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[Kambas]

So what happened exactly and why did Bitcoin drop in value?

The lack of certainty about the Chinese banning exchanges has led to more traders selling off (dumping) Bitcoin for fiat currencies. China currently has the largest Bitcoin trading volume as they do most of the mining.

A large amount of bankers have criticized Bitcoin, saying it has "no value" which led to a negative view of Bitcoin from the general public.
Ironically fiat currency also has no value, on contrary these are debt notes and coins backed by NOTHING but they won't mention that when they attacking their competitor (BTC).
Chase bank CEO called Bitcoin a "fraud" which led to a lot of negative coverage on the news and having a impact on the price.
Seems the banks feel threatened by cryptocurrencies because they cannot control it so this is a classic example of how competition behaves and tries to drag down their opponent.

The slide will most likely continue until China officially announces it's next moves.

Regardless of this negativity, Blockchain is arguably the technology of the future and when the dust settles again things should go back to normal and the price will gradually rise again. This is never certain as crypto is still considered very volatile but one has to consider the market that has emerged and will continue to support trades.

Perhaps this is again a good time to invest into Bitcoin before it climbs back up the chart.

 

[Feret]

Bitcoin has always been unstable, but it is still growing, and most importantly, I think, keep up with these changes, invest when you need it, and withdraw when profitable.

 

[KarthikP]

Bitcoin is almost 10k usd which confirms that it has lot of potential to even touch 100k usd in the coming days , maybe after some years or even months.

 

[Kubiat-Abasi]

Assuredly! Bitcoin as the King of cryptocurrencies would definitely rise again. The unpredictability, inconsistency and fluctuations of Bitcoin is very normal and applicable to other coins. There's no coin that can remain its value permanently without having a change or dynamism. It is always good to follow indicators technically to curb or salvage losses.

 

[Wisdom01]

For every bearish market there is always a bullish run attached so no need to panic ,I believe that it will improve in price and even if Bitcoin is currently dropping no doubt institutional investors would want to take advantage of the dip market and invest more in the market to make that drastic gains in the way they want

 

[MayorKayz]

We should always put our mind at rest. If bitcoin should fall today. The price will always rise back.
Bitcoin is a better investment to gold. As we know that gold is an investment that never depreciate, it always rise.
This is same for bitcoin but it is far better than gold. On bitcoin there is tendency that the price of bitcoin will rise more than 200% after it regained it's previous highest price.

 

[Wisdom01]

We should always put our mind at rest. If bitcoin should fall today. The price will always rise back.
Bitcoin is a better investment to gold. As we know that gold is an investment that never depreciate, it always rise.
This is same for bitcoin but it is far better than gold. On bitcoin there is tendency that the price of bitcoin will rise more than 200% after it regained it's previous highest price.

gold dosent have that high volatility compared to Bitcoin ,that's the reason many are majorly wishing for the price to increase faster on a high level , if not you would have seen people looking more on gold to invest just to make that much profit , but gold have been staying otherwise with look of things

 

[gammarays]

There will be always a increase in price of bitcoin after a drop in price. Same thing happened last month too. The price of bitcoin was at 3k USD before 2-3 months , and now it is almost stable at 10 USD. So if the price drops , the next scene would be the rise in price , it's a continuous process , patience is the key.

The crypto space is dynamic and unpredictable. Our valued BTC was around $10 the time the post I quoted was made. Anyone who got 10 BTC then would have been bouyant financially. I pray we Don't miss good opportunities when they pass by. So many things are happening so one needs to be in the right place at the right time.

 

[Kambas]

The crypto space is dynamic and unpredictable. Our valued BTC was around $10 the time the post I quoted was made. Anyone who got 10 BTC then would have been bouyant financially. I pray we Don't miss good opportunities when they pass by. So many things are happening so one needs to be in the right place at the right time.

Problem is the global economy is going to shambles! War never helps the markets so we can probably expect the crypto markets to sink even further as things escalate around the globe causing more instability and less assurance.

Bitcoin will only stabilize when investors are comfortable in this market and currently this is not the case, more and more people are selling off their Bitcoin which effects all other altcoins.

 

[Wisdom01]

The crypto space is dynamic and unpredictable. Our valued BTC was around $10 the time the post I quoted was made. Anyone who got 10 BTC then would have been bouyant financially. I pray we Don't miss good opportunities when they pass by. So many things are happening so one needs to be in the right place at the right time.

exactly the crypto currency space is really dynamic and unpredictable , I think that's why it's time for many to always ikvest at the right time ,if the person wants to make gains ,he or she should know when to invest and others ,the cryptocurrency market is really hard to predict ,most times things don't meet expectation

 

[Wisdom01]

This is just a question with an answer that we already know. Among all the crypto coins that are in existence, we all know that bitcoin is among the ones that have the highest tendency of rising whenever it falls. The big whale with a lot of bitcoin in their wallet don't usually feel uneasy whenever bitcoin falls, they know it will rise again

yes I believe Bitcoin have both bearish and bullish run ,so we should always be ready for these days ,I think some people do invest down in the bearish days ,so that when the price goes bullish they would be able to earn more money , cryptocurrency comes with great risk we must actually note that

 

[achawaskey]

The reason why we have market is to buy or sale, and goods can be in high price or low, there are factors that contribute for a commodity to be high or low. Bitcoin is one of them, and it happens that it is used as an exchange of service in form of digital, unlike flat currency. It is normal for bitcoin to fall or rise, because that is what the market is.

 

[BullyMaguire]

In this thread we can see the natural cycle of bitcoin also a reminder that we shouldn't be scared when the price drops because it just happens. We need to learn that people needs to take their money so they would sell so they could buy from cheaper again to profit, that's just how it is with crypto

 

[Wisdom01]

In this thread we can see the natural cycle of bitcoin also a reminder that we shouldn't be scared when the price drops because it just happens. We need to learn that people needs to take their money so they would sell so they could buy from cheaper again to profit, that's just how it is with crypto

obviously I think the market isn't going as expected , but that doesn't mean we would end up in loss like that ,we could still make profit if things comes back to normal ,the risk is very much high ,we should simply monitor and watch the way we invest properly tho

 

[BullyMaguire]

obviously I think the market isn't going as expected , but that doesn't mean we would end up in loss like that ,we could still make profit if things comes back to normal ,the risk is very much high ,we should simply monitor and watch the way we invest properly tho

Indeed, me personally im trying and doing my best to accumulate while everything is cheap i am hopeful that it would go back or even go beyond their previous prices when we get another bullish season best to buy the top coins aswell so there's more guarantee that they will survive even they bad events happen

 

[Xrin Nightfall]

There will be always a increase in price of bitcoin after a drop in price. Same thing happened last month too. The price of bitcoin was at 3k USD before 2-3 months , and now it is almost stable at 10 USD. So if the price drops , the next scene would be the rise in price , it's a continuous process , patience is the key.

Yes. To put it another way, the supply and demand for a certain currency can cause it to fluctuate. The majority of the world's economies are traded based on a variable exchange rate regimes, which means that their prices shift dependent on demand and supply in the market for foreign exchange. This accounts for the majority of the world's economic activity.

 

[Pousinha]

These day, I'm reading the predictions of the famous trader Peter Brandt. Time ago, he said bitcoin has 2 possibilities (50% percentage each one): it can reach 250K dollars and it can drop to zero. In any way, we know how hard is to predict in this field. Maybe nor one nor the other prediction can become real.

 

[magnus2022]

Bitcoin will remain low for next seven months or so. I believe it will not pass 30,000 dollars. There is high level of uncertainty in world economy. Russian-Ukraine conflict have brought inflation and instability in oil price. I don't think that China banning cryptocurrency is the cause of bitcoin fluctuations and bearish trends.

 

[Sammydan]

I have been reading a lot of articles on cryptocurrency for a while now but I can't find out in certainty while it's price is falling. What I know is that bitcoin price will rise again. To others, it may be different, but to me, this is an opportunity to invest in bitcoin.

 

[Trebor]

As of me I know that bitcoin price will soon drop and drop again but eventually after all the wrangles of the China and all the inflation bitcoin will raise again like nobody's business. Better are those who would have invested by that time.

 

[wannabfrens]

Bitcoin has always risen after a drop so definitely it will always rise back up. Historically it's been proven that all coin prices will shoot up during the bull market and Bitcoin is no different. We just have to collect as much Bitcoin as possible during the bear market and wait patiently for the bull market to begin, when all coins will go up in price. People still have a lot of positive sentiments toward Bitcoin so definitely they will pump funds into the asset. Any asset that is backed by positive sentiments will definitely increase in value.