Reasons behind Bitcoin/Cryptomarket fall???

[hidden_legend]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???


****Note(02/09/2018):- Hi Friends,
Thanks for the discussion.I just want to clear few points that I never call Bitcoin a scam.I am just highlighting a news published in a top most news paper of my country.Bitcoin is used to scam people by BitConnect.Latest update about this scam is much more money involved.
From that news following points came into light:

1) A big chunk of money disappear from market because scammer run with that money.
2) The investors who already invested never think or maybe hesitate to invest again.New investors if came across this news try to avoid this market.
3) Because of these kinds of scams RBI and Govt. of India try to restrict transactions related this market which intern affect this market.
I read same kind of scam cases came into light from different countries like Indonesia, Malaysia,Thailand, Japan, Canada UK etc....

I also read a news that many prominent crypto exchanges and crypto personalities joining hands to ride out these kind of scams.I hope they will succeed in their mission.

More over this post is not to panic any one but to discuss and spread awareness about this new market.

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[akosijue]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

I'm not that knowledgeable about those scams or whatever you found or out there that proves to be but I read somewhere that a lot of companies have gone to investing in bitcoin that is why bitcoin rose suddenly a month ago by +$700-$800 than the price now. As for my opinion of the continuous declining of bitcoin price, may be because those companies that invested decided to back out because they got some profit or they needed the funds or something similar. But these are only my opinion, I may be wrong and I'm open to any other opinions.

[MirzaofDaska]

 marked 5 reasons for that:
Tax Season
Potential Regulation
Mt. Gox Weight
China’s Relation to Cryptocurrencies
Google’s (as well as other social media) ban on Cryptocurrency

[daoquanghuan]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

bitcoin and other crypto must be scams everyone knows it. The reason for the market decline is that it has increased too much by the end of 2017 so the correction is indispensable. This has happened many times before and after each such it grows stronger. This time it is no exception that it will recover and grow strongly in the future

[bennypagulayan]

I can hardly believe the news that people give, there is so much information that I can not know the news is reliable, so I always hold my BTC until the price increases again.

[Stedsm]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Neither scam nor speculation, I believe that after ETFs are approved (ever), Bitcoins will be dominating the whole market at an extremely out-of-reach level which none of the alts might be able to achieve. The reason for Bitcoins' fall was, Bitcoin grew so gradually last year (literally without any reason, but it was all the speed of patience that was held for years before that spike). Considering my analysis over Bitcoins, I can say that every time Bitcoin spiked, it used to come back down to levels that were at least 1/4^th or 1/5^th, I think Bitcoin has already reached its bottom this year and it should carry the rally from now on by taking over the markets with great events coming one by one.

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

I believe this might be true in a case if those scammers were (ever) able to DUMP Bitcoins over markets.
If things are busted, I believe that their effects would also get over sooner, because everything is clear and Bitcoins are (maybe) under the possession of authorities from that point of time because they might auction those coins or may never let us us, which may then be considered as burnt coins as they won't be coming to the markets as the country (India) is not in favor of crypto (not at least currently).

[Gotumoot]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

For me, i think that there are many reasons why bitcoin price drops. First is volatility, means that the price of bitcoin is rapidly changing and its unpredictable to know if its going to increase or decrease. Second is the bad news spreading that affects the supply and demand, because many investors panic sell their bitcoin because they are easily deceived by the news spreading. I suggest that before investing on bitcoin, study first all about bitcoin, for you to have knowledge about it, and for you to know whats best to do when the price drops.

[evergreendog]

This is just a healthy correction and mt gox also dumped a lot of bitcoins, its nothing to panic over, just be patient and wait till the market picks back up.

[FlamingFingers]

I couldn't find any slice piece of news to support that 22000 crore number—all I found was, Congress in India alleges that a major political party used cryptocurrencies (read: bitcoin) for their money laundering (Rs 5000 crore is the reported amount) and called it 'bitcoin scam.' I doubt this would affect the market as we see it now, however. Speculative bubble, regulations, bans, and bad news are the driving force for the market downtrend.

[mattnguyen]

marked 5 reasons for that:
Tax Season
Potential Regulation
Mt. Gox Weight
China’s Relation to Cryptocurrencies
Google’s (as well as other social media) ban on Cryptocurrency

FYI - Coinbase was able to advertise on Google's ad network. I think they're judging on a case by case basis.

Regarding the topic at hand, this is most likely due to a lot of ICO projects cashing out their raised eth for fiat. If I were an ICO project, I would cash a good chunk if it out for bitcoin or fiat in order to reduce my exposure to volatility risk.

I think we'll see this well into 2019 as well.

[darkangel11]

You want the technicals, the fundamentals, or the conspiracies?
From the technical point we have reached the top at 20k and stopped there forming a double top, which should be a sell signal. A dcorection was long due, so we were supposed to go to at least half of the slope, which was 10k. There was a chance to defend it but we had some Korean exchanges hacked, Binance kicked out of Japan, bans in India, and so it went...

Fundamentals are calling for a bounce back with lightning network expanding, CBOE launching an ETF, and many other things, but the decision was postponed which caused the recent crash (IMO it was a completely dumb and emotional reaction from the market).

Conspiracies? Too many and too irrelevant to waste time explaining.

[hidden_legend]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Neither scam nor speculation, I believe that after ETFs are approved (ever), Bitcoins will be dominating the whole market at an extremely out-of-reach level which none of the alts might be able to achieve. The reason for Bitcoins' fall was, Bitcoin grew so gradually last year (literally without any reason, but it was all the speed of patience that was held for years before that spike). Considering my analysis over Bitcoins, I can say that every time Bitcoin spiked, it used to come back down to levels that were at least 1/4^th or 1/5^th, I think Bitcoin has already reached its bottom this year and it should carry the rally from now on by taking over the markets with great events coming one by one.

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

I believe this might be true in a case if those scammers were (ever) able to DUMP Bitcoins over markets.
If things are busted, I believe that their effects would also get over sooner, because everything is clear and Bitcoins are (maybe) under the possession of authorities from that point of time because they might auction those coins or may never let us us, which may then be considered as burnt coins as they won't be coming to the markets as the country (India) is not in favor of crypto (not at least currently).

Thanks for sharing your knowledge here.I am from India and I came across two scams through news published in renowned newspapers  related to Bitcoin where investors put their money and some scammers because of greed fled from country with investors money and profit.These kind of scams force Reserve Bank of India to ban all financial institutions like banks to stop transactions related to cryptocurrencies.There were officially half million investors invested in Bitcoin and other cryptocurrencies according to taxation department of India.So a ban definitely shatter this market.
Few days back as I mentioned above in Gujarat(India) a big scam by Bit Connect came in to light.Amount of money is big but only few people complaint about it because most of the money is black.
Bitcoin or technology behind it is not responsible but the greedy people who want to run with hard earned money of investors responsible for unrest in crypto market.

[hidden_legend]

You want the technicals, the fundamentals, or the conspiracies?
From the technical point we have reached the top at 20k and stopped there forming a double top, which should be a sell signal. A dcorection was long due, so we were supposed to go to at least half of the slope, which was 10k. There was a chance to defend it but we had some Korean exchanges hacked, Binance kicked out of Japan, bans in India, and so it went...

Fundamentals are calling for a bounce back with lightning network expanding, CBOE launching an ETF, and many other things, but the decision was postponed which caused the recent crash (IMO it was a completely dumb and emotional reaction from the market).

Conspiracies? Too many and too irrelevant to waste time explaining.

Is technical and fundamental analysis work at this stage of cryptocurrency market like it works in forex and stocks markets???

yes no need to explain conspiracies but how about scams??? Because of scams mostly investors changing their minds to enter crypto market now.Its only my opinion as I read all through news.Also scams through crypto are very easy due to lack of regulations.

[Valer4ik]

Buyers are waiting for a favorable situation to enter the market, and jumps in the price do not give them confidence in the correctness of the moment. Therefore, for now, it is not worth waiting for growth.

[Strufmbae]

There is also a factor like what op said that scams and  speculations, but i don't think it is the main reason, even thou there are scams , cryptocurrency is still online, the problem i see and i know, is, that supporters from time to time are getting less,  and by basing on selling bitcoin in the market causes it's value to decrease,  going back to basic about law of demand of supply can help us understand what could be the cause of the problem we encounted as of now.  

[fantasticX5]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

It's part of the business that needs correction and this is normal. Although it's a bad timing as we expect that this will run as same as last year but it happens in opposite. Better to hold for next bull run.

[darkangel11]

You want the technicals, the fundamentals, or the conspiracies?
From the technical point we have reached the top at 20k and stopped there forming a double top, which should be a sell signal. A dcorection was long due, so we were supposed to go to at least half of the slope, which was 10k. There was a chance to defend it but we had some Korean exchanges hacked, Binance kicked out of Japan, bans in India, and so it went...

Fundamentals are calling for a bounce back with lightning network expanding, CBOE launching an ETF, and many other things, but the decision was postponed which caused the recent crash (IMO it was a completely dumb and emotional reaction from the market).

Conspiracies? Too many and too irrelevant to waste time explaining.

Is technical and fundamental analysis work at this stage of cryptocurrency market like it works in forex and stocks markets???

yes no need to explain conspiracies but how about scams??? Because of scams mostly investors changing their minds to enter crypto market now.Its only my opinion as I read all through news.Also scams through crypto are very easy due to lack of regulations.

IMO fundamentals are the leading factor. You can see how important they are when they start overpowering the technicals. For instance, we had a huge bullish sign on August 27th with that dump attempt that was immediately bought by the bulls. Without any news the TA would clearly show that we're on a way up, but instead we went down with the news about ETF decision being postponed. This was a nice example of the fundamentals overpowering the technicals.

What scams in particular? There were no huge Bitcoin scams for a while. There were some hacks, for instance that Korean exchange a couple months back, but those guys were as careless as you can be with multiple hoot wallets on auto withdrawal with no supervision. If you are smart you have 80-90% of your money on cold wallets, even if it makes people wait a bit longer. If you keep all your money on hot wallets you have to be a moron.
Last thing, scams in the altcoin sphere don't affect BTC, it's the other way round.

[cellard]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Neither scam nor speculation, I believe that after ETFs are approved (ever), Bitcoins will be dominating the whole market at an extremely out-of-reach level which none of the alts might be able to achieve. The reason for Bitcoins' fall was, Bitcoin grew so gradually last year (literally without any reason, but it was all the speed of patience that was held for years before that spike). Considering my analysis over Bitcoins, I can say that every time Bitcoin spiked, it used to come back down to levels that were at least 1/4^th or 1/5^th, I think Bitcoin has already reached its bottom this year and it should carry the rally from now on by taking over the markets with great events coming one by one.

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

I believe this might be true in a case if those scammers were (ever) able to DUMP Bitcoins over markets.
If things are busted, I believe that their effects would also get over sooner, because everything is clear and Bitcoins are (maybe) under the possession of authorities from that point of time because they might auction those coins or may never let us us, which may then be considered as burnt coins as they won't be coming to the markets as the country (India) is not in favor of crypto (not at least currently).

I don't count in the ETF ever passing. The only hope is that the tight relationship between the Chicago Board Options Exchange and the SEC will be able to create a climate of understanding between parties involved instead of having a bureaucratic war in which some want it done but others think it's a scam and BTC should be banned outright immediately 8We already had such views in the previous hearing).

Bitcoin can go to ATH without an ETF. We really don't need it. Altcoins are a non issue because none have solved the byzantine generals problem in a way that can outdo the security of the Bitcoin network, so there is no reason to fear flippenings of any kind.

The only thing you can do is keep stacking and wait for the rest of the market to align within the new reality, being that Bitcoin will not go anywhere, and your wealth will be increasingly at risk outside of it.

At some point owning 0 BTC will have more risks than owning 1 BTC, and I believe we have already reached that point of inflection for a while, the rest of the world just need to realize this fact, then we'll be at $100k+ in no time.

[hitrawal91]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

Crypto Fall? you can't name every short term correction as a Crypto fall and by the way right now the current price of the Bitcoin is trading some way near at $8500 in the Zebpay exchange and around $6500 in other Crypto Exchanges.The fall of crypto may be because of delaying of ETF's in the Cryptocurrency market.

 Right now infact there is a big money to be made even in this fall using the Arbitrage trading method and you can use arbitrage trading to gain atleast $2000 to $3000 in a very easy manner.

[ntarah langger]

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

I don't think because of that, fraud might have a negative impact but it's only a small part.
Regarding the falling price of bitcoin, there must be something behind it, and my hunch is that when it's all done by the mafia, who buy bitcoin on a large scale when the price goes down.
they manipulate the market