Why Bitcoin are down?

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dabeersheikh
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#27713

12 Mar 2018, 13:46

Hi friends dabeer sheikh here....
Now a day Bitcoin are down because most of people are selling Bitcoin but they don't know what is he loosing l want advice you don't sell your Bitcoin hold it because it will give you lost of profit in future

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SACHDEVA
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#27750

12 Mar 2018, 15:50

because most of the countrys are not accepting btc


techybite
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#27966

13 Mar 2018, 17:39

Because Due to huge amount of bitcoin selling . therefore bitcoin market is down , but i think bitcoin again grows fastly.
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#27967

13 Mar 2018, 17:44

Or maybe it's because Mt Gox sells a loooot of BTC/BCH ?

"Last week the trustee for Mt. Gox released a statement (scroll down to get to an English translation) that it had sold about $400 million worth of Bitcoin and Bitcoin cash between December 18 last year and February 5. This was done to generate proceeds to pay back Bitcoin owners and creditors due to Mt. Gox being hacked in February 2014, when 850,000 Bitcoins were stolen."
or maybe not... https://www.forbes.com/sites/chuckjones ... de09c17d61
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srasoolkazim
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#27982

13 Mar 2018, 19:04

Bitcoin Drops to $8,300 as Mt. Gox Trustee Sell Off Continues, Market Drops
Yesterday, on March 9, CCN reported that the sell off of hundreds of millions of dollars, and the plan of the trustee to dump the remaining $1.7 billion worth of bitcoin into the market have caused the price of bitcoin to drop substantially in a short period of time.
Bitcoin Drops
Since March 7, within a 48-hour span, the price of bitcoin decreased from $10,600 to $8,300, recording a staggering $2,300 drop in value. The entire market followed bitcoin’s price trend, as the three largest cryptocurrencies behind bitcoin in Ethereum, Bitcoin Cash, and Ripple all declined by 11 percent, by the same exact margin as bitcoin.
Analysts like WhalePanda have attributed to the recent fall to the massive sell off of bitcoin by the Mt. Gox trustee, and the controversial decision of the trustee to sell 40,000 bitcoin on a cryptocurrency exchange, rather than over-the-counter (OTC) platforms.
However, the sale of 40,000 bitcoin is not the end of the Mt. Gox trustee’s sell off of bitcoin. According to the official document released by the Mt. Gox trustee, more than $1.7 billion worth of bitcoin is expected to be sold in the next few months.
The official document of the Mt. Gox trustee referring to Bitcoin Cash as BCC read:
“As a result of the consultation with the court, I considered it necessary and reasonable to sell a certain amount of BTC and BCC at this point and secure a certain amount of money for distribution resources, and thus, I sold the amount of BTC and BCC above. I made efforts to sell BTC and BCC at as high a price as possible in light of the market price of BTC and BCC at the timing of sale. I plan to consult with the court and determine further sale of BTC and BCC.”
$1.7 Billion
If the Mt. Gox trustee continues to dump large amounts of bitcoin on cryptocurrency exchanges rather than in the OTC market wherein big buyers can trade with each other, the price of bitcoin will continue to be affected by the sale.
Ethereum co-founder and Cardano founder Charles Hoskinson stated that bitcoin may have been overvalued at $19,000 if a short-term sell off by a single entity could lead the price of the cryptocurrency to fall by a margin like this, emphasizing the liquidity problem in the cryptocurrency market.
“Was bitcoin really worth $20,000 a coin if an event like this has such a profound impact on the market? We need an index of how much the market can afford to liquidate without crashing for each cryptocurrency; call it the ΔL metric,” said Hoskinson.
It remains unclear whether the Mt. Gox trustee will dump over a billion dollars worth of bitcoin on exchanges as planned, or move to OTC market to prevent market manipulation.
The post Bitcoin Drops to $8,300 as Mt. Gox Trustee Sell Off Continues, Market Drops appeared first on CCN.
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Crajkaro
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#27983

13 Mar 2018, 19:23

@srasoolkazim wall of text, no source = warning

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Farooqifee
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#27987

13 Mar 2018, 20:23

I think mostly people are investing in ICO but i hope in may 2018 BTC will rise again.

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