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Bitcoins Price is FALLING! Here is WHY

Bitcoins Price is FALLING! Here is WHY
Bitcoins Price is FALLING! Here is WHY

Bitcoins Price is FALLING! Here is WHY the price of Bitcoin is down bigtime dragging the entire crypto market with it what are the big factors that are impacting the current state of the Bitcoin market and what does it mean for the longterm vision of Bitcoin before I break all of that down for you a quick reminder that block Phi is running a special signup bonus until the end of the month you can get 30 dollars in free crypto by making a deposit of 100 or more and holding that crypto in your account until the new year the offer is only valid until December 2nd and only applies to new users who sign up using the link down below and use the code Larke 30 if you have been curious about testing out the block fight service and this is a really good way to get your feet wet earning 6.2 percent on Bitcoin 4.1 percent on aetherium an eight point six percent on USD and of course to get a sweet thirty dollar bonus so the price of Bitcoin is under seven thousand dollars the Bitcoin fear and greed index is currently at 21 showing that there is a state of extreme fear gripping the market the psychological rollercoaster is definitely testing the determination of many Bitcoin hot lers at the moment so many are being shaken out by the markets the slow creeping pain of terrible financial loss is dominating the thoughts of many a Bitcoin Hodler snap out of it guys come on come on its Bitcoin guys dont youre that classic investing Maxim be greedy when others are fearful and fearful when others are greedy investing requires a strong mind that is able to be contrarian to the herd bear markets and Corrections like this they are amazing financial gifts the market gives you these from time to time accept that gift dont deny the gift recognize them for what they are one Bitcoin is still one Bitcoin the daily price noise of Bitcoin but what really matters is steady continuous accumulation of Bitcoin over the long term stacking sass and Chile and giving yourself a partial ownership of the strongest computer network in the world bitcoin is a scarce asset that being said lets talk about the price Bitcoin in these kinds of moments everyones jumping on the bandwagon and throwing out all of their price predictions many of them of course quite bearish our strongest support zone looking down is around 6, 000 dollars will it hit will it hold if it does time will tell but what has spooked the market so damn much well a few things are having a really big impact on the market theyre all coming together at the same time well lets start off with China two weeks ago China was our buddy China came back safe crypto man yeah but as we all know and it was thinking that classic blockchain not Bitcoin route but it did seem like things were were gonna be okay and then blamo China decide to crack down on crypto currency exchanges in a big way now it all started off with rumors of cops raining the buy Nantz and the bit hum offices in Shanghai although both companies have denied those rumors then shortly after that we did see an official statement coming out on Friday from the Peoples Bank of China warned it was taking action against entities involved in trading crypto currencies it seems like in China at least some of these some of these insider companies or some of these companies have insider connections companies like Colby and okx theyre kind of out of the sights of the regulators at the moment but both Shanghai and Shen then have vowed a crackdown on cryptocurrency exchange as weve seen by Nance and Tron have basically am banned from Chinas uber popular social media site called Weibo all of that may sound a bit worrying but you have to give it a respective Chinas been doing this kind of stuff in crypto for years for years and every so often theres a new announcement of a crackdown on mining or a crackdown on trading or crackdown on something else the market goes into a big old panic like this hasnt happened before its happened so many times its gonna happen so many more times stop taking the bait everyone seriously so what China does and of course Chinese black market for crypto remains absolutely huge in spite of all the official efforts to crack down on crypto they have been totally incapable of cracking down and actually taming that market stop falling for the China for the Chinese are still buying crypto like crazy even if the government doesnt like it then of course theres the minor capitulation story which has been weighing very heavily on the markets recently and I covered this topic very much more in depth in a separate article so go watch that if you want a real hardcore breakdown on this but I will add this into it the most recent price drop has put even more significant pressure on the smaller mining operations that are already running on very thin margins the pressure for these small miners to either shut off their miners and make no money or to dump on the market to keep being able to mine Bitcoin just keep the the lights on really that only grows with every single price drop that we see of course we have to also account for the derivatives markets which in particular interest is all that Wall Street paper garbage contracts that were seeing they have a CM e which is offering their paper garbage contracts now backed is going live with their paper garbage contracts on December 9th back is also launching Bitcoin options so we have that to look forward to yay but backed it seems very quickly decided to not be backed although theyre physically subtle contracts will continue to trade so there is that but its the wall streets of screw Wall Street in fact the volume for those physically futures have increased recently so gahafer backed I guess but they are firmly going in the direction of paper garbage contracts at least by bit and bit max and the others thing is real Bitcoin for their platforms paper contracts on Wall Street garbage and of course on from the derivatives markets the ever pervasive theory that there are simply antihuman dark cabals out there which are suppressing the price of Bitcoin to eliminate human freedom to drive us into the increasingly powerful Big Brother police state matrix supported by the Fiat scam with the eventual goal of basically oppressing us all under some kind of Orwellian Chinese Social Credit system of permanent financial human slavery and of course whales but you know theres that theres that side of it now I dont you want to give to that but certainly there are some things going on out there in the Bitcoin land but to expand a little were on the idea of actually the whales themselves never fully discount the moves of whales there are some single players out there with hundreds of millions of dollars worth of Bitcoin their ability to manipulate the market oh its so powerful its so powerful those guys been splashing around recently moving steel 40, 000 Bitcoin here 40, 000 Bitcoin over there who else man Wales anyway oh that aside but we are most likely looking at is that the rally is simply losing its momentum we went too far too fast in the market has come back into a strong cooling phase in the form of this correction the China news from two weeks ago was unexpected but really only delayed the inevitable slide downward that were seeing right now a volume has been quite anemic recently with some exceptional days aside the average daily volume has been quite low we still suffer of course from really low crypto adoption across the board for all crypto currencies even if adoption is increasing all the time we have new merchant networks on board and crypto we have all these phones and browsers theyre starting adding crypto wallets gamings taking decentralized finances rising in prominence all of the time and more and more people are waking up to the reality of the completely freaking broken Fiat Ponzi financial system all of these reasons and more are playing into the the price bottom continuing to fall out from under Bitcoin but the macro picture for Bitcoin still freaking awesome you know it the state of a price noise it doesnt have me worried it really doesnt I know that some of you may want me to panic and go out here make a really bearish article but let me tell you this getting salty about the falling price Bitcoin doesnt change anything pretty useless it just messes your head up it makes it way more difficult for you to see the opportunity that is being given to you right now if you bought Bitcoin and believed in Bitcoin at thirteen thousand dollars then why dont you believe in a now the network hasnt changed the revolutionary fundamentals of crypto currencies and particularly Bitcoin has not changed just your perception of these revolutionary fundamentals has changed based on achill manipulated market based on fiat valuations the reality is is that the halving is coming soon we have never seen a new high before a halving in fact the time before having z is notoriously rough and humble and a bit turbulent we should be watching for the new peaks to come a year to 18 months after the halving which is on the one hand a really really long time and on the other hands kind of just around the corner big picture right we are still in a long accumulation pattern enjoy this time six months from the having and looking at highs a year post having that gives you a lot of time to accumulate stop worrying about that day to day price noise focus on getting as much of a stake in the network as possible dont play the tomorrow game dont play the next week game play the next year or five years or ten years from now gay be patient thats where the biggest gains have come from longterm holding Bitcoin the guys who bought Bitcoin it you know three dollars a hundred dollars and sold it later for thousands thats the big game the bump lower taxes of course on longterm holdings is just an extra incentive for you stacks SATs and chill the potential to get a five or ten or even twenty percent discount by you know sell your Bitcoin now into fiat and trying to buy back lower sure thats there but no one actually knows what the market will do tomorrow theres a lot of good educated guesses out there but the upside potential of Bitcoin is mindboggling just be patient stack SATs and chill uses as a time to average in at a lower price and acquire a bigger stake in the Bitcoin network the reality is that we are still in an early phase of price discovery for a scarce asset even though were 11 year is in you have to think about how early we still are Ill finish with a quick quote from Charles Hoskinson on the price of Bitcoin he said bitcoins price is going down remember everyone after the FUD the news trading and the manipulation clears out we still have a global movement thats going to change the world we will see 10, 000 Bitcoin again and welcome hundred thousand dollar Bitcoin crypto is unstoppable crypto is the future I agree with Charles thats what keeps me here the price its inevitable when you understand that the price is inevitable that we are going to see much higher highs in the future its simply a game of waiting in patience it makes you realize that this revolutionary money is here and its very exciting you just have to look past that noise that we see going on anyway guys thank you so so much for watching todays article I hope that it was some useful information for you as always Im really really keen to hear your thoughts so please hit me up down below in the comment section I read them all I get to all those comments even if I dont write a comment back to you I beliefs read it so get it hard or something from me Ive read your comment and thats awesome I love reading those guys really theyre really great so thank you so much taking the time to write those comments and of course super big shout out everyone who is hitting that like button I know its a weird thing the YouTube boss they like like button weird thing but anyway if you guys have a second hit that like button thats super awesome and of course if youre new around here subscribe to the channel long live the blockchain and peace out the next time

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