Quote from: fzkto on July 22, 2023, 05:58:49 PM

Quote from: Nrcewker on July 22, 2023, 01:04:53 PM

Quote from: Greggry on June 16, 2023, 06:05:55 AM

let's see what could have be the reason for this drastically continues price falling.

There are many reasons which affect the price of Bitcoin. If a negative news regarding any exchange or big companies associated with Bitcoins comes in public, then people just panic and sell their Bitcoins. As there is more number of sell orders then buy orders for Bitcoins, this makes the price fall more. This signifies that when the demand is low, the price also goes down. This is one of the main reason for which we see drastic change in the price of the coin.

The cryptocurrency market is very manipulative so indeed some news can pump up or dump the price. For example recently sec dumped the price of some pos-coins, having claims that these coins can be securities. After that almost all altcoins dropped a lot. And just the other day ripple did x2. It's a paradox.

I wouldn't say bitcoin is prone to manipulation, yeah there could be FUD being spread by some groups to really deter the market price. But at some point, investors are getting wiser not to listen to it. As compare to let's say the altcoin market, which I believed can easily be manipulated by the devs and then some pump and dump groups.

And that's why the price of bitcoin remains steady or at least we have a good support line at $30k'ish and we might not see a new bottom price this year. We have reach it when the price goes down hard to $15,500 because of the FTX collapse. So I'm not seeing any dumping, it might be a close increased in the price for this year, but I guess it's better that way instead of a downward trajectory.