Why is the BTC price dropping??

[J9901]

With all the news and media BTC is getting lately, there should be NO reason for BTC to drop below $600...

Seriously, go on /r/Bitcoin and daily there are new great news for Bitcoin daily.

I can understand if the price just stabilized at $600 but this downtrend is confusing me....

[1715374011]

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[1715374011]

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[shorena]

only good news? I dont know, the big news where bad the last days/weeks.


USMS sells Silk Road coins which makes people scared whoevers buys them will just dump them and the price falls.

GHash.io had/has close to/over 50% of the Hashpower of the network, which makes people afraid of double spend attacks, which would drop the price drastically.

Those are the big news lately. I am very surprised that we are not back to 400$

[bizzel]

With all the news and media BTC is getting lately, there should be NO reason for BTC to drop below $600...

Seriously, go on /r/Bitcoin and daily there are new great news for Bitcoin daily.

I can understand if the price just stabilized at $600 but this downtrend is confusing me....

What downtrend? A 10 dollar drop is not a downtrend, it's just normal fluctuation. There are a bazillion reasons for BTC to drop below $600, just as there are reasons for the price to rise. It's worth what people are willing to pay for it.

[Bit_Happy]

BTC has been rising for ~2 months, the low was ~$340....it is not falling....will be close to $700 soon. 

[J9901]

only good news? I dont know, the big news where bad the last days/weeks.


USMS sells Silk Road coins which makes people scared whoevers buys them will just dump them and the price falls.

GHash.io had/has close to/over 50% of the Hashpower of the network, which makes people afraid of double spend attacks, which would drop the price drastically.

Those are the big news lately. I am very surprised that we are not back to 400$

1.The identity of the bidders were accidentally leaked. Most were pro-Bitcoin. They will not purposely bid so low as to drop the price down. The fact that we have so many pro-BITCOIN bidders is an undoubtedly great indication that the SR coins will sell ABOVE market value.

2.The GHash.io debacle has stabilized. We're no longer under any threat of a 51% attack..and considering many believed the dangers were completely blown out of proportion doesn't help it's case.

3. On a side note, Apple has now approve Bitcoin wallets in the AppStore. Gyft on the Appstore now also accepting BTC. In the past few days, TigerDirect amongst other companies have allowed Bitcoin as payment. Etc..

[amitrwt]

As someone once explained me when I asked the question " Why the price is falling ? " his answer is to the point and accurate. He said it falling because " Someone is selling at that rate ". yeah this is exactly the case now.
  I won't call it a fall its just 10-15$ short of 600 and I won't be surprised even if it goes down to 550$ i might call it a fall if it sinks to 530$ or below but there are enough reasons for that. auction , ghash +lots of other crap.

[Bit_Happy]

only good news? I dont know, the big news where bad the last days/weeks.


USMS sells Silk Road coins which makes people scared whoevers buys them will just dump them and the price falls.

GHash.io had/has close to/over 50% of the Hashpower of the network, which makes people afraid of double spend attacks, which would drop the price drastically.

Those are the big news lately. I am very surprised that we are not back to 400$

1.The identity of the bidders were accidentally leaked. Most were pro-Bitcoin. They will not purposely bid so low as to drop the price down. The fact that we have so many pro-BITCOIN bidders is an undoubtedly great indication that the SR coins will sell ABOVE market value.

2.The GHash.io debacle has stabilized. We're no longer under any threat of a 51% attack..and considering many believed the dangers were completely blown out of proportion doesn't help it's case.

3. On a side note, Apple has now approve Bitcoin wallets in the AppStore. Gyft on the Appstore now also accepting BTC. In the past few days, TigerDirect amongst other companies have allowed Bitcoin as payment. Etc..

Recent Bitcoin news has been strongly positive and prior to that Overwhelmingly Positive! 

[TERA]

Bitcoin moves due to technical forces; not just news.

[Skele]

After the storm comes a calm, i heard some rumors that there would be a huge selling, or more correctly, an auction of BTC by the end of

this June. The very few people who knows this are selling before the price falls maybe to $400 or less, then it should rise to 600-700, maybe

1000 in a short while...

[bizzel]

After the storm comes a calm, i heard some rumors that there would be a huge selling, or more correctly, an auction of BTC by the end of

this June. The very few people who knows this are selling before the price falls maybe to $400 or less, then it should rise to 600-700, maybe

1000 in a short while...

That's not a rumor, it's just news. There was a temporary drop when the news came out. Besides that, we even know who's bidding. Everybody knows about this.

[cooldgamer]

Probably weak hands getting nervous as the big auction comes up.  We'll go back up after it's all taken care of, as always

[ThatDGuy]

Probably weak hands getting nervous as the big auction comes up.  We'll go back up after it's all taken care of, as always

Makes a lot of sense.  I think next week and especially after the auction on Friday should be worth watching.

[CEG5952]

Meh, weak hands get nervous when the price doesn't go up -- doesn't have to be news. 

Personally, I think we have hit a local bottom here. Waiting for confirmation...

[MatTheCat]

Meh, weak hands get nervous when the price doesn't go up -- doesn't have to be news.  

Personally, I think we have hit a local bottom here. Waiting for confirmation...

Meh, 'weak hands' pile into leveraged long Bitcoin positions paying usurious interest rates, and then are forced to sell when other traders stop buying Bitcoin and keep pushing prices up. A consolidating or regressing market is no market for a leveraged long trader. Meh.

Meh.

Weak hands

Meh.

[CEG5952]

Sure, I'd be careful with leveraged longs, especially at the crazy rates at BFX. Nonetheless, momentum hasn't picked up to the downside. Should be some bounce. Not saying we're going to the moon here.

[keithers]

I don't think that the prices have dipped a bit as a result of a lack of good news.   There have just been a lot of holders that needed to take some profits off of the table.   

Also there are a lot of people that bought at $800+, and have decided to cut their losses.   IMO, (as most people here feel as well), everyone should just be maintaining their current holdings.   Obviously you can add more coins if  you feel the time is right, but selling right now is selling yourself short.

[CEG5952]

Obviously you can add more coins if  you feel the time is right, but selling right now is selling yourself short.

Well, that all depends on whether we go up or down from here, eh? My money is on up...but I'm also long from $550 or so, so I've got some good cushion there. Kicking myself for not taking profit > $600.

[Bit_Happy]

2018: (For example)  "Bitcoin Price: Bearish Pennant Portends Weekend Losses"  (CCN)
Markets Panic: Bitcoin Hits Lowest Since October 2017...  (cointelegraph.com  Nov 20th)

2014: "there should be NO reason for BTC to drop below $600..."  


Speculation?
Yes, I predict more panic, a small rally, much more panic, followed eventually by almost painful levels of boredom, and then, finally...
Bitcoin will rise again, and the experience will be amazing.

[bitcoin31]

There is a lot of factor why bitcoin dropping the value and we need to stop that factor. But the most cause of dropping of the bitcoin is the investor who still panic until now. Because price now decreased more again if you are aware to the value of the bitcoin.

[Baofeng]

There is a lot of factor why bitcoin dropping the value and we need to stop that factor.

Like what factor? The Bitcoin Cash war? We can't stop those big boys playing with their money and their big ego. The Bakkt announcement of their delay? We can't do anything about it s well.

Funny looking back 2014 and hearing the same sentiments today. It only make sense that crypto is going on a cycle, like history repeating itself, I know others would argue that we can't compare them or not a good indication for future success. But what I'm seeing is a cycle, so it we bottom this year then expect that 2019-2020 is the start of the new bullish cycle again.