Bitter truth behind the market crash

[IsuruMaduranga]

The Crypto market is crashing...  Now BTC= 7400$ & Eth=400$

What happened to BTC?

1.Thousands of people came into the Crypto field and started buying in Dec/Jan. So the market hyped unbelievably.
80% of them have 0  technical knowledge about Cryptocurrencies.
90% of them does not believe in Bitcoin.
20% of them have absolutely no idea what a cryptocurrency is and how the market behaves.
70% of them just wanted some quick profit.

2.Some idiots bought and sold for quick money and dumped the market.
3.Some people got panic and started selling.
4.Whales saw this early and slowly sold part of their holdings. Now they are buying at low prices.

What happened to Eth and Ethereum tokens?

1.BTC going down = Eth going down
2.People with 0 crypto knowledge started investing in ICO's.
3.People with 0 crypto knowledge started doing bounties.
(Those are the spammers in Bitcointalk)
4.That two kind of people started dumping ICO's for quick earnings
5.Scam ICO's and useless ICO's came in to play.
6.Because of the ICO flood, ICO's became less profitable.
7. So some ICO investors lost their faith.
So Eth and most of its tokens crashed.

What happened to Other coins?

BTC going down = Every other coin going down

What will happen next?

1.Whales who sold for higher prices will buy slowly at low prices and will become 1.5* rich.
2.Some people will leave the Crypto market.
3.Believers will HODL.
4.The market will slowly recover.

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[First77]

Worldwide people do $500/month to $10,000/month jobs. Gold is $1350/ounce and Silver is $17/ounce

1 Bitcoin = $2,000 killed its growth.

[Emma Alex]

It is part of the game right? Sometime it crusher sometimes it grows. Don’t lose hope and keep patience. Good days are coming.

[jonloner011]

Interesting percentage there. I believe you didn’t put those by wild guess. It’s true that many came here with hardly any knowledge about the market. SO, panic sell happened. Short term goal holders always affect the market big-time. It’s a must to have knowledge about what we are gonna do and how we are gonna do. Though I believe, these are not only reasons behind the fall in price.

[mahibul49]

i think its good correction.bitcoin will rise soon.just be patient
reward will come

[Crypto Girl]

What is the basis of this analysis? Do you have some technical skills to make such analyzation? How are you sure that your analysis is correct? Go and have a life and mind your own life, forget about this and stop acting like a pro.

[bobo012]

i think its good correction.bitcoin will rise soon.just be patient
reward will come

It is good, but scared retail investors for a long time. I doubt we will see them until we bust through that 20k again. And even then it is doubtful, i dont know if they will be brave enough to jump in it again...

[quanghoa7911]

You think right and wrong. Personally, this is a new market that has not been accepted by many users and is mainly because the government has not properly recognized the benefits of blockchain technology and users have not received enough benefits to their enthusiasm.

[supermine]

i think its good correction.bitcoin will rise soon.just be patient
reward will come

It is good, but scared retail investors for a long time. I doubt we will see them until we bust through that 20k again. And even then it is doubtful, i dont know if they will be brave enough to jump in it again...

Sure the price will,so be brave to hold your coin and if you are bravest then buy now more bitcoins just like a baby whale.

People who are smart enough will make use of the current situation because this is not the first time the price fall like this so it will recover too,need to have believe on it.

[Seetheummerallyeah]

Let me fix your last paragraph for you

What will happen next?

1. I have no idea but I guess whales will buy up coins at low prices to make 1.5x profits (I just made this number up)
2. Some people will leave the Crypto market (There are always people leaving and joining the market at any given time)
3. Believers will HODL. (And either gain or lose money)
4. I have no idea how the market will look like in the future but I hope it will slowly recover


If you can say with 100% certainty what the market looks like in the future you would be the richest man on the planet. The hard truth? The market is unpredictable and its impossible to know what will happen in the future

[Blackhammer321]

I guess the bitter truth behind the market's crash is people run things on bitcoin just because for profit and not its main goal after created. Market crashed mainly because we are greedy, don't deny it, we all want a profit out of it but what we don't know is the effect of our doings. Almost all of altcoin's price crashes and so the bitcoin because of too much sell than demand.

[oginiimaoyani]

For sure the market will slowly recover and those that have understanding about the market will say at last we made it, the panic once will regret so if you are interested make use of the current market wisely.

[sorrysteve1]

The market got overloaded by people who had little idea what they were doing and what they were investing in to. When the price started to fall which it inevitably would after reaching such heights they panicked and that's why we got a lot of the crash that we did. Those guys are surely all gone by now but we're left with a very unsteady market in which confidence is the rarest commodity of the day.

[hugeblack]

Bitcoin does not depend on an asset to support, so the usual changes will cause a significant drop in price.
I agree with you that the main reason for converting any drop into crashing is the misuse of the bitcoin (use bitcoin as investment tool).
The bright side is that the majority of those who do not believe in bitcoin will leave the market, making the Bitcoin healthy
The collapse of all the altcoins is the biggest evidence of its weakness and its absolute dependence on the bitcoin.(We do not need more than 1,000 coins)

[dothebeats]

That's not a bitter truth but rather a dumb and obvious one. People who invested back in November-Dec who believed that the market would be able to hold such an artificial pricing are the ones who are at fault of the crash, given that they added so much weight in to an already heavy and unstable pricing. No wonder whales were so happy during that run since they raked in a huge profit for themselves, dumping on the overly-optimistic ones who don't know anything about the markets but still decided to give it a go. Right now, the prices are in a slump, but we're still in a good shape considering that we are @ sub-$1000 only 2 years ago.

[talkbitcoin]

...
2.People with 0 crypto knowledge started investing in ICO's.
3.People with 0 crypto knowledge started doing bounties.
(Those are the spammers in Bitcointalk)
...
5.Scam ICO's and useless ICO's came in to play.
6.Because of the ICO flood, ...
...

these are all the reasons why ETH got pumped!
a lot of newbies entered the market thanks to all the bitcoin media coverage. and then they were exposed with a lot of advertisement telling them "THIS is the way to get rich" and THIS was either investing directly in ETH or investing in countless number of ICOs which then needed them to buy ETH!!! so a huge temporary demand was formed for ETH which is not going away as ICOs are dying so ETH price is falling.

and that is a bitter truth...

[Xester]

We cannot escape that fact that many are tempted to buy bitcoin with the hope of getting rich last year only to find out that the price of bitcoin will drop and they lost a big profit, they panic and sell. While some are eager to hold but because of the news on banning cryptocurrency they have lsot their hope and sold all their coins.

[boyshx]

Haha, thats fair enough I guess. However this is really natural to happen and there is no way we can stop that. We have to pass through this hardest time many time in the year cycle. Everyone knows from the past years data that bitcoin always drop itself at the start of year and eventually it goes down in the value. This doesn't last longer depending upon the factors that are affecting it. Then it starts the up surge of the bitcoin as we pass towards the mid year to end of the year. Your point of whales is what true here. They are the smartest people who actually push the market upwards, however the process is really slow but it does happen.

[TheUltraElite]

We cannot escape that fact that many are tempted to buy bitcoin with the hope of getting rich last year only to find out that the price of bitcoin will drop and they lost a big profit, they panic and sell. While some are eager to hold but because of the news on banning cryptocurrency they have lsot their hope and sold all their coins.

Sadly the truth is in the first paragraph of the OP. I would say 98% of the people who are holding crypto dont understand that C of crypto. They are in it to win it in some easy steps and are not willing to spend time doing research and on the long term value of crypto. Again I am not saying that one MUST hold bitcoin or altcoin to make profit. They can sell at times putting a stop/loss target and then planning accordingly.

These people in the market end up making bitcoin look some dipshit asset which crashes like anything. Panic sellers and young blood who are having nervous breakdowns every minute should stop venturing into crypto. Its just not their thing.

[Icey47]

We cannot escape that fact that many are tempted to buy bitcoin with the hope of getting rich last year only to find out that the price of bitcoin will drop and they lost a big profit, they panic and sell. While some are eager to hold but because of the news on banning cryptocurrency they have lsot their hope and sold all their coins.

On a lighter note, there is still something positive since people 'started' to buy Bitcoin. Starting is the best way to learn as opposed to not doing anything at all. Everything that's happening to the crypto market is just all a big cycle and it's no secret that some people will indeed leave especially if they took too much of a hit.