45% drop - this is new territory, never seen before

[JimboToronto]

FUDers gonna FUD and the 'ignore' button is there if you need it.

I try to avoid using the "ignore" button as many trolls and much FUD can be amusing.

I've only used it for really obnoxious, insulting trolls like Notlambchop and Matthecat.

I've come close with r0ach but he's such a laughable buffoon I've let him go despite his bigotry and the sheer number of his posts.  

[1715521993]

1715521993

[1715521993]

1715521993

[1715521993]

1715521993

[fabiorem]

I try to avoid using the "ignore" button as many trolls and much FUD can be amusing.

I've only used it for really obnoxious, insulting trolls like Notlambchop and Matthecat.

I've come close with r0ach but he's such a laughable buffoon I've let him go despite his bigotry and the sheer number of his posts.  

I never use it.

I like to read r0ach and kwukduck posts. They are very amusing.

[Lowleary]

after USA market open and coinbase start at 14,000$ bitcoin stabilize more than before.

bitcoin now trading more than 15,000$

[Kemarit]

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.

I would say I agree with you, I think this is one of the most worst crash I've seen in bitcoin market, well except for the 2013 crash. During the height of the China crisis, I only see like 30% dip if I'm not mistaken. But this last 3 days was totally out of this world. And look at how many thread started saying that bitcoin is died. LOL. That makes my day. However, its over now, you can go out of your home now, bitcoin has recovered all other alts as well. However, if the purpose of this thread is to scare newbies in selling their bitcoins, I hope you they didn't listen with your schills. Its really annoying sometimes that just like I said, I just laugh at it. But at least bitcoin is already on its road to $20,000 once more and thread like this should not be thrashed so that we can go back and see how OP's reaction when he sees that bitcoin is going up once more. 

[1Referee]

"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's not normal, that is something most people here can agree on. However, some people are here long enough to not see it as something interesting other than it being a nice investment opportunity. I too have experienced these levels of drops, both with Bitcoin and altcoins at the time SilkRoad was shut down by the FBI, and trust me, the current drop is a joke compared to that drop. Not in terms of how much it has gone down percentage wise, but more the time frame. It was a matter of minutes the crypto market tanked with like 50% in 2013. I highly enjoyed the bottom yesterday. I managed to buy some coins well under the $12,000 level which I wasn't expecting to buy at this year at all.

[jjacob]

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.

And the drop was extremely short lived. We have crossed $15k now. The volatility is high, but you should remember that we started December 2017 at around $10k, we are still up 50% during the month. And that is in spite of people talking about the drop is if it were doomsday.
People tend to have short memories. I hope they keep this drop in mind when Bitcoin crosses $20k again as well.

[Wekkel]

.
People tend to have short memories.

** remembers $17.x drop to $0.0000001 on Gox **

Someone else do the calculation 

[deisik]

"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's not normal, that is something most people here can agree on. However, some people are here long enough to not see it as something interesting other than it being a nice investment opportunity. I too have experienced these levels of drops, both with Bitcoin and altcoins at the time SilkRoad was shut down by the FBI, and trust me, the current drop is a joke compared to that drop. Not in terms of how much it has gone down percentage wise, but more the time frame. It was a matter of minutes the crypto market tanked with like 50% in 2013. I highly enjoyed the bottom yesterday. I managed to buy some coins well under the $12,000 level which I wasn't expecting to buy at this year at all.

Bitcoin was basically a non-event back then

In other words, we can't really compare what was in 2013 (or earlier, for that matter) to what we see and experience right now. For example, back in 2013 there were no altcoins sticking around, I mean as powerful as they are today. Bitcoin was an undisputed champion in those good old days, one and only. This is no longer the case, obviously. And while we are at it, Litecoin has recently risen well above 100 dollars (actually, it went over 300 dollars). Do you remember that I promised you not to forget about that? Are you still disinterested in this coin as you were a few months ago?

[Don Pedro Dinero]

I’m glad to see this was an unseen event in bitcoin’s price history, as I found it quite normal. That means I am prepared for anything it may come. No matter if there have been similar drops in the past, as it seems, what I was thinking when it was rising so fast is that at some point we would have a strong correction. I am mentally prepared for a new ath now.

[DashS]

45% drop is just normal day in crypto

[francis2]

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

But then what did you expected? The price of bitcoin rose incredible high in a matter of days and sometimes in hours it is obvious that a correction of this size was needed, the movements are too abrupt but nothing that is out of the real of possibility taking into account bitcoin volatility.

[mast3rm1nd]

dude just relax, it's understandable if you consider how popular bitcoin has become. crazy stupid money has been flowing in BTC and the new investors panicked and sold. everything is just fine

[Enjel]

We needed weak hands and blind money to join the market.
That is literally the only way to make money on Bitcoin now, with the widespread adoption.

Then, due to Christmas withdrawals, people maybe panicked and sold everything. It was bound to happen sooner or later.

I can't believe some people would actually sell at a loss with zero really bad news, and just because the price started dipping. But that's probably what happened.

Sometimes I think "this is the end" for Bitcoin. But then I remember that "HODL" is meant to be taken seriously, and that the digital currencies market cap is only 0.5 Trillion (AKA a tiny drop of water in a pond).

[JohnTask]

We needed weak hands and blind money to join the market.
That is literally the only way to make money on Bitcoin now, with the widespread adoption.

Then, due to Christmas withdrawals, people maybe panicked and sold everything. It was bound to happen sooner or later.

I can't believe some people would actually sell at a loss with zero really bad news, and just because the price started dipping. But that's probably what happened.

Sometimes I think "this is the end" for Bitcoin. But then I remember that "HODL" is meant to be taken seriously, and that the digital currencies market cap is only 0.5 Trillion (AKA a tiny drop of water in a pond).

Sometimes I'm amazed by the ignorance of some people on these boards. I'm a hodler myself and remain bullish, I always expect people over here to be at least as informed as I am, but get disappointed every time.

Zero bad news you say?

How about the mass media reporting that one of the creators of bitcoin.com no longer believes in BTC and is selling it all (which is causing FUD, even grandparents talk about it)?
How about the hundreds of thousands of unconfirmed transactions (causing FUD)?
How about the clogged network and the attack on the network (multiple accounts spamming transactions every few seconds for no reason, losing money in the process), causing FUD?
How about coinbase being accused of insider trading, causing FUD?
How about Roger Ver pushing BCH, causing people to doubt the effectiveness of BTC (causing FUD)?
How about the price slowly dropping for multiple days now, causing FUD?
How about the Belgian media reporting the Belgian government wants to tax BTC profit with 30%, causing FUD?
How about the mass media in the U.S.A. reminding people of their tax obligations, which many people don't understand, causing FUD?
How about the Dutch mass media article about the BTC bubble, recommending everyone to get out as soon as possible (causing FUD)?

Man I could make the list much longer than this, but I believe my point came across. Zero bad news, really?

Don't get me wrong, again, I'm still bullish, but please keep your eyes open and try to understand what's happening and what's contributing to the FUD.

[Enjel]

I said no **really** bad news (for example, SEC declares Bitcoin ban) I am aware of most of what you just said.

In literally every single moment of Bitcoin, there are FUD factors constantly. People don't see them when the price is rising because of the mania. It is only when the price is dropping that we begin to see all this stuff in the background.

*The mass media has always spread FUD, 24/7. It always tells people "the next crash is coming". By that logic the market would have never gotten past 3k.

*Tax obligations have been around in the US since like 2015. Reminders are always there. Similarly I'm sure with other countries. The Belgian tax on profits will cause people to sell for losses? I doubt it.

*Small factors like insider trading by a few individuals --accusations-- are thing I really can't take seriously. We literally have CME futures, where billionaires can short and manipulate the market if they wanted to. No one seemed to care then, so I wouldn't think it would matter now.

*Some of the stuff I didn't know (like Belgian taxes, and I don't care what Roger Ver is up to), but most of the stuff you are saying is nothing new or special - transaction problems, mass media, taxes.

Maybe I am just overestimating the conviction of some traders, but honestly anyone who has been in the market for more than a few months should *probably* not be afraid of this, unless they were one of the weak hands to begin with.

BTW, there are other factors you haven't even mentioned, like the unstable Asian market, the fact that Bitcoin is untenable as payment (so must be a store of value) as of now, and CME market manipulation.

[Enjel]

Bottom line, there's a lot of bad news all the time. People make up fake news (Mike Novogratz claims BTC will drop to 8k, when in reality he just said that would be an "extreme", but news networks are acting like it's his main prediction, which is fake news).

There is so much FUD in this whole market, yet the price has continually gone up.

There has to be something really bad, news-wise, for people to abandon the market based on that. Otherwise, it is just panic-selling, which I definitely believe the last few days were.
AKA it was not justified, but an inevitable correction by weak hands.

[JohnTask]

I said no **really** bad news (for example, SEC declares Bitcoin ban) I am aware of most of what you just said.

In literally every single moment of Bitcoin, there are FUD factors constantly. People don't see them when the price is rising because of the mania. It is only when the price is dropping that we begin to see all this stuff in the background.

*The mass media has always spread FUD, 24/7. It always tells people "the next crash is coming". By that logic the market would have never gotten past 3k.

*Tax obligations have been around in the US since like 2015. Reminders are always there. Similarly I'm sure with other countries. The Belgian tax on profits will cause people to sell for losses? I doubt it.

*Small factors like insider trading by a few individuals --accusations-- are thing I really can't take seriously. We literally have CME futures, where billionaires can short and manipulate the market if they wanted to. No one seemed to care then, so I wouldn't think it would matter now.

*Some of the stuff I didn't know (like Belgian taxes, and I don't care what Roger Ver is up to), but most of the stuff you are saying is nothing new or special - transaction problems, mass media, taxes.

Maybe I am just overestimating the conviction of some traders, but honestly anyone who has been in the market for more than a few months should *probably* not be afraid of this, unless they were one of the weak hands to begin with.

BTW, there are other factors you haven't even mentioned, like the unstable Asian market, the fact that Bitcoin is untenable as payment (so must be a store of value) as of now, and CME market manipulation.

Well, in that case I guess we are both a bit more nuanced than we sound.

Yeah, FUD is everywhere, all the time, that's nothing new. With the masses pouring in, I'm afraid they are more sensitive to the news and will scare more easily, so that's where the panic selling comes from. We actually agree, I just got the impression you were ignoring the many elements that could be contributing to the selling (the bad news). Which you aren't.

As always, let's just hope for the best!

[Cryppy_guyL]

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.

Well this is already a normal situation, after overcoming the bar in 20k, the recession began, of course not 10k but 14k, but I think this is not the price that those who came to bitcoin were waiting for. It was obvious that bitcoin had already outlived itself.

[Bit_Happy]

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.

To everyone watching the HUGE Display of Greed:
The biggest insanity "bubble" in history deserves an exciting response when the fun finally ends.
The people who were here before I came used to care about more than just greed and a fast profit. 

[Supercrypt]

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%.

Lol. No need to bet as I am sure he is worried about the ones he has earned so far.
I wonder how people expect that bitcoin will just keep acting up insanely and raising up just like that without seeing a moment that would bring it down to the level where the main sanity stopped and then sanely start from there.

It has been a terribly huge increase in this year and this is not something that has not happened before and OP needs to go to Google school to do some research.