For as long as Bitcoin has a price then it's okay, and it's not dead. A thing that goes up drastically will go down drastically and that was normal since then so let's just relax to this kind of matters with Bitcoin.
No - you are simply wrong. Bitcoin has never dropped 45% in less than 100 hours. Never. And that is a simple fact. |
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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.
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Hi There,
i've been really busy the previous days and didn't read a lot about btc, altcoins and current markets, but i've seen the big increase in the past as well as the significant dropdown of the markets in the last 24h.
what are the reasons for that market behavior, especially what caused the recent drop?
thanks in advance
More and more people are now realizing that the problems (huge fees and long confirmation times) will not go away - and hence the whole idea is gone. |
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Boo boo hoo BTC is crashing and I can’t take so I’m selling boohoo hoooo!!!! Whaaaaa BTC is dead whaaaaaa!!!!
Stfu!!!!
You’ve been given a massive Christmas Gift..... a chance to buy super cheap crypto!!! Stop crying and take advantage of it!!!!!
Wow - I am constantly amazed at the intelligence and analytical quality displayed by some bitcoin fans in here......not. |
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Bitcoin is a currency Yes ( you can use bitcoin to buy and sell smth, it is usual now
No it most certainly is not. That you can find a few small places that will accept BTC as payment does not make it a currency. I can also find a beach bar which accepts payment in nice seashells, but that does not prove that seashells is a currency. Without large-scale universal acceptance and adoption it is not a currency.
Bitcoin is an investment asset yes, why not, I invested in may and now my profit x8
Again wrong. Buying something and simply holding onto it seeing its paper-value increase is not an investment object. You need the ability to effectively buy and sell - and as we have seen in recent days that is now extremely difficult due to the long confirmation times.
Bitcoin is community driven - yes, just check how many members only on this forum
Don't make me laugh. The members on this forum has been shouting for something to be done to fix the problem with transaction times and high fees, but nothing is being done. The community is not being involved.
Bitcoin is for the poor -bitcoin for all
Again, just look in this forum. People with small amounts of money and investments are now facing 60-80$ fees to get their 100$ "investment" out. Only the rich benefits in this system. |
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Bitcoin clearly is not a medium for storing wealth.
When you store something, the intention is that it will keep its value. You store grain in a silo in order to retrieve it later. You store oil in a tank in order to retrieve it later. You can store money in many different ways, but the intention is to be able to retrieve it later.
In all cases, the most important part of "storing" is that the value/quantity you store is approximately the same as when you put it in. With money you may be lucky it is somewhat up - but that is not important. "Storing" means it is important that you can get almost the same value back if you need it.
Look at BTC just in the past few days. Anyone "storing" value in BTC 4 days agot have lost 35%. That is not "storing"
BTC is speculation alright.
BTC can not by any reasonable definition be called a medium for storing wealth, that is simply absurd and wrong to say
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The downturn is now driven by more and more people realizing that Bitcoin has failed as a currency, as a store of value, as a community project and all other parameters. It is described on the forum here: https://bitcointalk.org/index.php?topic=2630742.0 |
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Depending on perspective - and people in here clearly have many different perspectives - the purpose or value of Bitcoin can be different. But an objective view on that shows Bitcoin is failing on all the different purposes:
Bitcoin is a currency - no
It is failing as a currency, because a currency that dips up to Christmas when you actually want to spend some money is useless.
Bitcoin is a store of value - no
It is failing as a store of value as the extreme volatility makes it like storing water in a bucket with holes in the side
Bitcoin is a better payment tool - no
It is failing as a practical means of payment due to the extremely high transaction costs
Bitcoin is an investment asset - no
The extreme transaction times prevents any normal type of trading of an investment asset, drastically reducing market liquidity - meaning it has failed as an investment asset
Bitcoin is community driven - no
The community has clearly been shouting for something to be done in terms of the transaction costs and transaction times, but devs don't care
Bitcoin is for the poor - no
Only the rich are benefitting, with the poor now seeing their money being trapped behind a "wall" of transactions fees in excess of 100$
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From almost 20000 USD Dollar to 13835 US Dollar. Does the bubble already burst?
Not yet - this is only the beginning of the drop |
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Here people are saying its bursting of the bubble! but it's not!
This is Christmas week and people are withdrawing money, that could be the reason for a drop in price. I'm sure it will rise gradually in January.
Again showing the complete failing of Bitcoin. It is failing as a currency, because a currency that dips up to Christmas when you actually want to spend some money is useless. It is failing as a store of value as the extreme volatility makes it like storing water in a bucket with holes in the side It is failing as a practical means of payment due to the extremely high transaction costs |
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This could very well be the bursting of the bubble - especially with a lot of stories coming from strong bitcoin fans in here that they have also now sold out
Nah, joe! If you seriously believe this then I believe you are one of those who have weak hands. You might be one of those people who are easily caught full of emotions by sudden movements in prices. I think your kind is not so special in the world of cryptocurrencies. There are so many people here who are exactly like you. The same people end up turning the principle upside down, ending up buying high and selling low, therefore with a loss. It is not a matter of what you do or do not believe. Until yesterday this forum was mainly all about bitcoin fans constantly telling each other how to hodl and bitcoin would go the moon. Now we are rapidly seeing many of the same bitcoin fans publicly telling on this forum how they have now cashed out. This is not about what I have or have not done. I am merely observing the plain fact that bitcoins fans in here are now visibly cashing out - and in here it has typically only been people saying "hodl" in every dip. But not this time.... |
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It just a normal correction
No it is a larger drop than the Mt.Gox decline. An this happened in 4 days whereas Mt.Gox price crash took 2 months. |
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This could very well be the bursting of the bubble - especially with a lot of stories coming from strong bitcoin fans in here that they have also now sold out
I doubt Bitcoin will go below 6000$! I highly doubt that. The price is down by 6000$ - that is a fact |
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Everyone talks about big commissions and that Bitcoin will fall very much. Roger Ver log in, please.
Don't panic, you know than BTC is a very volatile and speculative cryptocurrency. Some people and groups of people can manipulate the fears of novice investors and traders.
It's just your decision to sell or buy.
I think the FUD here are really targeting newcomers. For us, who have been here for so long are not affected by any negative news. Even at the height of China crisis, I didn't blink an eye and just hold on my bitcoin. But today, since the price is dropping at $14K, people panic, someone created FUD forcing newbies to make the hard decisions to sell or incurred lost. I also sold mine at $19K, everything to be honest. Not because I panic but because I needed the money. But seeing the price today, I will definitely buy bitcoin back again and will HODL on it until such time that I some some emergency situations in my end. And remember, you will always see people here creating FUD specially when the price is going down. The best thing is to is not to be affected by the negative news, but to keep calm and think of it long term. That Prepaid.com guy and freight joe and thier newbie accounts been spreading fud for the past 2 weeks. I been calling it out, people are in here trying to cause panic in the bitcoin community, you guys are not fighting enough to report them for spamming useless topics Yep. I notice that also. Many newbie/low rank account keep spreading FUD news regarding selling BTC since last week and I think many bandwagon holders are now selling because of this FUD. Also, the title of this thread is very misleading. This topic must not be created as well. Why you just reply that post of yours on the thread were you see it since you just reply in the first place?  The mods must ACT now or else this forum will be flooded by FUD news made by group of people that want to destroy BTC and we all know who is them right?  This is actually showing very well why the price is now going into the crash. People like you are so afraid of negative views that you want to silence people that do not only say the nice things you like to hear. You are afraid the just a few critical words will damage your investment. Well, that shows that you are genuinely afraid that your investment is so weak that it can be blown over by words in a forum. Truly that shows an extremely weak business value. Basically, anytime someone calls for censorship towards a particular view, it shows they have no arguments and no solid case, and hope that by silencing the critics the problem will go away. It won't. |
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OP, you are still new here and you might not be accustomed to Bitcoin's volatility, and to tell you the truth, it is quite normal.
This is not true. The price dropped (so far) from 19700 4 days ago to 12504 as a current low point today. This is already a drop larger than Mt.Gox in 2014 and also larger than the drop seen in September. |
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Everyone talks about big commissions and that Bitcoin will fall very much. Roger Ver log in, please.
Don't panic, you know than BTC is a very volatile and speculative cryptocurrency. Some people and groups of people can manipulate the fears of novice investors and traders.
It's just your decision to sell or buy.
I think the FUD here are really targeting newcomers. For us, who have been here for so long are not affected by any negative news. Even at the height of China crisis, I didn't blink an eye and just hold on my bitcoin. But today, since the price is dropping at $14K, people panic, someone created FUD forcing newbies to make the hard decisions to sell or incurred lost. I also sold mine at $19K, everything to be honest. Not because I panic but because I needed the money. But seeing the price today, I will definitely buy bitcoin back again and will HODL on it until such time that I some some emergency situations in my end. And remember, you will always see people here creating FUD specially when the price is going down. The best thing is to is not to be affected by the negative news, but to keep calm and think of it long term. That Prepaid.com guy and freight joe and thier newbie accounts been spreading fud for the past 2 weeks. I been calling it out, people are in here trying to cause panic in the bitcoin community, you guys are not fighting enough to report them for spamming useless topics Price is down 6000$ in just 4 days - that is just fact. If that gives you cause to feel fear, uncertainty and doubt that is really something that should lead you to re-examine your "investment strategy" |
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Should I sell or hold? Right now sincere advise needed.
GTHO. (Get The Hell Out) |
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In December 1st the price was around 9700$, so yeah, there's plenty of room for collapsing more.
It's disappointing for me because of the timing, but yeah.. nothing is perfect.
The bottom is 15k, is 12k... many have predicted a fall to 50% so it would be under 10k! Well, the same predicted that after that huge fall it'll go to 50k, but looking now on the market makes it hard to believe.
*Sigh* not much to do now excepting to wait and see....
Before Mt Gox Bitcoin was around 1200$ from what I know. Then the decline was quite long, from dec 2013 until sub-200$ prices in 2015. That's a 6x fall. I don't think Bitcoin will go 6x down again (to 3300$), so I can't compare with Gox.
Mt.Gox was merely the trigger point for a long and protracted downturn, so yes you can compare it. |
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The largest previous impact was the Mt. Gox collapse in 2014. As per wikipedia: "From 1 February 2014 until the end of March, during the period of Mt. Gox problems, the value of bitcoin declined by 36% "
There was a crash from $5k to $3k (40%) in September within just a few days. Close. The drop was from 4950 to 3226, being 34.8%. |
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BTC down on 12'500
ETC, Ripple, IOTA all down more than 30%.
Whats going on?
thanks
It is the same as the dotcom crash - it crashed the price of all internet based companies (even the healthy ones). In the cryptocrash all coins will also crash. |
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