And the Bloodbath continues....

[Siren]

YEAH THIS is the biggest crash I have seen over the last few months and lately we saw too many corrections in 2017. I still believe we have longer to go as we are coming up to Xmas. I don't see much green till maybe next year when everything has tanked right at the bottom but the problem is mainstream investors are not gonna want to invest in this type of market if it is so volatile and violent lol. So if peeps want to see new money coming into crypto they are not making it happen correctly when they crash the markets to profit take every few days like this.

I agree, I haven't seen this crash, even during the height of the China crackdown on bitcoin, it didn't fell to more than 30% if I'm not mistaken. What we are seeing is a first not only on bitcoin market but the whole crypto as well. It looks like so bloody right now that its hard to think that a few week ago, we are hitting all-time-highs left and right in both markets.

It just show's how volatile and violent the markets are. In a blink of an eye, marketcap is totally wipeout by around $60B. All we can do is hope that everything settles down, at least stop the bloodbath so that we can see some recovery before the end of the year.

[cryptodagger]

Lets all hope in just few hours or days all the alts will recoverd from this tradegy,all hail BTC !

[1satyros1]

Goldman might have had something to do with today's events....


https://www.bloomberg.com/news/articles/2017-12-21/goldman-is-said-to-be-building-a-cryptocurrency-trading-desk

...and these guys are known to ALWAYS make money....

[AK47-]

Altcoins didn't really fall a lot. I was watching market on Bittrex and most of them are recovering. Altcoins are at best accumulation state right now. As now outer investment is not only going in Bitcoin but also is diversifying in altcoins. So, I expect a price surge.

This dumping of price is usually being done by panic sellers. Whales are more interested bin accumulating in each dip.

Goldman might have had something to do with today's events....


https://www.bloomberg.com/news/articles/2017-12-21/goldman-is-said-to-be-building-a-cryptocurrency-trading-desk

...and these guys are known to ALWAYS make money....

This news has nothing to do with the recent cryptocurrency dump. Goldman Sach will be starting altcoins trading by next year June. They haven't yet entered the market. This news if would have any impact, it would be positive as such a big player entering the market suggests adoption.

[JanEmil]

Trading bots and stop loose get activated when we see 10% down. Then we go more down and then people panic.

[shintosai]

Trading bots and stop loose get activated when we see 10% down. Then we go more down and then people panic.

its really a hard scene now inside exchange as we see a lots of downfall and we can't assess why the value keep being dumped even
btc are so low as of this moment better to stay out for just a while before losing much bigger, wait till the market recovers.

[Snaic]

Today, the situation with a pretty strong fall of bitcoins, from almost $ 20,000 to $ 13,000, is regarded as a positive development. It would be much more dangerous for him to quarrel again in price, as this would indicate that the financial bubble is pumped up. Now it has been corrected in price. Many unsustainable investors will get scared and sell bitcoins to themselves at a loss, the demand for it will decrease. This is very positive for bitkoyna, because he refuses to real value and simultaneously reduces the rush demand for him. After some time, taking into account its improvements associated with the implementation of the project "lightning", it will again start to rise in price.

[mercer007]

The bloodbath will continue for a week maybe and after that every thing will turn green hopefully.

[Coinster]

Reminds me of the giant stock selloff during the fall of 2008...Do you think that most of the selloff is done by small/inexperienced investors or from whales?
How long can it go>

This is a lesson in "weak hands". The market was being hyped too much. The thing is cryptocurrency is a good long-term bet/investment, but as word spreads and prices start skyrocketing people start looking at it more like a get-rich-quick scheme (because many have in fact gotten rich) so they spend more than they can afford to lose making prices jump higher, feeding the frenzy. Then the market is "overvalued" so when something sparks a sell-off it cascades downwards as people second guess their over-speculative investment and panic sell.

[Inc_BitSquirrel]

As people already stated, it was obvious that correction would happen eventually. The recent rise of whole crypto market was just insane! IMHO, today's crash was just a domino effect - some whales decided to cash out and the whole market (with focus on newbies) responded with panic selling. What is more I don't think we are totally done with drops yet. Beginning of 2018 will be a bear run.

[sgenuine]

Reminds me of the giant stock selloff during the fall of 2008...Do you think that most of the selloff is done by small/inexperienced investors or from whales?
How long can it go>

The reason of prices down is not in the sell off coins. I suppose it is because the previous growth of Bitcoin was to high and too speedy. That’s just mean it was overpumped by the information and many believers.

[kaysersoze]

About what bloodbath are you talking about? There isn't any bloodbath at the moment.

Well, maybe there are enourmous red numbers on the market but it does not mean anything, the price increased a lot during the last few days, aren't you even satisfied with all the increase that most altcoins had during the last few days?

[tr3yson]

This could very well be a temporary drop like it happened few weeks ago, but who knows, I recommend hodl your coins and dont panic sell.

Of course, it will always be temporary, but this bloodbath was I think the biggest one for this last quarter of 2017, especially to Bitcoin, dropping about 20% in the last 24 hours, it is just massive. Well, to think how fast it grows for the last few weeks so no wonder how fast it also goes down right now. This is just a price correction we've been waiting for, so it is now the best time to buy most especially to crypto traders, it is a shopping day.

[coinmgnet]

Reminds me of the giant stock selloff during the fall of 2008...Do you think that most of the selloff is done by small/inexperienced investors or from whales?
How long can it go>

If there is a whale selling and people sense fear, they will sell too. So my educated guess would say both. The market grew a lot in the past weeks and it was natural for the price to go down a bit, it's healty for the growth of the coins. I'd say this is just a passing phenomen. The coins will continue to grow no matter what the "whales" are doing. This is the future we are talking about guys!

[chocopapaya]

Actually, I hope it drops even further.

The recent price surge was absolutely unsustainable.
I'm hoping that it price corrects even more and then stabalizes before taking off.

With all of this new money coming in to crypto, I am also hoping that these new investors will learn their lessons and make it through the price correction.
In a way, I don't blame their ignorance, it really is a steep learning curve.
If a vast majority just sticks through it through christmas and new years, I think we can see a stable value from which to springboard up again.

The absolute worst case scenario in my mind is if the price correction stops in the next couple days and it shoots up again.
I mean, yay for profits, but in the long term it is very unhealthy for the entire market.
The volatility will burn a lot of people, damage crypto's reputation, and make it even harder for new money to come in.

With that being said, the first btc I bought was last summer when it was around $2500, so I'm not sweatin through any of the price drops now.

[Adil Amim]

There is nothing to worry instead this correction was required for the future growth of Bitcoin. And its a great opportunity for all to buy more BTC.
The best solution for now is to hold back your BTC.

[Nasty23]

There is nothing to worry instead this correction was required for the future growth of Bitcoin. And its a great opportunity for all to buy more BTC.
The best solution for now is to hold back your BTC.

Yes it is just a correction because every peak price of the coin their is always a dump and this is a good time to buy in order to earn more profit. If we buy in the peak just hold it because it will surely up again and maybe achieve a higher price after the dump because it encourage many investors to buy while it's in dump.

[creeps]

There is nothing to worry instead this correction was required for the future growth of Bitcoin. And its a great opportunity for all to buy more BTC.
The best solution for now is to hold back your BTC.

Its red market now, everyone is falling down even altcoins and bitcoin are showing some power now, it may start pumping in the next few days. We don’t need to panic because I know this market will lead us to a brighter future buy more.

[1satyros1]

I Still believe not worth going too big now; we might see another mini crash next week-right before New Year Eve's

[Ryan Dugan]

Don't worry so much. After this year bitcoin will soar way past $20000. Just let everyone get over christmas and christmas shopping all the FUD and worrying about selling so they don't miss out. People stress and worry so muvch, so many emotions gees just relaxx and collect bitcoin.