Little panics like this are good

[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.