Why bitcoin dropped

mindmaster · Mar 20, 2018

Here is an interesting read about bitcoin price - https://cointelegraph.com/news/bitcoin-price-hit-2018-lows-because-of-400-mln-mtgox-sell-off-reports

If you add that people are easily influenced in crypto market, it seems like a probable cause or at least one of the main causes.

And it seems that it is not the first time mtgox is accused of influencing the market - https://techcrunch.com/2018/01/15/r...person-likely-drove-bitcoin-from-150-to-1000/

Now. No matter if the influence upon the market was done or not by mtgox, I see 2 possible conclusions:
- mtgox is the scapegoat; for those that like conspiracies
- or mtgox is really dirty

What do you think?

Nut-Nights · Mar 20, 2018

I didnt read those articles but bitcoin will ended up getting ban in my country, in simple word BTC got no future according to me. Only my thoughts.

awesomewebsites · Mar 20, 2018

Another reason are those rumors regarding Google going to ban crypto related ads.

Local SEO · Mar 20, 2018

I'm not sure why hype about coin than tech behind it, blockchain technology is yet powerful.

Bud Wiser · Mar 20, 2018

interesting but I think crypto is over now

aidenhera · Mar 20, 2018

Local SEO said:
I'm not sure why hype about coin than tech behind it, blockchain technology is yet powerful.

What can it do?

Billy Batts · Mar 20, 2018

I think BTC is the most advanced pyramid scheme of all time

Affwings · Mar 20, 2018

Did you ever asked why it increased?

When it gets dropped, why you worry.
Anyways, no one knows exact answer.

The only reason whenever an price for an currency drops, when it gets its value or less uage in market, or more supply.

That is just my thinking, i am not sure.

aidenhera · Mar 20, 2018

Billy Batts said:
I think BTC is the most advanced pyramid scheme of all time

but who made it?

Affwings · Mar 20, 2018

aidenhera said:
but who made it?

You know it was me

bartosimpsonio · Mar 20, 2018

There were many factors behind the Bitcoin drop since december.

Big banks bought lots of BTC to dump it. They're desperate, but this is all the damage they could do.

Then the mtgox guy who dumped half a billion dollars over 3 months.

Then the Tether investigations which still can explode at any time.

But in the meantime Bitcoin has undergone a major upgrade. Now segwit is active and transactions are dirt cheap again. Lightning Network is the 2nd layer being built and looks promising.

I think when the fear fades away it's going to explode again when everyone realises the real fraud here is the banking system not Bitcoin.

Every single thing they said about Bitcoin can be said about banks. They print fake money, they manipulate the markets and they defraud investors. Bitcoin makes all this transparent. The day Goldman Sachs tried to buy Bitcoin without being noticed, everyone reported it. Banks are desperate because their business model will be gone in 20 years.

Billy Batts · Mar 20, 2018

aidenhera said:
but who made it?

Hobbe · Mar 20, 2018

I am no bitcoin fan but i find the technology very interesting.

aidenhera · Mar 20, 2018

bartosimpsonio said:
There were many factors behind the Bitcoin drop since december.

Big banks bought lots of BTC to dump it. They're desperate, but this is all the damage they could do.

Then the mtgox guy who dumped half a billion dollars over 3 months.

Then the Tether investigations which still can explode at any time.

But in the meantime Bitcoin has undergone a major upgrade. Now segwit is active and transactions are dirt cheap again. Lightning Network is the 2nd layer being built and looks promising.

I think when the fear fades away it's going to explode again when everyone realises the real fraud here is the banking system not Bitcoin.

Every single thing they said about Bitcoin can be said about banks. They print fake money, they manipulate the markets and they defraud investors. Bitcoin makes all this transparent. The day Goldman Sachs tried to buy Bitcoin without being noticed, everyone reported it. Banks are desperate because their business model will be gone in 20 years.

so btc will go up and we should buy it now?

bartosimpsonio · Mar 20, 2018

aidenhera said:
so btc will go up and we should buy it now?

I started buying again at U$ 7000.

Who knows if it's going up, but I've made 20% so far

Jklmno · Mar 20, 2018

aidenhera said:
but who made it?

Satoshi Nakamoto,duh

aidenhera · Mar 20, 2018

Jklmno said:
Satoshi Nakamoto,duh

i thought its meme and creator of btc is unknown

buggy032 · Mar 20, 2018

The G20 summit financial talks regarding regulation of crypto assets and if it poses a threat to the financial sector etc. This is the main reason for FUD which caused panic in market https://www.coindesk.com/g20-calls-crypto-regulation-recommendations-july/

buggy032 · Mar 20, 2018

aidenhera said:
i thought its meme and creator of btc is unknown

Technically Satoshi Nakamoto is anonymous person/entity. Both answers are correct agree to disagree

aidenhera · Mar 20, 2018

buggy032 said:
Technically Satoshi Nakamoto is anonymous person/entity. Both answers are correct agree to disagree

rotfl. WHO UPDATES IT THEN?

i thought people make coins to benefit from them.

how is sakamoshi namoto benefiting if hes anonymous entity?

Why bitcoin dropped

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