Bitcoin is still up over 50% over the last month so why the panic?

[omonuyak]

The way traders and investors are dumping bitcoin in the  present of this high fees is alarming and I think we should reduce panicking as many are selling without thinking what is really happening. Bitcoin has dropped significantly in the last three days and this represents about 25% and this will definitely going to make unlearned to sell of their coins. I think the dump Will stop when bitcoin get to $10,000.

[BartS]

Bitcoin's price is still up ~50% from the 20th of November and yet everyone is panicking, why?
Here's the chart:

This clearly shows that Bitcoin was about $8.2K 30 days ago. Current price is still 13K.
From now on even if the price drops to a whopping 10% of the current price, a 90% drop that is, it would still be higher than the price at the beginning of the year.

I think the panic comes from the fact that the volatility has been extreme in this month, we have seen this behavior from bitcoin before, but now the stakes are higher since the price is way higher as well, so before when we saw volatility like this people lost just a few hundreds of dollars, now with the same volatility investors are losing thousands of dollar per bitcoin, and the more bitcoin you have the more exposed you are to these movements.

[STT]

The obvious answer is the numbers are big.   If the majority of a market rests on the shoulders of those who are quite humble in their wealth, then we may stumble.    This market overall needs to develop and they need to fix the transaction fees right away, its not a theoretical problem it will feedback much sooner as most people are not rich enough to carry this without BTC seeing problems overall

[Wayan_Pedjeng]

No one is panicking. And we have to remember that Bitcoin Cash has increased its price by almost 800% during the last few weeks. I am holding almost equal amounts of BTC and BCH, so my losses from BTC were partially compensated by the gains from BCH.

[dewi91]

yes, your opinion is right may be a lot of people forget about it because bitcoin ever reach up to 19k in the last week.. they are worried if bitcoin price continue to down, especially if they buy bitcoin at a higher price than now, it is reasonable if they getting worried..

[sofi@]

Yes its true we started this year when the price of bitcoin was around $3600 and now even bitcoin price drops we still have $13000 and that's really far from 3600. Only shows that we should be thankful and contented. Bitcoin value will still goes up maybe on the opening of 2018 for now lets enjoy the drop and grab the opportunity to invest so that we can have a more prosperous 2018.

[Zertoshi]

Panic? What panic?
Perhaps the astronomic price is difficult to hold, perhaps new buyers become scarce, plus some early players are cashing out. All of that puts some pressure on the price.

[jimbo2000]

Panic? What panic?
Perhaps the astronomic price is difficult to hold, perhaps new buyers become scarce, plus some early players are cashing out. All of that puts some pressure on the price.

I think it is clear there has been some panic both on the forum and also just within the market. It is unfounded in my opinion but highly expected when the price drops so much. Bitcoin has had a fantastic year and a little blip at the end should not take away from that.

[vanish9]

Most people who is here right now creating tons of threads with FUD are the ones who bought during this month at $12000 or $15000, that is why they are always complaining about the price, it is normal now.

[marcbitcoins]

The problem in here is that no one is looking at that.. If you see the charts, obviously that it is still much more expensive than what it was before.

Because the price was less than $5000 just a month and 10 days before, no one can compare that.

but those panickers are always going to be around here.

For me they did panic because some of them bought bitcoin at very expensive price already and mostly their eyes will hurt because they hate to see red column in the market and make them nervous because they are not used to it. Maybe we are very fortunate because some of us bought bitcoin at $5000 below in which it give us the courage to keep on holding.

[criz2fer]

No one is panicking. And we have to remember that Bitcoin Cash has increased its price by almost 800% during the last few weeks. I am holding almost equal amounts of BTC and BCH, so my losses from BTC were partially compensated by the gains from BCH.

People are not panicking. They are just selling to have money for their christmas celebration this year. And I think before the year ends, it will pump again because they are going to buy again because of their excess money after christmas.

[Indrawan77]

Yeah, when bitcoin going up fast, people will say bitcoin is the future and all the good things and they will invest more,  when it fall down, people will say bitcoin is crashing and dumping all the coin , I think people need to know about the market, when people buy a lot of course  the intention is to sell or to use, and one day it will cause correction, and I agree with OP that the price is still fabulous so dont do any panic sell again and keep calm

[Ctn]

It's not about the people going crazy about the speculation of bitcoin but it's all about the Christmas thing now. Also the year end parties I would say. People need money to spend on their family's and friends so whatever downfall is there it's just because of people in need of money. They have all the rights to convert the bitcoin into cash/fiat and then withdraw the money. The current effect is on mega level and I believe this is what causing the bitcoin crash.

It's really temporary though and you will see that how bitcoin will take mega jump back to +100% it had last time or more than that who knows.

[ansh_848]

This happens only due to unaware of actual price. People were thinking that what can be the price of bitcoin after 1 or 2 years. If it is increasing then why not to buy more but second thought cake that it also falls by large amount.

[Murloc]

It is pretty hard to keep your mind clear at those times when there is so much attacks on bitcoin every day on the news. Eve if you bought your BCT below that point there is still too much FUD all around. Also loosing money is always hard. It is mentally harder to have a fast growth to 20k and fall to 13k than stuck somewhere at 14k and fall back to 8k at the same period of time.

[Similificator]

Lol. It's easy. It is clearly because people are greedy. Even when they already have profit, they still want more. That is the easiest explanation. But another reason may be the fcktard greedy investors who only invested in bitcoin due to high rising prices without even taking the time to read and learn about how things work. Then just go invest blindly and then lose money. Then spread sht about btc. Stupid monkeys.

[Hydrogen]

I think the panic stems from bitcoin being defined historically as a "store of value". Most HODL'ers expect the price of bitcoin to incrementally increase over time. The sudden and surprising dips in price, which lack a good traditional explanation or cause have to rock some people and cause them to question everything they thought they had learned about bitcoin over the years.

It might be compared to the subprime mortage crisis of 2008. Many believed the value of american real estate could never decline. Properties in the USA had incrementally increased in value for years, similar to bitcoin it was considered a store of value to many, a "safe" investment.

For those who lived through that era and saw american real estate HODL dip severely in value, being related in small terms to the worldwide economic crisis of 2008. They know there could be a few parallels between subprime mortage ceasing to be a HODL and bitcoin price patterns emerging moreso as a speculative market than a HODL near the end of 2017.

Of course, the speculative investors could abandon BTC and crypto once they realize their short term trading strategies aren't the most compatible with bitcoin's nature and it being a long term store of value. There's no guarantee speculation wins, here.

[Kingofbitcoin12345]

Those panicking thread are mostly interest driven propaganda for imposing uncertainty and panic to others.. That is mostly the truth behind it,, they’re openly promoting other crypto coin that they themselves invested in.. Hope that I’m wrong but that is just my observation by taking time on looking to three latest post of accounts.. Do the same and you can see for yourself..

[maydna]

Bitcoin's price is still up ~50% from the 20th of November and yet everyone is panicking, why?
Here's the chart:

This clearly shows that Bitcoin was about $8.2K 30 days ago. Current price is still 13K.
From now on even if the price drops to a whopping 10% of the current price, a 90% drop that is, it would still be higher than the price at the beginning of the year.

I think people become afraid that their investment is going to go down and this triggered them to sell with fast. you are right, the price still higher although it is dropped and we have times to see the price is going to go up soon. besides that, I think if they cut loss their bitcoin now, they can buy again at the lower price but for me, that is not a good idea, it is better to hold and buy another bitcoin again if we still have money so we can increase the amount of bitcoin we have.

[triads]

At some point, there was bound to be a correction in price. There have been similar sized corrections (on a percentage basis) before. The difference this time is the degree of public awareness. The parabolic growth of BTC price in recent months has resulted in far greater public media attention. That sort of awareness feeds frenzy on the way up, and 'panic' on the way down.