We ruined a bunch of young people that will never come back.
We hate young people.
The stock crash of '09 burned a bunch of millenials on every investing in the stock market, and the crypto-crash of '18 will, I'm sure burn a bunch more people on every investing in crypto.
You are predicting that this current crash is NOT over?
What are the chances that there is another uprun in altcoins and BTC before the BIG CRASH comes? Do you know? Can you reasonably presume that this time around is the BIG ONE?
I will concede that a lot of peeps already got reckt, but there are a lot of peeps also who are ready, willing and able to ride out the downwave, assuming that there is going to be another upwave at some point.
Personally, I have my doubts that this current correction is going to be a several year long correction that really weeds out the vast majority of 14 year old crypto speculators.
myself, it looks a lot like 2014 to say Jan of 2016 a lot of drama, sideways price movement on BTC and LTC and other altcoins. This may take a bit.
Well, Searing, it depends upon which part of 2014 you are referring.
If you are talking about the middle of 2014, well there were a few times, that a large number of BTC HODLers believed that the bottom was "in" and then the bottom continued to fall out, and by the end of 2014, we had pretty much reached the bottom..... even though we did not know whether we had reached the bottom - nonetheless the first about 10 months of 2015 was just largely bouncing back and forth within about an $80 range between about $215 and $290.. .with a couple of times breaking outside of that range.
So, yeah, if our current bottom is not "in" then we could have a few more erratic periods that are attempting to test out the bottom and for bearwhales to verify if they can shake anymore peeps of their BTC holdings.
So, first of all, there may need to be a resolution about whether the bottom is already "in"; and then a matter of how long we bounce around in the range of the bottom before there is a kind of acceptance that BTC prices are going to be moving up rather than down. And, don't get me wrong, even during 2015, even though the bottom had already been reached there was no giving up from the bearwhales to continue to attempt to get the BTC price to go down and to shake additional weak hands out of their coins. The bearwhales are not going to give up, and perhaps, at a certain point, when the bottom is already in, some of them figure it out and start accumulating BTC rather than continuing to attempt to play a losing game in betting DOWN. Also, don't get me wrong, even when the bottom is already "in" there is plenty of dominant opinions that BTC will never go above x price again (and in mid-2015, there were a lot of prognosticators saying that the BTC price would never go above $300 again.. in early 2016, they were saying the price would never go above $500 again... etc.. etc. etc.).
So, if the bottom is "in" (and surely no real certainty about that), then the question is whether the trough will be 3 months or maybe up to a year. If the bottom is not "in", then the period of time to get back into upwards movement would likely be a lot longer.
My real issue is not a bottom of 6k, it is a bottom of 1k one month, 6k the next, 8k the next then 3k again...that kinda movement would really mess with my mind....it could be that wild maybe?
Of course, we know that bitcoin can be erratic, especially when there is a battle about price direction, but you seem to be describing a less likely scenario... even though I agree that both mentally and financially we need to be prepared for possible extreme scenarios... On the other hand, even if we prepare for extreme scenarios, I don't believe it is healthy to dwell on those kinds of negative scenarios and to assign them higher likelihood of happening than they are.. even though we will accept them step by step if they do end up happening.
the whims of btc and crypto are not for mortal men it seems (only the bots know...ie skynet!)
I continue to assert that one of the most certain things about bitcoin remains its volatility... I don't give a ratt's ass about other cryptos, except that I do understand that they seem to be a necessary evil within the whole crypto space. Anyhow, even if we cannot know for sure which direction the bitcoin price is going to go, we can be pretty confident that there is going to continue to be a lot of volatility in the medium to long term - perhaps until it gets into the $1million per bitcoin territory?
Regarding bots or whales or skynet, I don't think that any of them know for sure where the price is going ahead of time, and they merely attempt to push the price as much as they are able to push it at any given point of time to see if they can either break support (on the buying side) or resistance (on the selling side), and accordingly there is a certain degree about how far momentum will take the price in any direction that is then in a state of "happenings."
Poll
