We are now down 70% and still dropping

[eternalgloom]

do not lose hope buddy
many believe, this is a very natural thing in this crypto world, maybe this is called the main risk of bitcoin
I myself, had predicted this would happen, when I first jumped, and I was ready with this risk
do not panic then sell, hold your coins, bitcoin will return to normal in a few moments, just need to wait

moments? or months? or maybe years to get back to 20 k again

So what? It also took years to get back over $1000 after Mt Gox imploded, but it did happen in the end.
I'm fairly certain that this time 'round it will happen a lot faster than in those days, but things need to calm down first.

[cellard]

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

I’m not sure what you’re getting at? This isn’t new info.

The greatest minds in finance (I mean people in the real world, not bitcoinland) have been saying for a month that bitcoin is in a huge bubble that is going to pop.

These are people with advanced degrees in economics, business administration and finance being published by ages old respected economic reporting agencies. Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review have ALL published articles telling about the impending disaster that’s about to happen when the bubble pops.

Everyone has been informed so no one should be surprised unless they live in a total vacuum somewhere above the fucking Arctic circle in an igloo. If the people on this forum want to ignore all of the worldwide brainpower saying the exact same thing, let them.

The religious cult - which the Bitcoin followers in here largely are - appear to still be in denial about reality though.

So what? That’s my point. If hundreds of people with doctorates in business and finance can’t convince them do you think you have any chance of doing it? Let it go dude.

"Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review"

That's another cult. They are just market makers, that's all. The bubble popped because they can get on the mainstream and they scared all the noobs away, that's all, there's no mystery science there. All the idiots that thought they could get rich overnight and FOMO'd into Bitcoin because they saw it on the news about how it was going high are the same idiots that panic sold because Mainstream media hired these people to say it's a bubble in order to stop the growth.

Let me remember how Mark Williams predicted Bitcoin under $10 by 2014, that's an expert PhD federal reserve bankster opinion which was wrong as fuck as we all know.

"Bubble is popping" comments started at $2k, so it finally popped at $20k, so what, it means nothing, if you say it enough times you will eventually be right, doesn't take a PhD for that, similarly, doesn't take a PhD to know we will be at all time highs again eventually, because there is 21 million coins only an there will always be a demand for a neutral, global asset, and given that altcoins are scams, Bitcoin is it.

[guy369]

and given that altcoins are scams, Bitcoin is it.

I disagree with you on that, a lot of Altcoins have value to the crypto world.

However, many of them will not survive 2+ years

[gakadem]

you are right the fall of bitcoin is still going on
the current bitcoin price is getting weaker, and continues to weaken! I hope this will soon recover as usual
if this continues to happen it will have a very bad impact. I can not imagine it

[thesmallgod]

well, you have every reason to believe its normal like some people use to say. market or chart correct isn't this. besides, I don't think cryptocurrency has witnessed this since the first coin has been created in 2009. however, I do not believe this might be the end of crypto because just the way the media impacted the crypto world positively last year which make many investors enter the raise. the opposite is happening now. negative news everywhere. from facebook crypto ads to Chinese banning crpto ads.

[dewi91]

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

Now is February 2018, lets compare the price from the last year, Feb 2017.
the current price is still above the last year price.
So you cannot say this is a full-on crash.
i think the sign of full crash is, the price is lower than last year price.

I think it is a different condition, this is the worst decline. Bitcoin price ever reach almost 20k before and decline more than 50 % is really bad although the price is not lower than February 2017. we all have a big expectation in bitcoin because the price ever goes up very high but now the condition is very worrying.

[sofi@]

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

This is one reason why I stop looking at the graph because I only feel disappointed seeing those figure starting to eat up every invstment I made. It's not over yet, it can actually drops as low as we could ever imagine, but we cannot do anything rather than keep hoping and believing things will gets better in time.

[mlgblockchain]

This is absolutely not a normal thing and the worst news is, this is not over yet. The price will keep draining and may hit $4000. I believe the price will go up again as rapidly as this fall. But honestly, this current situation was needed. A very expensive currency is very hard to use.

[QuestionAuthority]

I’m not sure what you’re getting at? This isn’t new info.

The greatest minds in finance (I mean people in the real world, not bitcoinland) have been saying for a month that bitcoin is in a huge bubble that is going to pop.

These are people with advanced degrees in economics, business administration and finance being published by ages old respected economic reporting agencies. Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review have ALL published articles telling about the impending disaster that’s about to happen when the bubble pops.

Everyone has been informed so no one should be surprised unless they live in a total vacuum somewhere above the fucking Arctic circle in an igloo. If the people on this forum want to ignore all of the worldwide brainpower saying the exact same thing, let them.

Anyone else find this post ironic given the screen name of the poster?  

The "experts" have been wrong far more often than they have been right on Bitcoin. I could care less who has what opinion about Bitcoin - only the reasoning process behind their conclusions is what matters to me. And yet when they voice their reasoning on this subject I often find it lacking even at a cursory examination.

I’ve been waiting for you to appear (well not you specifically but someone with your viewpoint).

Global economics didn’t change the minute bitcoin arrived on the scene. Bitcoin is a new way to send value across great distances, it’s not a cure all for the ills of economic instability. The protocol doesn’t set its own USD/BTC exchange rate. It doesn’t morph into an economy like a Power Ranger (shape of a stable economy, Power Rangers activate). It wasn’t designed for that. I’m sure you know that, I don’t need to explain that to you.

Professionals in economics and finance have dedicated their lives to the study of markets and money. Their insights could be used to help us and bitcoin in general but instead of really listening to what their saying everyone here spends all of their time nitpicking and attempting to tear them down. Why learn from them when we can just cheerlead and get that new ATH and profit, right. New ATH and sell, sell, sell, then find the bottom and buy, buy, buy.

I’m not going to waste our time by asking you for specific examples of when they were wrong and how. Have you really ever thought why they’re wrong when they miss the mark? What part of the picture is available and transparent for study normally that isn’t available in bitcoinland?

Most Bitcoin exchanges have no oversight whatsoever and most of them have refused to be audited by independent outside third parties. That cannot happen normally because there are laws against it. BTCe was laundering massive amounts of money for years and we were all oblivious. MtGox destroyed lives because of the lack of oversight and auditing. Bitfinex and Tether are getting ready to do the same thing again, rinse and repeat. Also, insider trading is a plague in bitcoin and happening all over the bitcoin economy that would be discovered with a little more close scrutiny. There is probably more off-book trading being done than on-book. We have no idea how many bitcoin sales are happening at Overstock.com or Microsoft because all the money is immediately exchanged off-book by BitPay.

Just the impropriety we know about is enough to make me realize no analyst, regardless of how knowledgeable or experienced, could ever completely predict the outcome of anything in bitcoinland perfectly because of the unchecked impropriety. He could, however, predict a major value crash in the near future that’s so obvious it slaps you in the face.

[Joebobb69]

Go ahead, throw you money away chasing a dream to get-rich-quick. Reality is that the party is over.

I'm not in this to get rich quick. Yes, you can make much nicer money than traditional banking/savings/investments, but the days of 10000% gains are over.

I'm in this because I believe in the technology. Blockchain technology is changing and will continue to change the world. I believed this at $20k, I believe it now at $7k, and I would still believe it at $1k.

Let's check back in 10 years, and see if blockchain technology is still around.

Nobody is disputing that blockchain technology is going to be important in the future.  The question is, will Bitcoin be important?  I have my doubts.

[Rana590]

We shouldn't be panic with the price of Bitcoin. We all know that the price of Bitcoin is decreasing rapidly but we can't say that price will be dropping all the time. Personally i firmly believe in bitcoin that it will be recovered it's price very soon.

[ClarksonI]

For most of us this is the first real big crash that we cross, unfortunately we can only wait and hope that the future will be prettier for cryptocurrencies

[atliens99]

Your only down 70 percent if you bought at the all time high which is stupid.  Always be patient and never buy something at the all time high.  Everything will always dip no matter how strong the bull run is.

[ss890]

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

Just after your few hours of posting bitcoin has stated moving upwards and it is now at +3% with green zone. So im pretty sure that bitcoin is the real deal and now you believe it too. This is the up rising of the bitcoin and no one can bit the challenge of bitcoin where it went all down to 70% and in single day came back to 3% and more. Thats the real beauty behind it and lets hope we see +70% again and the bitcoin goes ATH of 20K soon. Lets party guys because that is what bitcoin is trying to get for us. So yes man, this is normal in crypto and you should hold and hold.

[HitbtcSCAM]

Bitcoin is up 40% since  October
 you sound like spoiled children sad because you can not have your chart always going up.Bitcoin is the future go sell it if you dont understand

[richminded]

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

A biggest crash that I’ve ever experienced but as you can see it’s not over yet because this technology will bounce back and correction will happen again in the future. This is the scenario every year, FUD will continue to spread but they can never stop cryptocurrency specially bitcoin because this is a kind of technology that we need in the future.

[imapessimist]

It now seems to be going up again.  But try and be sensible this time.  Buy now if you must and don't spend
 your life savings.   But don't wait and leap in at 20k.  If it ever gets there again.  

[skyline247]

drop has stopped now.

[DAVETUN]

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

The crash is real, this is unbeliviable jus the way there was a high rise in 2017,I know the crash is sure but not as low as this.

[HitbtcSCAM]

What crash bitcoin is up 40% since 4 months ago.Do you know what a crash is?