Why is bitcoin going down?

Bitcoin price news: Why is bitcoin going down today? BTC crashes $12.5billion

BITCOIN has plummeted some $12.5billion from Sunday’s high as the cryptocurrency continues to struggle to maintain its growth. But why is bitcoin crashing today?

Why is bitcoin going down?
This latest rocky patch for bitcoin is thought to have been triggered by rumours that the Tether cryptocurrency has been artificially raising its value.

Owned by trading company Bitfinex, Tether has been criticised by financial bloggers who claim it has been plucked from thin air to boost the value of bitcoin.

The reason BTC is up and alts are down is that there are a lot of gamblers that play the lottery on alts. as they can make the largest gain. then if it drops people get scared and sell for BTC. when alts are crashing even more people are getting scared and try to sell there alts as soon as possible. this all ends up in BTC. Then they either sell to FIAT or sit on the BTC as it is still rising.
Then when the storm calms and the investors step in on the really cheap alts. alts start to rise again and BTC drops as people convert back to alts or sell to FIAT as BTC starts to drop.
A very predictable pattern.
So I would say buy alts now or in the next 1~2 days as they are cheap and sell or convert the BTC in the same timeframe

Safety rules were written with blood. That statement sounds familiar to every soldier around. Although we are not dealing with a risk to human lives, losing your expensive Bitcoins by making mistakes trading is definitely not a fun situation.

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