I think I Found The Reason For Bitcoin's Latest Crash

[eaLiTy]

Bitcoin acting as a viable hedge in times of economic crisis is only an assumption so far. Sure, Bitcoin has a low correlation to classical markets and could behave like gold during a bear market.
But we don't know that yet because there hasn't been a recession since Bitcoin's inception.

That is indeed a viable reason as we are yet to undergo a major recession after the inception of BTCitcoin but we have to accept the fact that there are many major financial institutions invested in BTCitcoin and if there is a correlation between the major economic markets and the BTCitcoin market when the major markets are falling it is because of the influence of these financial fund houses as they will cash out during crisis and may be so is the reason the BTCitcoin market fell during these times.

[FlightyPouch]

I think Corona virus make bitcoin and altcoin crash with lower price, I think when fist time China announce to public with this virus many investor are panic and sell bitcoin with higher amount, today we got how bitcoin dump and crash then need long time for recovering and back to higher price again.

It's told repeatedly that bitcoin and the pandemic that is happening has no correlation at all. Despite the virus, the price even reached $10K and it dropped not directly because of the virus but there are other things that happened. I think this is the reason why bitcoin dropped,

[sheenshane]

I have this feeling and doubt that the reason why the Bitcoin has crashed lately is that because whales are aware that people would panic because of the Novel Corona Virus-19. And will result in them withdrawing all their assets in the cryptocurrency space. All cities lockdown it means no work no pay.

Whales did it first, they released all their assets. So that their assets are safe from the panic selling of the herd. They took advantage of it since the moment they realized the situation. It might be early for them but early is better than regret late. I know a lot of whales who did that.

Luckily, Bitcoin is now showing a small resistance.

[Golftech]

Bitcoin acting as a viable hedge in times of economic crisis is only an assumption so far. Sure, Bitcoin has a low correlation to classical markets and could behave like gold during a bear market.
But we don't know that yet because there hasn't been a recession since Bitcoin's inception.

That is indeed a viable reason as we are yet to undergo a major recession after the inception of BTCitcoin but we have to accept the fact that there are many major financial institutions invested in BTCitcoin and if there is a correlation between the major economic markets and the BTCitcoin market when the major markets are falling it is because of the influence of these financial fund houses as they will cash out during crisis and may be so is the reason the BTCitcoin market fell during these times.

It's a big possibilities why the market is falling as those big bag holders who are also monitoring the financial market are causing this fall. They're good in analyzing the situation and they are moving according to how they will benefit more. Whatever you think about this situation better to go deeper and observe your next movement, decide once you are convince with your position.

[henrydezeden]

I think that almost no one knew about this news in the day of drop. And this is still not a game changer article for so big drop

You have the point with me. In this situation of pandemic spreading, no many people care about crypto exchanging. Every investors just know that now is not time to exchange.

[Chrystora123]

The Cryptocurrency market has gained more than 19% in the last 24 hours..  I personally initially thought that what made the price of Bitcoin Crash like a few days ago was due to the Covid-19 issue, but the @OP analysis is very good so it is most likely the real cause of the price of Bitcoin Crash..

[Xampeuu]

Bitcoin acting as a viable hedge in times of economic crisis is only an assumption so far. Sure, Bitcoin has a low correlation to classical markets and could behave like gold during a bear market.
But we don't know that yet because there hasn't been a recession since Bitcoin's inception.

That is indeed a viable reason as we are yet to undergo a major recession after the inception of BTCitcoin but we have to accept the fact that there are many major financial institutions invested in BTCitcoin and if there is a correlation between the major economic markets and the BTCitcoin market when the major markets are falling it is because of the influence of these financial fund houses as they will cash out during crisis and may be so is the reason the BTCitcoin market fell during these times.

It's a big possibilities why the market is falling as those big bag holders who are also monitoring the financial market are causing this fall. They're good in analyzing the situation and they are moving according to how they will benefit more. Whatever you think about this situation better to go deeper and observe your next movement, decide once you are convince with your position.

besides having a strong analysis, they also have the capital to move prices, so that the traps they make can have a panic effect on many investors, thereby adding power to realize their dreams. it's hard to guess them. therefore we must understand non-technical analysis like this

[fiulpro]

I do think the reason behind bitcoin's crash is , the Corona virus , since people are in quarantine , loosing their jobs , the only thing left there is their investments , their assets do people are encashing to pay for their groceries , medical expenses and other stuff , the jobs are not even paying them anything and the government is also doing their best ( only some governmental bodies ) .
Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.

[TheGreatPython]

I don’t know for sure, and I don’t really think you’re right. If you check your first picture the price of Bitcoin was already going down before the date you marked; it reached the peak around July and then started to fluctuate downwards before reaching the date you marked.

So the way I see it, maybe that was just a coincidence that took place and not really the reason that the price of Bitcoin dropped. Even if that time comes I believe there will always be a way that one can protect his or her self from whatever challenge the quantum computing poses to the crypto community. For now, I’d say that there are more to this fall than what you have here.

[Jating]

This is one theory as well, even prior to the big dump that we have seen.

The big drop in bitcoin’s (BTC) price Thursday was in the making since March 8, data on the flow of funds into exchanges indicates.

The biggest cryptocurrency by market value collapsed from $7,900 to a 10-month low of $4,700 on Thursday and extended the decline to 12-month lows below $3,900 early Friday.

Data provided by blockchain analysis firm CryptoQuant shows inflows into major exchanges, or deposits, began rising at higher-than-usual rate beginning March 8. One way to read this is as a possible co-ordinated action by whales to dump the cryptocurrency.

https://www.coindesk.com/whale-watching-exchange-data-contained-early-warning-of-thursdays-bitcoin-dump

So even prior to the "quantum discovery" in March 11, as the article suggested, there seems to be a large movement of BTC prior to the collapse on March 11/12 pulling the price to the high $3'ish. So probably manipulation in light of the corona virus scare.

[Hydrogen]

I don’t know for sure, and I don’t really think you’re right. If you check your first picture the price of Bitcoin was already going down before the date you marked; it reached the peak around July and then started to fluctuate downwards before reaching the date you marked.

The declines and peaks are correlated with the publication of other news stories. Winklevoss ETF proposals being rejected by the SEC resulted in price declines. News stories claiming tether market manipulation: price decline. With spikes in BTC value sometimes occurring when positive news relating to bitcoin are published.

There is a strange trend in crypto markets where positive news stories are often ignored. while negative stories relating to vaporware quantum computer developments with no proof of concept carry an exaggerated influence on markets. The same precedent could apply to US stocks where markets continued to trend upwards for nearly a week after news first arose of severe production showdowns in china.

Buying, selling and trading aren't reflecting fundamental market mechanis. The way classic analysis says it should.

[criza]

I do think the reason behind bitcoin's crash is , the Corona virus , since people are in quarantine , loosing their jobs , the only thing left there is their investments , their assets do people are encashing to pay for their groceries , medical expenses and other stuff , the jobs are not even paying them anything and the government is also doing their best ( only some governmental bodies ) .
Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.

Quite right, as soon as the start of Corona virus outbreak, the price or the standing of Bitcoin have decreased massively with just a short amount of time. The pandemic affected a lot the economic status of certain countries that have cases of the ncov-19.

But, these days prove to be good for the standing of Bitcoin because, its price is gradually recovering from the dump that have gone down to a $3,500+ value to $6,500+ in the present with a short amount of time. This could be a sign for a significant development for all the stock investments in the market.

[CHENIEN]

It may be difficult to justify the fact,  and there is no solid evidence of crash including the sudden decline of bitcoin, perhaps coronavirus is the most expected caused of global economic crisis,  and the exchange was collapsing due to panic sales that have occurred in the traditional market, I think because of this, all side of the country with the competition of crypto has dropped,  and the other investors have been disappointed.

[Arkann]

It may be difficult to justify the fact,  and there is no solid evidence of crash including the sudden decline of bitcoin, perhaps coronavirus is the most expected caused of global economic crisis,  and the exchange was collapsing due to panic sales that have occurred in the traditional market, I think because of this, all side of the country with the competition of crypto has dropped,  and the other investors have been disappointed.

What is happening today in every country because of the coronavirus is quite expected, since any quarantine and any restrictions affect both small and medium-sized businesses, and it is also very difficult to display on large businesses.  Today, every person begins to feel financial starvation due to lack of work, because not only in countries but also in every city quarantine has been introduced.  Because of this, in any case, the expected crisis will be due to the crown of the virus, but I very much hope that people who are isolated at home due to quarantine have much more time to learn as much as possible about cryptocurrency and think about alternative ones.  sources of income using the cryptocurrency market.  this in turn can improve the situation.

[Meowth05]

This is a interesting insight on bitcoin crash but I think this breakthrough still needs more solid evidence to be considered for a factor, there are quiet a lot of factors for the crash and some point the roots to the pandemic, this is a proof that is tested for a long time in many economic models.

[shoreno]

It may be difficult to justify the fact,  and there is no solid evidence of crash including the sudden decline of bitcoin, perhaps coronavirus is the most expected caused of global economic crisis,  and the exchange was collapsing due to panic sales that have occurred in the traditional market, I think because of this, all side of the country with the competition of crypto has dropped,  and the other investors have been disappointed.

op provided some proofs on the first page and theres alot of it imo  .

that would be enough for me convince that the crash was caused of it and not the other way around but many people find it too technical , they might not understand it properly so they find other reasons that are easily understandable like this one ( the covid virus )  .  

quantom thingy have been discussed many times before and many people already speculate it that it can affect the performance of btc  .

[cutesgirl]

Bad situation around the world and many countries still get cases with Corona virus make us faced with bitcoin in lower price, I don't know details why bitcoin crash with lower price and why many people sell bitcoin in cheap and looks panic for selling, why not holding several days later and see how bitcoin will going up.

[Rodeo02]

I do think the reason behind bitcoin's crash is , the Corona virus , since people are in quarantine , loosing their jobs , the only thing left there is their investments , their assets do people are encashing to pay for their groceries , medical expenses and other stuff , the jobs are not even paying them anything and the government is also doing their best ( only some governmental bodies ) .
Therefore I do think the crash is because of this .
Not because of any other Event ..
It just makes sense.

its another reasons but the main reasons is the plus token scam. Which dumped morethan 20k btc  + Fud made by the crisis we have in corona virus . If the price continue to decline then the crisis we have now is the reason now.

[darewaller]

I’m already getting tired of all these. The truth is that none of you even knows why the cryptocurrency market fell.
The only true reason which is believable is that Bitcoin plummeting to a low price was caused by the Covid-19 outbreak. This was the same thing that the stock market faced, so this is the only thing that is likely to be true. I don’t even believe what you have said , or maybe there is the possibility that this also contributed to the fall.

I have seen other people that gave different reasons as to why Bitcoin price fell to a low price, but I’m not sure if any of these are accurate; if they are, the pandemic is the main thing and these ones are just some other factors that contributed to it.

[Hydrogen]

I think I'll try to explain most of the larger, most recent, bitcoin pricce increases/decreases with a chart infographic, later. Bitcoin's price moves were influenced by news stories, if I'm remembering right. Its a question of which ones were responsible.

Natural market mechanics could take a distant back seat there. As far as market price movements go.

I’m already getting tired of all these. The truth is that none of you even knows why the cryptocurrency market fell.

There is one guaranteed method to describe the fall of markets.  

They occur when selling volume > buying volume, by disproportionate amounts.

When there are significantly more sellers than buyers: markets crash. The inverse opposite is also true.