Bitcoin

[Roxadex]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

[Wysi]

I am sure no one will have the exact reason for decline in the value of Bitcoin today which sent whole crypto market into red as altcoins were badly affected by the decline. It might be a cashout from any whales or else just an usual correction, as there are numerous reasons which might have led to this decline which we can't be sure.

There has been no negative news about Bitcoin in last one week and today's feline was bit surprising and as it was unexpected

[Fortify]

Bitcoin is currently higher than it was for the majority of the last 10 years and it is higher than it was 2 months ago. It is all about perspective and the range of time that you are looking at. Nobody can really tell you why it moves up or down a thousand dollars a day because a massive amount of people are trading it and they all have different strategies or ideas on the long term value of it. You really need to be patient and the best hedge against it is to have a wide portfolio of assets - not just blockchain based currency.

[boyptc]

What is the reason for the decline in the price of Bitcoin is currently declining.

Usual market. We always see the market up and down without any reason. The closest one is whales and everyone sold.

Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

$50k-$100k

That's the speculation for the price that I've seen.

[Yaunfitda]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

Most likely there is no buyer, as everything is base on supply and demand. FOMO is still there, but not as huge in the last couple of months. Or probably we have reach the big barrier of $20k and wasn't able to sustained it and people liquidated their assets at that price.

But I would say that it is a big decline though we are still in the $18k'ish price, that is huge because just in March alone, when this covid-19 enter the price the price goes down like 50%-60% to $3200. So we have accomplished a lot of things in terms of price this year alone.

[Torque]

Sometimes people buy Bitcoin, and the price goes up. Then they buy more, and it goes up a lot. A real whole lot.

But sometimes, people sell a little bit, and the price goes down a little. Then they sell a little bit more, and the price goes down some more.

But then, crash! People cry.

And then... up. And up. And up some more.

And then... pump! People like wtf?  

And then... moon! People smile.

And then... down again.

And then...crash. People cry again.

So you see? Yeah. That.

There it is.

All you need to know.

[2tang]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

This sudden drop in Bitcoin price, is caused by large volume investors or whales depositing BTC into the market. This may be aimed at taking advantage of the price that is starting to approach the all-time high of Bitcoin of $ 20,000 and the main reason for the price of bitcoin to drop dramatically in my opinion is due to the large number of investors selling bitcoin when bitcoin experienced a price correction in the range of $ 18 500- $ 19000 at that time, so The price correction began to trigger investor or trader panic about the possibility of a drastic price drop and this refers to the experience that happened in 2017 when bitcoin was pumped but suddenly a pretty strong hit occurred and made the bitcoin price dump until it reached $ 6000.

[maxreish]

Whales, huge volume of trading, different news regarding bitcoin adoptions, investors selling and buying and many more teasons why bitcoin is declining. 2021 is  fast approaching, we can definifely achieve new ATH. Although it is hard to break the new resistance level for the bitcoin easily reach that  $20k to $25k.

It is down again today, of course correction is normal and drops off below $18k awhile ago. Bulls are still strong, if it foesn't break $17,500 then bulls are pulling up soon.

[STT]

Price moves in cycles, nothing more complicated then that.   We advance and contract constantly like a wave, on wider time frames we can move to a greater magnitude but recently we havent be moving rapidly or erratically I think.
  I think we can see more movement towards the close of this month as we leave our past regular price gain trend it might prompt some to avoid involvement for a short while and they'll speculate a lower to buy back in but its a risk as nobody can say for sure what action will occur.
  Right this moment the top prices are the 2 day average and the recent low was a monthly average which is still rising so we are sorting ourselves into deciding a wider price that appeals to the majority of the market as the best trade.   I think my guess is around 16k for a target and as always we can rise later

[Searing]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

In my view, the likely dubious regulation of Bitcoin Exchanges mentioned by the US Treasury way back in February of 2020.

https://www.nytimes.com/2020/02/12/us/politics/treasury-cryptocurrency.html

Then with all the 'dubious' regulations that the Trump Administration is tossing out to 'mess up' the next Biden Adminstration, as forwarned by

the CEO of Coinbase warned of such.

https://dailyhodl.com/2020/11/27/coinbase-ceo-says-us-treasury-may-rush-out-rules-on-private-crypto-wallets/

Then to top it all off this tidbit of such clarity of regulations will come within 4-6 weeks (or 5 days at most before Biden is sworn in as President)

https://www.cnbc.com/2020/12/04/top-currency-regulator-says-to-expect-clarity-in-coming-weeks-on-bitcoin.html

and last but not least, if the regulators really are on the ball and 'hate' Bitcoin and hope to mess it up further by 'timing' their dubious rules just right...

they will do drop the regulations AFTER December 15th, 2020 when the finally Mt.Gox settlement is released for claims to all affected.

About $2.6 Billion in Bitcoin or 5.5 months worth of mining or approximately 140,000 Bitcoin.

So will people HODL or will they dump, due to hard times?

https://cryptobriefing.com/mt-gox-bitcoin-distribution-sparks-selloff-fears/

So it is gonna make for an 'interesting times' till this all is sorted out before the next ATH!

I 'assume' that if such dubious regulations by the folks leaving gov't service would be likely reviewed and

or tossed by the new Biden Administration and maybe also Congress, in that all such regulations had no open comment or hearings and have been hidden from view,

pissing off more than a few in the legislature.

We will see, myself, I'm thinking a big dump to around $13k and wobble around for 2-3 months until resolved..so cheap coins! Which I plan to take advantage of

getting as many as possible in the realm of BTC dust!

But that is why the price is going down, IMHO, all this potential FUD.

How it seems to work with centralized power and wealth against decentralized Bitcoin/Crypto. First, the ATH catches the powers that be that hate BTC/Crypto

by surprise..then the FOMO really catches them off guard...so they reply with 'dubious' rules/regulations  which do little but drop the price and slow down Bitcoin/Crypto

till all is resolved. Rinse/Wash/Repeat. So if they burden as the CEO of Coinbase fears undo regulations on USA exchanges with more KYC rules. I will simply go to

an overseas exchange ..even a legit one..with the same KYC rules as now and all is dandy. Just means USA exchanges screwed and may end up leaving the USA.

As much as the current Trump Administration would like to tell the world how to run or use or control Bitcoin/Crypto..not gonna happen. Not to mention the 'pushback' by

all the USA exchanges like Coinbase/Paypal/Gemini Trust/Grayscale/Square, etc. Won't stand up in the long term, no matter how bad, IMHO.

Scary stuff this decentralized vision of wealth and store of value called BTC/Crypto. Too much like squeezing Jello always comes back!

So myself, if any/most/all of the above happens it will mean cheap BTC/Crypto for the next few months till the next ATH when all above is resolved in the next

Biden Administration. I intend to take advantage of such to buy cheap!

Brad

[btc_angela]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

Simply, the market is base on supply and demand law.

There are more sellers in the market than buyers so obviously the price will decline. As for what influence investors/traders to sell, well there could be negative news around that we haven't heard that might sway them to sell. But you have nothing to worry though, this is just normal. Sometimes we really need to take some healthy corrections to move forward.

[adaseb]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

Most likely there is no buyer, as everything is base on supply and demand. FOMO is still there, but not as huge in the last couple of months. Or probably we have reach the big barrier of $20k and wasn't able to sustained it and people liquidated their assets at that price.

But I would say that it is a big decline though we are still in the $18k'ish price, that is huge because just in March alone, when this covid-19 enter the price the price goes down like 50%-60% to $3200. So we have accomplished a lot of things in terms of price this year alone.

I think there are buyers but the buyers are high leveraged traders using derivatives and they got tight stop losses or they are over-leveraged and a 2-5% move can liquidate their entire account. This is observed because usually when this happens there is a massive price decline followed by a huge volume spike and usually right after it resumes its original intended move.

There can be also spot buyers who are nervous and want to buy either at $19K or $18K but they don't want BTC to go back down to $10K so they buy and use a stop loss. So the people that bought at $19K probably got stopped at $18K and so forth. However the institutions are buying up all these bitcoins which are sold under panic.

[Josefjix]

It could be as a result of market correction as it has been going up since the last 1 month, it needs to correct the market flows and settle in a particular region for a while then decide to move itself sideways again. It is mere observation, no one can really tell what exactly is the problem with the sudden decrease in the price and brutal crash in altcoins.

[rodskee]

What is the reason for the decline in the price of Bitcoin is currently declining. Where would the price of Bitcoin go in 2021. I would like to know everyone's opinion. If anyone knows, please let me know.

Decline is always Investors decision because Supply and demand ,the more buying of bitcoin is the higher the value it become.
recently there are other factors that comes about real investors are buying Bitcoin and institutional investors also.
Added that Paypal is not with crypto but after all of this still Decline happen.

Sometimes  come to think that market is really being manipulated and we are small investors are the target.

It could be as a result of market correction as it has been going up since the last 1 month, it needs to correct the market flows and settle in a particular region for a while then decide to move itself sideways again. It is mere observation, no one can really tell what exactly is the problem with the sudden decrease in the price and brutal crash in altcoins.

Correction  happens already weeks ago when the value drops down to 17,738$ per bitcoin and i think that is the lowest..
So be ready for what the New year might bring,decide earlier or be late ever,

[ethereumhunter]

I guess the reason is that bitcoin makes the correction for the price. It happens many times from a long time ago, and it is not surprising if this time, bitcoin is down again. But after this moment, the bitcoin price will increase, and it will be back to the higher price. I hope you don't have to panic and worry because you see this moment, and it is better to prepare for the next rally, so you can sell your bitcoin and make a profit again.

[pooya87]

Like all the previous cycles when price reaches the ATH price of the previous cycle there is a big sell off where panic sellers start selling their bitcoins no matter when they bought those coins. It is always like a psychological resistance that causes a panic sell. So far we had a moderately small drop and it was expected which adds one more thing similar to all the previous cycles and solidifies the speculation that the same trend is being repeated over the past 2 years.

[exstasie]

There can be also spot buyers who are nervous and want to buy either at $19K or $18K but they don't want BTC to go back down to $10K so they buy and use a stop loss. So the people that bought at $19K probably got stopped at $18K and so forth. However the institutions are buying up all these bitcoins which are sold under panic.

Sure, I believe that, but it's just as true (that institutions are buying the dip) at $18K as it is at $12K. Large position traders like institutions usually accumulate via TWAP or VWAP algorithms; they aren't going to commit to propping up BTC at any price level. And there simply isn't enough liquidity on spot exchanges to prevent a crash like that, no matter how bullish institutions are on Bitcoin.

I'd say the $12K range (a roughly 40% decline) is the maximum possible downside in that scenario.