Why does the Bitcoin price keeps nose diving?

[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.

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.

I did read about the Virie market which will be a decentralized exchange system for cryptos to escape the corporations' influence. I don't know if "to this day no developer has been capable of creating an exchange that is popular with investors", but if there were any, their initiative was not successful. In that regard, I think that Virie has potential to revolutionize the exchange system.

[KorakPawon]

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.

Manipulated? who's done it? How can you be sure about that? I think the main reason the price dropping so deep is because people started to sell their coins. moreover, sellers are actually are a bit more rather than buyer. It affects to the price of course. When Bank are afraid of bitcoin, I think people already know why.

[South Park]

I did read about the Virie market which will be a decentralized exchange system for cryptos to escape the corporations' influence. I don't know if "to this day no developer has been capable of creating an exchange that is popular with investors", but if there were any, their initiative was not successful. In that regard, I think that Virie has potential to revolutionize the exchange system.

There are some good decentralized exchanges out there but they are not popular, most of them have volumes which are very low compared to centralized exchanges, I have not used them all but I used the waves exchange a few months ago and its daily volume was something like 300k dollars which for an exchange is very low, but there are at least 10 new decentralized exchanges being developed at the moment so we can only wait and see if any of those projects becomes popular.

[leowonderful]

The Waves DEX has since improved in several ways, and the daily volume of the exchange according to Coinmarketcap has now hit around $1.6 Million, so the exchange is a little better now than how you mentioned it a while back. You can help improve volume yourself and make these DEXes just a little bit more popular by trading on them. That’s what I’ve been doing recently, and if you believe in them, it’s a good course of action to take.

[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.

Manipulated? who's done it? How can you be sure about that? I think the main reason the price dropping so deep is because people started to sell their coins. moreover, sellers are actually are a bit more rather than buyer. It affects to the price of course. When Bank are afraid of bitcoin, I think people already know why.
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I'm willing to accept your point only and only if you tell me who's buying bitcoins now that their price has dropped.

[ProperFerret]

I did read about the Virie market which will be a decentralized exchange system for cryptos to escape the corporations' influence. I don't know if "to this day no developer has been capable of creating an exchange that is popular with investors", but if there were any, their initiative was not successful. In that regard, I think that Virie has potential to revolutionize the exchange system.

There are some good decentralized exchanges out there but they are not popular, most of them have volumes which are very low compared to centralized exchanges, I have not used them all but I used the waves exchange a few months ago and its daily volume was something like 300k dollars which for an exchange is very low, but there are at least 10 new decentralized exchanges being developed at the moment so we can only wait and see if any of those projects becomes popular.

Why do you think that decentralized systems are not very popular? Could it be that some powerful people are pulling the strings behind the scenes to prevent them from emerging?

[South Park]

I did read about the Virie market which will be a decentralized exchange system for cryptos to escape the corporations' influence. I don't know if "to this day no developer has been capable of creating an exchange that is popular with investors", but if there were any, their initiative was not successful. In that regard, I think that Virie has potential to revolutionize the exchange system.

There are some good decentralized exchanges out there but they are not popular, most of them have volumes which are very low compared to centralized exchanges, I have not used them all but I used the waves exchange a few months ago and its daily volume was something like 300k dollars which for an exchange is very low, but there are at least 10 new decentralized exchanges being developed at the moment so we can only wait and see if any of those projects becomes popular.

Why do you think that decentralized systems are not very popular? Could it be that some powerful people are pulling the strings behind the scenes to prevent them from emerging?

While there could be some manipulation going on it seems to me this is about comfort, most people are too happy to exchange their freedoms for comfort, we can see this everywhere, now there is a huge amount of surveillance software and hardware in your own home but people do not care about this as long as their lives are slightly easier, we see this with the lack of adoption of cryptocurrencies as well when we know they are clearly superior to fiat in many aspects and the same is happening in my opinion to decentralized exchanges.

[ATMD]

Market panics, people sell, price drops. People need good news on bitcoin, a persuasion to buy in to the potential of Bitcoin. Market manipulation is possible, but lack of evidence makes it mere speculation.

[rickadone]

Thank god at least it stopped going any further down. It was looking really ugly for a while there and when it dropped initially to $5.6k I was glad it stopped but than it dropped even further to $4.8k and I was getting scared and than it dropped to under 4 thousand and I was feeling like we were going downwards to 1 thousand dollars per bitcoin prices.

I am really relieved right now that it looks like it stopped, I hope it doesn't happen again, at least not until we get up a bit more. This is really looking like something huge and we were really not doing well for a while there. It doesn't seem to be nose diving anymore but we are still not clear out of the water yet, we need to make sure we get a bull run (even a small one) before we get another drop in the price.

[sunanbonang]

everyone already knows if the market is manipulated. but now they have run out of bitcoin and it's time for them to buy back, that's why the price of bitcoin is now much better than before.

[ProperFerret]

everyone already knows if the market is manipulated. but now they have run out of bitcoin and it's time for them to buy back, that's why the price of bitcoin is now much better than before.

Yeah... but there's too much uncertainty on standard coins. Wouldn't it be better to have companies that create their own cryptos?

[ProperFerret]

Thank god at least it stopped going any further down. It was looking really ugly for a while there and when it dropped initially to $5.6k I was glad it stopped but than it dropped even further to $4.8k and I was getting scared and than it dropped to under 4 thousand and I was feeling like we were going downwards to 1 thousand dollars per bitcoin prices.

I am really relieved right now that it looks like it stopped, I hope it doesn't happen again, at least not until we get up a bit more. This is really looking like something huge and we were really not doing well for a while there. It doesn't seem to be nose diving anymore but we are still not clear out of the water yet, we need to make sure we get a bull run (even a small one) before we get another drop in the price.

I still don't think it is a good sign because it's being controlled. Don't you think that it's time to use more decentralized exchange platforms?