What Do You Think Is Responsible For The Recent Fall In Bitcoin Price?

Aug 13, 2018
41
46
18
#1
Hello mates, ever since I checked my portfolio and discovered the huge decline in Bitcoin price, I have been trying to find out the major factor responsible for it. Unfortunately, I couldn't find one until I came across a group few minutes ago which shows that the fall in Bitcoin price is attributable to use of BITCOIN HashPower for the creation of BCH Block.
Do you think this is the major reason bitcoin dump?
 
Last edited:
Aug 22, 2018
66
66
18
#2
Bitmain did turn everything they have to BCH ABC because they have alot to lose with the fork, but I do not know if it's the reason and it happened a few days ago so I doubt it...
 
Aug 13, 2018
41
46
18
#3
Bitmain did turn everything they have to BCH ABC because they have alot to lose with the fork, but I do not know if it's the reason and it happened a few days ago so I doubt it...
That could be the reason too, let's wait and see what others will say
 
Sep 22, 2018
66
50
18
#4
two factors :
1. bitmex trading btc future started
2. BCH fork tonight and its main hodler Bitmain is dumping.

both are purely speculative, don't hold me accountable for it.
 
Aug 13, 2018
41
46
18
#5
two factors :
1. bitmex trading btc future started
2. BCH fork tonight and its main hodler Bitmain is dumping.

both are purely speculative, don't hold me accountable for it.
Lolz, nobody will ever hold you accountable. Your contribution is highly appreciated
 

themonkii

Community Manager
Staff member
Jun 14, 2018
241
497
93
#11
It was because there's not enough investors and only speculative money. Also miners have big roles when it comes to Bitcoin's price.
I agree with that statement - right now, it feels like we're all trading with each other - we need some fresh blood in the market, but sadly - it got shell shocked and scared away.
 
Aug 12, 2018
28
34
18
#12
I remember watching some "inside" guy talking about Bakkt and Starbucks (this was months ago mind you) and how the big investors know this is happening and they are actively trying to get your BTC at a cheap rate.

The folks that really know what they are doing within the regulatory framework of traditional investments are having a field day with crypto. I don't think these people are the sole responsible party for driving the price down, but I think they know things we don't.
 
Nov 2, 2018
35
29
18
#13
In addition to the BCH mining factor l, some investors put reasonable amount out of BTC to get the benefit of the BCH (SV) fork which affected the price of the BTC.

And to think outside the box of crypto, stock and forex market suffer a great loss in their market as well and the only stock that wasn't affected is oil which might be due to Iran-US oil issue of a thing. And also only UAE currency survived the downtrend on FOREX the same week BTC gave a steep slope downtrend. In essence what am trying to say is that there is more to BTC downtrend that happened of recent than just BCH fork/crypto issues.