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Why is Bitcoin Going Down in September?

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Why is Bitcoin going down
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As the time passes by, it would seem that cryptocurrencies are dropping more and more, making a lot of investors panic. The crypto market situation has been bad throughout the year. Week after week, month after month, the bad news was piling up, and the prices kept dropping. Traders and investors keep asking themselves why is Bitcoin going down?

Of course, there was good news as well, but it would seem that the good simply wasn’t enough to outweigh the bad. Then, in August of this year, things finally started looking up. The prices were surging once more, a lot of positive development came, new projects, partnerships, and more. The investors’ confidence started coming back, and we even saw an increase in interest in cryptocurrencies.

However, the positive development soon ended, and now Bitcoin and its altcoins are in another free fall. The prices are going down once more, as the market returns to its bearish nature. A lot of investors are wondering why that is? Why is Bitcoin going down, especially after everything seemingly fell into place back in August? There are actually several reasons why this is happening right now, and while nobody can do much to fix it by themselves, it is still useful to understand what is going on.

Why is Bitcoin going down?

Bitcoin has gone down numerous times this year, and for various reasons. Whether it was oversold, or it experienced negative news, or something else entirely — these things have been known to influence its price. While Bitcoin is only one of the hundreds, possibly thousands, of cryptocurrencies, it is still a representative of the industry. As such, whatever happens to BTC, usually happens to altcoins as well.

This summer, Bitcoin went up and down multiple times, with its price oscillating between $6,300 and $8,400. Its crashes have been mostly associated with the Bitcoin ETF requests that various companies filed. So far, the US SEC rejected them all, which demonstrated their lack of trust in Bitcoin.

A lot of experts claim that it is still too early to think about the ETFs and that this is something best left for 2019. However, there is also a lot of those who believe that the time is right. Obviously, the SEC does not share their opinion, and so far, it has either rejected Bitcoin ETF requests, or it has postponed the decision. In both instances, they damaged the market, as the investors’ confidence in BTC wavered.

This is mostly what caused the Bitcoin crash back in July. When it comes to August of this year, it was pretty kind to cryptos, and it even had a small bull run that led prices up for the first time since May 2018. However, as August came to an end, and September took over, a new period for cryptos came as well.

September market crash

It all started about a week ago, on September 5th, when an old crypto wallet that has been dormant for four years started to grow active again. The wallet was filled with BTC, and it started splitting the coins into smaller groups, which it then proceeded to send to various exchanges. Nobody knew who the wallet’s owner was, and different theories soon piled up.

But, why is Bitcoin going down? Well, as mentioned, the wallet was full of BTC, and it contained around 111,000 coins, This was an equivalent to over $800 million according to BTC’s price at the time. The investors feared that, if that many coins return to the circulation, BTC’s price will go down either way. So, many of them cashed out, and the price dropped anyway.

Then, only days later, Goldman Sachs announced its decision to postpone opening crypto trading desks. Instead, they would focus on other projects, until better regulations arrive and reduce the risks for institutional investors. This has hit the market hard, as many believed that cryptos entering the Wall Street would be the real game-changer for digital currencies. Now, it would appear that it still won’t happen.

These days, many believe that the price was manipulated on purpose and that whoever made the BTC dump, had some insight in Goldman’s trading desk plans. The fact is that the SEC claimed that BTC is still too easily manipulated and that it is not yet time to approve ETFs. According to recent events, it appears that they were right.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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