60 Billion Wiped Off in One Day - What's Next?

[Barbut]

I always find it hilarious when the market fly up 20%. No one complains or gets scared. And then the market will go down 10% and people will freak out, even though it is still up 10% over that extremely small amount of time. ETH is at $400-420 and BTC is hovering $10k still. No need to get scared or complain. Profit take like everyone else and get a better position, or hold.  

Hahaha well said pal you could not be more right because I always find that hilarious too. Disregard the 50-100% moonshot that literally just happened the past month or two....freaks out when losing 15% of overall value. It is like look at the big picture please and you will see everything is fine we are on track and had an insane year still growth wise.

This people who post this topic's always have some strange arguments about bitcoin crash. I agree that is funny fact how much bitcoin price raised from beginning of this year until now, but still some people shake and created unnecessary panic after few hundred dollar's drop. I noticed your two comments and I found more logic in this two comments then in what op wrote and his headline. I think little correction doesn't bother anyone, this happened before and will happen again. Profit and finding better position to enter again, or just hold are two good options and people should be aware of that, there is no need for any big concerns.

[setifien19]

I do not know why most of bitcoin holders have an unjustified worries about the price fluctuation, every remarkable change (wether positively or negatively) makes a kind of an online noisy ( x10... posts talking about) in the time that they all know that instability is a major character of such market

[HabBear]

"60 Billion Wiped Off in One Day" is totally misleading.

The bitcoin that represents that "60 Billion" hasn't disappeared. People need to stop focusing so much on market capitalization. It's only a measure of valuation comparison between to like entities (two companies). It's not even a good comparison for currencies, but technically it works.

What's Next?

Just another day in the world of cryptocurrency - no more, no less.

[BADecker]

The problem is for merchants who sell products via Bitcoin. If they sell a product at the peak of an upward move, they have to sell it for the exchange rate or nobody will buy. Then, if they don't convert Bitcoin to cash immediately, when Bitcoin dumps, they have lost money.

[bling-bling]

Chaos in Cryptoland as Bitcoin Crashes, Exchanges Lose Power and US Government Issues Demands
https://coinblip.com/blog/chaos-cryptoland-bitcoin-crashes-exchanges-lose-power-us-government-issues-demands/

Fed's Quarles warns that bitcoin poses 'serious financial stability issues' as it grows
https://www.cnbc.com/2017/11/30/feds-quarles-warns-that-bitcoin-poses-serious-financial-stability-issues-as-it-grows.html


What is next for the cryptoland? Is this the beginning of a big market correction?

All part of the game! Rise and falls, pump and dump, hype and crash...old common things which many don't seem to get used to and still panic when things seems to go bad. Chill and relax I would say..Just enjoy the ride, but with vigilance. 😉

[chacha66]

This happens over and over , and every time it does people say the same thing. This is it-   It could be , but thats doubtful.
Consolidation then slow move back up 

[damrianto]

this is just the wrong news in one day 60 miliars can not be deleted. bitcoin is not a market that is held by one individual this happens because bitcoin and cripto market is more profitable than other market. bitcoin can reach USD 10k in this month. this is the power that trades bitcoin which always benefits the investors ..

[Virtual miner]

Just to make you remember the correction you were talking about has still not come but a big boom has surely arrived. Bitcoin which was nearly 11k when you posted it has reached to 16k breaking all the previous records yet again and I think bitcoin will reach 25K by the end of this year.

[BrewMaster]

Just to make you remember the correction you were talking about has still not come but a big boom has surely arrived. Bitcoin which was nearly 11k when you posted it has reached to 16k breaking all the previous records yet again and I think bitcoin will reach 25K by the end of this year.

OP was probably hoping for a drop 9 days ago to be able to buy in the dip, that is why this topic looks so much like an FUD and not much discussion can be found in it after the dip didn't happen and instead price went up to set some new records

as for your 25k, i am no so sure. and i am mostly hoping it doesn't happen. that is a ridiculous rise for this year and it is not going to be a healthy rise. the bear market that can be created because of it is bad.