Reasons why Bitcoin fell down in price
- Goldman Sachs had a plan to launch a cryptocurrency trading desk. They abandoned this plan causing the price of bitcoin to go down.
- Big whales are manipulating the market. All technical analysis showed a bullish trend, the whales just manipulated the market and caused it to be bearish.
- Some unknown activities are being held in deep web (Dark Web) markets. The reason might be using other safer cryptocurrencies other than bitcoin among the drug dealers.
- A lot of investors seems to have made a lot of money with bitcoin, they are cashing in together causing the price to fall.
Despite all the volatility in the market, bitcoin price is still over its market value. Crypto analysts predict the stability of the price around $10k starting in December 2019.