Can someone explain why bitcoin prices fell?

09-07-2018, 05:13 AM

Gawerty Wrote: 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.

Oh come on this has always been a problem with btc. We had a small bull run and this is just a pull back. Overall we are still in a pullback from the 20k mark and have yet to really change that momentum though. Recently the small drop is due to the market pre pricing in the ETF rejections which everyone knew was coming as well as the CBOE futures expiring at the end of the month. Crypto markets consolidate just like every other major market.