Bitcoin Forum

Reminds me of the giant stock selloff during the fall of 2008...Do you think that most of the selloff is done by small/inexperienced investors or from whales?
How long can it go>

I've been wondering this too.. Is this sell off panic from the all the new people who have gotten into the market after recently reading about Bitcoin, or is there something more? A correction was bound to happen, but who knows how big or small it will be.

People see sell off. I see opportunity! I need more liquidity though. 

This could very well be a temporary drop like it happened few weeks ago, but who knows, I recommend hodl your coins and dont panic sell.

i am treating this as the pre-christmas SALE before we enter the new year.
the sale maybe caused by both whales and newbies or rather started possibly by whales and followed by panic selling by others.

Is there is any special reason for the bloodbath or mere profit taking?

For e.g. :
Charlie Lee of Lite coin sold all his holdings before the crash. Looks like the folks have an idea when there is going to be a dump. I meant the big guys.

welcome to the down trend, my best guess is that market will decline until the end of the year, or maybe longer, while people regain confidence in coins

Definitely gonna treat this as a sale. Great opportunity to buy more. If you are scared, then have a look at the dips this summer and see how high we have reached since.

Totally agree. I see it as a giant garage sale...but need some luck to figure out the bottom..

Charlie Lee belongs in jail!

He could sell his LTC and be silent about it, but he wasn't i'm sure that this is just bad timing and has nothing to do with it.

Guys, this is the long awaited crash. Most coins grew 10x this year based on only hype!! Millions of people buying small amounts resulted in a gigantic upward trend with values based on only air. Now the downward trend started, lots of people will realise they wont get rich anytime soon and in fact lost money. Buying extra is only a way to spread the loss over more holdings.

So expect values to dwindle down to May, June 2017 prices which where much more realistic, so don't put your live saving in alt coins. Remember the DOT.COM bubble burst and then grew until it became as big as it is today.
Also currently most governments are preparing laws to tax BTC holdings and restrict ICO, on top of that the Bitcoin netwerk is not performing anymore and using to much energy to be future proof.
 
If you wanna play, do daytrading. Find a nice trend, ride it a few percent and sell.

According to bitcoin price analyses, there is a support at $10.000 and I feel like it will decrease to $10.000 probably see @9999 as well

I guess some whale has decided to cash out some FIAT and panic sellers are now gifting them with better rebuying opportunities.

The support is not real. Its huge orders of whales and market makers. When the price goes down to 10K they will cancel their buy order and put them in at 6K etc....

I think there is a few things going on, but I do think that some is a general sell off, nervous noobs and the fact that we need a correction. Everything has shot up over a matter of days or weeks, more than it should have. There should have been a correction weeks ago, but there was so much new blood in the market you couldn't see it. Now there is nerves and we're seeing the correction.

Bitcoin went from 1 to 100 back to 1 to 50 to 200 back to 50 etc. This doesn't remind me of stocks at all, it's just what bitcoin has always been doing.

The thing is, we've seen this happen many times before, and we'll certainly see it happen again.

Is this up/down trend gonna happen till end of year?

Like ripple, back up to 0.9

Is it wide to sell short term and buy back when it drops again?
Knowing my luck i will sell then it will moon

Current huge support levels are on 11 and 10k if they get eaten no one can tell you how deep the rabbit hole is.Some of this crash is cause but buy margin trading and long positions being closed because of small stop loss that caused a chain of trades being closed(1 level triggers the next 1 and the circle continues)Another part are the weak hands that bought btc at 18-19 thousands and are selling of now as they dont really have experience with crypto market

Weak hands will fall,the others who hodl will prevail this is all well planned by roger ver and his chinese friends.

We did really see bloodbath on here not only just on bitcoins price but on most alts in the market are on reds now which i would say its just a normal thing either on inexperienced investors or even on whales on where there are really the exact time on making profit taking. This is how the cryptocurrency market is so unpredictable. We might see the sky on recent times and later on in the end of the day we are already on the ground.This is why always expect the unexpected.

YEAH THIS is the biggest crash I have seen over the last few months and lately we saw too many corrections in 2017. I still believe we have longer to go as we are coming up to Xmas. I don't see much green till maybe next year when everything has tanked right at the bottom but the problem is mainstream investors are not gonna want to invest in this type of market if it is so volatile and violent lol. So if peeps want to see new money coming into crypto they are not making it happen correctly when they crash the markets to profit take every few days like this.

Let's all tighten our seatbelts.. Its gonna be a rough ride.

yeah.. what is really happening with the market right now? all are turning red, and having the same pump and dump value at the same time. I think the whales play a big role with the recent dump. We are not sure till what price it will dip.

It was almost certain that bitcoin will correct somewhere after the price of 20k. Nothing unusual guys , if you ask me , the real bloodbath hasn't even begin yet. It's safer now to start to look upon alts and good ICOs before bitcoin goes even lower at price.

This week is going to be crazy!  But... if you believe in the future of crypto then it's good to load up.  I'm going to make a daily purchase until the market stabilizes or begins to climb.

In my opinion, it's all about big whales. They fix profit before the new year, it can not always grow, but it will not profit, so you need to catch the bottom and buy. And when whales sell, there is a panic sale

Whales will just ignite the small dump but the real crash is from panic sellers who are weak hands bought at the peak. Whales will soon start to but everything cheap as 50% crash happened and it's healthy for the market. Whatever it maybe finally whales will make profit and panic sellers lose.

looks like we're climbing back up now.

that is what I love about crypto currecny market. Always unpredictible. Today's panic selling is caused by the whales of course, not by the inexperienced traders.

A friend of mine said that he's going to dump his coins in order to buy gifts for his loved ones so I'm also thinking about a while ago that I'm going to do the same and now I'm thinking also this reason could lead to massive sell-off because people choose to buy something for their loved ones as a gift this Christmas.

Hopefully it will climb up back because after the massive dump some investors are taking this opportunity in order for them to invest more with a low value and sell them off when the price is again is higher.

Yeah! Sit back and relax because the roller coaster is about to start the engine. Bitcoin and Altcoins will soon start the race.
But for now, I'm thinking if I'm gonna sell off my coins and invest more into Bitcoin.

I choose to hold my coins although I wanted them to dump but let's see if I could hold them off. But about this time, people would choose to hold than dumping especially they're have their other sources of income.

I think a lot of people took out a % of their profits.   We have had a good run and I think people want to relax over the holidays and then look at putting some of their profits back in.


I think we will go down and up and down several more times before this is over.    :o ;D

Such a huge and sudden drop in all coins and tokens can be orchestrated only by a syndicate of whales.... maybe its over is over, maybe a big selloff so they can scoop up everything back in very low prices (after smaller investors sell out due to fear). Who knows? It could also be orchestrated by the 'twins'

That's how experts make money from crypto markets globally. They know what is unknown for us. They predict what we can't actually predict. Then it becomes a party for the market experts and rich whales.

I hope you are right, but on the other hand money never sleeps...

I think, when you see a wall of 20 or 40 Bitcoin in the list of selling, it is frightening. Some want to buy more Bitcoin cheaper, some just want to sell their Bitcoin.

I agree, I haven't seen this crash, even during the height of the China crackdown on bitcoin, it didn't fell to more than 30% if I'm not mistaken. What we are seeing is a first not only on bitcoin market but the whole crypto as well. It looks like so bloody right now that its hard to think that a few week ago, we are hitting all-time-highs left and right in both markets.

It just show's how volatile and violent the markets are. In a blink of an eye, marketcap is totally wipeout by around $60B. All we can do is hope that everything settles down, at least stop the bloodbath so that we can see some recovery before the end of the year.

Lets all hope in just few hours or days all the alts will recoverd from this tradegy,all hail BTC !

Goldman might have had something to do with today's events....


https://www.bloomberg.com/news/articles/2017-12-21/goldman-is-said-to-be-building-a-cryptocurrency-trading-desk

...and these guys are known to ALWAYS make money....

Altcoins didn't really fall a lot. I was watching market on Bittrex and most of them are recovering. Altcoins are at best accumulation state right now. As now outer investment is not only going in Bitcoin but also is diversifying in altcoins. So, I expect a price surge.

This dumping of price is usually being done by panic sellers. Whales are more interested bin accumulating in each dip.

This news has nothing to do with the recent cryptocurrency dump. Goldman Sach will be starting altcoins trading by next year June. They haven't yet entered the market. This news if would have any impact, it would be positive as such a big player entering the market suggests adoption.

Trading bots and stop loose get activated when we see 10% down. Then we go more down and then people panic.

its really a hard scene now inside exchange as we see a lots of downfall and we can't assess why the value keep being dumped even
btc are so low as of this moment better to stay out for just a while before losing much bigger, wait till the market recovers.

Today, the situation with a pretty strong fall of bitcoins, from almost $ 20,000 to $ 13,000, is regarded as a positive development. It would be much more dangerous for him to quarrel again in price, as this would indicate that the financial bubble is pumped up. Now it has been corrected in price. Many unsustainable investors will get scared and sell bitcoins to themselves at a loss, the demand for it will decrease. This is very positive for bitkoyna, because he refuses to real value and simultaneously reduces the rush demand for him. After some time, taking into account its improvements associated with the implementation of the project "lightning", it will again start to rise in price.

The bloodbath will continue for a week maybe and after that every thing will turn green hopefully.

This is a lesson in "weak hands". The market was being hyped too much. The thing is cryptocurrency is a good long-term bet/investment, but as word spreads and prices start skyrocketing people start looking at it more like a get-rich-quick scheme (because many have in fact gotten rich) so they spend more than they can afford to lose making prices jump higher, feeding the frenzy. Then the market is "overvalued" so when something sparks a sell-off it cascades downwards as people second guess their over-speculative investment and panic sell.

As people already stated, it was obvious that correction would happen eventually. The recent rise of whole crypto market was just insane! IMHO, today's crash was just a domino effect - some whales decided to cash out and the whole market (with focus on newbies) responded with panic selling. What is more I don't think we are totally done with drops yet. Beginning of 2018 will be a bear run.

The reason of prices down is not in the sell off coins. I suppose it is because the previous growth of Bitcoin was to high and too speedy. That’s just mean it was overpumped by the information and many believers.

About what bloodbath are you talking about? There isn't any bloodbath at the moment.

Well, maybe there are enourmous red numbers on the market but it does not mean anything, the price increased a lot during the last few days, aren't you even satisfied with all the increase that most altcoins had during the last few days?

Of course, it will always be temporary, but this bloodbath was I think the biggest one for this last quarter of 2017, especially to Bitcoin, dropping about 20% in the last 24 hours, it is just massive. Well, to think how fast it grows for the last few weeks so no wonder how fast it also goes down right now. This is just a price correction we've been waiting for, so it is now the best time to buy most especially to crypto traders, it is a shopping day.

If there is a whale selling and people sense fear, they will sell too. So my educated guess would say both. The market grew a lot in the past weeks and it was natural for the price to go down a bit, it's healty for the growth of the coins. I'd say this is just a passing phenomen. The coins will continue to grow no matter what the "whales" are doing. This is the future we are talking about guys!

Actually, I hope it drops even further.

The recent price surge was absolutely unsustainable.
I'm hoping that it price corrects even more and then stabalizes before taking off.

With all of this new money coming in to crypto, I am also hoping that these new investors will learn their lessons and make it through the price correction.
In a way, I don't blame their ignorance, it really is a steep learning curve.
If a vast majority just sticks through it through christmas and new years, I think we can see a stable value from which to springboard up again.

The absolute worst case scenario in my mind is if the price correction stops in the next couple days and it shoots up again.
I mean, yay for profits, but in the long term it is very unhealthy for the entire market.
The volatility will burn a lot of people, damage crypto's reputation, and make it even harder for new money to come in.

With that being said, the first btc I bought was last summer when it was around $2500, so I'm not sweatin through any of the price drops now.

There is nothing to worry instead this correction was required for the future growth of Bitcoin. And its a great opportunity for all to buy more BTC.
The best solution for now is to hold back your BTC.

Yes it is just a correction because every peak price of the coin their is always a dump and this is a good time to buy in order to earn more profit. If we buy in the peak just hold it because it will surely up again and maybe achieve a higher price after the dump because it encourage many investors to buy while it's in dump.

Its red market now, everyone is falling down even altcoins and bitcoin are showing some power now, it may start pumping in the next few days. We don’t need to panic because I know this market will lead us to a brighter future buy more.

I Still believe not worth going too big now; we might see another mini crash next week-right before New Year Eve's

Don't worry so much. After this year bitcoin will soar way past $20000. Just let everyone get over christmas and christmas shopping all the FUD and worrying about selling so they don't miss out. People stress and worry so muvch, so many emotions gees just relaxx and collect bitcoin.