Are we repeating the 2014 BTC crash???

[European Central Bank]

it's conceivable. ultimately bitcoin, and especially alts, aren't much more useful than they were in 2013. it's all still nothing but speculation. and don't tell me ethereum is actually useful. it's main 'use case' is as a vehicle for more speculation.

i'm very disappointed that in this day and age it's still possible for 100% useless coins to be valued so high. i thought people had learnt something from previous bubbles. evidently they haven't so they're gonna pay for it.

[bob3772]

There may be similarities but in terms of where cryptocurrencies and bitcoin stand right now there are little similarities. Crypto is becoming more established and so it's unlikely to go through such a long bear period. It was breaking out of it until recently, todays binance crisis won't help but will be forgotten in days.

My point is...everything up to this minute seem to match...including that breakout you are talking about.

Again, I am also praying current trend breaks away from the 2014 trend.

I think it's a waste of your mind to allow such thoughts. I think this is another correction of the market, soon everything will fall into place.

It does matter to me since I plan on buying BTC.   I hate FUD and this post is not geared towards that.  It is cautionary and last I checked, historical fact does not fall under FUD.  This 5 month match is just too much for me to ignore and might smack myself if BTC price does fall shortly.

You're right that it's wise to look to the past, I just think that as I said previously, with the context being so different I think the two paths will diverge from one another fairly soon. Of course we could follow the exact path of 2014. I wasn't here in 2014 so it's hard to speak about the mood in the community at the time, any insight in to that would be interesting because that's what will decide how things pan out.

Well to date still matching the 2014 pattern...BTC just touched $9,235 (at GDAX) and dropping.  I am glad I held off my purchase.

If you foresee it following 2014's pattern then surely you're going to be holding of a lot longer? To follow a similar path would mean falling to a price near 2k to 3k.

I'm still of the belief that it's just a consolatory phase and bouncing off about 8.5k has helped in that belief but we'll see. Maybe something in between.

[Poink]

I am actually just waiting for $7k-ish.

[coinsontheroad]

There are so many different parameters effecting price, how can a comparison even be made with any other year?

Bitcoin is facing different external events, government reg, etc...

All things being equal you can compare the two, but all things are not equal.

[ekin4]

It's not the same but it has similar patterns. Now we have bigger market, more (quantity) and better (quality) coins. There are too many new investors. Market is not the same size. We can call it bear market but it's not as though as 2014 crash. Only time will tell if this is the start of a longer bear market.

[Poink]

There are so many different parameters effecting price, how can a comparison even be made with any other year?

Bitcoin is facing different external events, government reg, etc...

All things being equal you can compare the two, but all things are not equal.

Obviously, you did not watch the video.  

[Diced90]

We blame KYC requirements, regulators and all but TBH sometimes we do the most damage to the prices ourselves with the spread of such information.

all I believe for now is people are now making a living off trading and the price movement can be the responsibility of the guys, let us not panic all will be well.

[burdeN]

I'm not a panic seller, but all this stuff in addition with negative rumors coming from China makes me feel bad about the nearest future of crypto 

[karel88l]

I dont care if this will fall it would be only good,because now crypto is full of scam,scammers and morons trying to make fast money.Return to mean.

[yua_na]

I think so and i dont need the chart to gues that we are in 2014 crash again now. And this crash will last untill 2019 or 2020 start going up again at q3 2020 untill 2021. And this crash still because of mt gox hacked. I read somewhere that mt gox trustee selling their bitcoin for paying a d3bt to customer.

[ajoy]

it does not make sense to compare something that has been long in the scope of Cryptocurrency because the development of Crypto is different from the development of regular currency

[Mhedz]

Why should we need to bring back the old chart? If it goes thru at that price,then we should be grateful. We can buy more when it become so cheap as we know that when btc dump much,lots of people will buy more that would cause to btc to fly high again.

[Dreamchaser21]

Why should we need to bring back the old chart? If it goes thru at that price,then we should be grateful. We can buy more when it become so cheap as we know that when btc dump much,lots of people will buy more that would cause to btc to fly high again.

But the sad thing is we need more time before if comes back again if that things happen. I think for now don’t panic because this is just a result of so many negative news right now and let’s all hope for the best with bitcoin. The history may repeat itself but of course it will go up after a big fall.

[bob3772]

I am actually just waiting for $7k-ish.

If you believe we are following the 2014 trend would that not be a bad strategy? I would feel that looking to buy at 7k is more of a feeling that we will test 6k again but that the market will begin to recover sooner than later.

There are so many different parameters effecting price, how can a comparison even be made with any other year?

Bitcoin is facing different external events, government reg, etc...

All things being equal you can compare the two, but all things are not equal.

Nothing will ever be the same again so how can we ever compare anything? You just have to be sensible in your comparisons and know that all things are not equal and the conclusions that you draw will be limited by that fact.

[adsdas]

i dont think so. this moment is just a fluctuation when there are too fake news in the market. BTC also has a long time development in 8 years. So, I believe BTC will rise up soon

[Milamol]

i dont think so. this moment is just a fluctuation when there are too fake news in the market. BTC also has a long time development in 8 years. So, I believe BTC will rise up soon

This, of course, is a swing. But what is the premise that the market will soon rise again? This is also so, that there can be a continuous base near the bottom for the long time.

[engin978]

it is fascinating to compare the German and the English community, here in the English area is written so much negative, every day a new thread is opened in which the doom is prophesied ... Quite different from the German part ... real facts and informative is discussed .. about technology and so on ... almost everyone thinks positively, although the people have become a little more cautious but still it is more pleasant to talk there

I wish i would speak German!!!
But we see much more pessimists when the market is bearish....

[preshpr1nce]

Looks more like a slightly stronger version of the 2016/2017 correction, look what happened in mid/late 2017.

[Tony116]

i dont think so. this moment is just a fluctuation when there are too fake news in the market. BTC also has a long time development in 8 years. So, I believe BTC will rise up soon

I also think that the situation in 2014 is very different from the situation in 2018. First of all, the difference is that the popularity of bitcoin has grown very much during this time. I'm sure that the price of bitcoin is artificially kept at lows now.

[Dodoymabs]

Why should we need to bring back the old chart? If it goes thru at that price,then we should be grateful. We can buy more when it become so cheap as we know that when btc dump much,lots of people will buy more that would cause to btc to fly high again.

But the sad thing is we need more time before if comes back again if that things happen. I think for now don’t panic because this is just a result of so many negative news right now and let’s all hope for the best with bitcoin. The history may repeat itself but of course it will go up after a big fall.

Yes, we need to be strong enough to face the situation right now. Also, this is normal because we are dealing with the market which fluctuations are happening from time to time. For traders out there, this quarter maybe the best to buy coins due to almost coins right now are in such dip in value.