Bitcoin has seen over 10% drop in the last 24 hours

[BrolySSJ]

I was really much shocked to see the price graph of Bitcoin today, I'm losing my investment as I have bought Bitcoin at 40800$ and now its down to 29000$,i wish i could have money to buy btc now. I believe its price will again cross 40000$ in the coming month.

This was quite a high price that you bought Bitcoin at, and to be honest I do not think that Bitcoin will pass the 40k mark in the coming weeks. However, do not despair. Bitcoin is one of those coins that will continue to rise with time, and it will regain its status in the future. However, you need to be very patient. Try not to sell off your Bitcoin at a low value, but rather try to look at holding it securely during this time and in the future it is likely to bring you a profit.

 

[Highflyer]

According to CryptoQuant CEO Ki-Young Ju, the reason for the drop can be partly attributed to crypto whales who began to deposit large volumes of their Bitcoin holdings to exchanges in order to cash in on BTC's record highs

 

[Josemendez]

Well as for me , I think this is basically due to the fact that small investors have given in to panic sell ,and this has affect bitcoin drastically . Presently , Bitcoin is still struggling between $30,000 to $33,000 price value . I hope that big investors can do something about this.

 

[Taimoor Jutt]

I do not think so that Biden the American President, is behind the downfall of bitcoin price. But it is not good sign as its price went down too fast. It might be because of many people did withdrawal investments or leave the BTC so it's value went down so quickly.

 

[Planet408]

I honestly can not tell specifically the reason behind the massive and sudden drop in crypto currencies recently and most especially bitcoins. However I don't think the new president Biden has any influence over crypto currency rise and falls. Currencies always rise and fall anytime. Besides, biden has not yet be sworn in to office.

 

[Sehrish]

Big movements in the prices of cryptocurrency is not new as digital coins as susceptible to volatility in crypto market. Some market players however believe that it could be a perfect opportunity to buy bitcoins.

 

[GoldenLady]

This fall in bitcoin wad to be expected. But a single drop does not mean consistent loss in value.

Even if the inauguration has to do with it, it should be expected to go up again within a few days time.

 

[Erik4150]

The Biden presidency has absolutely nothing to do with the drop in bitcoin price. Economy not politics is what affects cryptocurrency. I think the reason bitcoin is dropping is that more and more people are buying it everyday.

Post automatically merged: Jan 22, 2021

The Biden presidency has absolutely nothing to do with the drop in bitcoin price. Economy not politics is what affects cryptocurrency. I think the reason bitcoin is dropping is that more and more people are buying it everyday.

 

[kayode10]

This further shows that Bitcoin is obeys the law of market demands and supply. The drop in price of Bitcoin shows there high supply of Bitcoin into the market as Poeple are selling. When the supply is high than the demand the price will fall and that is what happen to the price of Bitcoin.

 

[Jonaville]

People should not panic. If you invested in Bitcoin, don't sell it out of panic, fear or desperation. To be honest, I saw it coming. There is no way Bitcoin will rise like that over the past few weeks without experience a dip in price at one point. So y'all should let it be. It will still rise again.

 

[Patrik]

Taking on consideration the value it had in the last 2 weeks, i wouldn't mind a single drop in 24 hours, because that's nothing compared to the massive drop it received in the last days, almost a loss of 10.000$ in value!

 

[Lagazine]

This is one of my forecast I was predid.

Post automatically merged: Jan 23, 2021

This is one of my forecast I do predict the next move of the general members will determine that. I know the price will fall by the end of January it will ma

 

[Yewande]

The Biden presidency has absolutely nothing to do with the drop in bitcoin price. Economy not politics is what affects cryptocurrency. I think the reason bitcoin is dropping is that more and more people are buying it everyday.

Post automatically merged: Jan 22, 2021

The Biden presidency has absolutely nothing to do with the drop in bitcoin price. Economy not politics is what affects cryptocurrency. I think the reason bitcoin is dropping is that more and more people are buying it everyday.

On the contrary, I'll say more and more people are selling their Bitcoin everyday resulting to a drop in the market. Selling reduces the value of Bitcoin while buying boost the value of Bitcoin. More buying means more value

 

[Abbas ali]

Yes I have also noticed it but I think it was influenced by the inauguration of PRESIDENT biden, when events like that happen in the USA, the dollar pair rise up in value and in that case Bitcoin drop in value. The more the dollar rise in value, the lower Bitcoin get in value and vice versa

 

[Iamsodex]

I don't think Biden's inauguration into office is the reason because the price of Bitcoin is only measured in dollar just like it can be measured in any other currency, it's price is not tied to dollar at all, the fall is just a normal situation as we always expect price to find a suppor and resistance zone.

 

[Aniwhyte]

Bit coins seems to be dropping massively as each and every day's passes by, these all started some few weeks ago. And I'm actually not happy about it as it is drawing other alternate coins down also, because they normally rises when bitcoin rises and appreciate when bit coin is appreciating also.

 

[Rashid]

No i don't think this would be a reason in BTC price decrease. Every coin is going down but don't know what will they stable and go upward. From 10 days or so Its color is red it means decreasing constantly, now price is $31k everyday there is a minimum 1k difference is normal for BTC. Anyway it will go up now.

 

[Dowenship]

I dont think it as anything to do with the presidency of biden.. I think is because of human factor, it won't be surprising when the coin shoot up as usual and people will rush into it again. I think its like a circle to draw and withdraw people.

 

[Yewande]

Yes I have also noticed it but I think it was influenced by the inauguration of PRESIDENT biden, when events like that happen in the USA, the dollar pair rise up in value and in that case Bitcoin drop in value. The more the dollar rise in value, the lower Bitcoin get in value and vice versa

I highly doubt if it has anything to do with President of the United States inauguration. Bitcoin dropping was expected and it doesn't mean it won't go up again. There's nothing to be scared about for long term traders

 

[Dubai]

The cryptocurrency markets have seen a massive drop over the last 24 hours, with coins such as Bitcoin and many more of the altcoins as well noting a considerable drop in their price. Bitcoin is currently valued at just over 30k, which is more than a 10% drop in its price over the last day. What do you feel are the reasons for this?

Do you think that the new Biden presidency has anything to do with the drop in Bitcoin price as the dollar begins to strengthen against the other currencies? Or do you think that this is just as a result of people selling out their coins to prevent future losses?

It is unsurprising that Bitcoin recently had a drop in its value. It rise and fall in the value of bitcoin has a lot to do with the whole global money market, in terms of foreign exchange. I don't think the crash in price is due to people selling out their coins to prevent losses. It's a collective factor from many policies and change is the flow of fiat was well as crypto currencies in the money market.