Money Talk

Can someone explain why bitcoin prices fell?

Submitted by jkingsley22, , Thread ID: 94895

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RE: Can someone explain why bitcoin prices fell?

#2
Bitcoin popularity surges based on a lot of differing factors, one such being bad press; this is actually a big reason for a few of the recent price fluctuations; however another reason is the fact that Bitcoin doesn't have a set-in value - people perceive bitcoin as being in large, a platform where they can flip 100 into 1000 essentially (what I mean by this; is that a lot of people will stop selling bitcoin because they are guaranteed for someone to make bitcoin popular in the media, which in turn increases their chances of making a larger profit at a later date.)

There is also in-turn the fact that investors as a whole are wary over exposed security breaches involving bitcoin - this will cause the value to drop somewhat as people as a whole become severely cautious in regards to buying bitcoin in fear that something could go wrong.

There's plenty more I could say on the topic, but i'd be hard pressed to tell you every single reason as to why the price fluctuates so much, all I can recommend is if you decide to purchase bitcoin in the future, you need to do a TON of research, be absolutely sure of what you are doing before you invest into crypto, it can be dangerous if you don't know otherwise.

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