Where’s the Fire? Bitcoin and Major Cryptocurrencies Take Massive Beating

[hoverdrone]

I thought at this point everybody already got accustomed to this behavior of Crypto. I personally see it as an opportunity to buy more.
No denying that this is extremely nervous, but try to keep your head as cold as possible.

[bitbunnny]

I have the feeling that many people have totaly wrong picture of Bitcoin and cryptocurrency. They are only supporting it when the price is on the rise and when the price goes down some claim that Bitcoin is scam, bubble, that is going to disappear from the market and that they were fooled. Actually I don't understand such way of thinking.
Cryptocurrencies are volatile and risky and the moment you invested in Bitcoin you took that risk. But no one didn't force anyone to invest and no one didn't promise only profit and price rise. So, get yourself together or give up Bitcoin, maybe it's not for you at all.

[Twentyonepaylots]

Bitcoin and all other coin price move 50-100% down many times in past
so all this is natural, people must trust their investment because if crypto can grow up to 1000% then it may fall 1000% as well

  It's the market Volatility... The sudden drop on the price value of almost all Crypto and ALTCOIN creates a lot of Headache on the part of investors, the loses to Millions, yet its everyone investment got loses either Big or small still the same, its really a market lost. But i am still optimistic that market recovery will come soon after the market stabilized, form another market confidence of the consumer's investors...

[yitzjoe]

I think that many investors are withdrawing their funds this month because crypto prices continue to fall and I noted that BTC prices reached $ 4400 today, many users will hold hold because that's their only choice, but in their minds will Crypto rise quickly?

[btc_angela]

And it continue to get hammered as I typed this reply. Lol. I really don't know what's happening right now, not just bitcoin but the whole crypto is suffering. This is supposed not to happen at this moment, but congrats to Bitcoin Cash for instilling war and then affecting the Bitcoin market. So its going to be bad Christmas for everyone if the trend continues. I do hope that we already found the bottom, at $4300 right now, because going below $4k would be a disaster before the end of the year.

[aoluain]

I have the feeling that many people have totaly wrong picture of Bitcoin and cryptocurrency. They are only supporting it when the price is on the rise and when the price goes down some claim that Bitcoin is scam, bubble, that is going to disappear from the market and that they were fooled. Actually I don't understand such way of thinking.
Cryptocurrencies are volatile and risky and the moment you invested in Bitcoin you took that risk. But no one didn't force anyone to invest and no one didn't promise only profit and price rise. So, get yourself together or give up Bitcoin, maybe it's not for you at all.

I agree i believe there are people out there who are masively underwhelmed
by bitcoin at the moment. Their expectations for it have been shattered by
the current market drop.

There are forces at play at the moment which myself and others dont see
or comprehend. The stock markets are down big time also, is that transferring
Over to crypto? > https://www.marketwatch.com/story/dow-futures-tumble-nearly-300-points-nasdaq-poised-to-fall-by-triple-digits-2018-11-20

"U.S. stocks closed sharply lower Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies, but has now spread to ensnare the broader market. "

[aeternus]

This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.

[Juggy777]

This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.

This phase is temporary it's a blatant attempt by bitcoins cash to destabilise bitcoins, at first it seemed bad but now I'm relaxed knowing in few days the market shall recover again. I know these are tough times, but ask yourself prior to btc cash war was bitcoins weak, or was it stable and moving ahead. There is already bitcoins etf first of it's kind coming, people are gifting bitcoins for holidays so for me bitcoins shall recover and recover fast just be patient and hodl.

[guoyu78]

Just before lunch on Wednesday, the crypto market looked like a bear’s den, with all ten of the top cryptos by market capitalization having bled more than 5%.

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

In fact, Tether took a 24-hour loss in market size of at least $100 million, meaning that a good deal of the capital fleeing various cryptocurrencies was not only not heading into Tether USDT, but it was also leaving the market altogether.

CCN | https://www.ccn.com/wheres-the-fire-bitcoin-and-major-cryptocurrencies-take-massive-beating/

And it is going down even further. The more we say "it dropped, it can't drop any further, this must be the dip!" it goes down even further. I am afraid if someone says "the price can't go lower than 4 thousand dollars" bitcoin feels like it must test it. Whenever we talk about how the price should go up now and 20 thousand dollar is a possibility we do not focus on the pessimist say, we don't say "bitcoin can't go to 20 thousand dollars" no we say "bitcoin could go to 20 thousand dollars", whereas when we talk about going down we say "bitcoin can't go under 5 thousand" and not "bitcoin could go under 5 thousand". Which shows that people at least at the back of their mind think the upside is more possible than down. However market is here to prove us that we are all wrong about that.

[upsidedown75]

This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.

It is not a weakness and it is a weakness at the same time. Bitcoin itself has been growing strong over the years, no doubt about that as we keep seeing more real believers who are ready to look at the long term keep popping up and even some who did not have that mindset before had to force it knowing that at this point, they have so much more to lose bailing out from the market.

However, every greedy rally in which people are FOMOing and wanting to get rich always lead to things like this, which is why I consider those movements a weak and unsustainable ones, and main reason why the best thing that is always good for any market is a consistent and steady growth.

[bajingluncat]

the current situation raises many questions and speculations in the public, there are still many who hope everything will be fine even though true bitcoin prices are currently touching the lowest prices throughout 2018, all hope this is only an annual cycle, there are still many predictions that prices will rise soon, even touching one million dollars in 2020, we just look at it and remain optimistic by holding hold of bitcoin without being tempted to sell just because we want to cut losses, because by holding it means we have participated in holding back prices from falling again

[chenhaonan]

Capitalists are usually the most sensible. Through this incident, the cryptocurrency market continued to slump. I don't think there will be a global financial crisis this year. Otherwise, the cryptocurrency market will not be so depressed, and the government will artificially manipulate the economy. The war may already be on the verge of humanity.

[rickadone]

The reason why it went down so much is the way rich people can wait this out. Right now the price dropped a lot but those people sold bitcoin at 30 thousand bitcoin levels all at once. It means the market responded really harshly and the prices for everything went down. It is not a surprise that all coins drop when bitcoin drops because most of the time prices are tied to bitcoin instead of dollar and that results with all coins value dropping when bitcoin drops.

Since, rich people can wait out the storm they sell a lot of bitcoin all at once and use that money to gather back some bitcoin slowly, by slowly I mean couple thousand bitcoin a day. That way they will have more bitcoins at these prices compared to what initially they had. Instead of having 30 thousand bitcoin they can sell it and get 40-50 thousand bitcoin in return. Patience is their winning method.

[olubams]

Trying to understand the reason why the price have gone to an all time low in a long time is looking for reasons for the problem rather than focusing on the solution to that same problem. The market has really taken a hit which point to the direction that majority of the news and reports displaying how strong bitcoin price is against all odds are merely overstating and overempahsisng how strong the base and the market is. Invariably, for a return to the green period would mean some serious push for everyone irrespective of loyalty to any coin.

[setialovers]

Most coin in market drop the price last week. Cryptocurrency Market cap value drop more than 60billions dollar in just one week. Its really shocking but hopely we not panic and selling our coin at cheap price. I am better hold my coin and sell it at best price

[Rhosadah]

Bitcoin and all other coin price move 50-100% down many times in past
so all this is natural, people must trust their investment because if crypto can grow up to 1000% then it may fall 1000% as well

carculation your right, it is impossible to fall 1000%, this is only Red zone for some time and crypto will be passed to the gradual increase to market recovery.