what caused the bitcoin price to drop today?

[Vinaa77]

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

One of the causes of the decline in the price of Bitcoin can be said to be due to the decline in the world economy. But on the other hand a bear market always follows a bull market. This wasn't a sudden occurrence, but something the great whales did to make a fortune. The small pump that occurred some time ago has also happened before, because after that the price will suddenly dump.

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[Davian144]

One of the causes of the decline in the price of Bitcoin can be said to be due to the decline in the world economy. But on the other hand a bear market always follows a bull market. This wasn't a sudden occurrence, but something the great whales did to make a fortune. The small pump that occurred some time ago has also happened before, because after that the price will suddenly dump.

There are also effects or influences from other things apart from what you said, because apart from the whales who have started playing in the market, other investors are also still very reluctant to enter the market in conditions like now. So a bigger increase is very unlikely in the near future although there is always a possibility for Bitcoin to increase in the market when conditions start to change.

[ethereumhunter]

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

Are you worried about bitcoin dropping to $16k right now? What is causing bitcoin to go down right now is the panic that is happening to some people because they think that with the much negative news about bitcoin or crypto out there. The world economy is indeed shaken and it is a possibility that it will decline and it looks like it will impact bitcoin. But bitcoin will rise again, and you don't need to worry and stay patient. This is a normal correction that happens in crypto, giving investors an opportunity to return to investing at low prices because this may be their last chance before the price starts to increase.

[Jating]

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

Are you worried about bitcoin dropping to $16k right now? What is causing bitcoin to go down right now is the panic that is happening to some people because they think that with the much negative news about bitcoin or crypto out there. The world economy is indeed shaken and it is a possibility that it will decline and it looks like it will impact bitcoin. But bitcoin will rise again, and you don't need to worry and stay patient. This is a normal correction that happens in crypto, giving investors an opportunity to return to investing at low prices because this may be their last chance before the price starts to increase.

Yeah, I think everyone is worried about the sudden decline of the price, if I'm not mistaken, we are in sort of a good run reaching $21k then suddenly the price goes down hard to $18k then the current price that we have.

So there could be others feeling nervous because of the massive drop, nevertheless, for experience investors, this is a good time to buy and invest, for newbie, all they want is to get out. And so the best advise that we can give to them is not to worry and just be patience and invest and look for the long haul. We are in a bear market, so it's just normal to see the price going down to -70% or higher just like the previous bearish cycle.

[LittleBitFunny]

I believe bitcoin will bounce back when this incident is fully resolved and it will take some time to resolve the concerns of many traders.

Of course, this isn't the first time the market has crashed, and it's not the worst either. Everything heals with time and with bitcoin it only takes a little while for everything to be back to normal. I'm lucky I don't use FTX and this is more of an opportunity for me than it scares me, I bought some bitcoin when it hit $16k and will keep waiting for more drops in the future. The bears are not going away anytime soon and we should take advantage while others are scared.

but this is the worst thing that happened this year because after ftx crash in this week, even today news ftx is hacked again which of course will cause quite deep sorrow for traders who use ftx. but as you said right btc will slowly strengthen again and we just need to be patient to see it. This incident is also the second incident after Terra Luna, causing quite a pain in the hearts of traders because two major incidents occurred in the same year. therefore I agree with your opinion we can take advantage of this incident to be able to buy btc at a lower price this year and expect a strong bounce early next year.

From my point of view, crypto is an extremely risky and easily manipulated market, so there will always be reasons for a sudden market crash. I used to think that the bear market is not over yet and what will be the next reason why the market will continue to crash, when causes such as crisis, inflation or interest rates no longer affect the market too much, the market is indifferent to the old news. Then the market needs a more terrible reason for the market to continue to crash. The bigger the market, the worse the crash stories are, enough to cause the market to panic, which is what the whales want. It's opportunity and risk is up to one's vision, if one day binance collapses i wouldn't be surprised either.

[ethereumhunter]

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

Are you worried about bitcoin dropping to $16k right now? What is causing bitcoin to go down right now is the panic that is happening to some people because they think that with the much negative news about bitcoin or crypto out there. The world economy is indeed shaken and it is a possibility that it will decline and it looks like it will impact bitcoin. But bitcoin will rise again, and you don't need to worry and stay patient. This is a normal correction that happens in crypto, giving investors an opportunity to return to investing at low prices because this may be their last chance before the price starts to increase.

Yeah, I think everyone is worried about the sudden decline of the price, if I'm not mistaken, we are in sort of a good run reaching $21k then suddenly the price goes down hard to $18k then the current price that we have.

So there could be others feeling nervous because of the massive drop, nevertheless, for experience investors, this is a good time to buy and invest, for newbie, all they want is to get out. And so the best advise that we can give to them is not to worry and just be patience and invest and look for the long haul. We are in a bear market, so it's just normal to see the price going down to -70% or higher just like the previous bearish cycle.

It is better if they can manage their emotions and have good self-control in following the bitcoin price movement to see if there is an opportunity to buy bitcoin at another low price. If there is, they can try to buy it so that it can increase the amount of bitcoin they have.

People who are nervous about a downturn really need to learn more about managing their emotions so they don't miss out on buying bitcoin at low prices. If they buy late, they can regret it when the bitcoin price experiences an upward reversal. We still advise them not to worry and try to analyze to find the time to buy.

[STT]

Large events are not just one day, it'll repeat itself and echo until the energy is played out and resolved in the order books globally.   So like any large price action I expect it to reoccur and reappear in some shape or form almost as a requirement as we recover, its a demon which must be slayed a dozen times to be defeated pretty much.  Part of the reason why is to establish confidence and support so that we can later rise back from this negative blow, even if its not fair exactly or the blockchain itself its something that has to be played out until spent.

easily manipulated market

Funny thing is the Dollar is probably more of a manipulated market but a big deal is the giant amount of confidence the world has in one centralized dollar backed reserve system.  If that confidence ever falters then it leads to tectonic changes that alter the shape of the world.  Some think thats inevitable, to me crypto is quite ironic in that nobody exactly is in control and that too can bring fear but also its freedom from influence such as politics and fiscal budgets etc. that dominate dollar backing and trade done.

[Vinaa77]

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

One of them is because the influence of the world economy is chaotic, which makes investors withdraw assets from the stock exchange to be used in real assets.
But apart from the influence of the global economy. Of course negative issues can also make Bitcoin prices drop. Currently being developed the issue of Ftx.

[suzanne5223]

today i saw bitcoin price going down, and i want to ask everyone, what caused bitcoin to go down? Is it because the world economy is in decline or not?

One of them is because the influence of the world economy is chaotic, which makes investors withdraw assets from the stock exchange to be used in real assets.
But apart from the influence of the global economy. Of course negative issues can also make Bitcoin prices drop. Currently being developed the issue of Ftx.

Yes, the world economy is in chaos but if investors tend to withdraw their assets from the stock exchange to real assets as you said then the price of BTC should drop because it is also a real asset.
The reason the BTC price dropped started is because of the 4 years cycle and you're currently in a bearish market. However, the last bottom price of the market is always caused by issues from influencers exchange problems, sell of holding, etc

[roslinpl]

The price of the bitcoin was not a stable.The price of bitcoin was based on the decentralised platform.So the whale plays huge role in the price of the bitcoin.Whale are the people who made huge bitcoin in their wallet to manipulate the market,the will buy huge at the time of the price.The important of whale also had positive way of approaching.By the whale we can also buy the huge coins at the very cheap price.Holding is important one to gain good profit from it.

[Pejoh Asu]

In my opinion the main factor that makes drop prices is a difficult global economic situation, wherever we often hear many companies go bankrupt so that many people lose their jobs and make them have to sell all assets and cryptocurrencies, of course, are the fastest assets to produce cash.

[yohananaomi]

In my opinion the main factor that makes drop prices is a difficult global economic situation, wherever we often hear many companies go bankrupt so that many people lose their jobs and make them have to sell all assets and cryptocurrencies, of course, are the fastest assets to produce cash.

we cannot ignore it, because at this time the world is now entering a phase of economic crisis which may be prolonged. As a result, most of them no longer have purchasing power, because income is no longer available, and many are even no longer working. to support their daily needs, obviously by selling all the assets they still have, of course crypto assets are no exception, which you are right to say are very easy to sell to generate cash.
The decreasing purchasing power has also made the crypto market experience saturation and everyone is currently holding on and waiting for the situation to start getting better again, who knows when it might happen and certainly not soon.

[Lubang Bawah]

Today the price of dropping is around 3%, and getting closer to down below $ 16K, indeed the influence of the bankrupt FTX and the expert statement that the FTX case will soon occur containing a very large fear and panic, if the price at the $ 15k level certainly makes We must be vigilant and take action immediately.