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Why Is Bitcoin Falling???

Discussion in 'Bitcoin Investments | Discussions' started by Prezzy, Aug 5, 2018.

  1. Prezzy

    Prezzy Leader Protector

    If you have been an investor in Cryptocurrency or even an admirer (if there's any such thing) , then am sure that you've had reasons to seek answers to why Bitcoin is falling.

    The knowledge of the reason for which bitcoin is falling at any point in time will help you to determine whether or not to HOLD/SELL!
    That's what it is all about and that's what this thread is about
    We will be updating the most recent insights into Bitcoin price judging from why it is falling at any point in time.

    Previously, we have had things like this:

    6 Reasons Why We're Seeing The Price Of Bitcoin Falling

    Review - 4 Main Reasons Bitcoin Dominance Is Rising And Altcoins Are Falling

    But the problem with them is that they are hardly visible and hence don't live up to their purpose.
    With this ONE THREAD UPDATE ON BITCOIN BEARISH RUNS, I HOPE TO BRING CONSISTENCY IN REPORTS.

    You are welcome to contribute as well and I look forward to special participation from all of us especially the advanced among us @ gbolahan @philipj and Co.
     
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  3. philipj

    philipj GrandMaster Crypto Guardian

    Nice one. Cryptocurrency market is falling generally. But the rate at which altcoins are falling is higher than the rate of bitcoin, thereby increasing the dominance of bitcoin in the bear market
     
    gbolahan and Prezzy like this.
  4. Prezzy

    Prezzy Leader Protector

    Quite right
    Btc dominance used to give me concerns. But not anymore. I am now convinced that It will take more than just a good or even better technology to displace bitcoin from its position
     
    gbolahan likes this.
  5. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    Can something displace Gold???
     
    Prezzy likes this.
  6. Prezzy

    Prezzy Leader Protector

    Lols. That's right
     
  7. Btc
    Isn't going any where.....
    It will fluctuate that's for sure but just like @gbolahan said can something displace gold
     
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  8. Bitcoin has no physical description and that will always be a concern for the regulatory agencies.. More reason why bitcoin ETF has seen nothing but "REJECT" of all the application they've submitted. Bitcoin market can easily be manipulated, as we've seen over time.
    Bitcoin reached an all time high on the 16th of December 2017, on the 17th it started falling hard by more that 150%/at the beginning of 2018 and a further 120% till date. That's crazy.
     
  9. What we're seeing at the moment is a classic case of pump and dump. Huge profits made for those that are betting short term than those that are betting long term. Now, can any one of us bet on the price of bitcoin remaining at 7000+ for 48hrs ?? I'm sure the answer is no. But if you're among the organizations(group of people with the same goal in agreement) that owns about 30-40percent of the entire bitcoin circulation. You can influence the market at will.
     
  10. For now, bitcoin cannot and should not be compared to gold..
    With a little more effort and measures put in place, bitcoin could become the evolution of the entire monetary system
     
    Prezzy likes this.
  11. Prezzy

    Prezzy Leader Protector

    there is no such thing bro.
    1-5% of all bitcoins in the world could be possible but not 30-40%.

    I hardly think there is any country in the whole whhose citizens alone has up to 3% of all bitcoins
     
  12. Prezzy

    Prezzy Leader Protector

  13. Prezzy

    Prezzy Leader Protector

    so why is bitcoin falling now?
    Today: 8/11/2018

    FOMO!
    or is it rightly called ANTI-FOMO
     
  14. Note: "group of people with the same goal in agreement"
    Also, thanks for the bitcoin vs gold link.. I'll take a closer look at it.
     
    Prezzy likes this.
  15. Prezzy

    Prezzy Leader Protector

    I agree with you.
    The government will do anything if they have been advised that crypto will threaten their hold on the economy of their countries.
    China and US ban is a good example
     
  16. CarlosR

    CarlosR Jackobian

    I don’t think that the downwards movement started from 7,441 USD has come to an end yet. The correction has been going on for 38 hours. The last one went on for 74 hours. We need to test 6,000 USD because many altcoins have incomplete price models.

    The correction of the rise from 6,182 USD to 6,640 USD amounted to just over 50%. From fibonacci ratio forex at 6,550 USD, I expect to see the rate return to 6,235 USD. If this part of my forecast comes off without a hitch, then after the price drop, we’ll most likely see a flat for 14 – 20 hours. Then, in Saturday’s US session, sellers may be able to break 6,000 USD.
     
    Prezzy likes this.
  17. Prezzy

    Prezzy Leader Protector

    Alright that's the Spanish version... How about the English version please?
     
  18. wazzaap

    wazzaap Jackobian

    I believe the main reason of the drop is people have diverted their attention towards other Cryptocurrencies. They are seeing hope in the altcoins. Besides the price of Bitcoin has dropped drastically over the past year. Can you name other reasons for the fall?