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[NoLimits15]

Bitcoin gained it's popularity when it's value rose upto $20000 in late 2017. People were talking about it and were dying to get some bitcoins. And now, it's worth around $8000. What's the main reason behind it's price drop?

 

[leithy]

The value of any commodity depends upon supply and demand. In 2017 there was a lot of hype about bitcoin not just in forums but also mainstream media which focused on the price increases of bitcoin therefore fuelling demand. After the bubble burst mainstream media stopped reporting on bitcoin thus leaving demand only from those already involved.
Obviously many holders lost after the huge drop and they are probably sitting waiting for increase and not buying anymore thus decreasing demand.

 

[Averagejoe]

Bitcoin gained it's popularity when it's value rose upto $20000 in late 2017. People were talking about it and were dying to get some bitcoins. And now, it's worth around $8000. What's the main reason behind it's price drop?

Just look at the volume difference between 2017-18 and now, there's ample demand.

It's just the market sentiment I guess. This kind of movement seems normal pre-halving.

 

[BMF]

This kind of movement seems normal pre-halving.

What does halving mean?

 

[Averagejoe]

What does halving mean?

The number of bitcoin generated per block are going to be reduced by half. Right now, Whenever a new block is mined, miner gets 12.5 btc as a reward. After the halving, the reward will get reduced to 6.25 btc per block. Leading to less supply in market, making existing btc more valuable.

 

[Frankicha]

Bitcoin gained it's popularity when it's value rose upto $20000 in late 2017. People were talking about it and were dying to get some bitcoins. And now, it's worth around $8000. What's the main reason behind it's price drop?

Its normal to go up or down . its cannot stay on one position for too long . The catch is to buy in low and sell in high . And now is high because one year ago was near 3,500 . now is more than one time up . Whats the problem ??

 

[Balint098]

What does halving mean?

The decrease of reward by mining. For example, currently, for every block mined miners get a reward of freshly minted 12.5 Bitcoins. After the halving event this reward will be halved to 6.25 Bitcoins per block.

 

[Frankicha]

The number of bitcoin generated per block are going to be reduced by half. Right now, Whenever a new block is mined, miner gets 12.5 btc as a reward. After the halving, the reward will get reduced to 6.25 btc per block. Leading to less supply in market, making existing btc more valuable.

Yes thats it but its possible the price goes Up months before halving when of it people goes fear of missing . And i will not be surprised if after the halving prise goes not up but down ...

 

[Averagejoe]

Yes thats it but its possible the price goes Up months before halving when of it people goes fear of missing . And i will not be surprised if after the halving prise goes not up but down ...

Sure it's possible. We might see a parabolic rise in months prior to pre-halving. But if btc plummet after halving, so will other coins too.

 

[Frankicha]

Sure it's possible. We might see a parabolic rise in months prior to pre-halving. But if btc plummet after halving, so will other coins too.

Yes that can happen . But who knows really . I will like if we see new Altcoin season bullrun . Coins like xrp bnb bch , to goes 200 up to 400% risw , it will be awesome :)

 

[Averagejoe]

Yes that can happen . But who knows really . I will like if we see new Altcoin season bullrun . Coins like xrp bnb bch , to goes 200 up to 400% risw , it will be awesome :)

It will be : p

 

[KarthikP]

According to bitcoin price at present is decent. Yeah it was all time high $20k during December 2017. It was $3500 in 2019 initial days. And now it's 8k $. So Bitcoin price anways fluctuates , it can rise up 20k$ once again in future.

 

[Bilalgul]

It is simply the gap between the supply and demand of the Bitcoin that decides its price and the fact that many investors thought it to be a golden opportunity and they sold their bitcoin stocks then which resulted in downfall

 

[Mbwolf]

The number of bitcoin generated per block are going to be reduced by half. Right now, Whenever a new block is mined, miner gets 12.5 btc as a reward. After the halving, the reward will get reduced to 6.25 btc per block. Leading to less supply in market, making existing btc more valuable.

I heard about that before to be honest and they said one day they will mine all the bitcoin then it will be stable because the half of bitcoins is gonna dissapear or somethnig like that

 

[Frankicha]

But lest not forget that halving not make itself to price goes Up. The important thing is How manu people use btc at all, trade store buy and whetever.This is the main reason price goes up or down

 

[Brain]

Bitcoin is rising now though, though not getting to the $20k mark like what we experienced in 2017 because of media hype but it is sure rising steadily now

 

[kaleembilal]

The price drop was triggered by many factors and some of them were government initiatives while others were the mass liquidation caused by the selling of stolen bitcoin by hacckers

 

[Ewogboka]

Now that the halving is gone and miners now gets 6.25 bitcoin per block of mining , this means that the supply of bitcoin to the coin market in the last four years will be higher than the ones to be supplied in the next four years , if this is true, price of bitcoin may not drop significantly but rise more because more people in the Crypto world and less coins in circulation.

 

[Ewogboka]

Thats what baffles many investors. Imagine you bought bitcoin at the point of 20000$ hoping it will increase to higher heights you'll still not profit a penny till date. Its been over 3years now since that happen and now the prices dont even seem great because bitcoin is now at about 9500$ which is not good especially considering the last halving period that just past away

Do more research friend all business entailed risk, i took my time to read about bitcoin and some altcoin, after the 2017bdrastic drop people have invested and make money from it. Halving in the previous didn't have sudden impact on price of coins according to what I read. Take time to read about bitcoin halving.

 

[Ewogboka]

It is too early to see the impact of the halving now, bitcoin will rise in value if it will remain in trend , I don't how soon it will rise but as a newbies we should invest with caution especially spare money so that whatever the direction the price takes we won't be disturbed as such. I have invested $50 I can spare.