Why does the Bitcoin price keeps nose diving?

[BitcoinPanther]

Well we can see that there are FUD everywhere and the one that will give Bitcoin a breather is moved till next year of Jan.  Isn't this obvious?  The market is somehow being manipulated, probably a huge entity wants it to buy at its lowest and created an issue and confusion that started during the BCH war and they are successful in shaking weak hands.  In short, an upsurge of Bitcoin supply that is on sell wall overwhelm the buy order and sadly those who are buying adjusted their buy order to gain more profit when it is fulfilled.

[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.

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

Okay, you don't believe that the DOJ's investigation on cryptos price allegedly being manipulated is the reason for the fall in prices? Then, give me your argument.

[prtty2gal2]

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.

Exactly! It is a market and as long as there is no demand to really hold it up, things like this will continue. Moreover, there is no doubt the market is prone to manipulation, based on the reality that this is an unregulated decentralized space, so one way or the other, we might just have to consider the fact that the institutions are doing their bit, based on the market being new and speculative, to keep driving the weak hands out of the market for as long as they can, until maybe we finally hit mainstream adoption as well as possible real life usage.

[adaseb]

I don't think it had anything to do with this criminal probe. This was actually already discussed a few months back and the market already knew about it. Same with the BAKT delay, there were many ETF delays and ETF denials which resulted in no price action.

Same with the hash wars that is going on with the BCH ABC and BCH SV, I highly doubt the real satoshi is selling his BTC to fund miners on Nicehash.

It crashed because many had a stop loss <$6000 or $5800 and it created a domino effect and also it was very sudden and came as a surprise to most.

[cluit]

Not only there is a hash war going on but also that causes a lot of sell from people who are afraid of losing money once again.

I have talked with someone in a telegram group who bought bitcoin at around 19 thousand dollar prices and kept his bitcoin until it was about 12 thousand dollars, thankfully he sold it during 12 thousand dollars to prevent further drop in price, which is still a loss and a bad thing but at least he realized his losses and now is not at 4 thousand dollars.

Well, I wish he wasn't. He rebought all he can afford at around 6.2 thousand dollar levels thinking that was the low and now the price is even lower, he sold it during 4.4 thousand dollar levels thinking it will go even further. As you can see people keep panic selling no matter how many times they lose to the whales. That single big fall creates a huge wave of sell orders.

[ProperFerret]

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.

Still, many banks and governments are incited to make money more digital. My thought is that we're probably going to face a situation similar to what happened with regard to Lehman Brothers: There's a high risk for Bitcoin to sink, but the rest of the cyber-currencies will be saved.

[timerland]

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.

There definitely could be concerns with that which led to prices plummeting. There may also be reasons behind this dump regarding the hard fork of other cryptos, they are all factors.

But honestly, if these news came out in a bullish sentimented environment, I really doubt that prices would be affected this much. Only in a bear market do these news stick around and result in a panic dump, because weak hands who are merely speculating on the market to make a quick buck don't have the fear of missing out to buy into bitcoin anymore, like in a bull market. The cycles of the BTC market which has been shown countless times is the ultimate reason behind all these price dips imo.

TBH, a price recovery seems very unlikely this year, but could happen in the next year after prices bottom out at $3-4k and move sideways a bit. Shouldn't be concerned at all though if you're holding for the long run, which I think most people here are doing. Short term dumps like these have absolutely no impact on how bitcoin adoption (both institutional and individual) and usage will go in the long term.

[xuan87]

I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit

[suzanne5223]

I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit

Thats definitely one of the reason behind the dump in price of the market but the thing which I believe was the reason behind the current bottom price the November holidays because most people usually sell than holding when it November-December. However,if you watch closely the date which dip market happened, it started acouple of days to this year thanksgiving.

[BlackPanda]

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.

Until now there have been a lot of governments and authorities who are frightening the use of Bitcoin / Crypto. Basically they are worried because the crypto price movement is so fast that it is very likely to cause economic chaos in a country. Besides that, there are a lot of financial transactions that are free to do and have anonymity, making it difficult for the authorities to take action. This is what we are still waiting for, when various sectors support Crypto use, it is very likely that crypto can develop very rapidly. We are waiting for all that and I am very optimistic that it can happen.

[Capt00]

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.

Until now there have been a lot of governments and authorities who are frightening the use of Bitcoin / Crypto. Basically they are worried because the crypto price movement is so fast that it is very likely to cause economic chaos in a country. Besides that, there are a lot of financial transactions that are free to do and have anonymity, making it difficult for the authorities to take action. This is what we are still waiting for, when various sectors support Crypto use, it is very likely that crypto can develop very rapidly. We are waiting for all that and I am very optimistic that it can happen.

Well, hopefully, that will really happen that there were various sectors will fully support crypto use. If that happens no more price nose diving at all, the development will rapidly go up. Encouraging people too to hold during this bloodbath market and no easy to do panic selling will contribute a good price volume in the market. Because as of now, as what I have seen there are a lot of sellers than the buyers in Bitcoin converting into fiat and it will cause drastically down the price.

[Boysisig207608]

I think that the bitcoin price keeps nose diving because of the negative publicity that bitcoin is being manipulated and then there's bitcoin dumping which overflow the supply of bitcoin and makes its value goes down and because of that many of its investors and supporters abandon their support on bitcoin pushing further down bitcoins market value.

[Bitcoinwaist]

Imo the price is being forced down by whales to load up on cheap coins. Its the only way they can increase their supply. Because they know in about 2 m9nths there is going to be sonw serious demand for btc when bakkt opens for trading. Its almost like guaranteed money for the whales. Institutions arent going to be selling in January they are going to be buying.

Think about it if an institution wants to buy 50000 deliverable bitcoins they have to be in baakts possession to deliver. So they will bw scrambling for coins at sone point in time. This is the way to $100k+ bitcoin. Be patient or buy until the end of January we will be fine.

[Wilhelm]

Imo the price is being forced down by whales to load up on cheap coins. Its the only way they can increase their supply. Because they know in about 2 m9nths there is going to be sonw serious demand for btc when bakkt opens for trading. Its almost like guaranteed money for the whales. Institutions arent going to be selling in January they are going to be buying.

Think about it if an institution wants to buy 50000 deliverable bitcoins they have to be in baakts possession to deliver. So they will bw scrambling for coins at sone point in time. This is the way to $100k+ bitcoin. Be patient or buy until the end of January we will be fine.

Bitcoins are being accumulated as we speak....  
Major investors are usually ahead of the game....

[Bezobraznike]

Imo the price is being forced down by whales to load up on cheap coins. Its the only way they can increase their supply. Because they know in about 2 m9nths there is going to be sonw serious demand for btc when bakkt opens for trading. Its almost like guaranteed money for the whales. Institutions arent going to be selling in January they are going to be buying.

Think about it if an institution wants to buy 50000 deliverable bitcoins they have to be in baakts possession to deliver. So they will bw scrambling for coins at sone point in time. This is the way to $100k+ bitcoin. Be patient or buy until the end of January we will be fine.

Bitcoins are being accumulated as we speak.... 
Major investors are usually ahead of the game....

   Not just major investors, all of us who support it in good and bad times. Bitcoin price is moving in both directions,
but some of us don`t lose faith with first drop. We don`t get eaten by the panic around.
   Every new technology had similar path to the top. People should read about Amazon, Internet, Apple, Microsoft, and many
others. In their history you can find same fluctuations.

[ProperFerret]

I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit

I am confused... is the problem caused by the fact that we do not have a decentralized exchange system?

[Altero]

I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit

I am confused... is the problem caused by the fact that we do not have a decentralized exchange system?

We could also consider that thing and  also the process of regulations coming from SEC which is mostly all the investors have looking it to have assurance of their investment. And it is sad to know that SEC disapproved the application and it turns into losing the confidence of investors into crypto.

[ProperFerret]

Well we can see that there are FUD everywhere and the one that will give Bitcoin a breather is moved till next year of Jan.  Isn't this obvious?  The market is somehow being manipulated, probably a huge entity wants it to buy at its lowest and created an issue and confusion that started during the BCH war and they are successful in shaking weak hands.  In short, an upsurge of Bitcoin supply that is on sell wall overwhelm the buy order and sadly those who are buying adjusted their buy order to gain more profit when it is fulfilled.

Could it that people need to now trade bitcoins on other platforms that are independent and not sold out to the corporations that see them and other cryptos as a threat.

[ProperFerret]

I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit

I am confused... is the problem caused by the fact that we do not have a decentralized exchange system?

We could also consider that thing and  also the process of regulations coming from SEC which is mostly all the investors have looking it to have assurance of their investment. And it is sad to know that SEC disapproved the application and it turns into losing the confidence of investors into crypto.s

Then, this makes my case. We need an exchange system that's free from the grasp of corporations which can create situation that lead to uncertainty towards cryptos.

[South Park]

I think the price is heavily manipulated and the interest of people buying Bitcoin has been decrease, I think it's because the price plunge down since the high hype and a lot of investors losing a lot of money, nowadays poeple are prefer buying ICO and then perform dump to make profit

I am confused... is the problem caused by the fact that we do not have a decentralized exchange system?

We could also consider that thing and  also the process of regulations coming from SEC which is mostly all the investors have looking it to have assurance of their investment. And it is sad to know that SEC disapproved the application and it turns into losing the confidence of investors into crypto.s

Then, this makes my case. We need an exchange system that's free from the grasp of corporations which can create situation that lead to uncertainty towards cryptos.

Decentralized exchanges are going to be the solution to this problem but to this day no developer has been capable of creating an exchange that is popular with investors and this is because just as decentralized cryptocurrencies have some limitations compared to their fiat counterparts a decentralized exchange is not going to have everything a regular exchange has.