stop trying to short bitcoin. shorting will come back and bite you in the ass eventually. if you don't believe me do a little search about all those newcomers like you who tried shorting bitcoin and lost. this market is not kind to people like you. don't say we didn't warn you... 

if by "insane" you mean all of it then you are right because they controlled the whole supply and each time they pump it they click a button and release a couple of billion new XRP on the market out of thin air!

the only thing you need to keep in mind when reading the topics around here is that most of them are started by people who have lost money because of the price drop and also because they made bad decisions. and it didn't stop there, most of them are in panic mode because they were expecting to become rich and expected the price to ALWAYS go up 100% per month and since that didn't happen they are confused.

another way of looking at it is this:
that is 104,868,796 satoshi per person. depending on the price when the mass adoption happens it can be worth a great amount.
a year ago the same amount was barely worth $1, 2 years ago it was barely worth $0.5,... and now it is $7+ and in a couple of years it will be a lot more.

either heavily regulated (so that they are more trusted) centralized exchanges.
or easily used with a lot more user friendly options decentralized exchanges so we eliminate the middle man and the trust issues all at once.

so far we have half of each of these! centralized exchanges that are somewhat regulated but not trusted yet and decentralized exchanges which are not easy to use and don't have the same options.

1 hour candles should be more than enough to analyze most of this market but sometimes having a better precision among altcoins that get pumped and dumped can come in handy specially during their pumping phase where you want to keep an eye on the volume and how it is changing so you would want to see the 5 min candles too.

well he has been around since mid 2016 so technically he shouldn't lose money even if price fell below $1000.
but i don't think that is what he meant. he meant the drop is an opportunity to buy more coins with the same amount of money that you have. for example if you were investing $50 per month in bitcoin, now you get to buy even more amount of bitcoin with it.

what happened is that you are making a lot of assumptions only to make the conclusion that you want. otherwise if you only move based on facts you can see how wrong you are. and also your math sux

for example
you don't know either one of these. you are only making a guess. there are a lot of exchanges and a lot of big services that hold a lot of bitcoin belonging to a lot of users. for example Coinbase coins are unaccounted for and they are offering service to millions of bitcoin users.
and the lost coins is just your pure 100% guess. and off the mark by a lot.

your math is horribly bad also

lets say there is really 13 million coins in circulation or what you call "live bitcoin" then 13000000BTC/7,628,579,989 = 0.00170411BTC which is about 10 bucks worth of bitcoin.

953 bitcoin each for 7.6 billion people means the supply is 7,242.8 billion bitcoin!!!

one thing is certain and that is the fact that you should not sell because you missed your chance of selling. if you wanted to sell your bitcoins then you should have one it 2 days ago as the price was falling down from $7500+ and you could see the big whale dump on the market.

right now the dump is over and although you don't know if the price will rise but you don't also know if it goes down either. so selling now is like taking a 10 times higher risk.

it is in nature of some people to deny the inevitable. they get caught up in things that are temporary and then lose sight of things that really matter such as the fact that bitcoin is the only decentralized border-less currency that exists and it has a limited supply.
right now everyone is too caught up in the price drama that they don't pay attention to this.

at this point doing nothing is the best strategy if you ask me.
however, you can always place some buy orders ahead of time at price levels that you think can be hit and at least a couple of very lowball buy orders. for example you can assume $6500 is the bottom so you place the bulk of your orders there and then place some around $6000 and one at $5500 as the lowball.

i think it is a good start but i would love to see a lot more restrictions on ICOs than just a fee and a license. they need to come down on ICOs and do it hard and other countries must follow. unfortunately in this decentralized market people have proven that they can not get rid of the nasty ICO disease themselves so the government step-in is a good thing in this case.

we reached ATH on first month of 2018 so you are saying this time to see price back to normal level ($10k) not even the ATH we need 2 full years. i seriously doubt that it is going to take that long this time.
but i agree with the other part, the "sell attacks" will continue for a long time until we reach that sweet bottom.

because many people are like you! they read something and their brain only registers a small portion of what they read. you read some exchange was hacked and you registered it as bitcoin got hacked. they also read something about security and how to do it properly and their little brains registered it as a hot wallet is safe kind of thing!
there is also a lot of scams where exchanges rob their customers and blame it on some hacker that doesn't even exist.

because no matter what is happening these days, the same principles are still true about bitcoin and will remain true like the day one:
- bitcoin is decentralized
- there is a limited number of it available
- it is censorship resistance
- it is border-less
- bitcoin is the most secure and unique currency that has ever existed.

some people don't care about the drama of short term drops. they see the future when price is a lot higher than this and bitcoin is adopted everywhere so they can easily spend it like they do with cash today.

a while ago there was this topic in this board talking about "banks and bitcoin" and whether they are going to some day disappear because of bitcoin. there i said bitcoin is just a new currency and banks are services with currencies, they don't care if that currency is fiat or bitcoin. of course they don't like everything about bitcoin since it helps people not need banks anymore but their services may still be continue to be useful. services such as loans for instance.

they say it was because of that exchange hack but i think people have been looking so hard for some reason to blame this fall upon and they finally found it after the fact!

in any case when things are like this in the market i personally prefer not to speculate any more and also stay away from trading bitcoin. if you have coins you want to sell then do it and stay away and if you have coins you want to hold then hold it and stay away.

both those who think price is going up (rally) each time we have a small rise and those who think price is going down (dump) just because of a small drop have no idea how this market works.

the fact is price is currently unpredictable unless it makes a move either above resistance which starts at $8k and if it is a bull run you are looking for them it is above $9500. or breaks below the buy support which is $6900-$7000

because you are wrong.

bitcoin down means altcoins down. it has always been like this and will be like this for many years to come until the altcoins change for real alt-coins not virtual useless tokens.

what you are confusing with this is the fact that some random small altcoins may get pumped even during a downtrend. that has nothing to do with your title though! it is just a pumper pumping some shitcoin that you have not even heard the name before they pumped it.

this is no longer a correction, the correction was a long time ago. if anything this is just over-correction. and we are already in a bear market. it is not a this-or-that situation.

if you are trying to figure out when this is going then nobody can possibly answer you that. but sooner or later it will end. and trend will reverse.