that they could buy much cheaper Bitcoin before pumping it up again like a bullish run but this is only my speculation in which maybe most of the people are afraid to invest in Bitcoin anymore because of this year ugly market performance which is really not a good market sign for the investors.

In my own opinion, price manipulation will only occur if the government will be creating fake news in order to reduce the prices in the market but as of today, the market price is still decent and it will still grow due to the volatility of the market.

[ANUKRAMAYON]

Bitcoin crashing is temporary and it occurred due to the public concern that if Bitcoin continues in the future it will led to a financial crisis in the world by destroying the current banking system so countries like United states of America made huge impact on bitcoin and even went further to limit the user's in bitcoin locally so Bitcoin crashed

[CLAID]

Because most people who posses Bitcoin are leaving thinking Bitcoin will drop further and loose there money and that is happening not just for Bitcoin but for other currencies too and I think that is the main reason for the huge drop   

[batang_bitcoin]

Because most people who posses Bitcoin are leaving thinking Bitcoin will drop further and loose there money and that is happening not just for Bitcoin but for other currencies too and I think that is the main reason for the huge drop   

Leaving what? no people aren't leaving bitcoin. It's a normal correction where there are traders who took profit.

They won't leave bitcoin, as a matter of fact the bitcoin dominance has increased closely to 55% and that means people are buying more bitcoin, trading with bitcoin.