Bitcoin was just dumped down to $2360

[spartak_t]

Nice correction, eh?

[Dr_Voidberg]

Thats why you should never buy on margin. Wonder how many people got wiped out.

[Ayers]

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

[ethereumhunter]

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

its not good to sell right now because the value is reduce but in the future, i think the value will be increase again like before. i think what happen in the last year will be happen again and for people that want to buy bitcoin, i think they can waiting for a while before they want to buy directly because the price is down now.

[thejaytiesto]

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

Im not sure if you know how margin sells. If the margin positions crosses a certain treshhold, your position is automatically closed and you lose all of your money. If the position is a short position, you could end up in debt, even tho I think this is not the case in poloniex, not sure how it works in other exchanges.

Margin can make you rich or can make you broke, thats why it's high risk/high reward.

[Golftech]

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

Im not sure if you know how margin sells. If the margin positions crosses a certain treshhold, your position is automatically closed and you lose all of your money. If the position is a short position, you could end up in debt, even tho I think this is not the case in poloniex, not sure how it works in other exchanges.

Margin can make you rich or can make you broke, thats why it's high risk/high reward.

same as i understand margin trading there's an exact margin for earnings and losing your money and it can happen in a day as the value reach the price in which ways its really a risky trade and for those who played with btc surely they already lose their hard earn investment as we see the big downfall its affecting the traders position now. unlike with ordinary buy and sell as you can hold for long for you to able not to lose a single penny since bitcoin will manage a bounce back for sure.

[cryptomartin]

Do you think guys it will continue to drop?

[BlindMayorBitcorn]

Do you think guys it will continue to drop?

Sure why not.

[theSC4RE]

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

This isn't true. If the price falls far enough their position will be liquidated in order prevent losses on the bitcoin being loaned. The exchange wont let you lose money that isnt yours

[marioG]

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

This isn't true. If the price falls far enough their position will be liquidated in order prevent losses on the bitcoin being loaned. The exchange wont let you lose money that isnt yours

I think he is not talking about shorters...

If you go on margin, you get liquidated as soon as 80% of your money is lost. Does not matter if you went long or short, or with 2x or 5x your money. When 80% of your investment is lost, you are basically at zero. Finally it depends on the exchange ...

[batang_bitcoin]

A lot of sell panic

This is the reason why from $2,700 it went down to $2,300 - $2,200 and now back at $2,000. Every time I'm seeing the price of bitcoin it makes me weak and I don't want to check it again. I feel sorry that I didn't go along with those people that started to sell when the price was still at $2,700. A mistake that I'm regretting until now.

All this also depends by the traders, where if they have an interest is good then the increase will certainly experience a bitcoin multiples are very high. And I see now that this price is going down, because of the bitcoin spirit of traders have already started to disappear or be said of those who play big have got many advantages. So they stop the game and start playing as usual. So, you better follow and never panicked. Because it will help you to become worse
 

At first I'm a panicking but I learned from it, are you sure that if I will never panic it will help me to become worse? Are you sure with or you are spelled out the "worse" wrong. Because if most of us will never panic that will be good to all of us and it will help us to become more calm and give us benefits in the end.

[JeffBrad12]

Do you think guys it will continue to drop?

Yes, but looks the price of crypto gets stable right now. My opinion if there will be little chance the price of all crypto goes down for a bit. But the chart has told me if we are on the stable way at this time. No more panic sell to the market.
I hope the market will realize about how the dump it works to give decent profit for the whales.

We will have passed this phase.

[klixion]

Not a good day in cryptocurrency at all.  It's a blood bath in the market.  Out of the top 100 on www.coinmarketcap.com, maybe a dozen or so coins/tokens are in the green.   

[Adelajda]

Not a good day in cryptocurrency at all.  It's a blood bath in the market.  Out of the top 100 on www.coinmarketcap.com, maybe a dozen or so coins/tokens are in the green.   

Sure it was a blood bath and i think some of the traders lost a lot of money with the market suddenly behaving like this after a good rally for a very long time and some lucky members did make a good amount of money with the rally and i hope the price will recover and i am waiting to see what the big time investors are planning to do.

[btcney]

It seems like price is slowly stabilizing at around $2000, thankfully i've dumped my coins before all this happened so i'm not in a bad situation right now. In fact i can probably pick up some cheap coins at the moment for under $2000.

Altcoins are doing worse than bitcoin is, if you look at the top 100 on coinmarketcap you'll see that most altcoins have gone down more than bitcoin in fiat terms which means that it has gone down more than bitcoin in percentage terms as well.

Where are we heading next?

[dissident]

were very close to breaking out of a descending triangle on a 5 minute chart.. this suggests bitcoin could go up to around $2300-2400 if we break above this pattern on GDAX.

We just broke above it as I was finishing this post. It needed to hit $2100 on GDAX and it did.  Charts suggest we go up to what I said above.. let's see if the technical analysis plays out.

[passivebesiege]

It seems like price is slowly stabilizing at around $2000, thankfully i've dumped my coins before all this happened so i'm not in a bad situation right now. In fact i can probably pick up some cheap coins at the moment for under $2000.

Altcoins are doing worse than bitcoin is, if you look at the top 100 on coinmarketcap you'll see that most altcoins have gone down more than bitcoin in fiat terms which means that it has gone down more than bitcoin in percentage terms as well.

Where are we heading next?

I do not expect the drop of the price of  top 100 coin yesterday I almost lost half of my money , but thank God it's recovering back little by little. I'm still in lost but it's fine I know I will recover it all back.

[UMadorMyrin]

Do you think guys it will continue to drop?

Nope, the correction is now over. Back up to 70+B market cap. Those looking for coins on a discount missed their opportunity

[phunnykidd1]

i bought back at 2300, wish i waited another day.. coulda got 1950!!

[Herbert2020]

Do you think guys it will continue to drop?

Nope, the correction is now over. Back up to 70+B market cap. Those looking for coins on a discount missed their opportunity

usually when there is a big bubble and it bursts there is a big downfall, which is what we saw in altcoin market yesterday. but since there are still believers in the market that think the altcoins' bubble pop was a correction they buy back with high hopes and that is when we see the classic dead cat bounce and surely enough for majority of them the price will continue dumping because those knowing these facts will take advantage of the situation for a quick short term profit.