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Author Topic: 45% drop - this is new territory, never seen before  (Read 895 times)
freightjoe
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December 22, 2017, 05:09:20 PM
 #21


Add some bad news to the equation and it all seems much more understandable.

I agree with that - but it does not change the simple fact that what we have seen in the last 4 does is not normal. We have never seen anything like that in Bitcoin before. That is just pure mathematics.
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December 22, 2017, 05:11:12 PM
Last edit: December 22, 2017, 05:24:00 PM by Coinnosaurus
Merited by george888055 (6), Bitware (4)
 #22

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.

2013-12-02 btc dropped 53% ..
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December 22, 2017, 05:14:17 PM
 #23

Some people were saying futures markets would "legitimize" bitcoin.

Thats your "legitimizing" right there. They want it to be like gold and silver, completely useless.

Also, creating artificial "bubbles" through pumping from funds is a quick way to implement "regulations" (read censorship) in crypto-currencies.
freightjoe
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December 22, 2017, 05:15:53 PM
 #24



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.

All the large dumps you show took place over much longer timescales. Price now dropped to below 11000 this time, so your calculation for the current drop is fake news - you have manipulated it
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December 22, 2017, 05:15:58 PM
 #25

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.

It looks dramatic, but $1150 down to $570 was a 50% drop which only took 336 hours.  This wasn't that much faster, but still, it is a new record.  And at one point, Bitcoin had lost a whopping 85% of it's value after that brief previous all-time-high in 2013.  It's only a major concern to those who are currently down on their original investment.  The rest of us are accustomed to this kind of volatility.  We're always breaking new records, this latest one just might be less popular than others.

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December 22, 2017, 05:18:16 PM
Last edit: December 22, 2017, 05:35:08 PM by Vatimins
 #26

       We are looking at the great correction happening today guys. Great corrections has already happened a lot in the past. It's just that it isn't as big and as fast as the current great correction. But if you think about it, this correction is just right and oretty logical since the price rise in bitcoin for the oast few weeks were really fast and high. I think this is rather a good thing and quite healthy for bitcoin to he honest. Plus it gets rid of those greedy bastards only investing in bitcoin because of profitability wothout evem understanding how it works and what problems it solves.



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December 22, 2017, 05:18:47 PM
 #27

OP must be new here, the little cutie. Congrats on your patience waiting for a drop. I see it's been fudding diligently for months with stunning unsubtlety. Enjoy your opportunity and I hope you make the most of it.
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December 22, 2017, 05:20:30 PM
 #28

Anything below 50% is normal in my honest opinion and nothing to worry at this stage. However, I do believe that the correction will help Bitcoin to stabilize itself and grow in the long run at a sustainable rate. We have seen almost 1,000% growth in last 6 months and why we are worrying about 45% drop? Things are moving in right direction and correction was essential at this stage so enjoy the situation.
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December 22, 2017, 05:20:30 PM
 #29

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

It's amazing how some people can selectively ignore whole posts that don't fit their narrative...
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December 22, 2017, 05:29:52 PM
 #30

45% is nothing new in bitcoinland. Try 90% loss, and yet again it's nothing new, although I don't think it will go as low as 90% loss this time. Probably around 80% loss is my best guess. The real question is how long  will it take and when does it start to recover.

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December 22, 2017, 05:31:41 PM
 #31

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?

+1

I believe it went from $100 to $2 once ... that would be a 5000% drop

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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December 22, 2017, 05:33:21 PM
 #32

no offence but... you can't actually drop more than 100% in a 0-minimum system
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December 22, 2017, 05:34:27 PM
 #33



I believe it went from $100 to $2 once ... that would be a 5000% drop

A 100% drop means you go to zero. Clearly you have no idea of mathematics. But seems pretty symptomatic of the level of understanding many so-called Bitoin "investors" in here have.....
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December 22, 2017, 05:35:38 PM
 #34

+1

I believe it went from $100 to $2 once ... that would be a 5000% drop

$32 to $2. And it took about 18 months to go back over that too. We might be in for a wait until 2020 until there's a proper bull run again but there might be flashes of it in the meantime. There could be several near flippenings too as alts go off and do their own thing. I hope people finally figure out that they don't have the same aims.

I think it's better that the spotlight turns off and some actual upgrades happen between now and then.
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December 22, 2017, 05:40:39 PM
 #35



I believe it went from $100 to $2 once ... that would be a 5000% drop

A 100% drop means you go to zero. Clearly you have no idea of mathematics. But seems pretty symptomatic of the level of understanding many so-called Bitoin "investors" in here have.....

Good one ... You got me on the math there. Not used to calculating decrease in percentage Tongue

98% decrease Smiley

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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December 22, 2017, 05:52:11 PM
 #36

I'd say it's more than reasonable to expect that an unprecedented rate of growth would be followed by an unprecedented correction. You're forgetting that some of the growth we've seen in the past month was also "never seen before". Wish I could have called the top better but I bought back at 11k. The fundamentals are trash right now with the fees and slow speed I'll admit but I think it's easy to underestimate just how retarded a person can be.

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Anti-Cen
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December 22, 2017, 06:04:21 PM
 #37

Well it's at £10,007 so I think a digit is about to drop of the end in terms of GBP and yes I know we are talking Tulips here
even if many of you don't want to hear it but even they had up and down weeks in 1625-35 before it well and truly went bang and
just to settle your nerves I think we are from this being the big one.

Do not feed the miners or Coinbase, stand your ground and only top up if you can afford to gamble and remember

When the fun stops, Stop   Grin

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
freightjoe
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December 22, 2017, 06:16:48 PM
 #38

I'd say it's more than reasonable to expect that an unprecedented rate of growth would be followed by an unprecedented correction. You're forgetting that some of the growth we've seen in the past month was also "never seen before". Wish I could have called the top better but I bought back at 11k. The fundamentals are trash right now with the fees and slow speed I'll admit but I think it's easy to underestimate just how retarded a person can be.

Actually it is not reasonable at all.

In a market with investors who know that they are doing, it is very unusual for the price to overshoot this much and then see such a massive correction. The logical conclusion is that a large number of Bitcoin "investors" have absolutely no clue what they are doing.

It is the good old rule that when your local taxi driver starts to give you investment advice it is time to pull out, as the market price is now controlled purely by dumb money
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December 22, 2017, 06:17:23 PM
 #39

Anything below 50% is normal in my honest opinion and nothing to worry at this stage. However, I do believe that the correction will help Bitcoin to stabilize itself and grow in the long run at a sustainable rate. We have seen almost 1,000% growth in last 6 months and why we are worrying about 45% drop? Things are moving in right direction and correction was essential at this stage so enjoy the situation.

No things are not moving in the right direction as you put it and transactions fees are just crazy, Coinbase poor exchange rates ignored whilst price was going up
and the network is far too slow plus some are saying that the Lightning Network sticking plaster won't hold and is too little and too late anyway.

See the history of IBM and computers because BTC is about the same so yes it might be around for a long time, profit will be made
but it's no Intel, Microsoft or Google and tell me who is investigating the price rise in fees or is that not possible in a decentralized system

We are being ripped off and BTC is not moving in the direction that it was designed to move.

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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December 22, 2017, 06:55:13 PM
 #40

Nothing new in the bitcoin price chart we have seen this couple of times before, if you enjoyed a 2000% increase in a single year then why complaining for this dip which is just temporary. Don't panic like beginners, wait for the upcoming fork and get ready for another ATH soon. Mark my words.

 
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