HUUUGE CRASH COMING

[Fatoshi]

I predict everything is going to crash dramatically in the following days and weeks. Crypto has a balance problem with running between absolute bearish and absolute crazy bullish. So we again ran too far too quickly and it's all coming down.

BTC back to 750 at least.

Most alts 30-40% drop....probably much more.

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[dopecoindude]

Could be the case. I've heard stranger things before! 

[Antonioz]

it doesn't sound like an impossible scenario in the world of cryptocoins 

[Fatoshi]

It's actually very likely. The explosion in Bitcoin was based on the fact Chinese were looking to move funds away from gov. So now China Central Bank is cracking down and making it compulsory to register real identity.



This also screws Dash, which was hoping the anominity thing would get past China wall.....it won't..at least for Chinese.


Conclusion expect a massive crash in coming days.

[nextgencoin]

Only option is to move to USD tethered coIn for next few weeks of find very undervalued projects that havent been caught up in this bull run.


A few I like are Komodo, Incent, Coval and Counterparty. Think under the radar but great projects to seed into.

[nextgencoin]

It's actually very likely. The explosion in Bitcoin was based on the fact Chinese were looking to move funds away from gov. So now China Central Bank is cracking down and making it compulsory to register real identity.



This also screws Dash, which was hoping the anominity thing would get past China wall.....it won't..at least for Chinese.


Conclusion expect a massive crash in coming days.

Well dash is still on the up and up while Bitcoin is down.

Come back in a week.

[FractalUniverse]

i dont think every alt is going to crash, there will be many exceptions, but general cryptomarkets direction seems to be bearish now and it will stay that way for a while

[Fatoshi]

i dont think every alt is going to crash, there will be many exceptions, but general cryptomarkets direction seems to be bearish now and it will stay that way for a while

No one is saying they will collapse forever but a healthy market doesn't go parabolic, it just doesn't. It's perfectly healthy that there is a pull back. I just think after this massive run the pull back will be pretty deep.

[Fatoshi]

It's actually very likely. The explosion in Bitcoin was based on the fact Chinese were looking to move funds away from gov. So now China Central Bank is cracking down and making it compulsory to register real identity.



This also screws Dash, which was hoping the anominity thing would get past China wall.....it won't..at least for Chinese.


Conclusion expect a massive crash in coming days.

Well dash is still on the up and up while Bitcoin is down.

Come back in a week.

That's what I thought a week ago.

Dash is being artificially pumped, it's not a good example.

[NUFCrichard]

I think there is a real doubt about Bitcoin at the moment, due to the possible hard fork.
If bitcoin forks, why is it any better than the other shitcoins?

That is why people might look objectively at all the alts and decide that ETH or DASH is the way forward, not Bitcoin unlimited or Bitcoin core.

I agree with you though, everything will crash due to lack of confidence, bitcoin is the fallback, if that stutters, crypto stutters.

[dinofelis]

I think there is a real doubt about Bitcoin at the moment, due to the possible hard fork.
If bitcoin forks, why is it any better than the other shitcoins?

That is why people might look objectively at all the alts and decide that ETH or DASH is the way forward, not Bitcoin unlimited or Bitcoin core.

I agree with you though, everything will crash due to lack of confidence, bitcoin is the fallback, if that stutters, crypto stutters.

I agree with you, though I don't think the fear is about the hard fork, but rather about the lack of hard fork.  And I think that status quo is what is designed to happen, and which is the cause of the fall.

Personally, I thought that status quo (which is in my opinion the only outcome of this thing for fundamental dynamical reasons) was not going to affect price much, but would push away normal people from bitcoin and only leave big money.  But maybe it were normal people greater fools on which bitcoin was still thriving.  Them away and it crumbles.

Interesting times !

I do not dare hope that this is finally the end to the greater fool game all of crypto is involved since many years...  It would be great, but I have difficulties believing it is already today...

[dinofelis]

No way a hard fork is the uncertainty and change, looks at regular investments and stocks this is what scares investors.

I can assure you that as long as bitcoin is leading, there will not be a hard fork.  BU has only one goal: keep segwit impossible, and keep status quo.

[Fatoshi]

Problem with Bitcoin is it hasn't grown in acceptance and usage it's just grown as a speculation. once people realize BTC is not a digital gold and that some other alt coin can replace it in a heartbeat it won't be a good store of value even.

[Arvydas77]

I think that most of you are dramatizing events too much. I agree that markets could be bearish for some time but money are not moving out of crypto, they are moving into crypto. Do you think that fiat is safer with current inflation rates and unpredictable financial system that can crash any time? I don't and if you're scared about what will happen just move everything you have to Tether, sit and watch markets moving.  

[dinofelis]

Problem with Bitcoin is it hasn't grown in acceptance and usage it's just grown as a speculation. once people realize BTC is not a digital gold and that some other alt coin can replace it in a heartbeat it won't be a good store of value even.

Indeed.  Once bitcoin is gone as king, there will finally be open competition between crypto ; and hopefully this greater fool game is then over, and crypto is only valued by Fisher's formula with its real usage.  That might be a shock, as the total market cap will be divided by 100 or more or so.  But that's the real economic value of crypto.   All the rest is a HUGE bubble full of greater-fool hot air.

Also, the demise of bitcoin as digital gold will cure people for at least one generation to play greater fool games with these things, and think that what they bought for $1 will make them a millionaire.  But we'll see.  I'm not sure that this is the time yet.

[Arvydas77]

Problem with Bitcoin is it hasn't grown in acceptance and usage it's just grown as a speculation. once people realize BTC is not a digital gold and that some other alt coin can replace it in a heartbeat it won't be a good store of value even.

That was predictable and I was talking about that many times. Just look at Bitcoin code and you will understand why. However, code is not static. You can write, rewrite it and create absolutely new system that is suitable for worldwide adoption. We don't know what will happen with BTC but if developers won't change things, it will evantually fail. But if they change, we have a new start.

[Cashew]

This is true, but not entirely. Bitcoin will not go that low, and I think we already are at the bottom, but for altcoins this is true. People, when will you understand that this is just a whale game ? Everyone was spitting on Ethereum a week ago and now that it pumps more than anything reasonable, everyone worship it... Altcoins are just a toy to steal your bitcoins, and you need to understand this if you do not want to make the whales richer. All of these rises, absolutely all of them, will not last very long ! You have been warned !

[dinofelis]

Do you think that fiat is safer with current inflation rates and unpredictable financial system that can crash any time?

Honestly ?  Yes.   Crypto has much higher inflation rates (if you count all new alt coins) ; politics will not let the financial system crash - they will steal people of all their assets (including bitcoin) before they allow that to happen.  Suppose that the financial system crashes.  What are you going to do with your bitcoin in the supermarket ?  Blocs are full.  Your transactions will need weeks to get through if you think that bitcoin is going to be a hedge.  By the time everything is back to normal (7 years later or so), you starved to death with your private keys on your USB stick.
What you need in those times are simple goods.  They cannot be obtained against bitcoin, ethereum or dash.  The guy selling food doesn't know these things exist, and if he would those systems would be entirely saturated.  

[Arvydas77]

Do you think that fiat is safer with current inflation rates and unpredictable financial system that can crash any time?

Honestly ?  Yes.   Crypto has much higher inflation rates (if you count all new alt coins) ; politics will not let the financial system crash - they will steal people of all their assets (including bitcoin) before they allow that to happen.  Suppose that the financial system crashes.  What are you going to do with your bitcoin in the supermarket ?  Blocs are full.  Your transactions will need weeks to get through if you think that bitcoin is going to be a hedge.  By the time everything is back to normal (7 years later or so), you starved to death with your private keys on your USB stick.
What you need in those times are simple goods.  They cannot be obtained against bitcoin, ethereum or dash.  The guy selling food doesn't know these things exist, and if he would those systems would be entirely saturated.  

I don't agree with you. Why do you need to buy goods with crypto if you can do this with cash? Crypto aren't designed for everyday buy and sell operations primarily. For that purposes we are spending fiat. But the problem with fiat is if you try to save it for the future generations. For example, my parents worked about 45 years and what they saved now are worth a few thousand EUR. That is weird and that is because they saved in fiat and inflation ate almost everything. Ok, if you don't like crypto, go with precious metals, artworks etc. But I like crypto and I think it is a start of huge transformation of financial system and in humanity itself.

p.s. about inflation rates of fiat and crypto. Just looks at some charts of statistics and you will be surprised.

[joerazor]

I agree that BTC will be very bearish in the coming days and will probably consolidate at around $700-800

But I disagree on the fact that altcoins would drop. In fact, I see some altcoins being pumped due to money coming to them!

Altcoins are stronger than before and some of them are currently strong enough to be independent regardless of what happens to BTC.

If BTC does not implement segwit, I suspect another coin to dominate the cryptoworld in the coming years. BTC fees are very high, with a slow and congested network that cannot survive, especially incredible technologies that some alts have.