Little panics like this are good

[Uberse]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had their uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

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[jekjekman]

Sadly to say this most of the people who really hates Bitcoin doesn't even have the time to take what is it really like and the future of it as a digital currency and instead they just want to say what they want to say, but maybe Jamie just have a hidden agenda that is why he keeps on bashing bitcoin since 2015 even if the price of it is increasing without a doubt.

Many people will surely sell because of 'Bitcoins is a fraud' but eventually this will past and bitcoin will soar high again and the people who sold their bitcoin will buy again at the higher price and will regret their decisions, it is a cycle though because history repeats itself.

[Rosa Paula]

Now bitcoin fall down.so i think it is a little panics for me.

[jamirrah]

I dunno why too many people coming out lately and show hatred and not trusting btc. So many issues this week regarding btc maybe this is some reasons why btc price is falling but I dont care I see whats happening to buy btc in cheaper price and wait for the pump to get decent profit. Good I still have few bucks to buy btc.

[RodeoX]

Jamie's Daughter is the real story here

http://www.zerohedge.com/news/2017-09-12/dimon-doubles-down-my-daughter-bought-bitcoin-it-went-now-she-thinks-she-genius

Milennials are making America great again, they don't need Trumps or Dimons!

Old dogs are slow to learn new tricks

Earth belongs to the youth

That is very telling. So he got all butt-hurt because his own daughter is outperforming him in the market. Hilarious.

“Someone’s going to get killed and then the government’s going to come down,” he said. “You just saw in China, governments like to control their money supply.

He seems to think we are asking permission to do this. Silly boy, we are telling you the way it's going to be. We are going to keep burning down the system and extracting our money from his corrupt banks. And there is nothing he can do about it. 

[Pursuer]

They prevent Bitcoin from becoming a true bubble, which would be disastrous.

but we already had the corrections. many of them and big enough to be considered proper corrections and enough of them so that we can say it is NOT a bubble.

but I guess some people wanted a huge drop to be convinced it is not a bubble!

Jamie Diamond's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Diamond has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration.

...or maybe they know more than you and I but they chose this strategy of going against bitcoin publicly at critical times so that they can short it when what they say causes a dip like this. it is a huge profit to do something like that and have that kind of effect.

[Getbdnews]

I believe bitcoin is a bubble and one day it will burst. That will be a golden time for bitcoin buyers.

[Lmaooo]

Jamie's Daughter is the real story here

http://www.zerohedge.com/news/2017-09-12/dimon-doubles-down-my-daughter-bought-bitcoin-it-went-now-she-thinks-she-genius

Milennials are making America great again, they don't need Trumps or Dimons!

Old dogs are slow to learn new tricks

Earth belongs to the youth

Bitcoin defeated Dimon in his own house and he came out shouting to the world saying bitcoin is a fraud. Bitcoin will recover whether these bad people want to or not.

[Fredomago]

its almost crashing everywhere around the crypto i'm sure it will recover back and even those panic sellers will realized what have they done
why did they sell their coins and those who made this issue will be happy holding more coins when pumped start to happen again.

[Arngrim]

Does people really think it is a bubble? It is the people who are controlling it. Those who are holding it for a long time are the one who can make waves. I cant believe people who are registered in this forum will think of bitcoin like that. Maybe they should try a stock market forum. They are on the wrong forum. This one should be all support for bitcoin and how to make it better not bash it.

[digitalgame4life]

I agree little panics as these are good but that doesnt take away that people begin to think about how big cryptocurrency or btc as a whole will be, I understand this is quite normal and good but many are manipulating prices thus so it is not always decentralized and all the shit going around cryptocurrency will have a negative impact, that all is oke but it begins to get ugly when these damn governments begin banning crypto and exchanges specially than the price will go down very bad.

[leexhin]

I haven't trusted bitcoin when I first knew it, and I had the worst mistake of my life. I could've been a millionaire by now, only if I invested my extra money when I started. So, I don't want to commit the same mistake. As much as possible, I wouldn't panic and just hold on to my bitcoin. It might go down a little, but the test starts here. Let's see what will happen.

[greeklogos]

Well, I don't panic cause of I have nothing to worry about, cause of that I don't have any Satoshi yet
I suppose this panic is good for those people who have some money for investment, now they finelly can buy some coins by cheap prices.

[Creepings]

I haven't trusted bitcoin when I first knew it, and I had the worst mistake of my life. I could've been a millionaire by now, only if I invested my extra money when I started. So, I don't want to commit the same mistake. As much as possible, I wouldn't panic and just hold on to my bitcoin. It might go down a little, but the test starts here. Let's see what will happen.

Well I think everyone did until someone became millionaire and a lot followed and made the dream starts for everyone that they will be rich with this digital currency. It is not that I don't trust this digital currency more like, I know that in the near future the price of bitcoin will be high enough that people will be saying and posting that bitcoin is pretty expensive.

[CARrency]

Yeah, I think we were going too fast. But around $ 3800, Bitcoin is a bargain (If you're a long term holder, of course)

The reason people now are saying that it is a bubble is because the price of this digital currency just blow out to $4000 where it just takes 2 months do double the price. If you will be thinking about it, that is really fast but we are just thinking of this when the price drops and not when it is happening because we are enjoying the fact that we are earning a lot of profit.

[darkangel11]

I believe bitcoin is a bubble and one day it will burst. That will be a golden time for bitcoin buyers.

So you'd like to buy but the price is too high for you, am I right? If it really proves to be a speculative bubble nobody will invest in it after its burst.
Anyway, it's funny to see people who think BTC is a bubble register on a BTC forum just to tell all investors and enthusiasts that they're wrong

[maurobiasolo]

I believe bitcoin is a bubble and one day it will burst. That will be a golden time for bitcoin buyers.

So you'd like to buy but the price is too high for you, am I right? If it really proves to be a speculative bubble nobody will invest in it after its burst.
Anyway, it's funny to see people who think BTC is a bubble register on a BTC forum, just to tell all investors and enthusiasts that they're wrong

It seems like that most of "this is a bubble" comments come from people with no BTC on hands but really jealous of other success. That said, panic can be good in any ways: it can definitely help to make players more mature

[meliodas]

Bitcoin has experienced this a lot since it started, so I think it's up to you if you will panic or not. This kind of fall, is a good time for those who will hold because the more people who will withdraw the lesser would be the buying price. And, then when people see bitcoin increasing they would buy bitcoin again. So, I don't see the sense of selling your bitcoin if you will buy it again when it increase.

[Akash1243]

I do think these drops which cause are good as many people can buy bitcoins at low prices again which many investors and users might be waiting for even though many people are there who just panic and start selling their bitcoins which is very regretful.Bitcoins have seen many quick ups and downs which scares people but bitcoins has always survived and will keep doing this.

[iluvpie60]

It wasn't Jamine Dimon who made any of this happen.

EVERYTIME we get to an all time high, the price retractswithin the same day(it did), then it goes down slowly over the course of a few weeks(it is right now).

This happens because the supply stays roughly the same, while demand drops. Demand drops because an all time high was hit and recognized by the masses who use it. So they start to sell, then the price goes from 5,000 to 4,800, the majority of people see that and understand they should take their profit while they can and sell, then down to 3,800 we go!

Once it finds support it goes back up, because the people who have USD that sold at 3,800+ are buying back in at the bototm of the dip.

2 weeks from now, same thing.

etc.

[X7]

This was China's news bro - for sure. Not an exec of a corrupt corporation stating his opinion while he pushes his competitor "Quorom"

Fraud.. lol... coming from JP that is cute

[Za1n]

I agree that the current dip probably has more to due around the uncertainty of the China exchange ban situation that it does with Dimon's comments, but everything does have an impact.

I attribute the drop to something like:

China Uncertainty (50%+)
Recent highs that needed correcting (30%)
Dimon comments (10%)
Other factors (10%)

[karabasss]

I agree that the current dip probably has more to due around the uncertainty of the China exchange ban situation that it does with Dimon's comments, but everything does have an impact.

I attribute the drop to something like:

China Uncertainty (50%+)
Recent highs that needed correcting (30%)
Dimon comments (10%)
Other factors (10%)

It seems to me that bitcoin did not need an adjustment. Its price went well up until negative news emerged from China. And then other factors were already connected

[crairezx20]

Well i think the panic is just a part of cryptocurrency so its a normal that we are seeing and experience of panic.. remember only this year we don't experience of any hack or down trading site that actually push the price down a lot. now we don't experience but we are experience right a big panic selling which is happen  from last few days . the price of bitcoin and altcoin is not decrease a lot compare to the news if there is  a hack big trading site..
And i think seeing the low price of bitcoin can give chance other new people to invest in bitcoin and have their profit in the future. .

[yoseph]

Now bitcoin fall down.so i think it is a little panics for me.

There is always a deep plunge before a huge surge, that's something that everyone must know, And i hope people are really not selling because some bankers are predicting doom and gloom about the cryptocurrency market, Why on earth will your opponent really say something positive about you. Bitcoin is their biggest threat and they are afraid.

[olushakes]

I dunno why too many people coming out lately and show hatred and not trusting btc. So many issues this week regarding btc maybe this is some reasons why btc price is falling but I dont care I see whats happening to buy btc in cheaper price and wait for the pump to get decent profit. Good I still have few bucks to buy btc.

The truth is that same people who  will sing your praises when the going is good won't think twice about ditching for something else when things are really not going fine again and that is the issue of facing bitcoin at this time where people are quick to panic and then sell immediately there is a crash like this. But for the believers, its just a time to re-strategize.

[cryptocortex]

I believe bitcoin is a bubble and one day it will burst. That will be a golden time for bitcoin buyers.

So you'd like to buy but the price is too high for you, am I right? If it really proves to be a speculative bubble nobody will invest in it after its burst.
Anyway, it's funny to see people who think BTC is a bubble register on a BTC forum, just to tell all investors and enthusiasts that they're wrong

It seems like that most of "this is a bubble" comments come from people with no BTC on hands but really jealous of other success. That said, panic can be good in any ways: it can definitely help to make players more mature

It actually looks like a bubble if you look at the chart in the linear scale, but what professional traders use is the log scale, and seeing this way the chart definitely doesn't look like a bubble.

Yeah, I think we were going too fast. But around $ 3800, Bitcoin is a bargain (If you're a long term holder, of course)

The reason people now are saying that it is a bubble is because the price of this digital currency just blow out to $4000 where it just takes 2 months do double the price. If you will be thinking about it, that is really fast but we are just thinking of this when the price drops and not when it is happening because we are enjoying the fact that we are earning a lot of profit.

As I said, they would be surprised if they see the chart in the logarithmic scale.

[Jose Mourinho]

Whatever the name of panic is certainly not good, this will make us unable to analyze correctly. we must think carefully and never panic no matter the bitcoin price.

[kenkoy]

This is good if you are true blue investor of Bitcoin. These FUD news can create panic to not so dedicated holders of BTC, they intend to sell. The price goes down which is good because we can buy a lot of BTC. We hold it and then when the news subside, the price increase again. Then you know who is the winner for this.

[poplolnman]

Now bitcoin fall down.so i think it is a little panics for me.

There is always a deep plunge before a huge surge, that's something that everyone must know, And i hope people are really not selling because some bankers are predicting doom and gloom about the cryptocurrency market, Why on earth will your opponent really say something positive about you. Bitcoin is their biggest threat and they are afraid.

yeah and that's really worth in the end. take the current situation as a golden opportunity to buy bitcoin cheaply of course by watching the market , not with a random guts to place your buy order . hold as long as possible , bitcoin has a lot of potential to grow. don't be regret later in the future when you can't afford anymore to buy bitcoin in a high price.

[JRoa]

I believe bitcoin is a bubble and one day it will burst. That will be a golden time for bitcoin buyers.

The price of the bitcoin is bubbled tday but I think it will surpass the problem and become a great again.

[ethereumhunter]

actually i am not to worried about the price, whenever the price is down i can handle myself. i think there is nothing to be worried and we don't have to be panic like others. like now, bitcoin is down until $39xx, many people is still panic and trying to sell their bitcoin because they don't want to loss their money value but if they can think for a long term, they will regret if they know that soon they price is recover.

[sammrheza]

i think for now market will follow china rate price , hope this will not take long time to recover 

[pooya87]

these panics are of course good and all and every one of us have always enjoyed the swings and the profits that come with them. but i can not say they are "all good". because there is also a big downside to these swings and dips, specially if they are big. and that downside is the fact that it makes bitcoin look bad and too volatile. people never like a highly volatile currency; not for investment, not as a currency. never.

[hypersonic1]

In all honesty I honestly believe this is a ploy to buy low and get people out of the market. it's sad.

[Gotomoon]

i think for now market will follow china rate price , hope this will not take long time to recover 

I do hope price will recover soon that value may increase again. This panic has caused to lower the price and thought that it may have no bright future. Some enjoys the the fluctuation and encourage to buy more to hold for a long term.

[Lorilikes]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

I love your analogy of the model T and the grandfather with his hand on the EBrake.
That's exactly the right way to describe some people with their Bitcoin stash. Click to
Sell through every bump in the road.  It's crazy.
Regarding Dimon, what a trained puts.  Just amazes me that that guy works for  JPMorgan
He practically IS JP Morgan.  He is the show pony of that entity and I honestly can't believe
More people don't find it suspicious that JP Morgan is in charge of funding for FOOD STAMPS. 
Finger on the oppression button much ?  Just a thought.
But I do agree a little bit of panicky times will prevent enormous crashes from cocky and arrogant carelessness.

[DoublerHunter]

This kind of the panic selling in the market is a great opportunity because we all know that there is a lot of people that wants to buy bitcoin from a cheaper rate then this is the right time for them to buy bitcoin and hold it for long term because in the next month, the market of bitcoin will recover and hit another all time high because this is the pattern that bitcoin has.

[Scorpion]

I felt the exact same way when I read the headline about what Jamie Dimon said about Bitcoin - I know people would be panic selling and I would buying up more crypto.

[Przemax]

In all honesty I honestly believe this is a ploy to buy low and get people out of the market. it's sad.

It is not sad. It is how free market works everywhere. If that is sad it is sad to be a proponent of a free market.

Corrections have exactly such a role as you have said.

[Beparanf]

In all honesty I honestly believe this is a ploy to buy low and get people out of the market. it's sad.

It is not sad. It is how free market works everywhere. If that is sad it is sad to be a proponent of a free market.

Corrections have exactly such a role as you have said.

Correction will always be part of crypto since number of uaers increases so there more traffics that making the delays that needs to be correct as well as the block and fees.

[Kakmakr]

I agree, we need to clean the scene from speculators who are pumping the price for their own profits. They are usually the first people running at the slightest bump in the road. They seldom lose any profits, because they buy low and trigger bots to sell, when the price reach a specific threshold.

After this cleansing process, you are left with the real Hodlers and pure Bitcoiners. ^smile^

[subSTRATA]

I agree, we need to clean the scene from speculators who are pumping the price for their own profits. They are usually the first people running at the slightest bump in the road. They seldom lose any profits, because they buy low and trigger bots to sell, when the price reach a specific threshold.

After this cleansing process, you are left with the real Hodlers and pure Bitcoiners. ^smile^

wrong, the cleansing process will never stop. as long as there is money involved, people will always be out to make a profit, and manipulating prices / market value through FUD , such as what we are seeing happen in the bitcoin scene as of late (although not necessarily FUD), is one of the more common methods in which markets are manipulated, allowing those manipulators, as well as bystander users, to profit off of fluctuations. of course, this cycle could be stopped, but only under one condition; if bitcoin became the universal standard of monetary value, ie, 1 btc = 1 btc. not the best way to phrase it, but as it is, the value of bitcoin is based on its value relative to the world's currencies, and thus, is vulnerable to market manipulation. assert it as the universal standard, and people will look elsewhere.

[Getbdnews]

Does people really think it is a bubble? It is the people who are controlling it. Those who are holding it for a long time are the one who can make waves. I cant believe people who are registered in this forum will think of bitcoin like that. Maybe they should try a stock market forum. They are on the wrong forum. This one should be all support for bitcoin and how to make it better not bash it.

Good talks bad talks brings flactuations in the market. The more flactuations, the more opportunities. Just to clarify it, I was not bashing bitcoin.

[LouVandetta]

Panic is a good thing, I think.
How can we separate from those emotions? Am I right?

In all honesty I honestly believe this is a ploy to buy low and get people out of the market. it's sad.

It's not quite right, actually. Things like these always happens.
It's hard to tell why the price down to earth real fast, it might be because of FUDs or else.

[skyline247]

The only people who benefit from panics like this are the good traders who understand how to buy low and sell high. If you aren't a good trader then you can kiss your money goodbye.

[iamMhew]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

yeah exactly you right, this is the most challenging and breath taking moment in bitcoin world so im so excited to what will happen next, but for me im in no worries to what will happens next, because most of the time bitcoin proved itself that bitcoin is decentralized, reliable and sustainable in terms of long term investment so why you got worries and do panicking your self to sell your bitcoin? instead of doing that, just hold your coin and we wait together what will happen next.

[RayvenPierre]

Little panics causes aome people to freak out and sell their bitcoin because they are thinking they would lose money. And most people that do this are those who are new to bitcoin. They think that they will lose the money that they invested to bitcoin which is wrong. If you're gonna invest something be prepared to have some losses at times before you gain profit.

[iram1011]

Bitcoin was appreciating in its value quite fast during past month.That wasn't a natural appreciation completely. Thus, corrections like one happened recently are needed for natural growth be it any commodity.

You are wrong in considering Jamie Dimon a Bitcoin noob. He very well understands what cryptos are. He is the CEO of one of the largest bank. Cryptocurrencies in one way or other are threat to these banks. Cryptocurrencies are still not really big a phenomenon and hence we might not see them as threats. But banks are very well aware of Cryptocurrency's future potential and are doing their best to spread panic among holders.

Regarding panic sellers. There are always some when it comes to a speculative assets.

[Mbah Djoko]

Yes true, a little panic makes a lot of profit, when bitcoin price drops to $ 3200, I buy about 0.75 btc and it's great that now the price has reached $ 3775 and it will soon reach $ 4000.

[chocolah29]

I felt the exact same way when I read the headline about what Jamie Dimon said about Bitcoin - I know people would be panic selling and I would buying up more crypto.

Well everybody that read that article will really think. But not all what we read is true or it's up to us if we believe these news. It's ok to feel panic a little, it's normal as human but what's not good is when panic eats you. You can't think right and you'll make decisions that can worsen things. As traders I think we should used to this as this always happen in crypto world.

[Flor1982]

Yes true, a little panic makes a lot of profit, when bitcoin price drops to $ 3200, I buy about 0.75 btc and it's great that now the price has reached $ 3775 and it will soon reach $ 4000.

Sorry for these panic people now that bitcoin is rising up again i just fell bad because i decided to buy a huge amount to add on to my hoarding if bitcoin will fall down at $2000. Now i buy so small with my capital because the price is suddenly increased again but still this is better than $4K. This value will goes up even more if China will lift the ban. Be on board before its too late again

[Harrisonimo]

They are definitely good coz how else will the market become fun? It avails people who are smart about the market to strategize and make the profit they want. And those who get really bothered the other way sell out too.

[jakelyson]

It is not just a little panic, it is quite 20% drop panic. But bitcoin is recovering now, that is good news. And if you see the tweet about jpmorgan in bitcoin, that will calm everyone and gain confidence again in bitcoin.

https://twitter.com/IamNomad/status/908831764457672709

[Pleione527]

Yes a little panic gives opportunity for many people who want to buy bitcoin. This drop makes some holder to sell their coins to cut their loses but in the end they will regret because they don't way fotmr the price to pump. It started to pump again so those who hold their coins like me are now celebrating

[tengek37]

Now bitcoin fall down.so i think it is a little panics for me.

I do not think it is necessary to panic, instead we should be able to take advantage of the decline in prices by making a purchase, this purchase will make the price back to climb back. and we can benefit from the increase.

[tengek37]

I believe bitcoin is a bubble and one day it will burst. That will be a golden time for bitcoin buyers.

I agree with your opinion because we can see the bitcoi enthusiasts are increasing, and will make the price higher because the law of demand and offer is valid here. so do not panic when bitcoin prices get corrected, because that is one way to attract bitcoin buyers. automatically when the bitcoin buyer increases, then the price will go up even beyond the price before the correction occurs.

[Idrisu]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

I have this view that  Jemie Dimon know the working principle of bitcoin but his comments is actually  pure act of attack against the system of decentralized economic and freedom. If traders especially the panic one keep reacting to comments like this in their trading decision and in effect cause bitcoin to reduce in value on the long run The elites like Jamie has gotten tools in they hand to control bitcoin. Hold is the best thing to do as to me bitcoin is not even in the bubble yet.

[ChristianPogi]

I haven't trusted bitcoin when I first knew it, and I had the worst mistake of my life. I could've been a millionaire by now, only if I invested my extra money when I started. So, I don't want to commit the same mistake. As much as possible, I wouldn't panic and just hold on to my bitcoin. It might go down a little, but the test starts here. Let's see what will happen.

Me too, I saw the price pf bitcoin way back December 2016, I think it was 700$ per bitcoin that time. This March 2017 I started to study bitcoin, the price is about 1300$. I regret of course, If I already bought some bitcoin on Decemeber 2016 and hodl it until now. I havr a bunch of money right now. But it's ok, I will hodl my bitcoins until the price is have enough profit for me Somehow I panic but, When I feel that I will shutdown my computer then sleep In order to control my emotions.

[Mike Mayor]

I think so too. It's a good way to stay on your toes. Flactuations like this are a good way to profit off of the Bitcoin Violitility.
So many people cry and moan. They seem ungrateful esspecially when they gain there bitcoin through work. The get a lot and then get Even more bit when it goes down a little they so greedy and whine a about it.

[digitalgame4life]

Little panics are good indeed, although this was not so much a ''little panic'' this was pretty big panic, unless you are a trader you could say that these are good, but for non traders this is pure FUD, its a shame these big players are FUDding in order to get them more power and coins altogether, the other way if you are not a trader would be to just hold because the future looks bright even after these panics, that ofcourse if filthy governments dont ban exchanges or investing in cryptocurrencies.

[Uberse]

. . . the future looks bright even after these panics, that of course if filthy governments don't ban exchanges or investing in cryptocurrencies.

To prevent fraud more and more governments will seek to regulate crypto-exchanges that accept and pay out fiat. As for mining, some governments may seek to end the taxpayer subsidization of the electricity that miners use for their private profit. That would seem reasonable  -- if they can find a practical way to enforce such a ban, especially since mining will probably become more and more decentralized. The problem is that lots of profitable enterprises use taxpayer-subsidized electricity. Taken as a whole, it may be that even all the bitcoin miners in China use a comparatively small amount of power and are paying (or eventually will be paying) taxes on their earnings. As a constitutional matter of law (although this would only apply to Western-style democracies) I don't see how data-hashing itself could be banned. And anyway, governments will probably start using Bitcoin themselves to save time and money. They might have their own proprietary 'permissioned' blockchains but will eventually discover that they can also use the Bitcoin blockchain to register their own hashes as a way to achieve absolute security at very low cost.

[iL_P4driNo]

I think this panic will help some beginners to buy and make some profit to begin.

[daronch]

It happens once in a while as the concept of using cryptocurrencies is still in its infancy. But I think it will happen less and less as it gets more mainstream and accepted by society at large.

[Siren]

Any price correction is healthy to the ecosystem. This panic has caused a lot to sold off their coins causing it to fall at around $29xx. But for others, this is a good buying point. Read all about JP Morgans, they are one of the biggest buyers of bitcoin in this floor price. They took advantage and manipulate the price into their favor so that they can buy in this panic and dip. As for us, casuals it is also a good opportunity to enter the market and buy and hodl if for the long haul. In a price correction, its better to hodl and not sell otherwise you will lose your investments.

[phr0stbyt3]

It is good many people are waiting for the price to fall including me unfortunately i bought some at 4000$ but i still had some funds left as we are smaller investors it doesn't matter we mainly don't control the price these panics are good for people who are waiting to buy but after these panic the altcoin market also falls that's the negative side of this

[the-doctor]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

I totally agree, thank you for this post. Sometimes even experienced holder can go trough hard times with this huge market drops. I am strong beliver in crypto and learned to hold after selling at bottom experience with loss which hurst but gives a proper lesson.

[unbotak]

Any price correction is healthy to the ecosystem. This panic has caused a lot to sold off their coins causing it to fall at around $29xx. But for others, this is a good buying point. Read all about JP Morgans, they are one of the biggest buyers of bitcoin in this floor price. They took advantage and manipulate the price into their favor so that they can buy in this panic and dip. As for us, casuals it is also a good opportunity to enter the market and buy and hodl if for the long haul. In a price correction, its better to hodl and not sell otherwise you will lose your investments.

This is a common thing, but small traders will get caught in the losses because they depend on bitcoin to pay for their life needs, there is no other word than to sell in a state of panic because they have to get the funds and make a cutloss of bitcoin. I was one of those merchants, I tried to be calm, but still experienced a tremendous panic.

[BlueStackz]

Does people really think it is a bubble? It is the people who are controlling it. Those who are holding it for a long time are the one who can make waves. I cant believe people who are registered in this forum will think of bitcoin like that. Maybe they should try a stock market forum. They are on the wrong forum. This one should be all support for bitcoin and how to make it better not bash it.

Good talks bad talks brings flactuations in the market. The more flactuations, the more opportunities. Just to clarify it, I was not bashing bitcoin.

That is very true. You have actually given shape to my thoughts. Indeed, the dump phase works as a separator between the real bitcoiners and the fake ones. However, I am actually thankful to those who perform panic selling. Due to these people, the pure bitcoiners can grab more BTCs.

[Maddinson100]

Yes true, a little panic makes a lot of profit, when bitcoin price drops to $ 3200, I buy about 0.75 btc and it's great that now the price has reached $ 3775 and it will soon reach $ 4000.

Sorry for these panic people now that bitcoin is rising up again i just fell bad because i decided to buy a huge amount to add on to my hoarding if bitcoin will fall down at $2000. Now i buy so small with my capital because the price is suddenly increased again but still this is better than $4K. This value will goes up even more if China will lift the ban. Be on board before its too late again

Not only $4000 but will jump to previous it very soon. Little jumps are so amazing that they give chances for trade to buy more bitcoins. As earlier fortnight, it was so difficult to buy bitcoins the prices were so high and now see the buying prices are getting down. Chance to buy and definitely buyers will avail it.

[Lumada]

Yes true, a little panic makes a lot of profit, when bitcoin price drops to $ 3200, I buy about 0.75 btc and it's great that now the price has reached $ 3775 and it will soon reach $ 4000.

Sorry for these panic people now that bitcoin is rising up again i just fell bad because i decided to buy a huge amount to add on to my hoarding if bitcoin will fall down at $2000. Now i buy so small with my capital because the price is suddenly increased again but still this is better than $4K. This value will goes up even more if China will lift the ban. Be on board before its too late again

Not only $4000 but will jump to previous it very soon. Little jumps are so amazing that they give chances for trade to buy more bitcoins. As earlier fortnight, it was so difficult to buy bitcoins the prices were so high and now see the buying prices are getting down. Chance to buy and definitely buyers will avail it.

We just need to wait when the prixe dalls down so we can grab the opportunity to have more btc, we should have patience and have enough time to save some to buy more when it drops.

[Farquit]

For now, I nothing to worry about because I have no btc yet and trying to earn. We just need to wait until prices drops. This little panics  allow many people to buy bitcoins. If bitcoin decreases, many people decided to sell their bitcoins in order to stop the losses but they must know that in the end, this prices will increase a little much higher than previous price.

[JTASSOCIATES]

My opinion is Don't panic until it is very emergency you sell otherwise book the profit. Near future we are going to face the recession again like 2008 in 2018 that's the time will deside what and how Bitcoin going to back up the global croypto currency domination.

Waiting for the moment of right correction and play carefully. Nothing is constant in this world so we should not panic let it to as it is and do our level best in focusing for better future.

[iram3130]

The small panics are definitely helpful to spread Bitcoin for more population. As far as I have seen, there is always someone on the corner of the road to join the crypto revolution.

[ccowl]

Panic is good for investors and long term holders, but it isn't good for people who want to use bitcoin as cash. Stable price will make BTC more mature and usable as cash.

[vadimkavp]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

My message

[Loveydovey04]

I dunno why too many people coming out lately and show hatred and not trusting btc. So many issues this week regarding btc maybe this is some reasons why btc price is falling but I dont care I see whats happening to buy btc in cheaper price and wait for the pump to get decent profit. Good I still have few bucks to buy btc.

I am a little skeptic as to how these personalities degrade bitcoin lately. I am suspecting that they are having a personal motive for doing it. I was think, if they degrade bitcoin, will surely fluct down in price then a good opportunity for them to invest if it is a lot cheaper now but i dont think their negative comments will reduce bitcoin's value to zero.

[pitiflin]

I swear I was able to reinvest in cryptos because of the crash that bitcoin conceded which was followed by the other cryptos, well even though it's kinda selfish, IRL it's every man for himself like it or not. Even though everyone says to hodl, a very few people follow it because they will sell first and then buy back bitcoin again, that's how people's minds work.
BTW it's great that bitcoin will face these crashes and recover again, it will gain the confidence of people who understand on how market works.

[Don Pedro Dinero]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high... Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

I totally agree with you and I want to thank you for the post because in the “Bitcoin Discussion” section we get very low quality initial posts, usually due to newbies.

As for what you comment, I would go further: the fact that an asset is overpriced in a certain moment doesn’t mean that it is a complete bubble and that it is going to blow up going down to zero value. Assets are usually overpriced and underpriced. Good investors buy underpriced assets and sell them, at least partially, when they are overpriced. Bad investors, however, do the opposite, they buy when they hear that an asset has reached an ATH, or some consecutive ATHs, and, when the natural correction comes, they panic and sell.

When btc reached 5.000$ I started to think that it was going too fast, so what has come afterwards seems to me a natural correction. If you have done your homework, that is, researching about bitcoin and knowing why you are investing in it, what you have to do when dips come is hodl.

[MoneyIsDebt]

It happens once in a while as the concept of using cryptocurrencies is still in its infancy. But I think it will happen less and less as it gets more mainstream and accepted by society at large.

it is really helpful for the traders who are looking for the short term profit. at the time of this type of panic people who are regular trader buy at low price and sold when the panic solve. it has also a drawback for short term traders who have invested in it before panic but for long term it doesn't really matters.

[Fredomago]

It happens once in a while as the concept of using cryptocurrencies is still in its infancy. But I think it will happen less and less as it gets more mainstream and accepted by society at large.

it is really helpful for the traders who are looking for the short term profit. at the time of this type of panic people who are regular trader buy at low price and sold when the panic solve. it has also a drawback for short term traders who have invested in it before panic but for long term it doesn't really matters.

Swing trading might be for the people who understand how the market works most of them are just waiting for the whale movement and grab that opportunity to ride with it, there's still a lots of newbie who doesn't understand the hyped and corrections they needed keep studying the flow so they won't hurt their pockets.

[Ucy]

Their opinions don't bother me to much.. .
Whether price is up or down, good profits would still be made and Bitcoin will continue to be great.

[hatshepsut93]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

True bubbles happen there's too much unrealistic expectations which isn't the case with Bitcoin - the technology is sound, it has been working for 8 years already, it is revolutionary and it can be very useful. All this can be a base for some pretty good value, like $20,000 per coin in a next year, so we are still very far from the bubble territory. Dips will happen from time to time for various reasons, it's the nature of the market, but overall trend is what's important, and right now it's still healthy.
As for hodling, you don't have to only hodl or only trade, you can easily do both at any proportion you want, if you feel like you are good at trading you can trade with 20-30% of your coins or even higher, if you are a newbie, you should do it only with smaller amounts and less frequently.

[carriebee]

Their opinions don't bother me to much.. .
Whether price is up or down, good profits would still be made and Bitcoin will continue to be great.

Dont panic when investing in bitcoin as some says ride wih the train. If holding for a long term will give you a good profit. And sometimes little panic is good and grab the chance to buy back and hold for a profit decision.

[Fatunad]

It happens once in a while as the concept of using cryptocurrencies is still in its infancy. But I think it will happen less and less as it gets more mainstream and accepted by society at large.

it is really helpful for the traders who are looking for the short term profit. at the time of this type of panic people who are regular trader buy at low price and sold when the panic solve. it has also a drawback for short term traders who have invested in it before panic but for long term it doesn't really matters.

Swing trading might be for the people who understand how the market works most of them are just waiting for the whale movement and grab that opportunity to ride with it, there's still a lots of newbie who doesn't understand the hyped and corrections they needed keep studying the flow so they won't hurt their pockets.

Swing trading or Hedging would really be complicated specially on newbies since they dont even know on what are these kind of trading styles which are really complicated but later on they would eventually know those styles which is really hard and risky but really a profiting kind of way if you do it correctly then expect you can make good money on it.

[Palmerson]

Everyone who panics always lose. I have a question how you lived before we knew what is bitcoin? Why is now such a panic if bitcoin falls in price. In fact, no one is losing money. Losing everything is only hypothetical profits. If you hold bitcoin then this year you will receive a profit of 200-400 % Is that enough? Just a lot of greedy people.

[Chrystora123]

lol, when I explain about bitcoin to people they do not understand, because most of them do not want to know and do not want to know, and the average of them is less interested in technology, maybe the same as JP Morgan CEO, lol

[swscowods]

The small panics are definitely helpful to spread Bitcoin for more population. As far as I have seen, there is always someone on the corner of the road to join the crypto revolution.

Panic is not good at all and panic causes loss so stay calm and hold if price is down good days will be ahead, in other senses small panic are good because it welcomes new investors and new investor mean rise in price so not to worry about the dumps these are also favorable when dump occurs buy as much as you can so that you can secure profit with both hands,

[audrey12]

I agree with this sometimes a sudden drop is good because after that a rewarding pump takes place and if you panic right away you would have sell all your bitcoin because you are afraid of losing so much but the truth is you lost because you did not trust bitcoin only to find out there's more to come in the coming days. Bitcoin is unpredictable but it is always a good investment to take.

[stepwilli]

Their opinions don't bother me to much.. .
Whether price is up or down, good profits would still be made and Bitcoin will continue to be great.

By seeing such dramas in the past, I was also not affected by all so called bad news this time. Bitcoin has survived through much more tough time when it had small number of users comparatively than present.

If someone will stay calm during the dip then definitely he will be earning much more amount in future. Also, dip is the golden chance to increase the total amount of BTCs so it is a good thing.

[beBearKing]

They prevent Bitcoin from becoming a true bubble, which would be disastrous. The level of incomprehension regarding Bitcoin is still very high. Jamie Dimon's recent comments show that, like Warren Buffet before him (as of a few months ago anyway), Dimon has no knowledge of how Bitcoin functions as a crowdsourced, decentralized, economical, sustainable, and fast method of immutable data-registration. If these guys don't know, it's a given that lots of recent easy-money chasers don't know either. A friend of mine says his grandfather was taught to drive a Model T by an elderly uncle who sat in the passenger seat with his hand on the emergency brake and yelled Whoa! Whoa! if they went faster than a trot. That's how a lot of people hold their bitcoins. They sit with their hand on the mouse and yell Sell! Sell! at the first hint of trouble. But that's good. Bitcoin can never become a bubble that way because it won't get high enough fast enough. It will slide and even crash from time to time, but since it has real utility (as opposed to tulips --- and the liar loans Dimon's company, J.P. Morgan, was fined $13 billion dollars for selling) Bitcoin will continue to climb after Buffet and Dimon have had uninformed say and momentarily clogged the exits with butts and elbows. As for rumor-mongering China, Bitcoin's Long March will continue there too.

Just sit back and hodl. If you can't hodl here, you are in the wrong game. Try the stock market.

I like reading posts from the past, relatively optimistic bitcoin. Do not get me wrong - I believe in bitcoin. But I do not believe in those who see in him only an asset for the discussion.

As we know today, China has already banned bitcoin in its jurisdiction. I think that if people develop bitcoin and not spy on the course, then we do not expect a collapse. And if most of the transactions become a speculative then the collapse is inevitable.

[GreatOrchid]

I agree with that, i dont pay too much attention to the price chart all the day, because i am online for 7 hours max, but there is always a moment in the whole day that the market is in red, and this is because of the panic selling. And this is a great opportunity for those who wanna buy at a reducted price, it is good if you see it in an optimist way. But you are right, without panic times , the price would always be higher, and that is not healthy for the price

[Irvinn]

Yes, small panic attacks are necessary. The alarmists sell their bitcoins and leave. In their place come people who understand the nature of the crypto currency. From this, the crypto currency will only win. The volatility of the crypto currency will fall, as the panic will decrease.

[CisColtz]

Welcome to the panic rally , after you get a few rides you will get comfortable with it and you can speculate the panic and when and what to buy and when to sell , just an opinion .

[salihno71]

When you talk about the famous names from the financial world and their comments about the bitcoin, you have to remember one thing: those are the people who are the rulers of their own realm and they believe that they totally control the situation. So now, something new shows up which they don't fully understand, because it's essentially different from what they're used to. So they comment it from their own point of perception interpreting bitcoin with the terms that they know. 

[stomachgrowls]

It happens once in a while as the concept of using cryptocurrencies is still in its infancy. But I think it will happen less and less as it gets more mainstream and accepted by society at large.

it is really helpful for the traders who are looking for the short term profit. at the time of this type of panic people who are regular trader buy at low price and sold when the panic solve. it has also a drawback for short term traders who have invested in it before panic but for long term it doesn't really matters.

Swing trading might be for the people who understand how the market works most of them are just waiting for the whale movement and grab that opportunity to ride with it, there's still a lots of newbie who doesn't understand the hyped and corrections they needed keep studying the flow so they won't hurt their pockets.

There are really different kind of traders and different kind of ways on how to execute trades this thing would really vary into their skills and knowledge and since you do mention about swing trades then for sure it is really a hard one.You would most actively see moving prices on constant basis reading up news or updates on a certain coin so that you would able to ride the price flow depending on what direction.

[BeerPanda]

You shouldn't panic. Because if btc fall it's great opportunity to invest your money again

[Osarman]

You shouldn't panic. Because if btc fall it's great opportunity to invest your money again

In a sense a little panic is good for those people who are joining now because the panic control the extreme rise in the price for a little time and in this new participant/stakeholders will find a chance to get/buy bitcoin in low price otherwise if panics are not block the rise in bitcoin price then the price will come high as much not to be affordable and only rich would be able to buy bitcoin in future.

[thet]

I guess its the normal thing when the price of BTC is down the tendency is you will feel so worried about your investment specially if you put all your investment in BTC.

[buwaytress]

Swing trading might be for the people who understand how the market works most of them are just waiting for the whale movement and grab that opportunity to ride with it, there's still a lots of newbie who doesn't understand the hyped and corrections they needed keep studying the flow so they won't hurt their pockets.

Swing trading or Hedging would really be complicated specially on newbies since they dont even know on what are these kind of trading styles which are really complicated but later on they would eventually know those styles which is really hard and risky but really a profiting kind of way if you do it correctly then expect you can make good money on it.

I'd be very careful about looking at "little panics" like these as swing indicators. Swing traders already find it incredibly difficult to identify movements in traditional markets, never mind the Bitcoin market that seems to defy every known and accepted trading convention. The market simply hasn't matured enough to be able to "work" on its own.

I've probably been right about half of the time when predicting corrections on Bitcoin. And since touching $5,900, the correction hasn't been as massive as I'd expect, given the ones of the previous.

[paolo099]

the panic didn't last much, price is keep rising since yesterday and now we're above 6k$, i guess it will kill rise until 25th, then nobody knows what can happen.
There would be a fisiologic drop but then it will steadily rise hiw way back

[izumaki]

governments are responsible for the abject poverty in the world and people like dimon are no good to the economy of the states, if you know how much crypto currency have helped people in Africa establish their life and are surviving in it, then you would be greatful for seeing this invention in your life time, am proud of Bitcoins am proud to hold them

[Nerman]

In a way I agree that somehow when there are little panics it is great especially for people who truly believes on bitcoin. Every time Bitcoin drops it is a good opportunity for long term and short term holders to buy. Panics are very common on all market not just crypto currency but the what i find amazing is Bitcoin recovers almost right away, within a few days we are around $5900 area. 

[Chyton]

Historically a little panic is good, but a big panic is never good for long term growth of something in the world.
Anything that goes up will goes down eventually and anything that goes down will float back up eventually, usually a long term growth over something is always positive so we should look at the long term growth of bitcoins and cryptocurrency, not just sudden pump and dump in price.

[lombok]

many people are taking advantage of the panic ,, we can see it when china forbids ico. many people panicked and ended up selling cheap bitcoin and now bitcoin even bounced higher ....