Bitcoin Forum

In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.

There has never been a drop like this in such short time in the full history of Bitcoin.

Ever.

"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.

a few _days_ ago it gre by 1000$ in some 2 minutes. 120 seconds. Is it _really_ unseen territory?

Also, I recall a 50-some% drop smetime in 2011... guess most people don't go that far back?


Oh, not to mention the collapse in 2013?

Never seen before? you clearly do not understand how the market works.
It went from 20k to less than 11k, and yes, it happened, but why are you so depressed about it? I would bet all my funds that you did not even bought at 20k, so you are not in a loss of 45%.

Bitcoin barely existed a single decade, so we have very little data to compare this correction to. This drop just once again showed how volatile crypto is, like you said. It just simply dropped faster compared to past corrections as we went up more than 2x in a single month. Probably just a healthy correction in my opinion due to all the hype bitcoin has been getting over the news and social media.

Nope. 1000$ drop a few days was not that much in % because the price was high.

Previous crashes had the effects of Mt.Gox being the largest impact. Price dropped 36% over 2 months, and then for a total of 80% over some 6-8 months. But note the timescale here - months. Never this sharp a drop this fast.

Are you drunk? It is simple mathematics. 19700 to 10890 comes to 45%. What part of that is it that you do not understand?

It is the good chance to get in Bitcoin whoever felt missed the bitcoin train. Still so much we can make much greater Bitcoin in 2018

Its crypto, anything can happend in matter of second. i found it very interesting cause when the price drop people start panicking and sell whatever coin they hold and the price will keep drop, all crypto have no value its all just bassed on demand. Try to buy it again the price will up again xD (with large scale ofc)

No, this is plain wrong. That is why mathematics is your friend. You can calculate what is normal. You can calculate what has happened before.

What we have seen in the past 100 hours is something we have never seen before. That is fact.

It's important to keep in my how long it was at 20k. If it had been holding steady at that price for a month or so (with lots of people buying at that price) and then dropped to 11k that would be a lot more alarming than what happened, which is that it only hit 20k for a brief moment without much volume before going back down.

Erm, yes there has, we saw it earlier this year at least once already or are you that short minded or too lazy to look in to the past? The same thing happened when China shut down exchanges and blocked ICOs.

The drop wasn't as sharp back in 2013 when Mt. Gox went down, but you should also keep in mind that the price wasn't rising as much and for as long as now.
This correction was bound to happen, no way that this kind of growth was sustainable in the long run.

Add some bad news to the equation and it all seems much more understandable.

I wouldn't be surprised to see it go back to $5000 before it accelerates to new heights again. No need to be worried. I've seen worse things happening on the stock exchanges in the past 10 years.

It as recovered what it lost in the last 5 hours.
It is back to $13,320 now and bouncing to what it was yesterday.

I was referring to a 1000$ rise not drop. Growth was faster than it's been before, that's what I was pointing to.

Also, if you really are fixated with history and mathematics, use historical data https://www.buybitcoinworldwide.com/price/

April 9 2013 to April 11 2013, then April 13 and 16.

agree! don't get panic! "hodl" your coins and relax, 2018 gonna be huge!

Where other people panic, I get exited. Nothing really big happened to explain this, other than CoinBase starting to enable BCash

on the exchange and people going into panic mode, when the price dropped a little. The trigger affect was more people dumping

and speculators extracting their coins to protect their profits. We knew a correction was due.. and we prepared for that. The

thing that makes me excited is the new opportunity to buy bitcoins at a more realistic price. {cheaper price} If this bounce back

to $18 000 or even $20 000, then we will make much bigger profits.  ;D

if we buy at the price of $ 17-19k we are very distressed if the price drops with this much value, but not until you sell it at a cheap price because it is very detrimental to you, hold your bitcoin until the price back up. or you can play altcoin that can use bitcoin to multiply your bitcoin.

No it hasn't - you are simply factually wrong.

The largest drops we have seen this year are:

In September from 4950 down to 3226. This is "only" a 35% drop. And that drop took 13 days.
In June from 3018 down to 1938. This is "only" a 36% drop. And that drop took 35 days.

The drop right now is 45% in less than 4 days.

It is amazing to see the so-called "investors" in here only react on emotion and anecdotes, but not be able to do simple mathematics

https://i.imgur.com/0ncvJZv.jpg

I don't really agree to your assumption that bitcoin never went such a dump in short time. According to this chart, there was a massive dump of 72% in 2010 and the last dump in November was also 30% in 4 days. There is nothing new in this dump. Yeah, the fall in USD must be quite high, but percentage wise it is just another dump.

I agree with that - but it does not change the simple fact that what we have seen in the last 4 does is not normal. We have never seen anything like that in Bitcoin before. That is just pure mathematics.

2013-12-02 btc dropped 53% ..
https://static01.nyt.com/images/2016/08/05/us/05onfire1_xp/05onfire1_xp-facebookJumbo.jpg

Some people were saying futures markets would "legitimize" bitcoin.

Thats your "legitimizing" right there. They want it to be like gold and silver, completely useless.

Also, creating artificial "bubbles" through pumping from funds is a quick way to implement "regulations" (read censorship) in crypto-currencies.

All the large dumps you show took place over much longer timescales. Price now dropped to below 11000 this time, so your calculation for the current drop is fake news - you have manipulated it

It looks dramatic, but $1150 down to $570 was a 50% drop which only took 336 hours.  This wasn't that much faster, but still, it is a new record.  And at one point, Bitcoin had lost a whopping 85% of it's value after that brief previous all-time-high in 2013.  It's only a major concern to those who are currently down on their original investment.  The rest of us are accustomed to this kind of volatility.  We're always breaking new records, this latest one just might be less popular than others.

       We are looking at the great correction happening today guys. Great corrections has already happened a lot in the past. It's just that it isn't as big and as fast as the current great correction. But if you think about it, this correction is just right and oretty logical since the price rise in bitcoin for the oast few weeks were really fast and high. I think this is rather a good thing and quite healthy for bitcoin to he honest. Plus it gets rid of those greedy bastards only investing in bitcoin because of profitability wothout evem understanding how it works and what problems it solves.

OP must be new here, the little cutie. Congrats on your patience waiting for a drop. I see it's been fudding diligently for months with stunning unsubtlety. Enjoy your opportunity and I hope you make the most of it.

Anything below 50% is normal in my honest opinion and nothing to worry at this stage. However, I do believe that the correction will help Bitcoin to stabilize itself and grow in the long run at a sustainable rate. We have seen almost 1,000% growth in last 6 months and why we are worrying about 45% drop? Things are moving in right direction and correction was essential at this stage so enjoy the situation.

It's amazing how some people can selectively ignore whole posts that don't fit their narrative...

45% is nothing new in bitcoinland. Try 90% loss, and yet again it's nothing new, although I don't think it will go as low as 90% loss this time. Probably around 80% loss is my best guess. The real question is how long  will it take and when does it start to recover.

+1

I believe it went from $100 to $2 once ... that would be a 5000% drop

no offence but... you can't actually drop more than 100% in a 0-minimum system

A 100% drop means you go to zero. Clearly you have no idea of mathematics. But seems pretty symptomatic of the level of understanding many so-called Bitoin "investors" in here have.....

$32 to $2. And it took about 18 months to go back over that too. We might be in for a wait until 2020 until there's a proper bull run again but there might be flashes of it in the meantime. There could be several near flippenings too as alts go off and do their own thing. I hope people finally figure out that they don't have the same aims.

I think it's better that the spotlight turns off and some actual upgrades happen between now and then.

Good one ... You got me on the math there. Not used to calculating decrease in percentage :P

98% decrease :)

I'd say it's more than reasonable to expect that an unprecedented rate of growth would be followed by an unprecedented correction. You're forgetting that some of the growth we've seen in the past month was also "never seen before". Wish I could have called the top better but I bought back at 11k. The fundamentals are trash right now with the fees and slow speed I'll admit but I think it's easy to underestimate just how retarded a person can be.

Well it's at £10,007 so I think a digit is about to drop of the end in terms of GBP and yes I know we are talking Tulips here
even if many of you don't want to hear it but even they had up and down weeks in 1625-35 before it well and truly went bang and
just to settle your nerves I think we are from this being the big one.

Do not feed the miners or Coinbase, stand your ground and only top up if you can afford to gamble and remember

When the fun stops, Stop   ;D

Actually it is not reasonable at all.

In a market with investors who know that they are doing, it is very unusual for the price to overshoot this much and then see such a massive correction. The logical conclusion is that a large number of Bitcoin "investors" have absolutely no clue what they are doing.

It is the good old rule that when your local taxi driver starts to give you investment advice it is time to pull out, as the market price is now controlled purely by dumb money

No things are not moving in the right direction as you put it and transactions fees are just crazy, Coinbase poor exchange rates ignored whilst price was going up
and the network is far too slow plus some are saying that the Lightning Network sticking plaster won't hold and is too little and too late anyway.

See the history of IBM and computers because BTC is about the same so yes it might be around for a long time, profit will be made
but it's no Intel, Microsoft or Google and tell me who is investigating the price rise in fees or is that not possible in a decentralized system

We are being ripped off and BTC is not moving in the direction that it was designed to move.

Nothing new in the bitcoin price chart we have seen this couple of times before, if you enjoyed a 2000% increase in a single year then why complaining for this dip which is just temporary. Don't panic like beginners, wait for the upcoming fork and get ready for another ATH soon. Mark my words.

Sit back and enjoy the ride ....

http://www.brainlesstales.com/images/misc/bitcoin-roller-coaster.gif

Yeah, Bitcoin is entering a long long bear market again. The patterns are all there.

Remember leading up to the previous bubble that lead btc from $100 to $1200? It was all predicated on good news such as BTC mutual funds, Winklevoss Exchanges, etc.

When the good news actually came to fruition, the price just started crashing and BTC entered a long long bear market.

The exact same pattern is happening right now in every way. The Japanese exchanges are like the new Chinese exchanges, which reached a ATH before other exchanges, a nonchalant bad news was just the tipping point, etc.

Carbon copy of the last crash....

2013 - 1200USD, there hasn't been a rise like this, ever!
2014 - Gox dead, there hasn't been a scam like this, ever!
2014 - we're at 100 USD there hasn't been a drop like this, ever!
2017 - June $3000, there's never been a rise like this, ever, it's a bubble!
2017 - September $5000 it's a bubble, it's going to correct!
2017 - November $7000 all newbies start to go in. Money money! We'll be millionaires! $_$
2017 - December $13000 "my friend bought w weeks ago and now he's $6000 richer, quick woman, pack your shit we're selling the house!"

I will never put my money in bitcoin, EVER. Bitcoin stinks!  ;)

i think it will recover after crishmash. So don't worry.

OP posts the same on multiple boards.

A Simple retort:

https://www.investing.com/currencies/btc-usd-historical-data

Example: $230 to $93 between April 9 and April 13, 2013. Less than 100hr, about 60% decline.

Case closed.
To OP: You need to stop spouting this as other people already pointed you in the right direction.
If you continue, than malicious agenda is a likely explanation.

Such a big drop in the price of bitcoin as this is something scary, imagine the people who are entering the world of bitcoin early, those people with the highest expectations buy bitcoin at a price of $17000 and in less than a week the price drops for $12000, how should these people be feeling? disappointed, I expect the price to recover in the coming months.


Who is stealing us and what direction should Bitcoin take?

Only newbies with no bitcoin history will be shouting about the "Christmas Crash" - What is happening right now is as a result of what is called the market correction, and very soon the bitcoin will recover. therefore, i see no reason for shouting about anything.

Don't you know? Them! Those people who control the price. They made us buy, hyped it all, pumped the price with their billions and now took it all out!
They have manipulated us and are now rich and we are poor!

http://www.spirit-of-prophecy-1844.com/resources/RICH%20MAN%20AT%20COMPUTER%2010080.JPG

I really wonder. I guess he is new and I am sure he did not really do much research. This is normal, it was expected and we have seen it before after a high level of insanity by the bulls. There is always a time for everything and for everyone. A time for the bulls and a time for the bears, a time for ATHs and a time for dip. It is all the way the market is fashioned and it is good we are having this now as we really need some huge level of sanity.

BTC is having insane increase within minutes and everyone was happy busy seeing huge profits and no one bothered to talk about that insane increase and why it is not cool but now we have some few drops in percentage and we are seeing new territory ? lol. You have not really seen anything bro, welcome to the world of new territories if that is what you want to call it.

In 2014 it flashcrashed from $600 to $100 in minutes

I think OP is joking though

but we have seen the price increases higher too and the highest price is $19,700. if you say that the price has never been a drop like this, then we never see the price increase too high like a few weeks ago. but I still sure that the price will be back again and will reach another higher price.

And now we've rebounded back up to $14500 so what's your point?

Volatility is normal in crypto and every single person who trades crypto knows that risk. There is always a risk that your position will get liquidated or whatever the next day because of a flash crash, but right now we're looking to recover from this flash crash.

It's definitely not the first time we've seen it. There are at least 2 instances this year, where the same thing happened. First you've got the time when price was nearly $5k, back to $3.2k within a day or two. That's 40% or so. Then, price rose to 7.4k and back down to 5.7k. So you saying that it's the first time we've seen this, is simply false.

This is what I've been telling literally for years now

But people are stubborn in their pipe dreams, wishful thinking, and obsessive imagination. You could read it here and there now and then that with Bitcoin prices rising volatility should eventually decrease. Nothing is farther from truth than that. With higher prices we are set to see even higher, runaway volatility. This is sort of a given given the limited monetary and market supply of bitcoins. There is no escape from that. Well, at least not until over 90% of coins are used for real commerce, not for rampant speculation as the thing is. But this is even farther from reality than Bitcoin volatility going away

thanks for this chart iram1011, it's always good to put in perspective. Regard to it this 45% is nothing. And it's already on the way to recover.

Do you have the same one with pump ?

Actually I am glad this happened. They was a much needed drop. People who invested earlier has now cashed out their profits. Now others are getting their chances and we might be able to reach a new all time high with more stability. And don't forget, we have also seen a 40% crash on September but the price did recover soon.

Indeed, you just have to go digging into the old threads and even old media reports (I say old but they're really just less than five years ago!) to see all the same emotions played out over the years. From disbelief and unbridled joy when Bitcoin went from $5 to $50 (I think that was the first mention of a bubble) crushed spirits when almost overnight China real news brought Bitcoin from a mighty high of past $1200 to humbling hundreds.

When I properly entered last year, people were generally upbeat about Bitcoin, just patiently waiting for it to build back up to $1k again. Of course, Ethereum and other alts were the ones making news, with DAO and Monero/dark market chatter dominating. Not a single person I'd met believed a recovery was ever on the cards so soon.

Recovery? Crash? It's a rollercoaster, it'll always be one. Let's try and remember to enjoy the ride.

I think there is bigger drop than this before, I dont know when but I am pretty sure there is. Also I view this dip as a healthy correction, a lot of people want to buy at around 10 000$ but the price went up too high too fast. Now they have a chance to buy bitcoin at a cheaper price than 3 days ago. Also bitcoin is all the way up again with all the altcoins, this is going to a fun ride

There have been far worse cases back in 2011, 2012 and 2013 that you and OP are missing. 60% declines are normal back then and the people aren't even panicking. It's not a problem, and there are penny stocks that experiences the same damn thing every day but no one bats an eye on them. Those people panicking are either newbies or weak-handed. We've experienced far more crazy droughts and downtrends than most new members in here. We're not even panicking, in fact, we're just holding and buying more.  ;)

May I please call bullshit on this entire thread?

This dip is not the biggest nor steepest dip in Bitcoin's short history.

Many long-term holders will remember the afternoon (UTC) of April 10, 2013 when the price fell by over 60% in less than 7 hours.

That dip from $266 to $105 was just the start of a 2 day drop all the way to $54.24, a drop of almost 80%.

It was a gut-wrenching experience for many, but some of us gained solace from remembering the crash from the Great Bitcoin Bubble of 2011 and how we eventually surged on to newer highs, and steadfastly held on to our coins.

This was long before the word "hodl" had been drunkenly coined after the second 2013 bubble. Anyone who hadn't learned to hold by then is a fool.

OP, get your facts straight before spewing nonsense.

Given the OP's post history, I'm starting to get the impression it might be deliberate.  At the very least, there's a distinct trend of threads that could potentially be construed as FUD.  Still, Bitcoin is more than a little resilient to being undermined by the efforts of its detractors, so it doesn't really matter either way.  FUDers gonna FUD and the 'ignore' button is there if you need it.

I try to avoid using the "ignore" button as many trolls and much FUD can be amusing.

I've only used it for really obnoxious, insulting trolls like Notlambchop and Matthecat.

I've come close with r0ach but he's such a laughable buffoon I've let him go despite his bigotry and the sheer number of his posts.  :D

I never use it.

I like to read r0ach and kwukduck posts. They are very amusing.

after USA market open and coinbase start at 14,000$ bitcoin stabilize more than before.

bitcoin now trading more than 15,000$

I would say I agree with you, I think this is one of the most worst crash I've seen in bitcoin market, well except for the 2013 crash. During the height of the China crisis, I only see like 30% dip if I'm not mistaken. But this last 3 days was totally out of this world. And look at how many thread started saying that bitcoin is died. LOL. That makes my day. However, its over now, you can go out of your home now, bitcoin has recovered all other alts as well. However, if the purpose of this thread is to scare newbies in selling their bitcoins, I hope you they didn't listen with your schills. Its really annoying sometimes that just like I said, I just laugh at it. But at least bitcoin is already on its road to $20,000 once more and thread like this should not be thrashed so that we can go back and see how OP's reaction when he sees that bitcoin is going up once more.  ;D ;D ;D

It's not normal, that is something most people here can agree on. However, some people are here long enough to not see it as something interesting other than it being a nice investment opportunity. I too have experienced these levels of drops, both with Bitcoin and altcoins at the time SilkRoad was shut down by the FBI, and trust me, the current drop is a joke compared to that drop. Not in terms of how much it has gone down percentage wise, but more the time frame. It was a matter of minutes the crypto market tanked with like 50% in 2013. I highly enjoyed the bottom yesterday. I managed to buy some coins well under the $12,000 level which I wasn't expecting to buy at this year at all. ;D

And the drop was extremely short lived. We have crossed $15k now. The volatility is high, but you should remember that we started December 2017 at around $10k, we are still up 50% during the month. And that is in spite of people talking about the drop is if it were doomsday.
People tend to have short memories. I hope they keep this drop in mind when Bitcoin crosses $20k again as well.

** remembers $17.x drop to $0.0000001 on Gox **

Someone else do the calculation  ;D

Bitcoin was basically a non-event back then

In other words, we can't really compare what was in 2013 (or earlier, for that matter) to what we see and experience right now. For example, back in 2013 there were no altcoins sticking around, I mean as powerful as they are today. Bitcoin was an undisputed champion in those good old days, one and only. This is no longer the case, obviously. And while we are at it, Litecoin has recently risen well above 100 dollars (actually, it went over 300 dollars). Do you remember that I promised you not to forget about that? Are you still disinterested in this coin as you were a few months ago?

I’m glad to see this was an unseen event in bitcoin’s price history, as I found it quite normal. That means I am prepared for anything it may come. No matter if there have been similar drops in the past, as it seems, what I was thinking when it was rising so fast is that at some point we would have a strong correction. I am mentally prepared for a new ath now.

45% drop is just normal day in crypto :D

But then what did you expected? The price of bitcoin rose incredible high in a matter of days and sometimes in hours it is obvious that a correction of this size was needed, the movements are too abrupt but nothing that is out of the real of possibility taking into account bitcoin volatility.

dude just relax, it's understandable if you consider how popular bitcoin has become. crazy stupid money has been flowing in BTC and the new investors panicked and sold. everything is just fine :D

We needed weak hands and blind money to join the market.
That is literally the only way to make money on Bitcoin now, with the widespread adoption.

Then, due to Christmas withdrawals, people maybe panicked and sold everything. It was bound to happen sooner or later.

I can't believe some people would actually sell at a loss with zero really bad news, and just because the price started dipping. But that's probably what happened.

Sometimes I think "this is the end" for Bitcoin. But then I remember that "HODL" is meant to be taken seriously, and that the digital currencies market cap is only 0.5 Trillion (AKA a tiny drop of water in a pond).

Sometimes I'm amazed by the ignorance of some people on these boards. I'm a hodler myself and remain bullish, I always expect people over here to be at least as informed as I am, but get disappointed every time.

Zero bad news you say?

How about the mass media reporting that one of the creators of bitcoin.com no longer believes in BTC and is selling it all (which is causing FUD, even grandparents talk about it)?
How about the hundreds of thousands of unconfirmed transactions (causing FUD)?
How about the clogged network and the attack on the network (multiple accounts spamming transactions every few seconds for no reason, losing money in the process), causing FUD?
How about coinbase being accused of insider trading, causing FUD?
How about Roger Ver pushing BCH, causing people to doubt the effectiveness of BTC (causing FUD)?
How about the price slowly dropping for multiple days now, causing FUD?
How about the Belgian media reporting the Belgian government wants to tax BTC profit with 30%, causing FUD?
How about the mass media in the U.S.A. reminding people of their tax obligations, which many people don't understand, causing FUD?
How about the Dutch mass media article about the BTC bubble, recommending everyone to get out as soon as possible (causing FUD)?

Man I could make the list much longer than this, but I believe my point came across. Zero bad news, really?

Don't get me wrong, again, I'm still bullish, but please keep your eyes open and try to understand what's happening and what's contributing to the FUD.

I said no **really** bad news (for example, SEC declares Bitcoin ban) I am aware of most of what you just said.

In literally every single moment of Bitcoin, there are FUD factors constantly. People don't see them when the price is rising because of the mania. It is only when the price is dropping that we begin to see all this stuff in the background.

*The mass media has always spread FUD, 24/7. It always tells people "the next crash is coming". By that logic the market would have never gotten past 3k.

*Tax obligations have been around in the US since like 2015. Reminders are always there. Similarly I'm sure with other countries. The Belgian tax on profits will cause people to sell for losses? I doubt it.

*Small factors like insider trading by a few individuals --accusations-- are thing I really can't take seriously. We literally have CME futures, where billionaires can short and manipulate the market if they wanted to. No one seemed to care then, so I wouldn't think it would matter now.

*Some of the stuff I didn't know (like Belgian taxes, and I don't care what Roger Ver is up to), but most of the stuff you are saying is nothing new or special - transaction problems, mass media, taxes.

Maybe I am just overestimating the conviction of some traders, but honestly anyone who has been in the market for more than a few months should *probably* not be afraid of this, unless they were one of the weak hands to begin with.

BTW, there are other factors you haven't even mentioned, like the unstable Asian market, the fact that Bitcoin is untenable as payment (so must be a store of value) as of now, and CME market manipulation.

Bottom line, there's a lot of bad news all the time. People make up fake news (Mike Novogratz claims BTC will drop to 8k, when in reality he just said that would be an "extreme", but news networks are acting like it's his main prediction, which is fake news).

There is so much FUD in this whole market, yet the price has continually gone up.

There has to be something really bad, news-wise, for people to abandon the market based on that. Otherwise, it is just panic-selling, which I definitely believe the last few days were.
AKA it was not justified, but an inevitable correction by weak hands.

Well, in that case I guess we are both a bit more nuanced than we sound.

Yeah, FUD is everywhere, all the time, that's nothing new. With the masses pouring in, I'm afraid they are more sensitive to the news and will scare more easily, so that's where the panic selling comes from. We actually agree, I just got the impression you were ignoring the many elements that could be contributing to the selling (the bad news). Which you aren't.

As always, let's just hope for the best!

Well this is already a normal situation, after overcoming the bar in 20k, the recession began, of course not 10k but 14k, but I think this is not the price that those who came to bitcoin were waiting for. It was obvious that bitcoin had already outlived itself.

To everyone watching the HUGE Display of Greed:
The biggest insanity "bubble" in history deserves an exciting response when the fun finally ends.
The people who were here before I came used to care about more than just greed and a fast profit. 

Lol. No need to bet as I am sure he is worried about the ones he has earned so far.
I wonder how people expect that bitcoin will just keep acting up insanely and raising up just like that without seeing a moment that would bring it down to the level where the main sanity stopped and then sanely start from there.

It has been a terribly huge increase in this year and this is not something that has not happened before and OP needs to go to Google school to do some research.

Bitcoin is highly volatile and that simply shows why should stop acting FOMO-ish, thinking they have hit a jackpot with bitcoin.

Bitcoin was never meant to be a get rich quick scheme and sure, with a good demand for bitcoin, it can attain a huge height, but right now, there is not even enough reason for bitcoin to keep increasing in that manner except for the fact that every newbie just wanted to get rich overnight which is not done anywhere.

it is up 2% and rise about 14,000$ now price is stable less than 15,000$ it is good price.

bitcoin was less than 12,000$ in 2017/Nov

Yeah, hopefully this slump will go away soon.

I would even prefer to believe that it was just temporary bad news (the factors you mentioned and others) that caused the price to drop, but as I was cautious about CME futures and the new incentive for market manipulation, others plowed ahead and skyrocketed the price.

Then, the price kept going up even as it was parabolic, which should have scared most reasonable people, IMO.

Anyways, hopefully people will scoop up what the panickers left behind.

Many people don’t mind if price of bitcoin will stay at this point or even lower till the beginning of 2018. Here in the Netherlands and EU we should declare all our BTC and pay tax like any other savings. 31.12 is the usual date they take BTC price to calculate how much holders should pay.

That's true, but bitcoin price rise after the dips of up to 45%, I am sure it will still increase more just like the price of all time high just be patient and wait until next year, for sure it will increase.

Actually it is very normal for this to happen in crypto-currencies trading, I guess the OP might be quite new to the crypto-currencies trading scene, and that is why he felt shocked to see this tremendous price dip in bitcoin, that is one of the reason why bankers and analyst warn a lot of investors to take extreme caution when trading in crypto-currencies due to the huge volatility.

This action now is in line with previous trend going back to the Spring.    The April May June trend which was broken end of June extrapolated for the current prices matches action now.   It is still in line with that, on July 20th the trend marked a short term top before being exceeded on 5th August so its not all gloom and we are in line.

A price that always rises is pretty much a negative, it shows volatility.   A pullback that confirms previous pricing helps increase volume at various prices and evens out gains, this is better in the long term for most.   Ultimately markets serve a majority and some may see lower price now as a negative but its still a minority I hope.

This chart is amazing. Dump is the best thing that could happen to Bitcoin. We need that. We need separate the believers in a new world from those that only want another Ponzi scheme. We need that the dump closes some new coins and stupid projects. We need this blood and Red on the charts.

Great chart otkeep track of the relevant Bitcoin corrections and to keep the FUDsters away from making you panic sell, whe all we've seen is just a very healthy correction of %30, which is clockwork compared to past corrections. We are still on a very uptrend, this correction as I said, pretty much the same as the ones we've seen this year.

If you are worried about the current events, you are NEW. Everyone with a clue is buying this dip, even if it goes a bit lower, smart money is buying while you are crying, this is how it works.

Yes, its a great chart and thanks for the sure. Dump's usually shakes the market, specially the weak hands, They are totally eliminated once dumping started, LOL, they didn't even know what to do except to push the sell buttons. Couple of FUD's and paid schills who created panic and lots of fears on those newbies.

Those who are really shaken are newcomers, they enter the market thinking, wow I can make a lot of money if the price continue to go up as expected, however, when the dump comes, they be like, fuck it, I'm out, selling my bitcoin now. LOL. If they just have the audacity to just really hold and wait till everything settles down, they should have seen profits.

It's fine.

The new investors are always the ones who get hit the hardest. They are the ones who make the price of the coins go up in the first place.

But yeah, if they did research, they would see that panic-selling in the past has always been a really horrible strategy.

On the other hand, if they did research, they would not have bought at 19k in the first place (crazy).

Maybe the price will go down and even lower. For Bitcoin it will be very bad if the price goes below $ 10,000. Many investors will lose money.

If this is the way all the new people in the space think then you guys will have a hell of a time the next couple of months. If you didn't anticipate this steep price drop, not even in the slightest manner, I find it really questionable that you're here in the first place. 45% drop in 100 hours huh? How about the 1,300% gain of bitcoin this year alone?

Some investors have to lose money. Those who rushed in when Bitcoin was closing in on $20k must have lost money. Greed for quick multiplication of money has its downfalls. We need investors who believe in long-term potential of Bitcoin and won't rush out during times like this.

This move is a necessary correction than a dump. Because Bitcoin price raised so quickly to 19000 usd from 12000 usd (correct me if I'm mistaken) so this move is healthy, in addition to that some people may want to take over their profits before holiday season or end of the year. So keep HODLing and invest in bitcoin.

I don't know what exchange it is based on - but on MtGox (which was then the biggest exchange by a wide margin) the correction in April 2013 made the bottom in about 7 days (and was very close to the bottom in less than 3) instead of the stated 88 days. Also the minimum was about $50 instead of $63:
https://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=&i=Daily&c=1&s=2013-03-21&e=2013-07-20&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=1&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

 https://bitcoincharts.com/charts/mtgoxUSD#igDailyzczsg2013-03-21zeg2013-07-20ztgSzm1g10zm2g25zxzi1gMACDzi2gRSIzv

Apparently, they are the ones. It is good to have that experience anyway, for someone who really saw bitcoin as a get-rich-quick-scheme. Probably this time around, they will get to learn to understand what they are really into, while the ones who are not ready to learn and understand will definitely get scared away, only to come back later on in the future to see what they have really missed. Knowledge is needed in this world and it was just unfortunate the greed took over some people which was normal anyway and good we ended up having this correction.

Absolutely normal. That even showed the extent at which so many of these newbies were just busy buying for the wrong reasons and why so many of them allowed whales to get the best of them while they were busy losing and donating the little they have to them.

Lots of times, we have said it already that a lot of people do not even have an idea of the reason they are investing except for the fact that they wanted to just get rich quickly and though bitcoin would be the saving grace and not knowing it takes, knowledge, patience and understanding to get the best of bitcoin.

The thing is that there would always be those who would panic and there is no way we can separate them from the market, but the thing is that they usually learn their lessons after the first incidence and that is what makes it even better.

Like you said, it was a scary bullish move within a short period of time but it was so much expected that this would happen. It is good it did and this gives room for the real believers to buy back more into bitcoin for the long ride and this is also not the first time this would happen.

Prices come down and then again go up there is no risk in it those who are smart can make profit from both types of time and don’t listen to the bankers they are jealous from the progress of bitcoin and only thing they want to do s to stop bitcoin because bitcoin is real threat to the existence of banks and yeah that’s true bitcoin is volatile but when profit of millions comes that is also because of volatility buddies,

It might look like so, but the thing is that there are so many of these people, that those who end up learning from their mistakes, are still no match in number for those who keep making the same mistake. Great thing however is that the market has been going up continuously regardless of all this incompetence. Each time the price is going down, people act like it's something ground breaking, while if you look back, it all fits in how this market operates. People should understand that this isn't the stock or Gold market. In no shape or form does this market acts similar to how the aforementioned markets act, and that should be clear by now. It's like people don't think Bitcoin deserves to have this value, or even doesn't serve a purpose.

Actually, this fall in price is very frustrating and the decline was over of 16% in last 7 days. Furthermore, maybe the biggest reason is that there are many people selling great value of their budget of bitcoin. But surely that after this drop of the price there will be a huge growth in a short period of time. In otherwise, this may be achieved early next year.
Moreover, this volatility of the value is  expected and normal for all Cryptocurrencies.

yes thats true and this situation is very frightening and it can made a panic selling and maybe that's the reason why bitcoin keep crashing nowadays, and this issue is not normal cause it will be a concern because it can reduce our profits much if the price will continue to collapse. Maybe this is the end of bitcoin journey for this year. Perhaps the price will recover in first week of 2018.

One day, back in 2011, I went to sleep with it around 30 USD, woke up the next morning with it at around 3 USD. A 90% drop over night.

Hahahahahaha what the fuck? Zoom out that chart champ. Take a look from 2013-2014. Do you see that? That's a 90% dip. Now that's a kick in the pants. 45% from the ATH is normal fluctuation. If you can't handle the 45% dips you don't deserve the 1000% gains lol.

Welcome to the wonderful world of cryptocurrency. Every bank wants it gone so they can continue to generate money out of nothing. Now they have to work for it, and soon they'll just be so screwed that they pressure governments to ban it, which is about as useful as banning an email client or the internet hahah.. Just HODL. Best advice I ever got as a newbie.

The price at 19000 was clearly overstated, so the decline was inevitable. Then bitcoin went up to 13-15 thousand and is still in this range. Such a price for today is justified. I hope that after the New Year the cost of bitcoin will start to rise.

It might be a new territory for you but people have seen many crashes in the past,the one i remember is the big crash in 2013 when the price suddenly had a peak above thousand dollars for the first time and then went down drastically,i am not sure within how many minutes that crash occurred but that was a pretty heavy crash in terms of percentage.

People have seem similar price crashes, but none could have expected such a massive price fall in a much shorter time period. In particular the price price increase happens without any initiation during the year end and continue to the start month of the falling year. This time nothing has happened, other than panic among the users.

This is only a price fluctuation. The similar ones happened this year too, nothing to get surprised I think. We need to act carefully and watcht the market price. I hope it will recover soon after the altcoin bull market ends.