With my little experience on cryptocurrency market, I will like to put some light on facts that causes Bitcoin to fall again and again. I have 3 reasons for not lifting of Bitcoin and they are in order from least important to more.
The whales in market make huge sell off, whenever market try to regain and result in sudden crash of market.
Second is regulatory actions, as whenever any regulatory body make any negative announcement regarding crypto currency market falls. Many time fuds are created by sharing false information, which results in panic sell off.
Last but very important factor that I believe is ICO's. Day by day many ico come into market and the money get distributed instead of coming to main stream. Limiting ICO's can result in rising of Bitcoin soon.
I have tried to give opinion on best of my knowledge, If you have any suggestions or views kindly share in comment section below.
What's happening is that the futures markets are going short on bitcoin and 3 other of the top coins. Before the futures markets, it was all bulls. With the futures markets the bears are making themselves heard.
Besides, what good is a currency if it keeps going up in value? Volatility is bad for business. With bitcoin trading in a narrow range, the value is predictable, and that makes it usable.
What you really want is for people to use bitcoin right? A stable value will encourage that to happen. What you want is transaction demand, not speculation demand.
Wow, awesome. Thanks for taking the time to post this on this guy's sorry blog where he posts pictures of watches! . Almost like a tree falling in the forest with no one around. :)
Anyhow I appreciate you clear explanation.
Hah! That was really funny. Thanks for the laughs!
Anyway, I really do hope people figure this part out.
Unfortunately, this is not an opinion I see posted very often...well, EVER?!?! It's really kind of common sense though, right? :)
Have a good weekend dude!
Here is the extended version...
http://busy.org/@digitalfirehose/speculation-demand-transaction-demand-and-steem
What you think bitcoin will go more down?
GREAT BUDDY KEEP UP!! AND KEEP SUPPORTING
https://steemit.com/mgsc/@rajatgaur/techcrunch-over-1000-projects-are-dead-now
Resteemed by @resteembot! Good Luck!
Check @resteembot's introduction post or the other great posts I already resteemed.
But usually cryptos go up near the end of the year. That's been happening yearly I think so let's see.
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