Why is Bitcoin Going Down Today, It comes after a troubled week for Bitcoin in which a cryptocurrency exchange went bust in South Korea following a cyber attack. Coinbase, another exchange based in the US, also said it was opening an investigation into sharp price increases in the price of a new cryptocurrency called Bitcoin Cash. Neil Wilson, a senior market analyst at ETX Capital, said: ‘Has the bubble finally popped? It’s hard to see the bell tolling just yet. ‘Large price swings have become so normal that it’s hard to decide – we can easily see this market bounce back in very short order.
‘Whilst there have been some hacks, public infighting in the mining community, lots of rumoured forks and regulatory pressure building on some fronts, this is likely to be a simple bout of risk-off selling as investors rebalance towards year-end. ‘It looks like it’s time to cash in the gains and spend the winnings on a bumper Christmas.’
OPINION 1
There are two major reasons:
Bitcoin touched all time high of $5000. People started profit booking
Rumours of Chinese ban on Bitcoins, ICOs and exchanges
FUD happened after the decrease in price. People started speculating the end of Bitcoins. It started the rate of decrease in price of Bitcoin. But if you compare the price from the price in July, it is still at a very good stage
Opinion 2
There are several reasons.
China banning ICOs
China banning exchanges
Jamie Dimon speaking against bitcoin
Hitting the $5000 psychological mark
see videos https://www.youtube.com/watch?v=M4mkymSt6rE
Opinion 3
It's simple, rising and falling is part of stocks and business. It was bound to happen eventually.
SOURCE : http://metro.co.uk and https://www.quora.com/Why-is-Bitcoins-value-going-down
‘Whilst there have been some hacks, public infighting in the mining community, lots of rumoured forks and regulatory pressure building on some fronts, this is likely to be a simple bout of risk-off selling as investors rebalance towards year-end. ‘It looks like it’s time to cash in the gains and spend the winnings on a bumper Christmas.’
OPINION 1
There are two major reasons:
Bitcoin touched all time high of $5000. People started profit booking
Rumours of Chinese ban on Bitcoins, ICOs and exchanges
FUD happened after the decrease in price. People started speculating the end of Bitcoins. It started the rate of decrease in price of Bitcoin. But if you compare the price from the price in July, it is still at a very good stage
Opinion 2
There are several reasons.
China banning ICOs
China banning exchanges
Jamie Dimon speaking against bitcoin
Hitting the $5000 psychological mark
see videos https://www.youtube.com/watch?v=M4mkymSt6rE
Opinion 3
It's simple, rising and falling is part of stocks and business. It was bound to happen eventually.
SOURCE : http://metro.co.uk and https://www.quora.com/Why-is-Bitcoins-value-going-down
