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freightjoe (OP)
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December 22, 2017, 04:38:30 PM |
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In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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emuLOAD
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December 22, 2017, 04:41:38 PM |
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a few _days_ ago it gre by 1000$ in some 2 minutes. 120 seconds. Is it _really_ unseen territory?
Also, I recall a 50-some% drop smetime in 2011... guess most people don't go that far back?
Oh, not to mention the collapse in 2013?
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GPU5970
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"Highest ROI crypto infrastructure"
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December 22, 2017, 04:43:34 PM |
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Never seen before? you clearly do not understand how the market works.
It went from 20k to less than 11k, and yes, it happened, but why are you so depressed about it? I would bet all my funds that you did not even bought at 20k, so you are not in a loss of 45%.
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mk4
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Paldo.io 🤖
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December 22, 2017, 04:45:27 PM |
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Bitcoin barely existed a single decade, so we have very little data to compare this correction to. This drop just once again showed how volatile crypto is, like you said. It just simply dropped faster compared to past corrections as we went up more than 2x in a single month. Probably just a healthy correction in my opinion due to all the hype bitcoin has been getting over the news and social media.
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freightjoe (OP)
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December 22, 2017, 04:46:22 PM |
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a few _days_ ago it gre by 1000$ in some 2 minutes. 120 seconds. Is it _really_ unseen territory?
Also, I recall a 50-some% drop smetime in 2011... guess most people don't go that far back?
Oh, not to mention the collapse in 2013?
Nope. 1000$ drop a few days was not that much in % because the price was high. Previous crashes had the effects of Mt.Gox being the largest impact. Price dropped 36% over 2 months, and then for a total of 80% over some 6-8 months. But note the timescale here - months. Never this sharp a drop this fast. |
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freightjoe (OP)
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December 22, 2017, 04:47:33 PM |
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Never seen before? you clearly do not understand how the market works.
Are you drunk? It is simple mathematics. 19700 to 10890 comes to 45%. What part of that is it that you do not understand? |
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Satish147
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Harmony for One and All
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December 22, 2017, 04:47:51 PM |
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It is the good chance to get in Bitcoin whoever felt missed the bitcoin train. Still so much we can make much greater Bitcoin in 2018
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londoireng
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December 22, 2017, 04:49:05 PM |
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Its crypto, anything can happend in matter of second. i found it very interesting cause when the price drop people start panicking and sell whatever coin they hold and the price will keep drop, all crypto have no value its all just bassed on demand. Try to buy it again the price will up again xD (with large scale ofc)
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freightjoe (OP)
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December 22, 2017, 04:52:00 PM |
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Its crypto, anything can happend in matter of second.
No, this is plain wrong. That is why mathematics is your friend. You can calculate what is normal. You can calculate what has happened before. What we have seen in the past 100 hours is something we have never seen before. That is fact. |
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Tipestry
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December 22, 2017, 04:53:05 PM |
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It's important to keep in my how long it was at 20k. If it had been holding steady at that price for a month or so (with lots of people buying at that price) and then dropped to 11k that would be a lot more alarming than what happened, which is that it only hit 20k for a brief moment without much volume before going back down.
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tdrinker
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Join FlipNpik Telegram : t.me/flipnpikico
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December 22, 2017, 04:54:11 PM |
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In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
Erm, yes there has, we saw it earlier this year at least once already or are you that short minded or too lazy to look in to the past? The same thing happened when China shut down exchanges and blocked ICOs. |
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eternalgloom
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December 22, 2017, 04:55:28 PM |
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a few _days_ ago it gre by 1000$ in some 2 minutes. 120 seconds. Is it _really_ unseen territory?
Also, I recall a 50-some% drop smetime in 2011... guess most people don't go that far back?
Oh, not to mention the collapse in 2013?
Nope. 1000$ drop a few days was not that much in % because the price was high. Previous crashes had the effects of Mt.Gox being the largest impact. Price dropped 36% over 2 months, and then for a total of 80% over some 6-8 months. But note the timescale here - months. Never this sharp a drop this fast. The drop wasn't as sharp back in 2013 when Mt. Gox went down, but you should also keep in mind that the price wasn't rising as much and for as long as now. This correction was bound to happen, no way that this kind of growth was sustainable in the long run. Add some bad news to the equation and it all seems much more understandable. |
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Venkman83
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December 22, 2017, 04:55:57 PM |
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I wouldn't be surprised to see it go back to $5000 before it accelerates to new heights again. No need to be worried. I've seen worse things happening on the stock exchanges in the past 10 years.
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LastJedi
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December 22, 2017, 04:56:28 PM |
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It as recovered what it lost in the last 5 hours.
It is back to $13,320 now and bouncing to what it was yesterday.
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emuLOAD
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December 22, 2017, 04:56:55 PM |
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a few _days_ ago it gre by 1000$ in some 2 minutes. 120 seconds. Is it _really_ unseen territory?
Also, I recall a 50-some% drop smetime in 2011... guess most people don't go that far back?
Oh, not to mention the collapse in 2013?
Nope. 1000$ drop a few days was not that much in % because the price was high. Previous crashes had the effects of Mt.Gox being the largest impact. Price dropped 36% over 2 months, and then for a total of 80% over some 6-8 months. But note the timescale here - months. Never this sharp a drop this fast. I was referring to a 1000$ rise not drop. Growth was faster than it's been before, that's what I was pointing to. Also, if you really are fixated with history and mathematics, use historical data https://www.buybitcoinworldwide.com/price/April 9 2013 to April 11 2013, then April 13 and 16. |
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chrisrok
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December 22, 2017, 04:58:25 PM |
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I wouldn't be surprised to see it go back to $5000 before it accelerates to new heights again. No need to be worried. I've seen worse things happening on the stock exchanges in the past 10 years.
agree! don't get panic! "hodl" your coins and relax, 2018 gonna be huge! |
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Kprawn
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December 22, 2017, 05:01:10 PM |
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Where other people panic, I get exited. Nothing really big happened to explain this, other than CoinBase starting to enable BCash on the exchange and people going into panic mode, when the price dropped a little. The trigger affect was more people dumping and speculators extracting their coins to protect their profits. We knew a correction was due.. and we prepared for that. The thing that makes me excited is the new opportunity to buy bitcoins at a more realistic price. {cheaper price} If this bounce back to $18 000 or even $20 000, then we will make much bigger profits.  |
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putrii
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December 22, 2017, 05:04:41 PM |
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In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
if we buy at the price of $ 17-19k we are very distressed if the price drops with this much value, but not until you sell it at a cheap price because it is very detrimental to you, hold your bitcoin until the price back up. or you can play altcoin that can use bitcoin to multiply your bitcoin. |
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freightjoe (OP)
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December 22, 2017, 05:07:39 PM |
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In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
Erm, yes there has, we saw it earlier this year at least once already or are you that short minded or too lazy to look in to the past? The same thing happened when China shut down exchanges and blocked ICOs. No it hasn't - you are simply factually wrong. The largest drops we have seen this year are: In September from 4950 down to 3226. This is "only" a 35% drop. And that drop took 13 days. In June from 3018 down to 1938. This is "only" a 36% drop. And that drop took 35 days. The drop right now is 45% in less than 4 days. It is amazing to see the so-called "investors" in here only react on emotion and anecdotes, but not be able to do simple mathematics |
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iram1011
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December 22, 2017, 05:07:50 PM |
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 I don't really agree to your assumption that bitcoin never went such a dump in short time. According to this chart, there was a massive dump of 72% in 2010 and the last dump in November was also 30% in 4 days. There is nothing new in this dump. Yeah, the fall in USD must be quite high, but percentage wise it is just another dump. |
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