Why does the Bitcoin price keeps nose diving?

[ProperFerret]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

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[HabBear]

The price keeps nose diving because there are more sellers than buyers. Why are there more sellers than buyers? Because there hasn't been much positive (if any) news about Bitcoin for most of the year...people are bored.

I think it might be because of federal prosecutors launching a criminal probe into the cryptocurrencies earlier this year, but why?

What prosecutors? What criminal probe? In what country? When you speak in such generalities you don't help us engage in your discussion.

[messito]

everything is much easier. I think that the manipulators decided to push the market very well down and do not need to invent anything else

[ProperFerret]

What prosecutors? What criminal probe? In what country? When you speak in such generalities you don't help us engage in your discussion.

Just added the link from CNBC that talks about that criminal probe by the U.S (https://www.c[Suspicious link removed]m/2018/11/20/regulators-investigate-whether-bitcoin-price-was-propped-up-illegally.html). DOJ because apparently the authorities suspect that there was foul play involved in the value of bitcoin being propped up for the past year. As I said, the probe started earlier this year, unbeknownst to many including me who are frequent users of bitcoin and other digital currencies.

[pixie85]

The price keeps nose diving because there are more sellers than buyers. Why are there more sellers than buyers? Because there hasn't been much positive (if any) news about Bitcoin for most of the year...people are bored.

I think it might be because of federal prosecutors launching a criminal probe into the cryptocurrencies earlier this year, but why?

What prosecutors? What criminal probe? In what country? When you speak in such generalities you don't help us engage in your discussion.

He must be talking about that article that I saw somewhere about prosecutors going after Bitfinex again for tether manipulation. While I'd like tether to just disappear because there's too much stink hovering around it, people going after tether is not people going after Bitcoin otr cryptocurrencies in general.

[bhadz]

They are afraid that crypto's are going to take over fiat/financial system? I guess so but that's too early to assume that they are into it. The price is diving due to many panic sellers are adding the flock and this creates the force that gives these big institutions to have that taste of victory for buying the cheapest that they can. I think they are just waiting for more but once there's already a buying signal, we will see that the market will climb quickly.

[ProperFerret]

They are afraid that crypto's are going to take over fiat/financial system? I guess so but that's too early to assume that they are into it. The price is diving due to many panic sellers are adding the flock and this creates the force that gives these big institutions to have that taste of victory for buying the cheapest that they can. I think they are just waiting for more but once there's already a buying signal, we will see that the market will climb quickly.

But what's important is that people don't stop using bitcoin. It would be a huge win for corporations. However, at this point who knows what's going to happen.

[alex_gr_cc]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

The cryptocurrency market is not so big as to pose a threat to the global financial system. As for the manipulations, they are. But if we look at the situation in the world as a whole, we will see that the markets are falling. Therefore, the fall of cryptocurrency is predictable.

[worldofcoins]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

I don't think the financial system fears cryptocurrencies that much as no decentralised coin has been favoured or backed up by any central organisation. I think its more to do with the fear amongst the holders and liquidating their investments.

[rodskee]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

Fake news affect bitcoin price ddown
Bad news affect bitcoin price down
Whales maniiptlation affect bitcoin price down
And especially volatile fluctuations
All the above are basis why bitcoin price falling down according from people analysis
But until now there nothing to proof how really true that is the main reason of bitcoin fall down
For me the reason why bitcoin fall down because is affeted of world economic crisis
People need to survive making money in bad ways

[ProperFerret]

Fake news affect bitcoin price ddown
Bad news affect bitcoin price down
Whales maniiptlation affect bitcoin price down
And especially volatile fluctuations
All the above are basis why bitcoin price falling down according from people analysis
But until now there nothing to proof how really true that is the main reason of bitcoin fall down
For me the reason why bitcoin fall down because is affeted of world economic crisis

I also read that the world economic growth will be at a standstill in 2019, which is not good news for the digital economy. Hopefully, people will keep using cryptos to prevent their decline at a very crucial time.

[alyssa85]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

Institutional investors tend to sell when they hear news of potential criminal action.

Just be grateful that none of those ETFs were approved - we'd have had a tsunami of retail selling as well!

[th3nolo]

Because Bitcoin price isn't ready to start pumping it yet, and.. Bakkt has been delayed to January so there are not good news for anyone.

[suzanne5223]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

What you said concerning the Federal prosecutors maybe one of the reason why the market is facing a down trend and we both know that the price of every crypto currencies are manipulated sometimes but crypto market correction usually happen the next year when an ATH has achieved. However, I can assure you that nothing the probe which was to be launched by the federal prosecutors can really to stop market manipulation.

[RonF]

The DOW is also nose diving - look it up.

Fact is the US government is 22 TRILLION dollars in debt and all US households are another 12 TRILLION dollars in debt.  Add that up and consider how wealthy America really is.

You guessed it, not wealth at all and you can thank our Democrat socialism for that.

[Herbert2020]

the drop started only because of the FUD and panic of the altcoin fork called bitcoin-cash and that has been harming the stability of bitcoin price ever since. and when the price enters lower values by breaking a strong buy support the drop becomes bigger because the support below that line is no longer strong and the panic is also added to the mix until it reaches another strong buy support. that is why the drop has been like this so far.

[eagle10]

Bitcoin's value keeps going down because there are many sellers than buyers. People are panicking because of this so they dump their holdings afraid that they might lose more when it goes down even further. Yes, even more bad news and negativity around cryptocurrency also affect the price of altcoins.

[Slow death]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated.

bitcoin have many years since its creation and its price has gone up a lot and fallen a lot, I do not know because only now they started to want to investigate about a possible manipulation of prices and many exchanges are not in the USA and do not have license since that still an unregulated market, this is all very difficult.

I think it might be the main reason behind the price of bitcoin dropping to around $4000

I do not believe that is the reason for the fall in prices

[Wilhelm]

The DOW is also nose diving - look it up.

Fact is the US government is 22 TRILLION dollars in debt and all US households are another 12 TRILLION dollars in debt.  Add that up and consider how wealthy America really is.

You guessed it, not wealth at all and you can thank our Democrat socialism for that.

Your argument is invalid.....

Debt added "Change in debt as a percentage of GDP"

#1: Bush 43 (Republican)
#2: Obama (Democrat)
#3: Reagan (Republican)
#4: Bush 41 (Republican)
#5: Ford (Republican)

Yeah blame the democrat because he invested in social welfare and not war

[yndye]

According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.

I guess some people are just disappointed with the price now expecting for it to go up just like last year during this time but then the opposite happened and it keeps going down. With this kind of market, some I believe already gave up and sell their coins with no plans of turning back again. Some panic sell seeing the price continuously go down. With the news about the fork of bitcoin cash, others sell their bitcoin for bitcoin cash to have the free coins and then the price wasn't able to recover.