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Why Bitcoin's Price Continues to Fall

1787 ratings | 30158 views
Bitcoin has had a rough past couple of months and we've come full cycle now - Last November I made a video around $6k where Bitcoin wouldn't stop rising and now here we are in June with Bitcoin near $6k and it won't stop falling. Why does this happen? In short, the snowball effect or momentum. One lesson passed onto me was that while technology always evolved, human nature does not. When we look at the price of Bitcoin (or any other cryptocurrency), we are peering into the general perception of Bitcoin. We are not looking at a graph based on fundamentals or how the technology has improved (e.g: Bitcoin reached its peak in December / January, when transaction fees averaged $40). With that in mind, what has changed? Well for one, the catalysts that drove Bitcoin to $20k (e.g: hard fork excitement, futures, Wall Street adoption) have become "old" or nonexistent. When some hedge fund manager says he's bullish on Bitcoin, it's no longer the type of event that gets everyone riled up. When a smaller hard fork occurs, no one cares anymore. And the millionth time that the SEC suggests they don't want to regulate Bitcoin as a security, it probably won't spark as much interest either. As price has headed down, people start to think more and more that Bitcoin was a fad. Keep in mind that many people only invested because they saw how many people saw Bitcoin as the "next big thing" or the "biggest innovation since the internet." But now all of a sudden, criticisms from big names like Warren Buffett start to feel like they are a lot more true. Even my YouTube channel has called Bitcoin a bubble since close to inception and now that claim seems "scarier" because price action has validated the idea more. But doubt is not only coming from within the cryptocurrency industry. Stocks have had a difficult time gaining traction in 2018 since the top on January 26th and since then, we've seen sideways trading action. The past week has been difficult due to trade tensions with the EU due to Trump's isolationalist economic policies. Investors are starting to go more risk-off which has sent bond yields downward as investors flock to safe havens DESPITE the fact that central banks are trying to move away from low interest rates. This risk-off environment naturally goes against one of the riskiest asset classes out there, cryptocurrencies. If you look at the viewership of websites dedicated to cryptocurrencies (which you can see on Similarweb.com), you'll find that most websites are only at a fraction of where they were before (Coindesk is estimated to be getting 25% of its peak monthly visitors). The same is true of all other types of media - Back at the peak, it was a "requirement" to report on Bitcoin daily. Now it's reported on far less frequently as the interest is no longer there. For people looking from the outside, Bitcoin really does seem like it was nothing but a fad. And now that there is less bandwagoning, people are more open to saying that perhaps Bitcoin isn't as useful as cryptocurrency enthusiasts made it seem back in the months leading up to December. That makes attracting new money difficult now that Bitcoin has burned many people and the "word of mouth" isn't as kind as it used to be. Will Bitcoin make a comeback? Well at the very least, it will almost certainly have a period of astronomical growth again - Cycles like this are common in markets governed by perception. It's impossible to say if it'll go back to $20k or when the cycle shift will be, which is part of why I've shifted to a buy & hold strategy as opposed to trading like I was back in November and December. And yes, I still think Bitcoin is a bubble. A quick update on where I've been: No where special - Just tired of the cryptocurrency news cycle. I have never absorbed as much content on a daily basis as I did for cryptocurrencies and I only did it for the YouTube channel - it served almost no benefit to my investing (and one could argue it was detrimental as sometimes you get distracted by day to day stuff and miss the big picture). Eventually you get tired of hearing the SEC say the same thing about Bitcoin for the millionth time and everyone getting excited, or hearing what so & so said about Bitcoin or seeing people defend it / attack it blindly. Anyway, I doubt I'll go back to the multiple videos a week, but I am thinking about at least uploading once a week on Fridays perhaps. Hope you've all been well while I've been absent! Also check out my Twitter if you really want to stay up to date with me: www.twitter.com/Truth_Investor.
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Text Comments (382)
Crypto Investor (3 months ago)
At 11:43, I meant August 1st. Explanation on where I've been at 14:46. I'm still alive folks, whether you like it or not! Don't get too excited - I am not coming back to upload multiple times a week, although I am thinking of trying to upload at least once a week. If you want to stay up to date with me, I will be posting a bit more on Twitter (twitter.com/Truth_Investor) so I'm not totally M.I.A. Hope you all have been well in my absence! Also feel free to check out my Steemit if you want to support my content: steemit.com/@cryptovestor.
A. JAY (2 months ago)
Since BTc cash did this, I wonder what other crypto can do that again to BTC?
tchnofile (3 months ago)
Hey CI, thanks for the video, we missed you. I completely understand how you can get burnt out on the news. It’s good to take a break one in awhile. So much of the “news” on Reddit is just people posting stuff that reinforces their views of where the market should be. It’s refreshing not to have to hear all the shilling, FUD, and fomo crap all the time, which is why I come to you! I think if the stock market crashes so will crypto. When people are afraid they will go to cash, not put it into something even more speculative than stocks. Maybe in the future when there is a complete infrastructure for bitcoin that institutions can use and bitcoin actually has some significant adoption it will be used as a hedge but we are not even close yet. One video a week would be nice. I’ll be looking out for you on twitter.
We3K1ngs (3 months ago)
Your a quality content creator and I just wanted to say thank you!
Bartek Celary (3 months ago)
The Twitter account you posted does not exist.
Dave B (2 days ago)
*Favorite comment* : "What ICO should I buy to make lots of money, I will read the white paper and research by watching cryptonick, JR garage, and craig grant and pay $500 for the bitcoin mastery course and not learn what a private key or the spread is. I have tons of money 50k (really they have like 800 bucks that they will foolishly go all in)". Like if you read the white paper and somehow even understand it you will know if the technology is good then make the assumption that this = good,= coins and = big returns. We learned very early on any shit coin could gain in value. So many people with no idea what they were doing (openly showing their coinigy screen and saying uhh I not sure exactly what that is" when it should be obvious, making videos with no series 7, not even read the book, let alone passed the exam, and have no money skills let alone investing which is a whole different animal. I made money but honestly it was 50% luck and I wish I had just held instead of trying to day trade even though I only made a few bad trades in the beginning. Learned a lot from this channel and would like to see what can be done now with bitcoin now that the price is stable. I never got on steam to talk to this guy tried to sign up couldn't .
Ryders Nice (3 days ago)
bla bla bla you seem to talk too much and same goes with your writes ups. Not much value in here, sorry. unsubbed!
The Feelthy Guy (6 days ago)
https://www.seesuccess.online/2018/10/why-crypto-market-is-down.html?m=1
Crypto Mike (25 days ago)
@Crypto Investor, Have you tried playing Aircoins??? Aircoins - Find, collect and trade crypto in Augmented Reality...It's like playing Pokemon Go but with crypto..... check us at www.aircoins.co
Skystruck Crypto (2 months ago)
Somebody promoting you on reddit comparing you to crypto Bobby got me here. Love the channel, you're intelligent in how you present things, I love it a lot. Things up, subscribe, bell notification on :)
Andy Sharky (2 months ago)
very good analysis... interesting int about high risk assets .. however ... you also have "probably" a non correlated asset - BTC .. at least if you look at it as a fiat/crook banks alternative ... it is very true that when people have no money to invest.. it does not matter.. same as real estate crash ... could be really cheap.. but it is cheap because people have no money .. however I think we will still have a bubble before the next recession hits in 2019 ... if not oct nov then anywhere feb-march ... Once the next BTC bubble pops it will be the starting sign for a new recession..
Luke Bell (2 months ago)
I've spoken to a lot of people about this, everyone say the same. There comfortable with money as it is. People don't like change
MrFerdy1966 (2 months ago)
Quitter
Dawod Ahmadi (2 months ago)
We are happy that you are still in this planet. The earth needs you
HJ Bohorquez (3 months ago)
ITS A BUBBLE
Gil Cohen (3 months ago)
As long as there are other coins going into the mainstream, that will devalue the value of Bitcoin and other main currencies.
Alisha Pa (3 months ago)
Thank you alot for sharing your point of view and knowledje)))) I have just found your channel and your thoughts make sense for me. Big apreciation))))
A. JAY (3 months ago)
Bitcoin Is the KING, no matter what, more crap coins= Less BTC Value ! up to us
Flying tech (3 months ago)
60 mill to 12 million is better than 600k to 120k : )
Scott O'Nanski (3 months ago)
Isn't bitcoin up 4000%?
FranticRock (3 months ago)
Great content. There is no such thing as "reality" either. The world is an interweaving mix of people's perceptions.
Brain free (3 months ago)
No sell yes buy more
A RPE (3 months ago)
What make you to do this video?
Sammy296296 (3 months ago)
Well, well, well well well! Look who’s come crawling back! ......I mean don’t leave again, we were worried sick!!!
David Johnson (3 months ago)
Great content as always. Thanks for keeping up with the posts despite crypros losing some popularity these last 6 months. Request: cut video time down to 10 minutes? Yes, I watched the entire 18 minutes but damn, son. Still, great content.
Pașca Alexandru (3 months ago)
Yadda-yadda-yadda, Bitcoin is a value store, value this, value that... I use Bitcoin as Cash. I pay and accept it as I accept metal, paper and plastic money. I payed when BTC was 200, I payed when it was at 19k. What is _money_ ? Is whatever we accept as token for goods and services. (I'm actually commenting at other comments)
Jay Zion (3 months ago)
Very happy to see your return!
USBitcoinServices.Com (3 months ago)
Welcome back! when can we see a video here talking about privacy coins like Monero or DeepOnion? I think your audience will increase, but that is just my opinion!
Crille Gran (3 months ago)
Need more of your videos! Your videos are the best in this space! Reagrds Chris
Parikshit Mehta (3 months ago)
Can you please make tutorial video on bitmex !!!
Parikshit Mehta (3 months ago)
Welcome back !!! Please keep posting your videos its a best channel on youtube. Missed you a lot. Love and respect
Block Boii (3 months ago)
Loving the content here ! very educational. What are your thoughts about Particl ? Simply put, it's a privacy based version of Ebay. Sell or buy new or second hand stuff on a decentralized marketplace. You can also earn interest by staking your Parts. RingCT on mainnet is also a winner imo ! Cheers !
Wealth With Crypto (3 months ago)
It’s natural price reaction
jayc (3 months ago)
You had me at 'today we're gonna talk about'... Awesome video as always, really been missing your view on things, maybe the bell isn't alerting as I'm 5 days late.. Oh well, great stuff keep it up!
Zhivko Kabaivanov (3 months ago)
Will bitcoin drop to 400$ like in mid 2015? I would like to invest when it drops around that price
DumbledoreMcCracken (3 months ago)
Mining will collapse next. The cost will out last the profit trend.
DumbledoreMcCracken (3 months ago)
You nailed it
Dany Aguilar (3 months ago)
because traders, thinking short XD
captainmjapan (3 months ago)
I really love your way of thinking.Whats your take on xp coin?
Chris Lacey (3 months ago)
It is a shame that alts are so heavily linked to the price of Bitcoin as in reality there are so many that offer things that Bitcoin cannot such as privacy, eg Monero, Dash, DeepOnion. Ethereum with smart contracts and tokens. So many alts have cheaper fees and could in theory actually be used as currency which Bitcoin probably could not.
John Ta (3 months ago)
Bitcoin cash was August 1st not April 1st
rod speaks (3 months ago)
Nature of human behavior will never evolve. So you are not an evolutionist... Correct?
Kripto Info (3 months ago)
Where ur vids gone ?
Remco Douma (3 months ago)
Glad to hear from you man. Loved your analysis, as always.
Yeo zai (3 months ago)
Guys, stop using past trendline to do prediction for the future! so many things had happended since then. Bans from Govt, more hacks, more crypto losers, more manipulation. How can one still find similarities in trendlines for prediction. Utter Rubbish!
Eric Onrust (3 months ago)
Good to see you back. Always enjoy listening to you.
David Chu (3 months ago)
A catalyst that could drive up the prices can be Apple, Facebook , google , amazon, etc accepting crypto or launching their own coins
Harris (3 months ago)
ty
Crypto Agent (3 months ago)
Thanks, you are a true realist in this market because of that I keep coming back.
Cooper Carr (3 months ago)
mah fuckka where you been?
crypto picks (3 months ago)
Making BTC bad in 2018. Dude really? Thought we left these days behind. Are you some mainstream journalist? Give up, dude its over, you lost already.
RisingLuck (3 months ago)
Bitcoin as a store of value instead of currency/payment system doesnt make sens to you? You get rid of inflation. Plus, you can transfer wealth in an easy way, anywhere , kinda fast and low fees right? I mean bitcoin has utility. Personally, I use it to deposit on poker sites.
Swanzo (3 months ago)
I'm going to teach you how useful bitcoin is right now in the comment section. Anyone that wants to hook me up send bitcoin to this address 1MVbYtebWTjn97dwFqKBAqijQUDRg6iQoJ No bank needed, no filling out retarded forms at Western Union, you don't even need to know who the hell I am. That is pretty useful to me.
Oliver Slade (3 months ago)
@Crypto Investor, what are your moving average line settings, they are nice!
Christian Achilli (3 months ago)
I start thinking that Crypto Investor is Satoshi Nakamoto.
SS (3 months ago)
Where the hell have you been!!!
Oscar Rovala (3 months ago)
The information you’ve provided is very useful. If you follow the news cycle it’s difficult to take a reasonable perspective. If what you do is post a video every two months, the perspective you have is extremely relevant. In fact, I think it’s better to have less videos because the information contained within is more likely to be pertinent. Great work, hope to see another video in September.
Thought about you not posting new videos just recently. So nice to hear from you again! Like as usual
Scorpion Investor (3 months ago)
Appreciate your content as always. I learn a lot from your videos and like your candor.
Beniamin Miara (3 months ago)
because you are boring
Ashley McDermid (3 months ago)
Would support a once a week vid if that's what you feel like doing
Kirill Ivanovich (3 months ago)
Hi! 1.Don't you think that you are calling for selling low? Think about it. Last time I heard from you, you were calling for the second run = had the same herd mentality as the majority of the market. (don't mean to offend you, I was even worse, I was HOPING for the second wave). In my opinion, the next stage in Bitcoin price should be the accumulation phase before the next bull run. Don't know when though. 2.When the global uncertainty in the financial markets is on the rise, don't you think that Bitcoin can become a good hedge against all other markets. It has exactly the right philosophy behind it. Screw bankers, politicians, debt and all other stuff. Also, it is perceived as a SoV. Even as it is a riskier asset, adding Bitcoin to a portfolio decreases the overall risk of the PORTFOLIO according to the Harry Max Markowitz portfolio theory. Good to have you back. Checked my youtube literally every morning. Don't watch other crypto youtubers.
• Riftis • (3 months ago)
I doubled my money on bitcoin cause when it started to tank really bad I removed my investment before I made a loss, coulda multiplied my investment by 4 or 5 times had I sold earlier, but my plan was to wait for one more pump before I took it out, which bit me in the ass but whatever I still profited. When I saw the market really start to drop down I wouldn't say I panicked, but I did think the bubble might be bursting and that remaining invested didn't seem like the right move, until I could see it was clearly coming back up to its previous heights, anyway. I honestly think bitcoin will trend downwards/sideways slowly for some years to come at this point, based on previous trends. Eventually there will be another explosion but I don't think remaining invested is worth it currently.
Symlex Brn (3 months ago)
I lost money
Daniil Dimitrov (3 months ago)
Dude you're saying the same bulshit since november . This market is 100% manipulated and thats the reason.
Marcelo (3 months ago)
What software is this
Erica Beache (3 months ago)
Welcome back.
Luke Boustred (3 months ago)
as someone that brings a very balanced, behavior-driven approach to investing, you should really create content beyond just cryptocurrency, especially as interested wanes during this cycle. commentary on other markets you are invested in, and content similar to understanding market psychology (e.x. your mental gymnastics video) would be great!
Bitcoin Lifestyle Club (3 months ago)
Yes! This feels spot on. Thanks for the share! I knew I was getting in this long term and I look forward to the rise again~
Ryan Sweet (3 months ago)
I've been hard on you a few times with my comments. I've said those things because I care. Your videos and the information you share are second to none. Glad to see you post a video. I follow you on Twitter too. Looking forward to future content regardless of the time in between posts. Cheers!
Quickk Sa fugim (3 months ago)
I don't care if you loose or win money. I don't even hold crypto, but I watch your channel because is good. I got surprised when I saw this video appearing on to my suggested vids. Welcome back!
megatron184 (3 months ago)
If you haven't been as interested in the crypto market/news cycle lately, where have your interest been? What have you been studying over the past couple months?
deuce 1307 (3 months ago)
Really nice to hear from you. I totally get why you have been absent, it just isn’t as interesting right now. Sad, but true. I look forward to more content down the road.
Steven Foott (3 months ago)
if bitcoin goes back to 20k or surpasses it, uploads likely will resume to 2 x per day.
samyvellu Muthu (3 months ago)
ya ya All your friends told my friends you did lost lotsfull .
8YaD5 (3 months ago)
i really thought you do not live anymore.
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Joshua Wright (3 months ago)
Thanks for giving a no BS succinct video ...informative and necessary. Quality over quantity my friend 👍🏻📈🚀💪🏻....subscribed
Jason Sampson (3 months ago)
You, like everyone else, have no idea what will happen next. Negligible value in these videos. If people believe in the future of decentralized money and Dapps they should invest in some solid coins, HODL, and forget about the daily minutia.
archhangell (3 months ago)
Such a long wait. Good to have you back!
c W (3 months ago)
Haha sorry I don't mean to laugh but for the last year and a half I've been saying bitcoin and most cryptos will either crash or be bought out by the large IMFs who have been tediously constructing their own blockchain for over a decade now and everyone who thought bitcoin was going to bring about the end of the banks was conned out of their money and gave free money and R&D to the bankers on how willing people are to invest and "hold on for dear life" to their digital fiat currency in some hopes it'd rise to the power level of the elite banks when in reality the banks will just own it or crash it to get rid of it when they roll out their own
Rifter6 (3 months ago)
What software/service are you using for those charts? Is that Coinbase? Thank you and I really appreciate the insight you share with us.
Captain Cumalot (3 months ago)
I think you sound very depressed'Like the last 2 months you haven't been updating you've been lying in a dark room listening to Hawthorne Heights. Go outside. Smell the grass. Go pat a kitten.
Crypto Investor (3 months ago)
https://www.youtube.com/watch?v=4zLfCnGVeL4
Sokercat (3 months ago)
but it is a great oportunity for those who came to cryptos to late to catch some cryptos, you have some interesting cryptos like iota cheaper that has a great potencial, be greedy when people are scared. but be greedy in the right way of course.
Sergio McMendez (3 months ago)
Man, I adore your honest videos! If there’s no crypto news, just make any other video :)))
Alberto Carp (3 months ago)
welcome back
Dave the Wave (3 months ago)
I think you just called the bottom.....;
One/Crypto/Revolutionary (3 months ago)
Welcome back. Or not. See you at the next bull run.
Satoshi Nakamoto (3 months ago)
Bitcoin is dead. In next 2 years goverments will ban cash and we must use their fully centralized cryptos. I looking forward becoming slave finally. Communism will concur.
Michał Lip (3 months ago)
such a great value.
a64750 (3 months ago)
Millennial .com bubble. wait for personal transactions in Digital Debit Cards
JSYK (3 months ago)
Just keep posting and share your thoughts, they are very good enough
Mike Martin (3 months ago)
"beginning to happen..." "starting to..." It's been 6 months, it's gone and happened to conclusion for the most part..
LeakYou.com (3 months ago)
Great work.
Zee Zappier (3 months ago)
The day my mother can buy Bitcoin - EASILY and use it to buy services / products is the day Bitcoin will be a thing!
MrPolymath0 (3 months ago)
That's it, I sold. I'm free. I'm free form this fucking hell of scammers and pajeets. It was fun and games for a while, but now its just a cruel sick joke. I bought at 15k. No human can look at their money disappear before their very eyes and not be bothered. You know we're going to 3k, right? People in some countries can mine btc at that price, its going to fucking happen. You know it, I know it, lets all stop pretending that this is gonna be anything but a bear market until 2020.
Mark Patrov (3 months ago)
Thanks for the article!EOS Coin (EOS): Token Sale Is Over, What's Next? http://cryptodetail.com/eos-coin-token-sale-over-whats-next
110101110001111100 (3 months ago)
Thanks for the video. Have been waiting for your new vid soooooo long!
Military Miniatures (3 months ago)
Buddy, great to hear from you again...Been wondering about your absence. I've always looked forward to your analysis.
Malcolm Scott (3 months ago)
great to have u back
John Smith (3 months ago)
ITS ALIVE ITS ALIVE!
Johnny L (3 months ago)
We doubt very much that Tether has even 10% of his co called US Dollar reserves to back Bitcoin. Our investigation is suggesting Bitcoin value could fall to around $800 by middle of next year.
Luigi Fiore (3 months ago)
The best coins for me this year: Tron, EOS, ICON and GRAM. Gram is a token of Telegram) Now there is a ico www.icostarter.online/telegramtoken
mickel ans (3 months ago)
ETFs and infrastructure for institutional money. 2017 was the year of ICO hype and retail money. 2018 is the year of regulations. Maybe 2019 or 2020 will be the year wall street gets in.
jay N (3 months ago)
mickel ans or maybe they just keep saying etf. Wall Street etc just to keep selling to you at high prices . It’s not that hard to pay off CNBC and make them taking about etfs and wall street as the whales sell on the way down

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