Bitcoin Forum

Hi guys!

2018 was scary as hell in the cryptocurrency world, right?

Check out this infographic that explains all the twists and turns affecting the Bitcoin-price in 2018:
https://www.cryptowisser.com/what-happened-to-crypto-2018/

All the best,
Cryptowisser

You forgot two infamous incidents, Bitconnect and Bitgrail exit scams.

You should have posted the following...

https://www.cryptowisser.com/wp-content/uploads/2019/02/What-happened-To-Crypto-2018.png

Thanks SpanishSoldier - you're right! :)

What happened was that Bitcoin had enormous exposure during the end of 2017. Everyone wanted a piece of the cake and started buying, prices skyrocketed and many people bought when Bitcoin was at its ATH. Then when the prices started dropping, more and more people who were looking for a quick get rick system noticed that it didnt work out and started cashing out. Negative press + the fear of losing their investment led us to this era where the price hasn t stabilised yet and will probably drop some more before it does.

Weak hands won't stop them from cashing out their btc to avoid losing money. If they were educated well about bitcoin they wouldn't cash out their btc and the price wouldn't drop as it is right now.

There many events which made the Bitcoin market to dump down.

Most of them are listed in the above infographic posted in the OP. Incidents like this made many people loose hope in crypto and it's safety.

But the positive side is, most of the people who where here for instant profits just wiped up and what remains is a good number of peoples who still have faith not just in Bitcoin but in the crypto concept and Blockcahin technology overall. Once still using and trading in Bitcoin are the people who deserve to be there and they will surely get the return in the future.

I am saying this as we can see only the people who came late in Bitcoin and invested at the time of hype had sufficient losses. But if you check the overall figure, market is still very high for the once who invested earlier in Bitcoin. This logic should also apply to the future economy of Bitcoin in coming years.

Of course, that's the current order in the world... get money, get rich at whatever cost. The only difference is some people are patient whilst others just want to have it overnight.

One of the things that are commonly missed is the influence of MtGox and the trustees selling massive amounts of coins on exchanges. We have recently seen reports and proof that these trustees were lying about selling these coins on auctions and also OTC, so it explains the continued drop in the price, as large amounts of recovered Mt Gox coins are being dumped on exchanges.   >:( >:( >:(

The biggest impact on the price drop was most definitely the ban on Crypto currency advertisement on large social media platforms. The ripple affect of that decision will be felt for years.  >:( >:( 

After the ATH in the final quarter if 2017, there was a lot of optimism for 2018 and a lot of investors who bought at the top waiting to cash out. This is evident in how amount raised by ICOs quickly surpassed that raised in 2017 with just a few months of 2018.
Optimism was soon replaced by fear and uncertainty. ICOs dropped rapidly and found it difficult to raise even a couple thousand dollars.
Some are calling it an accumulation phase after the price correction.

Also the situation in Asia and ban of investments in ICOs by the Chinese and Korean governments. The Asian market was very important because they were trading crypto at higher prices compared to other markets which gave a nice boost to the overall prices.   

Surprised that you didn't mention anything news worthy from India, well its understandable especially if their own government is having a tug-of-war against their central bank, you really don't know who really is in favor or who is not until you see an official law in their country not just a memorandum given by their central bank, all this news coming out from India is much more unclear now compared to the news coming out from China.

When people got scared and the market turned into frozen/ hypernation situation, it is good time to start accumulating more coins.
Great opportunities mostly found in darkest period, whilst risks mainly found in the blossoming period.
The most interesting figure I found from the infographics is that the dramatical drops of search with the keyword 'bitcoin'

We are in 2019 do we need to boarder much about the twist of last year when the current prices are also miserable and scary. It not time to check an infograph that would spore up emotions

You are right regarding India but I believe that Bitcoin and Crypto in general are more popular in Korea and China that invested a great deal in it. Also, the purchasing power in India is not a high as compared to Korean and Chinese investments.