Why the Crypto Market is Going Down – Tue Sept 11

[Gerryl6]

Bitcoin is a currency, but it is traded as a commodity. Currently, there is a limited supply of this digital currency and lots of investors and customers demand for it. The market forces are responsible for setting the share price of bitcoin just like gold.
 
Why is the crypto market going down?

Bad Press: public perception of the currency is affected by headlines of crashes as well as negative statements by financial institutions questioning the validity of the currency. One example of this effect is the event in 2017 where the CEO of JP Morgan threatened to fire any worker that invests in bitcoin in his investment bank. The digital currency suffered a 6% loss in value immediately.

Inadequate security: for bitcoin to gain stability, merchants, and consumers need a safe spot to store funds. Sadly, security issues are affecting the trust as well as bitcoin use. Some notable events happened last year when two exchanges were robbed of their funds. Cyber thieves have also stolen lots of money from crypto exchanges.

Stringent government regulation: bitcoin is decentralized and has not central authority regulating it. This allows users to avoid regular payment processes. It is attractive to lots of users because it means zero inflation or the central It also attracts cyber thieves who love stealing without leaving a digital footprint. Governments have refused to adopt the currency because financial institutions and banks are concerned about its ability to promote laundering or commit crimes. Earlier this year, the finance minister of India said cryptocurrencies would not be recognized as a legal tender by the country. It will also discourage the adoption because of the widespread use in different illegal activities. Also, facebook requires crypto and bitcoin advertisers to pass through a stringent approval process. It also banned ads for initial coin offering.

Delay in the ruling of bitcoin ETF by SEC: experts also believe that the approval of this fund could cause BTC value to skyrocket. The application was previously rejected due to the volatility of the digital currency. The delay has affected other cryptos as well, not just BTC.

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[Precious928]

Thanks, for this Info 

[First77]

Today I thought "it is Sep 11" and I looked at the time in my mobile phone, it was 9:11 p.m. Is it saying something ??

[Gerryl6]

Today I thought "it is Sep 11" and I looked at the time in my mobile phone, it was 9:11 p.m. Is it saying something ??

Where in Different County , Different Location and time Zone  
Did I answer your Question ?

[First77]

Where in Different County , Different Location and time Zone   Did I answer your Question ?

ISIS has some $30 million in Bitcoins and ISIS leader AL-Baghdadi said to the jailers "see you in New York" when he was released

[millgates]

There are some big imvestors who convert their bitcoin into fiat. Big investors made bitcoin more liquidity lower. So when someone sell their thousands of bitcoin then bitcoin price will fall.

[Kotone]

There are some big imvestors who convert their bitcoin into fiat. Big investors made bitcoin more liquidity lower. So when someone sell their thousands of bitcoin then bitcoin price will fall.

yes this is the reason why the bitcoin is going down. but if we observed at the law of demand and the supply. if the demand are many the price is low and if the demand is low the price is high. so if we observed. maybe the price of the bitcoin is dropping because many people come here and because of this the price is crashing

[pooya87]

these are all excuses and they are all about bitcoin not crypto market. the crypto market which is basically altcoins are getting dumped and going down because that is what their sole purpose is. they were created so that they can go up and down like this so that experienced traders can make profit from them.

as for bitcoin it has not been going down for months now. price is at the bottom, something similar to 2015 when it was stuck in $2xx range and people were giving up on it and were coming up with similar excuses why it is not rising.

[LOVEUMUM]

Am definitely sure that the crypto world is daily getting exposure like no other with secure blockchain base system but yet  still the market seem down no matter what and for me personally i think this is quite unfortunate and things seem clumpsy by reason of the chain of supply and demand amking things very difficult for the crypto world to be stable in prices. They just dumping the market by the soo called investors but we hope that things turn around for good for the crypto world.

[davis196]

The current bitcoin price is 6544 USD(today is September 14th).Bitcoin is just fine,but I guess you are talking about the entire cryptocurrency market.I don't think that the crypto traders in Europe and Asia care that much about 9/11.That historical date has nothing to do with the crypto markets.