Post
Topic
Board Bitcoin Discussion
Re: Bitcoin price tanking past couple of days was caused by...
by
Asuspawer09
on 22/01/2021, 09:28:22 UTC
I’ve also mention that in my post where the double spending news might affect the market :

Probably it was just supply and demand thing in the market, bitcoin was recently just pumping in the past month so most of the people are already expecting a correction at this point.

There are some articles about a million bitcoin sell of in the market, its already too risky to hold bitcoin at this point if your not going for a long term investment since we already have a big resistance at 40k$.

Also according to some research majority of the investors think market is already in a bubble, personally i think market is already at its limit and needed some correction at this point. There are also some negative news about bitcoin that could affect the market like this double spending thing:

https://markets.businessinsider.com/currencies/news/bitcoin-price-double-spend-flaw-critical-report-suggests-2021-1-1029990921

but we dont really know for sure, like you mentioned that it doesnt happened at all.

First possibility:
The double spend did not happen indeed. Read the actual news,

https://www.coindesk.com/bitcoin-double-spend-that-never-happened


Articles like this could easily affect the price in the market, so we dont know because some of the articles might just be made up by the companies to influence the market price of bitcoin. At the same time market price of bitcoin continue to pump in the past few months so in my opinion its normal in the market to experience this correction, i mean its still bullish considering the last ATH was 21k dollars to 40k dollars.