Quote from: KingOfWinterfell01 on October 20, 2018, 02:01:39 AM

Quote from: hidden_legend on August 17, 2018, 12:33:10 PM

Hi Friends,
What are the reason behind Bitcoin and whole crypto market fall.
Is this SCAMS or SPECULATIONS???

Few days back I read news about a big Bitcoin scam busted in Gujarat state of India.Its approximately $314B( INR 22000 Crore).
Also every day news came from different parts of world about same kind of scams.Are these scams also responsible for crypto market fall and halt growth of this new technology???

****Note(02/09/2018):- Hi Friends,
Thanks for the discussion.I just want to clear few points that I never call Bitcoin a scam.I am just highlighting a news published in a top most news paper of my country.Bitcoin is used to scam people by BitConnect.Latest update about this scam is much more money involved.
From that news following points came into light:

1) A big chunk of money disappear from market because scammer run with that money.
2) The investors who already invested never think or maybe hesitate to invest again.New investors if came across this news try to avoid this market.
3) Because of these kinds of scams RBI and Govt. of India try to restrict transactions related this market which intern affect this market.
I read same kind of scam cases came into light from different countries like Indonesia, Malaysia,Thailand, Japan, Canada UK etc....

I also read a news that many prominent crypto exchanges and crypto personalities joining hands to ride out these kind of scams.I hope they will succeed in their mission.

More over this post is not to panic any one but to discuss and spread awareness about this new market.

The way I see it, this is just plain market manipulation from whalr holders. Maybe they ask newbies or FUD the newbies to sellout and streak out their bitcoins at a lower price to buy it from them. Eventually, a sacrificial whale will sell their bitcoins at a huge price spike and then the whole crew will start dumping at that price making a profit.

I think it's because there is too many negative news about cryptocurrency in out there that makes people in cryptocurrency become panic and sell their coins. With doing that, I think this makes the price to go down deeper, and as we can see in a few months ago, the market fallen without any chance to increase. But right now, if we check on the market, we can see that the market is trying to rise again, and I think the market will increase higher soon. So we need to be patient and don't sell any coins if we are not making a profit.