Why Bitcoin Dey Come Down?

[Agbe]

As of today di price of bitcoin dey drastically coming down and many of us e no know weti be di cause. And they are many factors that can lead to the coming down of bitcoin price. If the whales sell their bitcoins wey dem get, bitcoin price go come down and the following links also explain some of the reasons why bitcoin price dey come down.
https://cointelegraph.com/news/why-is-the-crypto-market-down-today
https://bitcointalk.org/index.php?topic=5463640.0
The price will still come down again before the end of the year and it will still go up again. So if you want to accumulate more bitcoin BTC in you portfolio this is also the best time to so.

[1714646323]

1714646323

[Ever-young]

I been see this thing for the Bitcoin discussion board way u also add the link for the thread.
For people way no go get time read the news make i help break am down:
The say SpaceX way be one big company so, way nah one of the world Richest man be the Oga at the top way him name nah Elon Musk, don sell their Bitcoin way them been buy from 2021 to last year way be 2022 them been buy am as company assets and investment (watin fit give them profit)but diz year now according to the News dem say dem don sell $373M this nah better big money for our own local currency, if we calculate am eh go reach that kind; 844 way our naira they x $373,000,000 nah about #314,812,000,000 (Three hundred and fourteen Billion, Eight hundred and twelve million naira). so the company SpaceX sell Bitcoin way worth diz kind moni way make the crypto market come they shake, U check am nah, when they kind money comot for some where eh go really affect the market, no matter the kind heavy money way they inside.

So like now, as other don talk am, if you been they wait make bitcoin price drop, Spacex don help lower the price small again for onah, you fit carry you budget now as u fit carry go fetch any amount of bitcoin way u go fit afford, the price fit drop pass so, eh fit still go up again, nah just matter of time. and me i believe say this kind news small time the market fit still recover back, so any move way u wan make way concern to buy bitcoin now think am well make u no go put money way u plan to carry do something next month come they expect to take am back that time, the market fit surprise you, so to avoid those kind surprise reason the kind money way u wan put inside.

[Adbitco]

Usually if we see something like this we don't get moved any longer because we know say na normal thing and the market go still balance without delay.. if the Matter too much e go last 5 months and na so e be for the increase as well, e go last for some period of time after which the market go still drop down. As person wey be believer of bitcoin you no supposed panic or look the market because I know say na only traders dey always panic for market.

[Charles-Tim]

This is the best time for people to continue NCA. People should not panic and sell. I understand how it is not easy as bitcoin fall from almost ₦28 million to around ₦22,297,000 which is the price when I posted this. Nobody knows if the price of bitcoin will continue to fall, but continue to NCA and wait for the massive bull run period to begin.

[CryptSafe]

OP I believe say many factors dey cause as e be like this. Unto say halving na next year,  I believe say there is uncertain about the Bitcoin price but however, there are also some people strategically manipulating the market I believe they are taking advantage of the market situations as well selling to drop the price then they buy back and hold till after the halving as usual and expected bull run does come then they start selling to take profit. This happens all the time and in a way people would not understand how it works.

This is the reason I don't listen to fud anymore because that is also a strategy by them to confuse people who are weak hands and they end up selling low and the whales buy them all at low prices and hold them to take big profit.

[Gozie51]

This kind drop no dey surprise me again for this business. I just know say price some come down before the next halving by whatever means at least I don notice am wella. If to say no be Elon musk cause am, you go still see one influencer go just come talk something about bitcoin. Maybe for example Warren buffet go just wake up from no where say him no like bitcoin and you go see bitcoin price for ground then the build up go start again. Na the circle be that wey still make people see am as manipulation by the whales to make people fear to dump so that the price go drop and it can trigger there buy order.

But one thing wey dey real be say the price go recover and hit ATH. No panic if you have extra cash to hold your self.

[Coyster]

This is the best time for people to continue NCA.

Lol, do you mean "Naira cost averaging", i almost thought it was a typo, but it might be a good term to use in our local section rather than the customary "Dollar Cost averaging".

Having said that, i don't really try to find out the reasons why Bitcoin price drops, i think it is unnecessary because you will read so many speculations/reasons, but you don't know which is accurate. I understand that it might matter for day-traders and short term investors because they buy and sell pretty fast for quick profits, but if you are a long term investor, it is either you take the chance to buy more or you ignore the dump.

[Kodec5]

The price will still come down again before the end of the year and it will still go up again. So if you want to accumulate more bitcoin BTC in you portfolio this is also the best time to so.

Bitcoin keep dropping in price... Wetin dey wallet still small I need to accumulate more for the next bull run any time e happen

[Gozie51]

Having said that, i don't really try to find out the reasons why Bitcoin price drops, i think it is unnecessary because you will read so many speculations/reasons, but you don't know which is accurate. I understand that it might matter for day-traders and short term investors because they buy and sell pretty fast for quick profits, but if you are a long term investor, it is either you take the chance to buy more or you ignore the dump.

Na true you talk, we no need worry our head over wetin cause the price drop in bitcoin. As we already dey hear two said of the story regarding Elon musk and some say him never sell the btc . Na fud and fomo dey move this market, so whether true or false once any influencer go their handle make any statement, panic go start and sentiment before you know am piam price don change. This is why na speculative market and we need to dey do our own dey go but if to say the market dey regulated, e no go just dey change like camelion within the twitching of an eyelid.

[Agbe]

This is the best time for people to continue NCA. People should not panic and sell. I understand how it is not easy as bitcoin fall from almost ₦28 million to around ₦22,297,000 which is the price when I posted this. Nobody knows if the price of bitcoin will continue to fall, but continue to NCA and wait for the massive bull run period to begin.

Exactly, today now bitcoin enter $25k and di price go still go down so na to find money buy bitcoin well now.

This is the reason I don't listen to fud anymore because that is also a strategy by them to confuse people who are weak hands and they end up selling low and the whales buy them all at low prices and hold them to take big profit.

You really tok well for this tok. Na so di matter just be and people wey no know nai dey sake for di market dey sell all dey have for the fear say dem loss all their coins for di bear market. But if dem try keep their coins for di period of di bearish and entered di bull market dem go happy again. Na just patient be di matter. As di whales dey sell nai be di cause of the downtime of bitcoin.

[sokani]

The price will still come down again before the end of the year and it will still go up again. So if you want to accumulate more bitcoin BTC in you portfolio this is also the best time to so.

Nothing dey surprise me again wen it comes to Bitcoin price, di drop in price no be issue at all and no reason to panic, sef na beta opportunity for some pipo to grab a bag. Dem dey attribute di sharp drop in price of Bitcoin to di $373 million Bitcoin wey Elon Musk SpaceX sell, some say na Evergrande bankruptcy while odas dey speculate say na big whales wey dey sell. But me dey see di current market condition as a blessing in disguise for some pipo. If person get beta money na to just take advantage di market right now, buy and hodl because we fit no see this kind opportunity again and with di bull season just less dan a year, person go still make beta profit.

[Ever-young]

This is the best time for people to continue NCA.

Lol, do you mean "Naira cost averaging", i almost thought it was a typo, but it might be a good term to use in our local section rather than the customary "Dollar Cost averaging".

Truth be told, if no be this ur msg i for don ask watin be NCA as nah today be the first day i they come across that kind word, nah DCA I sabi.

Well even for this bloody chart way i they see so, I still mind the amount way i go put in, make eh no go hook me for troat when the price of bitcoin drop pass as eh already dy, bcuz me self no fit predict watin go happen again for the time to come. Nah why eh good for us even Newbies to just they with the NCA pattern way professional don see am as the koko

[Sim_card]

No matter say I just come this forum not quite long,I still understand say this na strategy wey this whales dey come up with so that people wey dey do follow follow for bitcoin,go fear sell off their coins for the whales to buy them back. Imagine say Elon sell him bitcoin them wey worth $373M at 28k+ and now the price don fall to $25k. If Elon won buy back the quantity wey he sell,him don make profit be that o abi una no see am like that. No matter anything wey happen to bitcoin price,I no shake because I understand say na so the price dey go up and down. Where I go fear na if we reach 2025,the price no go high as people here dey talk. Opportunity to buy more bitcoin for the next bull run,no dull yourself go sell because of say you dey fear say the price don dey drop and fit no pump again. If not na you loss.

[Agbe]

The price will still come down again before the end of the year and it will still go up again. So if you want to accumulate more bitcoin BTC in you portfolio this is also the best time to so.

Nothing dey surprise me again wen it comes to Bitcoin price, di drop in price no be issue at all and no reason to panic, sef na beta opportunity for some pipo to grab a bag. Dem dey attribute di sharp drop in price of Bitcoin to di $373 million Bitcoin wey Elon Musk SpaceX sell, some say na Evergrande bankruptcy while odas dey speculate say na big whales wey dey sell. But me dey see di current market condition as a blessing in disguise for some pipo. If person get beta money na to just take advantage di market right now, buy and hodl because we fit no see this kind opportunity again and with di bull season just less dan a year, person go still make beta profit.

Yes but some people still dey fear because of the things dem wan do at the moment and not because of the market price. Me sef this morning I come dey fear sae, di unit I wan sell hold body go come down well well. So with dat I come sell am and really later when I checked omo di price chocked me oo, e come down wella. And because of dat many people dey fear if not for general market, people for no fear ar all. Please make everyone hold am keep if you no get serious thing to do but you fit take small unit like 0.01 dey hold body  .

[Zanab247]

I think demand and supply are the major thing that is causing BTC dump and pump in the market, which is no longer a new thing to BTC holders in the society than to summon courage to stand against the bear market by holding for bull to occur before they can sell to make money. I believe the new price will not take a long weeks before it will start increasing again to give those who are panicking for the dump to have rest of mind that massive pump will surely happen before the end of this year so that their efforts of holding will not be in Vail.

[DaNNy001]

Me self don notice the drastic drop on the price of Bitcoin and for me as I don already no say Bitcoin na volatile asset I no really dey bother my self with all these stuffs because I no well say the price go eventually go up again just be say na only matter of time nai go tell. But this drop sef na another wonderful opportunity to even buy Bitcoin sef because as e drop if you buy your value of Bitcoin go dey increased wella.

[Abu-Naim]

The price will still come down again before the end of the year and it will still go up again. So if you want to accumulate more bitcoin BTC in you portfolio this is also the best time to so.

I am just Suprise how bitcoin price drops drastically like this within some hours. And I wonder why Elum sell off this huge amount of bitcoin where some people are willing to buy more, did he find anything bad about it? or just for his selfish interest since he is a supporter of altcoins?

[CryptSafe]

This is the best time for people to continue NCA. People should not panic and sell. I understand how it is not easy as bitcoin fall from almost ₦28 million to around ₦22,297,000 which is the price when I posted this. Nobody knows if the price of bitcoin will continue to fall, but continue to NCA and wait for the massive bull run period to begin.

Exactly, today now bitcoin enter $25k and di price go still go down so na to find money buy bitcoin well now.

This is the reason I don't listen to fud anymore because that is also a strategy by them to confuse people who are weak hands and they end up selling low and the whales buy them all at low prices and hold them to take big profit.

You really tok well for this tok. Na so di matter just be and people wey no know nai dey sake for di market dey sell all dey have for the fear say dem loss all their coins for di bear market. But if dem try keep their coins for di period of di bearish and entered di bull market dem go happy again. Na just patient be di matter. As di whales dey sell nai be di cause of the downtime of bitcoin.

Well I believe say all these settings na strategy by these men dem wey Sabi the system and how them they take dey run their parol Na wetin these newbies them wey dey come onboard Bitcoin matter mk o understand. We wey don tey small for the system don know how dem dey do am and our eye don open so dem no fit panic us to sell again. Na people dem wey no strong Naim dem fit fall for their fud. Whales dem know wetin dem dey do to get those panic sellers dem.

[Agbe]

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Weti dey Happened here abi dis guy miss road. I no really understand am here. Here na service board, or the topic look like bounty campaign? Jesus Christ, wonderful shall never end oo. E be like say this one no be Nigerian sef, probably na from Niger Republic, and na because of the war there im come miss road come land for here. Sorry guy, I believe say na mistake you do so just delete your campaign application shapally.

[Majestic-milf]

 One of the factors wey dey affect price of Bitcoin nah investor sentiment. And as e be, the news say Space X sell off e BTC nai fit folo put hand cause dis dip, but I doubt say nah him go be the main reason. All the same, no be today wey BTC price begin shake and I feel say e no go be the last, so wen traders and investors carry dis fact say Bitcoin nah very volatile currency, e go help reduce some of the panic sales wey we dey observe.
For now things look bleak for Bitcoin because in a short space of time, in a matter of minutes, BTC price drop sharply and de last time such a tin happen nah for 2021 wen price plunge to $43k.
 I still get the feeling say e go increase in price and next week go dey favorable.