Why Bitcoin is currently weak?

[kulkhan]

Yes we are seeing Bitcoin market currently weak. Vitcoin price unstable and down. I think it os correction of bitcoin price. We all know few months ago Bitcoin halving has been happened. And when halving will happen before then Bitcoin price wes touched new ATH of Bitcoin. It was highest price of Bitcoin in the Bitcoin history.

And after Bitcoin halving It’s price dumping. I think it will be normal within short time. And within short time we will see Bull session i think. So there has no hesitation about down.

[Asiska02]

So what makes Bitcoin so sluggish at this time of the year? According to Cointelegraph: "A weak US labor market, fear of a tech bubble, and regulatory actions are factors behind Bitcoin’s recent sell-off."

This will be good times for the traders who have sufficient knowledge of the market, this factors always have effect on the overall price of the market, when traders foresee this news early, they come in handy for the direction they’re going to place their trades at and be profitable. Traders don’t mix emotions with making money while investors will be panicked not to lose too much of their holdings as a result of all this news.

Seems to me that the weakness of the US economy is dragging Bitcoin down. Now, do you think Bitcoin can even go lower than $50K this month of September or would you rather think that there can be a big rebound days from now?

The bitcoin market has caught me several times off guard when trying to predict the direction of the market. I just let it be and allow the market to decide the direction it will take or the price it will trade at some specific points in time. September should be a good month for bitcoin’s price, but if it doesn’t we will still be hopeful that next month will be.

[Lucius]

I sincerely believe that anything can happen, but always taking into account the United States elections. Whether we like it or not, the US market is the determining voice of where the market will go.
~snip~

There have always been discussions about whether politics (government) will one day have an influence on Bitcoin (or cryptocurrencies in general), and now in the media a very wrong image has been created in my opinion that the fate of Bitcoin will be determined by one man who could become president. I personally think that regardless of who will become president, we all should not expect too much, but even if we expect what do we actually expect?

From a political point of view, the election of T as president would be bad not only for the US, but also for the EU (Ukraine) and of course China, which suffered great economic damage during his last term.

[Baofeng]

I sincerely believe that anything can happen, but always taking into account the United States elections. Whether we like it or not, the US market is the determining voice of where the market will go. From time to time I like to read articles like the ones you link in your post, but I don't like to be influenced by what they say in those articles since in 99% of the cases they only serve to manipulate. As we have seen in recent weeks, Mt. Gox creditors have not sold (at least the vast majority of them) the Bitcoins they have received, something that many people feared and that some media and specialized sites "announced"

And yes, I think Bitcoin can fall below $50,000 and then regain value again, whoever wins the election, it's just that depending on who wins the election, that recovery in value could be faster or slower.

They say that due to the debate, the price suddenly pumps to $57k at least, not sure though if it due to that or people just investing because we have hit $52k'ish and so it's a good time to buy.

And if we go on that argument, regardless of who is going to win, this November we should be seeing another pump in the next two months. Hopefully a good $70k or higher jump is possible before the end of the year.

[rby]

There have always been discussions about whether politics (government) will one day have an influence on Bitcoin (or cryptocurrencies in general), and now in the media a very wrong image has been created in my opinion that the fate of Bitcoin will be determined by one man who could become president. I personally think that regardless of who will become president, we all should not expect too much, but even if we expect what do we actually expect?

From a political point of view, the election of T as president would be bad not only for the US, but also for the EU (Ukraine) and of course China, which suffered great economic damage during his last term.

At the moment, politics is not only influencing the cryptocurrency market which Bitcoin happens to be the mother coin but cryptocurrency(Bitcoin) is also having a significant influence in determining the fate of politics in some developed countries of the world especially the United States. In a recent poll conducted by crypto owners in the US, the majority of them have said they'll first consider the regulation stance of the presidential candidates before deciding on voting the candidate with better approach to Bitcoin and cryptocurrency in general.
As world's biggest economy, it's expected that the US elections will affect the cryptocurrency market and because of the current global importance of cryptocurrency, the industry is also affecting the political happenings in the country. So personally, I think the result of the US elections will determine if cryptocurrency(Bitcoin) market will move to positive direction or not.

[Crypto Library]

We also have to remember that the Mt. Gox repayment is still in it's effect if I'm not mistaken. So it will still have a impact on the market no matter what we see or  think that it doesn't.

But the best part is that if we are looking at the bigger picture, then we should still be accumulating at this point. At $50k'ish, we knows, maybe we could still see in the profits of x2-x3 next year. Just have patience and for sure once we got in a parabolic rise, we will forget all this weak Bitcoin paradigm.

Actually MT. GOX's incident is a shame for the cryptocurrency world as it ends a nearly seven-and-a-half-year legal battle without a good resolution. And if we see this kind of humiliating incident is not new in cryptocurrency, especially in the case of altcoins and exchanges. We must not forget the Luna and FTX incident during which many people lost everything and attempted suicide.
And I think they remind us again and again that exchanges and altcoins are not suitable for investing in cryptocurrency and holding own assets, although I will not put all altcoins in this category. After seeing these events myself, I am afraid to hold more funds in altcoins and exchangers.

[rizqillah]

I sincerely believe that anything can happen, but always taking into account the United States elections. Whether we like it or not, the US market is the determining voice of where the market will go. From time to time I like to read articles like the ones you link in your post, but I don't like to be influenced by what they say in those articles since in 99% of the cases they only serve to manipulate. As we have seen in recent weeks, Mt. Gox creditors have not sold (at least the vast majority of them) the Bitcoins they have received, something that many people feared and that some media and specialized sites "announced"

And yes, I think Bitcoin can fall below $50,000 and then regain value again, whoever wins the election, it's just that depending on who wins the election, that recovery in value could be faster or slower.

They say that due to the debate, the price suddenly pumps to $57k at least, not sure though if it due to that or people just investing because we have hit $52k'ish and so it's a good time to buy.

And if we go on that argument, regardless of who is going to win, this November we should be seeing another pump in the next two months. Hopefully a good $70k or higher jump is possible before the end of the year.

I also predict that November will see a spike in the price of bitcoin, possibly the previous ATH will be achieved and bitcoin will reach $75K in November this year. Although the current price of bitcoin looks weak, bitcoin still has the potential to rise higher after the halving.

[Legion]

I sincerely believe that anything can happen, but always taking into account the United States elections. Whether we like it or not, the US market is the determining voice of where the market will go. From time to time I like to read articles like the ones you link in your post, but I don't like to be influenced by what they say in those articles since in 99% of the cases they only serve to manipulate. As we have seen in recent weeks, Mt. Gox creditors have not sold (at least the vast majority of them) the Bitcoins they have received, something that many people feared and that some media and specialized sites "announced"

And yes, I think Bitcoin can fall below $50,000 and then regain value again, whoever wins the election, it's just that depending on who wins the election, that recovery in value could be faster or slower.

They say that due to the debate, the price suddenly pumps to $57k at least, not sure though if it due to that or people just investing because we have hit $52k'ish and so it's a good time to buy.

And if we go on that argument, regardless of who is going to win, this November we should be seeing another pump in the next two months. Hopefully a good $70k or higher jump is possible before the end of the year.

I also predict that November will see a spike in the price of bitcoin, possibly the previous ATH will be achieved and bitcoin will reach $75K in November this year. Although the current price of bitcoin looks weak, bitcoin still has the potential to rise higher after the halving.

Some are convinced that November can prove critical for Bitcoin, especially in light of the halving effect which tends to boost the rates. Although the price may not be very colourful at the moment, this is typically associated with a large movement. Since the price action of Bitcoin sometimes reveals post halving spikes the likelihood of the price reaching its previous ATH and possibly touching $75K is entirely plausible. So, continue being positive and watch the market because next month could be exciting to watch.

[Wiseman]

As of the moment, Bitcoin is standing at $54,334.40 which, of course, is not what many of us who are hodlers are expecting this month of September after a lousy August performance. Since September 1, the price has been on a steady decline from around $57K to now at $54K...with even more possibility of another slide down the hill even getting into the $50K level and lower.

So what makes Bitcoin so sluggish at this time of the year? According to Cointelegraph: "A weak US labor market, fear of a tech bubble, and regulatory actions are factors behind Bitcoin’s recent sell-off."

Seems to me that the weakness of the US economy is dragging Bitcoin down. Now, do you think Bitcoin can even go lower than $50K this month of September or would you rather think that there can be a big rebound days from now?

Why do you think Bitcoin is weak? There is simply expectation and there is reality, perhaps you expected Bitcoin to be at 100k by now? If so, that doesn't mean it's weak, it means that the time hasn't come for that price yet and people have other things to do than just buy Bitcoin and spend money on its PR, now they are promoting meme coins and as we can see, people like it the most, Bitcoin will soon have its turn.

[bettercrypto]

As of the moment, Bitcoin is standing at $54,334.40 which, of course, is not what many of us who are hodlers are expecting this month of September after a lousy August performance. Since September 1, the price has been on a steady decline from around $57K to now at $54K...with even more possibility of another slide down the hill even getting into the $50K level and lower.

So what makes Bitcoin so sluggish at this time of the year? According to Cointelegraph: "A weak US labor market, fear of a tech bubble, and regulatory actions are factors behind Bitcoin’s recent sell-off."

Seems to me that the weakness of the US economy is dragging Bitcoin down. Now, do you think Bitcoin can even go lower than $50K this month of September or would you rather think that there can be a big rebound days from now?

Why do you think Bitcoin is weak? There is simply expectation and there is reality, perhaps you expected Bitcoin to be at 100k by now? If so, that doesn't mean it's weak, it means that the time hasn't come for that price yet and people have other things to do than just buy Bitcoin and spend money on its PR, now they are promoting meme coins and as we can see, people like it the most, Bitcoin will soon have its turn.

There are many people who expect Bitcoin to reach 100k$; that's why others doubt or hesitate because at 60k$ they notice that it is very difficult to break into the market.

It's really hard to read the chart graph in trading these times; it seems like there are whale manipulators stopping this thing, to be honest. And when the scenario is like this, it's better and safer to just hold for now.

[Gposas]

It is obvious that the US economy is among the determinants of BTC trend, though the price mechanism of demand and supply remains the major determinant of BTC price and trends.
With the sluggishness of trend since the last drop from the ATH,  BTC may likely go below 49k before another bull run.
I only hope it takes place before the end of the year.

[sagarmota10]

It's simple market testing the weak hand.as we see the market always try to test the emotions towards the market. Currently market rumors is ready for alts season but btc and eth doesn't move accordingly so patience level is must in this situation.

In simple words we can say that BTC will move after testing the bottom.

[laijsica]

As of the moment, Bitcoin is standing at $54,334.40 which, of course, is not what many of us who are hodlers are expecting this month of September after a lousy August performance. Since September 1, the price has been on a steady decline from around $57K to now at $54K...with even more possibility of another slide down the hill even getting into the $50K level and lower.

So what makes Bitcoin so sluggish at this time of the year? According to Cointelegraph: "A weak US labor market, fear of a tech bubble, and regulatory actions are factors behind Bitcoin’s recent sell-off."

Seems to me that the weakness of the US economy is dragging Bitcoin down. Now, do you think Bitcoin can even go lower than $50K this month of September or would you rather think that there can be a big rebound days from now?

Why do you think Bitcoin is weak? There is simply expectation and there is reality, perhaps you expected Bitcoin to be at 100k by now? If so, that doesn't mean it's weak, it means that the time hasn't come for that price yet and people have other things to do than just buy Bitcoin and spend money on its PR, now they are promoting meme coins and as we can see, people like it the most, Bitcoin will soon have its turn.

I support you. It is unusual to think that Bitcoin is weak in a world where it is one of the most popular and valuable assets in the world. The possibility that the value of Bitcoin may skyrocket in the near future is very strong and many investors have benefited greatly from holding Bitcoin and the number of its holders is constantly increasing. Investor demand for limited assets is increasing and it is normal for prices to increase with increasing demand. So holding Bitcoin can be one of the best choices.

[Parzival204]

According to most people, the price of BTC is influenced by American finances. This is because many investors from America keep their assets in the form of cryptocurrencies. And even if BTC is lower than 50k, maybe that could be the case if Trump loses in the next election. Meanwhile, if Trump wins in the upcoming election, of course this will be good news for BTC investors. Remembering that Trump once said in his speech that he would support crypto currency in America

[Captain Corporate]

It is definitely not something that we can see a drop right now, it looks like its a fine thing and we can make some money from it. I know that people think its weak, but the price recovered a bit and I can see it reaching above 60k once again, so we shouldn't really worry about it. I know that it will take some time, but its not really that complicated to see that we are talking about something that's quite profitable at the moment. Investing into bitcoin at the moment could bring in a good chunk of money, it shouldn't really be a bad thing, we should consider this as a good way of making some money as well.