I do what I always do, which is dollar cost average my entry points. It feels way better doing it on the way down because it makes your fiat for once buy worthwhile amounts of Bitcoin instead of the usual small chunks.

I think that you at all times should have an open mind and a conservative stance when it comes to crypto, because I always had in mind that the $6000 mark wasn't anything special even though it held well for the most part.

I really feel bad for those seeing their bags lose more value day after day. It's true that people are responsible for their own actions, but you can't do anything other than feeling sorry for what they go through. No one deserves this.

That actually explains a lot. I really thought crypto went back to its lunatic state, which it did, but this seems to have been insider trading that started it off. I was intentionally avoiding news so I would have missed that one.

The more people being aware of BAKKT delaying their futures platform, the more people will instantly consider current sell-off to be manipulation, which could help to reduce the panic for a moment.

It might also stimulate people to stop caring about the Bcash drama, because they aren't anything other than a tiny drop of fuel in the currently bloody oversold market, and not the main cause.

I find it weird though that Bittrex doesn't allow funds to be recovered after their stated withdrawal time frame. It's clear that not everyone will be able to withdraw their funds on time.

There should be a policy in place that makes sure users who didn't manage to withdraw their funds will still be able to get them. They state assets become unrecoverable, but how exactly? Do they burn them or what?

It's way more likely that the unclaimed funds become property of Bittrex and they end up selling them elsewhere, could be to recover some of the funds they lost during the attack they suffered from.

OP, can you send them an email explaining your situation without threatening to report them or follow up with legal action? Not much to lose anyway.

Bitstamp marked $4237 which means that the price lost $2000 in a single week. It's going to be interesting to see if this was THE dump to shake out the get rich quick rookies who kept firmly hodling this year.

I expected the price to bounce back, which I have seen is what a lot people were thinking, but TA once again proves to be worthless. There isn't a way to factor in panic, and there is plenty of it right now.

Is anyone here feeling uncomfortable already?

I don't think any of the current traders think even a second about what miners are going through. Price doesn't follow miner demand, miners follow price action and adjust themselves by adding or removing hashrate.

CNBC Brian Kelly at $5500 said he bought in, which usually is a bad sign, and it turned out to be. Right now CNBC expects the price to drop significantly lower, and these statements usually mean the opposite.

Let's give it a day or so to see if they are still the perfect counter benchmark. For what it's worth, the market seems like it has been sold out like mad, which usually translates into a mild recovery.

"Support" at levels we haven't visited doesn't mean anything. By the time we approach the $4000 mark, which people think will generate tons of buy support, could turn out to be a level no one is willing to support.

I remember how people before we broke the $6000 mark considered $5000 to be a level at which buyers will pop up offering enough buy support to maintain that level. We saw today how $5000 didn't stand a chance.

Crypto is back the way we know it, which translates into crazy price action no one has a clue about what direction it will be heading to. People said the market was boring, well, the boring part is over.

I understand that it may seem odd, but it's normal and relates to the different sentiments. During a bear market good news has next to no impact, where during a bull market bad news has next to no impact.

Also, the developments that we read about nowadays (this article fits in that category as well) concerns the ecosystem around crypto currencies, and not so much crypto itself.

Crypto is the source of everything at the end of the day, because if the demand for crypto isn't there, the ecosystem around it won't be able to function either, which should make sense, right?

If you realistically look at the industry, there isn't much left to be hyped up about in the short term. Bitcoin had its run and doesn't seem to deliver anything other than LN being in development.

The same basically applies to other crypto currencies. Ethereum had its run as well and has not much left to impress investors with. Crypto went up too much, too fast. It's an adjustment back to reality.

The only benefit of the current bearish sentiment is that you can buy more coins for the same amount of fiat. I said it yesterday as well, these discounted rates are our early black friday and cyber monday sales.

Use it in your advantage.

Bitcoin tanked well below $6000 before they started stealing people's hashrate. Also, Bitcoin's hashrate at no point dropped below 40 exahash, which is also important to note.

If you look at Bitcoin's hashrate chart in the more recent weeks, it was bouncing between 40 to 60 exahashes continuously, which means that there is far more hashrate available than most people think.

Currently it dropped below 40 exahash because the price went down significantly, which makes sense considering that hashrate follows price in a healthy environment, and Bitcoin is healthy.

If it was the Bcash drama causing this decline, people would dump their BTC and park their funds in altcoins, which isn't happening. It's panic of the purest form that takes the price down. This is crypto. Welcome.

The bottom isn't what people think it will be, because remember, the market doesn't repeat if the mass expects it to repeat. The bottom will be known by the time we're going back up again.

People panic but don't realize how much of a buying opportunity these dumps are. I'm sure they'll get back in, but that will be on the way up, where they always find themselves enter the market at the wrong time.

I keep reading that people think CSW has a lot of BTC, but what's that based on? They are using the sentiment against people in an attempt to talk themselves up, which is ridiculous if people actually believe that.

The price should have tanked way below $6000 a couple of months ago already, where right now we're only speeding up the process of correcting accordingly. Let it happen, it won't continue endlessly.

The lower the price is, the less effective dumps become, because the same amount of fiat already in the market will be able to eat through larger sales more efficiently. Sellers, keep emptying your bags, do it!

The domain name is pretty odd, which usually is a bad sign already, and if you look further, the domain has been registered just a week ago. Both red flags that should prevent you from using this site.

How much of this 1.29BTC is your initial deposit and how much has been obtained through "winning"? If it's only pocket change then move on because there is no way they'll give you anything back. It's a scam.

How did you even find this site?

Most of the volume was generated around the bottom, which is pretty normal after a significant dump. Time will tell whether or not $5000 will hold or break, but I'm not that optimistic to be honest.

If the same support level is being tested over and over again, it will break eventually, and it did. It took longer than expected, but it was only a matter of time. Don't ever ignore basic market laws, because it even applies to crypto.

I genuinely hope that people have taken a step back and not put all their confidence in support levels, because crypto can and likely will continue to drop below levels that most people think are low already.

Of course he doesn't. It's called gut feeling. Some believe Bcash fork drama is the main cause, others believe it's miner manipulation, and others believe it's insider trading, and so forth.

It might have been a large trader with a massive short position open that dumped the price slightly below main support to trigger stop losses. It's perfectly possible with how thinly traded the market has been for ages.

At the end of the day, it doesn't matter who or what caused the price to tank, it happened and we have to move on. People have become a whole lot more bearish now their precious $6000 mark has been broken through.

When history repeats itself, people say: I told you so!

When history doesn't repeat, people say: I told you this time it's different!

Who's right and who's wrong when everyone can simply adjust his prediction based on the changed market sentiment? I like Tim Draper because he sticks to his prediction, regardless of the sentiment.

He knows that there is no point looking at what happens in the coming months, because it's way more likely to be wrong, and looking at all the perma bulls we have seen pop up, they have been wrong time on time again.

Tim Draper knows how things work, and he knows what it is to see the price tank to the bottom while hodling tons of coins. He is one of us, not one of those who only talk like an expert but not own any coins themselves.

While these debit cards are quite handy because of their much wider level of adoption, and you don't have to cash out coins to fiat yourself, you aren't actually spending your Bitcoins, but still fiat, which is important to know.

In the background the debit card provider converts your coins to fiat, then settles the payment in fiat. The only thing you see happen is that they deduct Bitcoin from your balance every time you conduct a payment.

As far as OP goes, it makes no sense to cash out anything at this stage. I mean, if you really need the funds, then do it, but the real black friday deal is the current Bitcoin price, so use fiat to buy Bitcoin instead of stuff you don't need.

Tax payers always end up sucking on the wrong lollipops. Remember what happened in Cyprus? They gave people a fresh haircut, and they had no choice but to swallow it. I'm sure that we'll be subject to that same form of theft at some point.

They probably calculate in the way that most of people's savings aren't used anyway, so why can't we take a cut of that to clear some of our debt? It doesn't require money printing, and thus it doesn't devalue their currency further.

It's only a matter of time. Be happy that Bitcoin has gotten cheaper this week, the lower the price is, the more Bitcoin you get for the same amount of fiat, which you could lose a chunk of if governments go nuts on us again.

@milewilda

Considering that the majority of the people falling for these sites have an IQ well below average, the site's layout is appealing enough to trap them, and keep them entertained for a good while.

I have seen worse sites represent ICO projects and they raised millions during the boom. I doubt they spent more than a couple of hours to set everything up, which yielded millions effortlessly. It's crazy if you think about it.

If this site generates the operators a decent monthly paycheck, they will continue to keep it live, if not, they'll dump it and move on to the next site with a new domain attached to it.

Governments are slow with catching up on everything that's happening here because they absolutely love the gray area they can use against you at any time of the day, even when you did nothing wrong.

It has been happening in Russia for years now that the government there selectively stands up against anything it deems as a potential threat to their existing system. Maybe that applies to India and China as well.

I'm glad that people and businesses keep doing what they think is right, because it's way easier for them to abide by what the government tells them is right or wrong. This is the power of crypto.

Roger is all about his Bcash being the form of money that Bitcoin (according to him) isn't, and of course his precious merchant adoption. This drama doesn't yield anything other than losers, and for that reason pretty legit.

Craig Wright is a psychopath, someone who doesn't want to see anyone operating above him, because he is satoshi at the end of the day. He owns Bitcoin. He can't accept that Bitmain is the main reason Bcash has its current value.

If BCHSV ends up being supported by both nChain and CoinGeek, they will eventually start fighting as well, and from there it's just a matter of time before CoinGeek either goes back to ABC, or forks off to become a seperate coin.