jehst (OP)
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June 01, 2015, 06:23:22 PM |
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I used to think it was 2011's because 30 -> $2 is a 95% crash. And people thought bitcoin was truly dead. But bitcoin bottomed 5 months after the crash.
1200 -> $152 was "only" an 88% crash, but 18 months later, it's not clear that there's even a bottom.
Which crash do you think was worse?
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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inca
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June 01, 2015, 06:43:10 PM |
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I didn't arrive until 2013. But I would probably say 2011 based upon the forum posts from that time. People really thought bitcoin was dead. This bear market may have been longer but we know that it is just moving coins from weak hands to strong hands before the ride starts again.
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fonzie
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June 01, 2015, 06:43:47 PM |
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I used to think it was 2011's because 30 -> $2 is a 95% crash. And people thought bitcoin was truly dead. But bitcoin bottomed 5 months after the crash.
1200 -> $152 was "only" an 88% crash, but 18 months later, it's not clear that there's even a bottom.
Which crash do you think was worse?
I sadly have to agree, the worst is yet to come! The good news is that we probably won´t crash more than 100%
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"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
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nwfella
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Well hello there!
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June 01, 2015, 06:44:35 PM |
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I used to think it was 2011's because 30 -> $2 is a 95% crash. And people thought bitcoin was truly dead. But bitcoin bottomed 5 months after the crash.
1200 -> $152 was "only" an 88% crash, but 18 months later, it's not clear that there's even a bottom.
Which crash do you think was worse?
I sadly have to agree, the worst is yet to come! The good news is that we probably won´t crash more than 100% lmao...true enough I guess :/
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¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿
Gimme the crypto!!
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LFC_Bitcoin
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#1 VIP Crypto Casino
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June 01, 2015, 07:06:56 PM |
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I don't really care about 2011 because I wasn't involved in bitcoin then. 2014 has been a blood bath though & tbh I'm bleeding from the jugular. I've HODL'D strong the whole way through but it's been awful, really awful. I pray this never ending bear market can be halted & we begin to rise. It's all a bit depressing atm, something needs to happen.
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Amph
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June 01, 2015, 07:12:39 PM |
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it is far easy to overcome a 95%, when you talk about a mere numbers like $30 and $2, not so easy to do the same thing with 1200--->200 or if in the future it will happen again(for sure) with even bigger number(let's say 10k-->1200)
the more we rise, the hardest will be to return to the previous price, every time there is a bad fall
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NorrisK
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June 01, 2015, 07:13:46 PM |
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it is far easy to overcome a 95%, when you talk about a mere numbers like $30 and $2, not so easy to do the same thing with 1200--->200 or if in the future it will happen again(for sure) with even bigger number(let's say 10k-->1200)
the more we rise, the hardest will be to return to the previous price, every time there is a bad fall
You should not forget that the number of people involved and the services that were build were also much lower. The higher price is atleast partially offset by a greater number of people/services/cash involved.
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Amph
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June 01, 2015, 07:19:46 PM Last edit: June 01, 2015, 07:30:05 PM by Amph |
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it is far easy to overcome a 95%, when you talk about a mere numbers like $30 and $2, not so easy to do the same thing with 1200--->200 or if in the future it will happen again(for sure) with even bigger number(let's say 10k-->1200)
the more we rise, the hardest will be to return to the previous price, every time there is a bad fall
You should not forget that the number of people involved and the services that were build were also much lower. The higher price is atleast partially offset by a greater number of people/services/cash involved. this is true, but many people can move the price from 2-to 30, because the market was a joke back then, not so much with a bigger market and a price with 4-5 zeroes at that point only many hands or very rich guys can move it
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NorrisK
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June 01, 2015, 07:22:33 PM |
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it is far easy to overcome a 95%, when you talk about a mere numbers like $30 and $2, not so easy to do the same thing with 1200--->200 or if in the future it will happen again(for sure) with even bigger number(let's say 10k-->1200)
the more we rise, the hardest will be to return to the previous price, every time there is a bad fall
You should not forget that the number of people involved and the services that were build were also much lower. The higher price is atleast partially offset by a greater number of people/services/cash involved. this is true, but many people can move the price from 2-to 30, because the market was a joke back then, no so much with a bigger market and a price with 4-5 zeroes at that point only many hands or very rich guys can move it You are right. Anybody with a decent amount of fiat could buy a couple of hundred to thousand btc back then. Coupled with lower volumes the impact was probably bigger. Didn't think of that.
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Febo
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June 09, 2015, 12:11:13 PM |
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I used to think it was 2011's because 30 -> $2 is a 95% crash. And people thought bitcoin was truly dead. But bitcoin bottomed 5 months after the crash.
1200 -> $152 was "only" an 88% crash, but 18 months later, it's not clear that there's even a bottom.
Which crash do you think was worse?
It took way more time now. So even if BTC will go to $60 will still 2011 crash be bigger. IF it will go under $30 then that is different story
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Xialla
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June 09, 2015, 01:57:25 PM |
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imho 2014, because there were much more merchants, companies and business involved..so overall impact was bigger for sure.(
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spazzdla
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June 09, 2015, 02:05:17 PM |
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Probably 2014 as the bear trend appears that it will continue until the halving then who knows what will happen.
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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June 09, 2015, 02:08:38 PM |
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The first "crash" was much smaller than the second, since there was very low volume involved (fiat-wise), where this recent one was the only "actual crash". The very fact that after all those mega-fails with gox pump and dump, price manipulation, and legal battles were still in 3 figure number means that there IS notable support. If we continue falling, it will be a slow process that will stop evetually, but if we go into another hype, i believe it's going to be an commendable one.
cheers
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JayCoDon
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June 09, 2015, 03:17:46 PM |
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I disagree with the notion that only rich hands can touch it once bitcoin has 4 or 5 zeroes behind it. By its very nature, bitcoin can be broken down to a much smaller decimal place. If one bitcoin becomes worth 10,000 (five zeros), then one bit becomes worth $0.01. Right now, 1 bit is equal to $0.00023. Therefore, if bitcoin goes up in price, the average person stops investing in whole bitcoin and, instead, uses bits. I actually believe there is a trend occurring where we stop talking about bitcoin and start talking about bits. Instead of owning 3.2 bitcoin, I own 3,200,000 bits.
Once you take this into consideration, the recover from $200 to $1,000 is as easy as the recovery from $2 to $30, especially since there is that rich money participating now. And more importantly, since the past was built predominately on speculation, we'll see a true recovery over the coming months and years because there will be increased usage.
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Natalia_AnatolioPAMM
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June 09, 2015, 03:41:03 PM |
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imho 2014, because there were much more merchants, companies and business involved..so overall impact was bigger for sure.(
agree, I also think so
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sdmathis
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June 09, 2015, 04:06:57 PM |
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2014 was much worse for two reasons.
1. More money was involved in the 2014 crash. More businesses were involved as well as individuals.
2. I wasn't involved in BTC in 2011
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BitBlitz
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Turning money into heat since 2011.
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June 09, 2015, 04:12:59 PM |
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2014 sucked more, because many more whiners were holding and mass media tried to make a circus out of it.
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I see the value of Bitcoin, so I don't worry about the price...
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Trouble821
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June 09, 2015, 06:50:19 PM |
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The first "crash" was much smaller than the second, since there was very low volume involved (fiat-wise), where this recent one was the only "actual crash". The very fact that after all those mega-fails with gox pump and dump, price manipulation, and legal battles were still in 3 figure number means that there IS notable support. If we continue falling, it will be a slow process that will stop evetually, but if we go into another hype, i believe it's going to be an commendable one.
cheers
If we continue falling then 2014 would be worse both in time span and depth of the crash. Otherwise 2011 was a worse depth of crash, but 2014 had a worse crash duration. Also all previous crashes bottomed much faster than 2014. Repeatedly hitting what I thought was the bottom, then going lower made 2014 he worst overall crash for me.
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techgeek
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June 09, 2015, 09:24:16 PM |
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The first crash was based on gridlocks on a exchange, so less vicitims to buy it.
Since mt.gox DDOS for the 1st time, with their price hits. 2014 seems to hit more, since the price did hit with VCs.
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