Why is the bitcoin price going down

[yutaro0504]

It is undeniable that the worldwide monetary business sectors are in strife because of the accompanying reasons:

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[Chibson]

The way the price of Bitcoin is going to rise in few months to come when shock a lot of people. This scenario has played out in 2017 and bitcoin later came out and attained all time high. This is the period of investment for wise people because Bitcoin may attain $80,000 this year.

 

[Nite]

Over the past decade, Bitcoin's price has fallen many times. However, thanks to the dedicated community, Bitcoin manages to rise back up again. Many people are taking this opportunity to buy Bitcoin at cheaper rates, as they strongly believe Bitcoin could reach $100,000 price in this year.

 

[btaliat]

This is the general problem of most coins and not necessarily bitcoins. This is the first time, however, that this will be happening. It had happend some years back and it came back stronger. So I won't be surprised if bitcoins triple its current price now. And it will be better for crypto investors never to sell their coins based on this bearish moment.

 

[Alexandoy]

I have noticed in some other forums that people are asking for the reason of Bitcoin's price plunge. It is a clear indication that the public has no clear basis for the fluctuation of prices of the crypto that they are like gambling on the dice roll. You buy crypto now and pray that the price would increase tomorrow.

 

[Nite]

Cryptocurrencies can experience enormous market swings. This time many are blaming Elon Musk's twitter presence for the drop in Bitcoin. The Tesla CEO posted a broken heart meme with #bitcoin, people are now speculating that he is breaking up with Bitcoin. His twitter presence is pouring cold water over the cryptocurrency market again.

 

[KURTAULI]

The decline in the price of Bitcoin is caused by the publication of a speculative statement by Elon Musk. Elon Musk does not like the fact that a large amount of electricity is used in Bitcoin mining This is one of the reasons why Bitcoin has lost 45 percent of its price. Elon Musk is a big manipulator he still continues to attack Bitcoin. At the moment the price of Bitcoin is $ 36000 and there is a big risk of further price reduction if manipulations and speculations continue. Also the funniest thing is that Elon Musk is very fond of doge which does not have good technology and is a normal shitcoin

 

[Nite]

The Tesla CEO, Elon Musk is known for causing ripples in the global cryptocurrency market. Just one tweet by him either sets the price of a coin soaring or brings it down to the surface. Bitcoin went down by nearly 7% soon after Musk's tweet. His last week's tweet also spiked up the Shiba Inu coin's price.

 

[Flow-er]

The price of bitcoin would go down if the bears are practically in control of the market. The demand and supply dynamics is what dive the bitcoin.

 

[funmi]

It took me sometime before I got to understand the dynamics of the cryptocurrency market I have been used to the forex market but not the cryptocurrency market. So when I first learnt about the cryptocurrency market I was misinformed to thinking the market takes one particular direction of going up and up alone. But this was not the way I understood the forex market to be as it was a market that has it ups and downs and it was this ups and downs that determines how you actually makes your money during the trades. So some people makes money when the .armed is moving up and some also suffers losses aswel, depending on what divides one actually finds his or herself at that particular point in time it was later I got to realise that the forex market and cryptocurrency market are using almost the same partner. This actually makes more sense because such market can only make sense only when supply and demand are interacting with each other. The simple logic also applies in the cryptocurrency hence prices are not meant to to be stable or focused on a single direction rather there should be an up and down swing.