PlusToken Dump Could be Behind Bitcoin Price Drop

[hellenjones260]

Bitcoin price fell below the key support level of $7,000 on 16th December and was trading at $6,940.82 at press time. The fall did not come as a big surprise for traders as the king coin has been registering daily lows in the past week. The next support is at $6,800 and if fails to hold that ground then $6,400 could be the next support level.  Bitcoin started the year near $3,500 and then continued to rise in the second quarter and again started to fall in the final quarter.

Many investors were predicting that the BTC price would again touch the roof after a prolonged winter in 2018, however, analysts warned that 2019 could be the consolidating year, and actual bull run might start after the Block Reward halving in early 2020. Now a Chainalysis report has suggested that the reason behind the falling price of Bitcoin could be the dump made by PlusToken holders.

[LogiC]

Im not sure about that everything could happened. I know its not a good way to put that but the market is always a random volatility. Lets just wait for 2020 to occur and see it.

[shadowdio]

The behind of this drop price of bitcoin is the plus token? I don't think so.. Maybe it is just normal the movement of bitcoin you know how volatile bitcoin is, but I believe in the next year that bitcoin will pump because of the bitcoin halving event.

[masterrex]

I don't think so! PlusToken is not related to bitcoin that's why i don't believe that it can be the reason of the recent bitcoin price drop. What i believe is due to the holiday seasons is approaching and the people is needed some funds for the said holidays that's why hodlers and investors is selling its bitcoin for cash. and it was the main reason why Btc price is dropping and its nothing new about it. 

[Shahinaz]

First I want to ask you what is PlusToken?
I am responding to the price drop on bitcoin, most likely investors need funds for the winter holidays, so sell their assets
let's see in 2020 whether the cryptocurrency situation will be as bleak as 2018 and 2019

[Alcor]

Anything can be the reason for the fall of Bitcoin. However, most likely, many random factors most often lead to this result. I do not see any obvious reasons for the drop in the price of bitcoin. Most likely, this is a manifestation of the usual price volatility of bitcoin.