Where’s the Fire? Bitcoin and Major Cryptocurrencies Take Massive Beating

[Lmaooo]

Just before lunch on Wednesday, the crypto market looked like a bear’s den, with all ten of the top cryptos by market capitalization having bled more than 5%.

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

In fact, Tether took a 24-hour loss in market size of at least $100 million, meaning that a good deal of the capital fleeing various cryptocurrencies was not only not heading into Tether USDT, but it was also leaving the market altogether.

CCN | https://www.ccn.com/wheres-the-fire-bitcoin-and-major-cryptocurrencies-take-massive-beating/

[logfiles]

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

Come on, people are into crypto for business, to make profits, and cash out... Don't at one point think that money is going to get pumped in endlessly at one point people will have to cash out and enjoy their profits. So to me, this is all normal, Money is heading back to someone.

[peter0425]

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

Come on, people are into crypto for business, to make profits, and cash out... Don't at one point think that money is going to get pumped in endlessly at one point people will have to cash out and enjoy their profits. So to me, this is all normal, Money is heading back to someone.

Money won't simply disappear, I'm sure that its going to the pockets for all those who sold because of uncertainty cause by this so-called Bitcoin Cash split. But I'm sure that when everything has settled down, those money we lost are soon heading back to crypto sphere. I doub't that they will go to stock market, and unlikely to gold. Bitcoin is still the best investment instrument so in no time we will be back to the green again and the price above $6K.

[davis196]

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%.
Yeah,tether is a really stable coin.Haha...

[Findingnemo]

Its not new in the crypto currency market so we no need to worry too much when the prices fell and the reason for the current price fall is Bitcoin hashrate war and its fork so the condition may settle back when the people knows difference between bitcoin and the bitcoincash.If something is falling too much it maybe a sign of huge bump in the near future.

[cindygirl]

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%.
Yeah,tether is a really stable coin.Haha...

It can't have been because no one knows for certain, there are numerous different theories as for why this crash happened.

Come on, people are into crypto for business, to make profits, and cash out... Don't at one point think that money is going to get pumped in endlessly at one point people will have to cash out and enjoy their profits. So to me, this is all normal, Money is heading back to someone.

Due to the timing and scale of this it was very unlikely to be someone cashing in profits, there have been ample opportunities to do just that over the last 9 months but they chose this time and smashed through a support level in doing so, it seems there's more at play than just profit taking.

[Indamuck]

It's better to think of the glass half full and take advantage of this buying opportunity.  This gives us one last chance to buy cheap coins before the crypto market reaches new all time highs.  This is what seperates the true hodlers from the panic sellers, holding is always rewarded in the end.  Stay patient everyone and don't lose faith.

[kryptqnick]

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%.
Yeah,tether is a really stable coin.Haha...

It can't have been because no one knows for certain, there are numerous different theories as for why this crash happened.

I don't know, I thought it was pretty obvious that the fire is in #4 (Bitcoin cash) with its ABC and SV split. Bitcoin cash has put bitcoin in a dangerous situation for many times. That's why I kind of hate this coin. Oh, another reason is some scandals with bitmain cheating with mining and supporting this coin. This time the disputes manages to bring btc below its barrier that was never broken before. It's a shame, because now it might take even more time to recover, but I hope that what doesn't kill it makes it stronger, so we just have to wait.

[btc_angela]

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%.
Yeah,tether is a really stable coin.Haha...

It can't have been because no one knows for certain, there are numerous different theories as for why this crash happened.

I don't know, I thought it was pretty obvious that the fire is in #4 (Bitcoin cash) with its ABC and SV split. Bitcoin cash has put bitcoin in a dangerous situation for many times. That's why I kind of hate this coin. Oh, another reason is some scandals with bitmain cheating with mining and supporting this coin. This time the disputes manages to bring btc below its barrier that was never broken before. It's a shame, because now it might take even more time to recover, but I hope that what doesn't kill it makes it stronger, so we just have to wait.

That's the sad part. They have their time by having their own coin (Bitcoin Cash) put still this people are dragging us down with all their drama and stuff. We have been enjoying a good price for quite sometime now until we get caught in the crossfire. So it might takes ++ months to recover and be back to our feet. But I'm sure all of this knows that sooner or later we're going back to bullish trend so what we can do is wait.

[nicster551]

Just before lunch on Wednesday, the crypto market looked like a bear’s den, with all ten of the top cryptos by market capitalization having bled more than 5%.

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

In fact, Tether took a 24-hour loss in market size of at least $100 million, meaning that a good deal of the capital fleeing various cryptocurrencies was not only not heading into Tether USDT, but it was also leaving the market altogether.

CCN | https://www.ccn.com/wheres-the-fire-bitcoin-and-major-cryptocurrencies-take-massive-beating/

This is just another way of making people panic and they wish us to leave the market before they would start the new big rally. I really hope so that I am correct.

[rickadone]

Aren't we kinda used to this right now ? I mean at least shouldn't we get used to this already ?
I know I am not. It is still a big shock and a big blow whenever this happens. Bitcoin keeps staying the same price for a looooong time than in an hour it goes up 20% or it goes down 10% or whatever. It is really silly that we actually see the markets stagnant for a long time and started to think the prices would stay the same from now on and only move slightly.

I know I was dreaming of that world, where bitcoin still moves high or low but very little and only go up in price gradually over years instead of this insane movements. Volatility is the only reason why I am still afraid of keeping my bitcoins, I still do but everyday I consider selling them to fiat and be done with this.

[ecnalubma]

Maybe the game now is completely different from the past year, every holder must be cautious with their decisions although there is no concrete reason to panic maybe this is just sort negative sentiment that creates fear and domino effect. My only fear is if the banks cut connections with crypto, but as long the adoption is growing I’m still okey.

[St4yInTh3D4rk]

All the crypto currencies were falling and still keep falling but if that keeps falling for too long then it will greatly affect the crypto investors and miners which may put the future of crypto currencies under question market.The panic sellers need to stop doing what they have been doing for almost a year or it will kill their investment also.The new year is at one month away and it need to bring some positive for the holders or we may see huge crisis in this field.

[Shreek]

there is no problem with this, this is in accordance with my expectations where there will be a bearish market before an extraordinary explosion that will take place at the end of the year before Christmas arrives
everyone needs money when Christmas arrives and also to welcome the new year, Bitcoin experiences a dump to give space to everyone who wants to benefit from bitcoin by selling it before Christmas

[BitHodler]

All the crypto currencies were falling and still keep falling but if that keeps falling for too long then it will greatly affect the crypto investors and miners which may put the future of crypto currencies under question market.The panic sellers need to stop doing what they have been doing for almost a year or it will kill their investment also.The new year is at one month away and it need to bring some positive for the holders or we may see huge crisis in this field.

If you realistically look at the industry, there isn't much left to be hyped up about in the short term. Bitcoin had its run and doesn't seem to deliver anything other than LN being in development.

The same basically applies to other crypto currencies. Ethereum had its run as well and has not much left to impress investors with. Crypto went up too much, too fast. It's an adjustment back to reality.

The only benefit of the current bearish sentiment is that you can buy more coins for the same amount of fiat. I said it yesterday as well, these discounted rates are our early black friday and cyber monday sales.

Use it in your advantage.

[batang_bitcoin]

Why Tether has been described like it was really exempted? it's a stablecoin.

Let's get used to it, there are even more dumps in the past that's more painful than this. Are we going to end this year badly? no one can give you exactly the accurate scenario but just stick to your plan. If you are here to make profits for short term, then you may do it and it all depends on how you will go with the flow right now.

[darkangel11]

All the crypto currencies were falling and still keep falling but if that keeps falling for too long then it will greatly affect the crypto investors and miners which may put the future of crypto currencies under question market.The panic sellers need to stop doing what they have been doing for almost a year or it will kill their investment also.The new year is at one month away and it need to bring some positive for the holders or we may see huge crisis in this field.

If you realistically look at the industry, there isn't much left to be hyped up about in the short term. Bitcoin had its run and doesn't seem to deliver anything other than LN being in development.

The same basically applies to other crypto currencies. Ethereum had its run as well and has not much left to impress investors with. Crypto went up too much, too fast. It's an adjustment back to reality.

The only benefit of the current bearish sentiment is that you can buy more coins for the same amount of fiat. I said it yesterday as well, these discounted rates are our early black friday and cyber monday sales.

Use it in your advantage.

We're in fact below the levels on which we should be. Bitcoin has been dumped in a year more than it was in 2014 and 2015 combined. This bear market is interesting from TA perspective because it played out much faster than the previous one. Makes me wonder if that will be followed by a much earlier and faster developing switch to a bull market. It would seem so.

[niublity]

The rapid decline in the market was caused by BCH, and their internal war forced the depreciation of Bitcoin. Bitcoin depreciated $1,000 in a short week, which is the lowest price in Bitcoin in a year. Maybe Bitcoin is about to disappear.

[gabmen]

The rapid decline in the market was caused by BCH, and their internal war forced the depreciation of Bitcoin. Bitcoin depreciated $1,000 in a short week, which is the lowest price in Bitcoin in a year. Maybe Bitcoin is about to disappear.

I don't think it's about the bch fork anymore since it shouldn't take as low as this for people to realize the difference between btc and bch. Bitcoin has been freefalling pretty much without any major fud to cause it except for panic. I'm curious where the bottom could be.

[secondbtc]

Bitcoin and all other coin price move 50-100% down many times in past
so all this is natural, people must trust their investment because if crypto can grow up to 1000% then it may fall 1000% as well