Why is the bitcoin price going down

[justbrowsing1]

Because it's shit, way too complicated for the average person and literally nobody uses it to purchase things.

Mostly because it's run out of stupid people, I'm living in the Philippines and heard of multiple different housewives with a household income of $300-$400 per month sticking their life savings in it around christmas time.

 

[mickyfu]

(also mickyfu might appear too)

It is I, The King Of Crypto C. Let me explain. Bitcoin is going down because in order for it to go up it needs fools. However there fools have wised up and seen Bitcoin for what it is "Monopoly Money".

 

[payal23j]

It is I, The King Of Crypto C. Let me explain. Bitcoin is going down because in order for it to go up it needs fools. However there fools have wised up and seen Bitcoin for what it is "Monopoly Money".

Micky Are you aware about BFF coin?

 

[BassTrackerBoats]

However there fools have wised up and seen Bitcoin for what it is "Monopoly Money".

The Parker Brothers are officially offended.

 

[mickyfu]

The Parker Brothers are officially offended.

Won't be the first time I've offended them. I have a DMCA off Hasbro.

 

[BassTrackerBoats]

Won't be the first time I've offended them. I have a DMCA off Hasbro.

That actually gives me an idea on gaming my FB groups.

I'd send you some crypto for the idea but that would be offensive.

 

[Billy Batts]

Why is the bitcoin price going down

Because if you strip it down to the basics it's just a highly advanced pyramid scheme.

 

[lihsus]

I think It's the marketing Strategies of coin like stock Market.I share my experience its depend on the Demand of Coin and or any other item. When the demand is increasing the price goes up and otherwise goes down. Thanks

 

[Yajolik]

Well there is a partial answer to this question. In two words Mt.Gox. Basically They were a huge exchange that claimed hacked then bankruptcy in 2014 but stll had enough coin to hodl and recently sold 400millions worth. Thing is this probably isnt the first time they did this and wont be the last. Who knows how long or if bitcoin can recover. It seems to have recovered before but it shows that this currency is still waaaay tp volatile to be taken serious imo. I bought $1500 worth when btc was $4800 watched it go to 21k. With $1500 I wasnt going to be rich anyway even if I sold at the all time high , in fact I am convinced 99% of these stories you hear about 23 yrs olds buying lambos and making millions in crypto are BS and or affiliates. Unless you had access to 10s of thousands you could afford to invest (lose) you were out the game before it even started.

 

[Mrtlsatan]

Bitcoin will be back to 20k, don't worry

I hope mate!

 

[moza]

Oh. Wow. The bitcoin price is going down...what a surprise...no one could ever predict this...

 

[jackalope]

Markets respond quickly to fear (India's banning it, no wait, Pakistan is, too, oh nooooes), and bitcoin has really high transaction costs to use it for buying anything where you aren't willing to pay a premium for anonymity. Once those things work out it will possibly go up again, but figuring out when is pretty much what investing is, so that's on you.

 

[RamChaturvedi]

I think people can make more money with IntraDay Trading now with the same capital compared to Crypto. If the market is Bullish, definitely crypto but that's not happening in the last 2 months. People are blocking their money, shitting their pants every other week and praying their instincts now! Just a thought.

 

[eltan]

It is now mainstream. Now subject to the same trading tactics as FOREX. In the FOREX system, there is an algorithm that drops a currencies value. In relation to negative press reports.

The mainstream is now adapting their own solutions that utilize the blockchain. The Bank Of England is one. The big banking cartel is another. This is only a theory, but. What if people have made their money. Developed a mainstream solution and now want to destabilize BTC.

Was BTC developed as an investment or an alternative? It is possible, we had a solution to rock the banking industry to its core. Instead, we chose greed and short-term gain.

The above is theory and opinion. Based on some researched facts.

 

[Asharvin66]

its pretty simple, how many of you use bitcoin to actually buy something?
People where brainwashed at first to rush into it, now they are realizing that its completely useless and only holds the value it is given.
Only the traders are buying it, but its not being bought by buyers.
Now all the traders are selling, but alas there are no users to sell it to anymore.

 

[mickyfu]

I wonder where all the 100k easily next year Bitcoin clowns have gone. I'd really like their opinion on today's Bitcoin price, as they were very vocal and knowledgeable about Bitcoin last November.

 

[Gromit]

I wonder where all the 100k easily next year Bitcoin clowns have gone. I'd really like their opinion on today's Bitcoin price, as they were very vocal and knowledgeable about Bitcoin last November.

At a guess, probably on biz asking what rope they should use to end it all.

 

[simplevinc]

At a guess, probably on biz asking what rope they should use to end it all.

Or maybe they are enjoying their money somewhere in the world now because they success persuade those fools to buy their coins at peaks price.

 

[mickyfu]

Or maybe they are enjoying their money somewhere in the world now because they success persuade those fools to buy their coins at peaks price.

Or maybe mummy and daddy don't let them use the internet anymore because they blew all their pocket money.

 

[Billy Batts]

I wonder where all the 100k easily next year Bitcoin clowns have gone. I'd really like their opinion on today's Bitcoin price, as they were very vocal and knowledgeable about Bitcoin last November.

They are now homeless sucking C in back alleys