Why dumping Bitcoin price?

[Ariful]

Not only bitcoin but also all the cryptocurrency all dumping. Because this a simple thing in cryptocurrency but there is a big reason for Elon Musk. The price of a coin in the cryptocurrency market is not always the same which causes it to change all the time.  So the price of Bitcoin will pump and dumping will be the cryptocurrency rule. SO we can Say that bitcoin grow up again.

[Seerge]

The beginning of the decline in the price of Bitcoin was due to Elon Musk who suspended BTC for payment for Tesla cars. Since there was a Twitt from Elon about it the price of BTC went down.  And the saddest thing is why now the price of BTC depends on an Elon Musk, Not even Bitcoin has gone down in price but all Crypto coins are down too.

[Mj joy]

Right now we can all see that the price of bitcoin is dumping a lot. What could be the reason behind dumping the price of this bitcoin. Here you can discuss how long it will take for the value of bitcoin to be pumped again.

Yes, brother, you are right because the price of Bitcoin has come down a lot lately.It’s down to 40,000 now from those sixty thousand dollars it’s actually sad for us.However, this is not a big disaster for Bitcoin because Bitcoin can grow from time to time.Starting from the end of 2020, there was a huge prize, but now it has come down a little bit.I think by the end of 2021 it is likely to be a huge price again.

[Tanimariya]

Currently the price of Bitcoin has dumped the highest. All in all, the market situation is very bad. As the price of Bitcoin has dropped, so have the prices of other products. Hopefully the price of this coin will go up very soon. Most of the current coins in the cryptocurrency market are much cheaper. Because the price of Bitcoin is going down, the price of other coins is going down. So the market situation may decrease further for various reasons. Such as Elon Musk's tweet and China has suspended Bitcoin. Such news is not a boon for the cryptocurrency market at all.

[trauchot]

It seems that a long and merciless cryptocurrency correction has begun and if this is so, then now we will have to wait at least 2-3 years for the cryptocurrency market to start growing again, so whoever did not have time to transfer their investments in to stable coins, then it is better to do this as soon as possible because bitcoin will soon drop to 30k$ and even lower...

[AlviNess]

There are usually many reasons for dumping the value of a coin. But I think one of the reasons for dumping the price of bitcoin at the moment is not supporting Tesla bitcoin.Ever since Elon Musk shared this news with everyone, cryptocurrencies have started dumping the value of all coins.So I think one of the reasons for dumping the price of Bitcoin is Tesla.

[Anonylz]

I guess it is safe to say Elon Musks' tweet contributed to it or maybe fast-tracked it. Even before Elon musks tweet, some Technical Analysts have been predicting that the price of Bitcoin might drop from what the chat was showing but Elon Musk's tweet just kinda helped it go faster.

[bitbit97]

Ever since Elon Musk shared this news with everyone, cryptocurrencies have started dumping the value of all coins.So I think one of the reasons for dumping the price of Bitcoin is Tesla.

Agree. The price has already declined from $64k to $58k and nobody blamed anybody. But as soon as Elon tweeted about Tesla-Bitcoin suspension, the market reacted with $2-4k price drop. That is the same amount market got pumped after Tesla-Bitcoin acceptance.

Panic sellers caused dump. I just dont get it why they panic after Tesla announcement. Do they really wanted to buy a car, and now, as there is no more such option, their dreams are ruined and they sell Bitcoin... Strange logic...

[sacrotic]

Many thing could become reason but not far from fundamental, market news, sentiment and habit which one is true we don't know. I hope we keep stand in market by follow our plan and do some recovery if something worst happen. We don't know anything about market but we can predict and the best way to get iprofit is minimize risk.

[Mayajal]

Bitcoin prices were up a few days ago but now Bitcoin prices are lower.  Currently the cryptocurrency market is being dumped, I think the market will return to its previous position.  And to reduce the price of all tokens.  Due to which, if the price of coins is lower now, then it is more likely to rise in the future.

[Vx1]

The price of Bitcoin fell for the first time due to the Suspend of BTC payments for the purchase of Tesla Cars, but after that the price continued to fall because many people were panicking. So that BTC holders sell their coins, They are afraid of big losses and end up selling the coins they hold. And this method did not make BTC prices survive, but instead fell and fell even further until now.

[Prime]

There are many reasons why the Bitcoin price is dumped. One of them is to get Bitcoin at a cheap price. Some whales can do it, they dump the price with their power to make the price decrease. They can spread FUDs, so people are worried about their Bitcoin asset and sell it at a cheap price in the market. It is very possible because Bitcoin price can be influenced by the FUDs, people who have less knowledge and have a weak intention possibly sell their Bitcoin suddenly.

[IyemRoker]

Every rapid and abnormal increase there must be a drop in prices that are so many and sharp because maybe cryptocurrency law has been like this since 2012 when the cryptocurrency market started to bustle.
I am also sure that with all of this or stories like this, we can take lessons so that we can give the best for ourselves. (Don't be greedy).
Bitcoin always change every time , save your funds and save Fiat . This is only my Opinion .

[Trumpet]

The value and dumping of cryptocurrency coins is a very normal thing. However, the current bitcoin price is dumping in such a way that it is not normal. Because the price of Bitcoin has dropped by almost half. There are many investors who are currently refraining from investing in the Bitcoin platform.But hopefully the market will be pumping again soon.

[gabbie2010]

Elon Musk tweets and Chinese government crackdown on financial institutions using digital currencies was responsible for the massive dumping of bitcoin, this had caused a lot FUDs consequently a lot of investors dumped their coins invariably pulling down the price, it is quite unfortunate that Elon Musk after endorsing and adopting bitcoin in the purchase of Tesla now made a U-turn by disapproving it thus causing an unnecessary FUDs, I hope the price get back to normal after the storm is over