The Bitcoin CRASH is coming!

[PricklyPear1]

Really are the sentiments identical? I see more bearish threads than bullish ones?
Right now on ths board 70% of the new topics today are on predicting when it will crash and by what percentage it would crash down to.
Was it really like this in 2013?

If you read back into the Wall Observer you will find what I am talking about (as an example). Every run up is essentially the same. While the price may differ and the ecosystem may be becoming more mature with each new price bubble, human nature has not changed.

While diverse, most Bitcoiners can be separated in into a few common categories: HODlers, Mooners, Permabears, miss the boat FOMO types, etc. Each time the price explodes you get waves of people who believe this is the big one that will be all end all, the ones who believe that it will never touch the basement levels again, those that think it “can’t go that high,” those that believe it's a speculative bubble driven by (insert random Chinese exchange, some new law, massive adoption, institutional money, etc) and then there are the few and mostly silent that understand basic human instincts drive and are influenced by what is going on.

I’m not sure where some individuals 'learned’ the belief that the financial sector can growth exponentially indefinitely... Understanding humans are heavily influenced by sentiment allows you to understand the predictions being made by some people in these forums. Bullish/Bearish, these things only matter with regards to sentiment. Instincts dictate behavior while sentiments influence instinctive behavior.

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[EvilGTV]

The big problem I see is that BTC is the reference for all other coins...  If an altcoin peaks in a bubble, and starts to drop, no problem, sell it for BTC, and switch to another coin or hold the BTC, and your profits are safe.  But if BTC drops, the only option to keep the profits is to convert to Fiat.

For those holding altcoins, all of which are referenced to BTC, their prices are nosediving as everyone switches to BTC, and many have lost a little bit (some a lot) of value in Fiat over the last few months.  If BTC crashes to say 25% of its current price, it doesn't just affect those holding it - it affects anyone holding any coin at all - and I'm not so sure that the altcoins will regain their value in Fiat if that happens...  

In other words, the way I see it at the moment, BTC goes up, and the value of the crypto market as a whole creeps up, but only due to the rise in BTC as the alts fall every time BTC goes on a run (I assume from people switching to BTC).  If BTC goes dramatically down (loses 50% for example), the entire crypto market drops 50%...  I just can't see BTC holders jumping into altcoins to avoid a loss when the value of those altcoins is measured in the very currency they're trying to get out of.

[youngagethinker]

Today is the 7th of December 2017, a remarkable day where the Bitcoin price has gone up and is currently worth over $14,500 USD.

Many altcoins are down in value as holders of these altcoins sell them and buy BTC instead - it sounds so promising, BTC is the future, the rest is not.
However as site owners who pay our members in BTC and also run a Ripple Faucet (Link: https://bitcointalk.org/index.php?topic=2436732.0) we have to express our opinion about all this Bitcoin hype. It has now entered into an extremely dangerous territory and let us explain.

Rule of Thumb = World Economy is Based on Trust

The issue with Bitcoin is that currently so many people "invest" in it, in a sort of a "rush train", everyone wants to hold 1 BTC, one of the 21 million BTC out there (Bitcoin is capped at 21 Million BTC). The 21m is not a problem, one dollar in some random country can be worth 1 today, 0.1 tomorrow, 0.001 next day, that's not a problem.

The problem starts when people need to use Bitcoin as form of payment and not only for speculation ... holders of BTC yesterday or today would hesitate in paying with BTC because they worry about price fluctuations - and so is the receiver ... if we get paid $100 from CoinTraffic for ads we placed in our faucet we feel "bad" we get paid in BTC today because yesterday it was worth more.

And this cycle creates a problem of TRUST.

So why Bitcoin goes up?

Bitcoin is going to be traded in several stock exchanges very soon. Those who believe that "sharks" or "whales" wait for the day of opening and then start buying or trading are only fooling themselves.

When Facebook firstly launched itself on the stock market - the stock plunged and plunged and no one could explain it - just like today no one can explain how Bitcoin went up so fast - according to ZeroHedge:

http://www.zerohedge.com/news/2017-12-06/bitcoin-explodes-above-14000-korean-pm-fears-serious-pathological-phenomena

$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 4 hours

It went up from $9000 to $14,500 in less 2 weeks!

Bottom line:

If this doesn't create an issue of trust - then we're all living in a bubble.
The fundamentals of Bitcoin are great, but what we experience nowadays is exactly the opposite, and that's because we're all human beings and we lost trust in each other, we created central banks we don't trust anymore, we created a financial system that we can't trust anymore - and unfortunately Bitcoin is heading towards that territory as well.

PS Just like Steam expect many to consider the stop of using Bitcoin (we might as well) due to price volatility and high fees as these are simply not suitable for many businesses neither.

We are all enjoying the ride, if what you are saying is that BTC is based on trust, then how about those people who just want to ride? They don't trust i just want to feel the waves coming and they are all enjoying that.

We all know that if ever the blockchain is somehow can be hack, the this is the end of cryptocurrencies, all trust are denied and no one will use the blockchain anymore, but if we don't trust this system who can we trust> ? What can we trust. We already know that they are just making money from us (the fiat system) still we can't do a thing, we don't trust them anymore but still were using fiat?

This is not an issue of just trust anymore. Everyone wants freedom and let have them a taste of it even if we don't know how long this will go. And most of us are okie with that.

[ChinkyEyes]

Bitcoin is going to be traded in several stock exchanges very soon. Those who believe that "sharks" or "whales" wait for the day of opening and then start buying or trading are only fooling themselves.

There seems to be some confusion about this. Bitcoin IS NOT going to be traded. Bitcoin is just going to be the underlying "asset" being traded on futures. All the trading shall be done in fiat. So, whales do not need to buy anything, as they'll open and settle the transactions is fiat.

OTOH, a price pump and then subsequent dump opens the possibility for very profitable short positions in futures. However, it only makes sense if at the time of the contract the BTC value is HIGH. So, if a manipulation is being conducted, the crash is profitable only if it happens after the futures start trading and contracts are exchanged.

But any position must have an opposing buyer. So another whale must get stinged if some whale is going to make money on shorts. Therefore, some whales may think just the opposite and open long positions. Entraping whales wanting to short with the current pump, then going for another pump.

All's swell since bitcoin markets are not regulated and price manipulation is not illegal. It is therefore hard to predict that futures will trigger the crash. It may be the opposite.

Most people seem to lean towards going to short Bitcoin once the futures are available. I personally think the price will keep on growing for a while and then a huge dump occurs. For people who own a lot of Bitcoin it will be easy to manipulate the price with a huge sell off while going short. And of course buying back a lot cheaper later.

[Mdt123]

Do you think it is crashing? Wall street and South Korea stop future trading. Steam stops bitcoin payment. Nicehash was hacked. All bad news for bitcoin. Bitcoin dropped from $16900 down to $14490 at this moment. I dont know if the correction/crash is happening.

[Cicero2.3]

Meh it's a correction. The ecosystem of bitcoin is not ready for this kind of action yet. That's why we have exchanges going down and 200k+ transactions waiting for confirmation. I suspect it might go to 12k then sideways for a while.

[ipanks]

I am not sure about this and I only hope that this is the correction of the price because we see the price moves so fast. we can get prepared to buy bitcoin when the price is really crash and hold for a while and waiting the price is back increase. I think many people are getting stuck at a high price because they are buying bitcoin when it is in the top price. I think we need to wait for a while and don't be too worried if the price is down.

[Clairvoyance]

It's better to have a correction first than crash all of a sudden. Sudden crashes scare away new investors and it can hurt the market. Since the large fraction of price surge came from new investors they will tend to pull out if something goes wrong.

[Mdt123]

It's better to have a correction first than crash all of a sudden. Sudden crashes scare away new investors and it can hurt the market. Since the large fraction of price surge came from new investors they will tend to pull out if something goes wrong.

Agree. Those newbiees dont understand this nature of cryto and tend to think it wont be back up.

[Quietman]

I hope not. But still it is hard to predict the future prices of bitcoin.  If today the price has reached the amount of $14,700, i hope there's only correction on it but will continue to rise until next year 2018.  I just sold bitcoin awhile for a price of around $14,500, so it was a good profit because I bought it when it was costing at $3,600 only.

Wow! You've already got a big profit right there. It is now 4x the price on the time you bought it. Nice move. And yeah, the price is very unpredictable. The delayed correction is still happening I guess. So the price might still decline though the impact is not that big. Hopefully this happen soon.

[yenimailb]

The Bitcoin CRASH is  not coming...
IF YOU BELIEVE OR NOT Bitcoin price will be $70.000 end of 2018.

I KNOW YOUR PURPOSE
 WHEN BTC PRICE DOWN  YOU WILL BUY BTC....
DO YOU THINK PEOPLE STUPID???

[Osarman]

Many people got FOMO'ed. The increase does not make any sense, No one with a sane mind would Invest right now maybe at 10K could be the possibility. A pullback to 9k is expected, but I'm not sure when. In my opinion, people who bought at 12K+ is straight up gambling not really trading or investing.

bitcoin is hard to predict. I think prices will fall, but i think only stop at $ 10000-12000. profit when buy Bitcoin last month to this month is an extremely large number and of course, the shark will sell them for profit have exceeded that goal even exceeding the target. Investment in 12k not really is straight gambling. if the long-term investment now is still a good time

How much crash will happen dude, people are now in the situation to get from the minute crash and all this is just because that many of them have missed the chances to earn at the lower prices and the investor who have invested at the right time are against the crash because they want that their profit come to them faster so that they can earn and spend their money on them but the fact is bitcoin is still unpredictable.

[sgenuine]

i hope bitcoin doing correction first. bitcoin price is currently unexpected. profitable for old investors who's holding bitcoin. but for newbie who begins to deposit its very heavy. 

Yeah might be a problem for them and maybe theyll doubt it more cause of that dip and pump. Hoping for a good correction of bitcoin so i can relax a bit. Cant relax with a wopping $15000 value of bitcoin for just a day it rose up to $1200 for the day. Imagine that.

I can understand the speculations of the author. many of us are simply scared that it can be crashed. However, BTC has not yet reached its maximum.

[Denker]

Many people got FOMO'ed. The increase does not make any sense, No one with a sane mind would Invest right now maybe at 10K could be the possibility. A pullback to 9k is expected, but I'm not sure when. In my opinion, people who bought at 12K+ is straight up gambling not really trading or investing.

Really?
Big guys with deep pockets who know this thing could reach $50k-$100k in 2,3 or 4 years easily will definitely buy at actual prices.
Especially as they all know that institionals will be able to enter the market with beginning of 2018!
For the average joe these prices right now seems to be insane, but I can assure you in 5 years you gonna see a total different, way higher number, in terms of price.
Bitcoin is an empty storage tank with a highly deflationary effect due to it's extremey limited supply, meaning it's scarcity and the game theory aspect.
While the rest of the global markets is totally messed up and highly inflated due to crazy QE. And think about the negative interest rates. Bitcoin gave you in the last 8 years a crazy ROI per year. Incredible performance! What do you think portfolio managers are looking at right now?!!
I could write a text of wall why it is not crazy to buy $10k! Do some more research, try to grasp the bigger picture, the markets Bitcoin will have an extreme impact on, from monetary, technologically, geopolitically as from a social point of view.
This is a global game changer. And not a fucking stock or bond! By the way have a look at these markets and how big they are. And then think about how much Bitcoin could suck in from there! Even with a trillion dollar marketcap Bitcoin would be tiny!!