To be clear right from the start: You won’t find a definite answer in this article. There are many theories why the price is going down, and it is interesting and insightful to look at them. There might be one that you really like, and there might be one you think is true, but we can’t be sure. Some good theories can be found below.
Possible reasons for why the Bitcoin price is going down:
Dell is selling their first bitcoins.
The whales (big Bitcoin holders) are selling.
Investors think Bitcoin is still in Bubble territory.
There is no real reason to go up, and crypto in general doesn’t seem to like stability, so it either goes up or down.
A lot of people have their summer vacations right now. People who hold BTC sell some to get money for travel and vacations.
Sales of Etherium. Around 19 million Ether has been sold for 2000 Ether per Bitcoin. That is 9500 Bitcoin being sold in a couple of days.
Miners are selling and no new investments are being made.
When looking at the latest Bitcoin USD price chart, the downward move looks very consistent. The first and last reasons therefore make sense to me.
Miners are constantly mining new bitcoins and selling them for dollars to cover their costs. They create a constant down pressure on the price. This is usually offset by investors willing to stock up on new Bitcoin. But investments are lacking. Why?