cryptocurrency forum

Why has Bitcoin dropped so much?

Discussion in 'General Discussion' started by TiffanyAliano, Feb 5, 2018.

  1. TiffanyAliano

    TiffanyAliano Contributor

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    Besides the whole South Korea and regulation issue, why does bitcoin continue to drop?
     
  2. Dave

    Dave Contributor

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    Because of that plus other negative crypto currency news going on at the moment in the media, some investors are getting nervous and pulling funds out of crypto currency.

    My feeling is it's a temporary thing and the crypto market will recover shortly (I hope). So why not make the most of the low prices and buy more now! :)
     
  3. MAGA

    MAGA Master of Crypto Staff Member Super Admin Premium Member

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    Honestly I don't know why its going this low, expected a bounce by now with strong support. Guess everyone wants to see what happens tomorrow during the SEC meeting
     
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  4. Dave

    Dave Contributor

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    Be aware, I've seen some people saying the SEC meeting has been postponed/rescheduled from today 6th Feb to 14th Feb, but as far as I'm aware this is not true!

    I just checked the SEC official website and it's still scheduled for today 6th Feb.
     
    Last edited: Feb 6, 2018
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  5. xyzzy

    xyzzy Master of None Staff Member Super Admin

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    Thanks for that information, Dave.
     
  6. Cryptologist

    Cryptologist Contributor

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    I don't think it would stay low for too long. Bitcoin has crashed many times in the past, but it has always rebounded much more. In 2011, BTC dropped from $32 to $2 (about 94%); another temporary 36% crash in 2012; 79% crash in 2013 as the value dropped from $266 to $54; a slow crash of 87% between late 2013 and January 2015 where prices kept dropping from $1166 to $170; 49% crash in 2014; 40% crash even last year September 2017 from about $5000 to $3000. So, there have been bigger crashes in the past and this 70% crash from $19000 to $6000 is nothing compared to the previous crashes. Still a very stressful decision to HODL right now.
     
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  7. Carlos Lopez

    Carlos Lopez Contributor

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    Any news of when is going to get higher ?
     
  8. Cryptologist

    Cryptologist Contributor

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    No one knows for sure when it would go higher. The media is doing a great job in spreading FUD, so every news is a pain to read :(
     
  9. CryptoRyuzaki

    CryptoRyuzaki Scholar

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    Thanks for mentioning this - This information would calm the nerves.
     
  10. Abril Keys

    Abril Keys Contributor

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    I have my fingers crossed and let's hope for the best
     
  11. Cryptologist

    Cryptologist Contributor

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    Still very stressful since I can't stop checking the prices like every 5 minutes lol
     
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  12. GuardianofCrypto

    GuardianofCrypto Master of Trolls Staff Member Super Admin

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    Welcome to the club lol
    [​IMG]
     
  13. Cryptologist

    Cryptologist Contributor

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    Haha, very accurate.
     
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  14. sasory

    sasory Contributor

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    Last edited: Feb 9, 2018
  15. XIntel

    XIntel Contributor

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    Hype, News, Hackers etc.
    If you looked at the history chart of bitoin, it has actually dropped 3 times, then rise up stronger.
    Maybe now is just that crushing period.
    Just HODL!
     
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  16. CryptoRyuzaki

    CryptoRyuzaki Scholar

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    Looks like cryptocurrency is on a slow recovery phase with occasional drops and gains. It doesnt seem to crash any further. HODL.
     
  17. Sean Lockwood

    Sean Lockwood Beginner

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    Every crypto have it's ups and downs, but be aware of crashing all the way down. It will happen some day in future, probably not in next few years, but it could get crashed as 2 years before from 1000+$ to 160$.

    I don't want to say anything bad, but just don't be greedy. People on markets are earning millions because of the greed.
     
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  18. GuardianofCrypto

    GuardianofCrypto Master of Trolls Staff Member Super Admin

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    It's recommended to take profits every now and then.
    You can also take out your initial investments once it is profitable and let the profits ride to the moon.
     
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  19. Kilara

    Kilara Beginner

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    Bitcoin has crashed many times in the past but it has always rebounded much more
     
  20. geoffreycelen

    geoffreycelen Contributor

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    hahahahahahahaha! Yeah Right
     

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