Relax, its just a hard market reset

[goaldigger]

Being optimistic 101. Find possible positive things in all situation. I assume that this market dip is just a hard reset of the market's value where 'virus' or unworthy investors, mostly those who panic sell, forced to withdraw their account because of the dip. With this, all weak accounts will be perished and all remaining strong holders go on to victory. After it has been cleaned, we could now enjoy green fields on our wallet. 2019 will be great again for us crypto holders. Stay focused.

[fibrolit]

Unfortunately, no one can predict how cryptocurrency rates will behave in 2019. On the one hand,I absolutely agree with you, the market has cleared itself of many random fellow travelers. On the other hand,while there is no state regulation, there will be no clarity in the prospects of market development.

[TravelMug]

I really like your optimism though, maybe the weak hands got burned and already out of the market since last year. What's left is the whales and speculators, who keeps on shorting bitcoin that's why the price is having a hard time taking off.

But I would agree that we need to be positive and optimistic that we will soon see a good bounce. Not necessary all time highs, but at least we should move further away from the last bottom of $3.2K.

[btc_angela]

Being optimistic 101. Find possible positive things in all situation. I assume that this market dip is just a hard reset of the market's value where 'virus' or unworthy investors, mostly those who panic sell, forced to withdraw their account because of the dip. With this, all weak accounts will be perished and all remaining strong holders go on to victory. After it has been cleaned, we could now enjoy green fields on our wallet. 2019 will be great again for us crypto holders. Stay focused.

It's actually a correction that we've been witnessing for the past year and I think those panic sellers have sold all their coins. However, we are not out of the bear market and we might not see the market goes on full recovery this year as well, not to burst the bubble but don't put too high expectations so that you won't get disappointed at the end. Just take advantage of every opportunity to book profits. But if you're not comfortable, then don't force yourself.

[Kemarit]

Being optimistic 101. Find possible positive things in all situation. I assume that this market dip is just a hard reset of the market's value where 'virus' or unworthy investors, mostly those who panic sell, forced to withdraw their account because of the dip.

This market dip because we have bubbled in 2017. So once it burst, there's no stopping as the panic sellers was forced to minimized their losses. Or just investors who really don't know what to do in the bear market and chooses to bail out while they can.

With this, all weak accounts will be perished and all remaining strong holders go on to victory. After it has been cleaned, we could now enjoy green fields on our wallet. 2019 will be great again for us crypto holders. Stay focused.

Definitely, the market has been cleansed already, however, it doesn't mean that we will automatically see the market recovering the soonest this year because there's no money coming as well. We need to be patience as the market will be having a hard time bouncing back if their is no catalyst to push the price and make a reversal.

[eminemcookie]

You could be right, but after clearing out those people the market would inevitably take time to recover. Even the most ardent of believers will have their doubts at times and their confidence will have taken a knock with all of the price dips. I know that I am personally less bullish than this time 1 year ago. At that point I was aware a price dip was coming but not when, but I did think the price action was a sign of long-term bullishness. I am still bullish now but a year with little good news takes its toll.

[STT]

Thats a given, market is resetting but the big debate is to what price does it go before buyers match sellers for a more stable price.     The most bearish against BTC want to argue that there is no stable price possible to agree due to its highly virtual nature and the argument being there is no base worth.   
The most bullish believe BTC has such a fast velocity to its circulation it will always be used in transactions and be superior to Dollar which is a digital currency also.   Most of the worth to be argued is in the non centralised worth and its global nature above one economy

[adaseb]

Well from what most people are saying. The weak hands are not out of the market. Instead of taking a loss, withdrawing their funds and moving on with their life. They do the complete opposite and become bitcoin bears.

The social media, this forum, various trollboxes are all saying BTC and ETH are Ponzi's and they are shorting until $1K. They are using high leverage and are absolutely certain that BTC will go down. Basically trading on emotion instead of technical analysis.

And what usually happens when the general retail market is short? A big short squeeze followed by a huge FOMO rally. Then it might drop again however.

[pooya87]

well it is not about "optimism" in my opinion it is all about whether or not you see any potential in bitcoin. if you believe the adoption is just starting then you should also expect the price to continue to rise up because of it and have no worries about these short term dips. if you don't see that potential then you shouldn't even be here!

as for weak hands i believe they are out, and right now the market is mostly controlled by  the whales since even other investors are staying away because they don't want any involvement in manipulated market. and $3k range is heavily manipulated price.

[aris av]

I want the market to stabilize and crypto prices to rise again, but no one knows that in 2019 it will rise or not. And in the current difficult conditions, I chose to be patient in holding on to it.

[DeathAngel]

It’s a simple correction of which we’ve seen a few times already in the past, a big correction of 70%+ usually is followed by a lengthy period of sideways price action (which you should use for accumulation).

[dodgrad]

It’s a simple correction of which we’ve seen a few times already in the past, a big correction of 70%+ usually is followed by a lengthy period of sideways price action (which you should use for accumulation).

Will we call it a reset, or the correction it is about the same. The market was full of investors who do not know what Bitcoin is for and only invested in the fact that their neighbor advised. It ended how it ended. Probably everyone of them sold at a loss and we start the game from the beginning.

[thecodebear]

I would agree the market has been cleansed of weak hands. There are still plenty of people though that think the price will fall, which is why prices will stay in this bottom range for a while, because while there is lots of buying there are just as many people who sell in the 3000s because they think the bottom isn't in yet and it'll crash to the 2000s or even the 1000s this year. The longer it stays in the 3000 range the fewer people who are still in the market will attempt to short it trying to get lucky on a lower price.

I wouldn't expect too much for 2019 though. The bottoming out phase of the last cycle lasted some 9 months. If we say this one started two months ago when it dropped into the 3000s then it could easily be Summer or maybe even Fall before the price finally moves bottom range and starts moving up for good. Good advice is treat this year as an accumulation year (especially the first half of the year) and don't expect solid gains until next year. I don't think we'll see $10k again until probably early 2020.

[buwaytress]

Thought I'd seen all the terms already used but we keep finding new ways to put our emotions in play, I guess!

I could agree with the hard reset analogy, if we see back to past cycles of boom and decline, definitely makes sense and easy to see that hard resets were behind the past declines. But if we do agree with that, then surely 2019 is too soon? Stagnating reset periods have gotten longer and longer. 2020 would be the earliest.

[sunsilk]

Thought I'd seen all the terms already used but we keep finding new ways to put our emotions in play, I guess!

I'm done thinking that 2018 was the shaking of the weak hands and we've used this term for so many times. We're really looking for a reason to think that everything's okay and to keep us encourage.

I'm still thinking of other things to encourage myself and I've been firm that I really believe that this is just the gateway and entry for a better market. We're not yet full so there's more to come for bitcoin, the fact that we're still in bear market still plays on most minds.

[Dreamchaser21]

It’s a simple correction of which we’ve seen a few times already in the past, a big correction of 70%+ usually is followed by a lengthy period of sideways price action (which you should use for accumulation).

More time before we finally recover and this is indeed an opportunity to accumulate strong coins. We should not panic and instead believe that this is just a big correction that will reverse in the future. 2019 is still not sure for cryptomarket to pump, just hope for the best this year.

[khufuking]

I think the panic seller is already gone from a long time, and these market conditions are forcing the true believer to make some moves to obtain some liquidity, you forget that the true believers are all-in when it comes to Crypto whether trading, investing, holding, mining, and so on. When a mining farm closes down due to not be able to cover their expenses for more than 1 year and not only that but they in fact in a huge loss, we can't really say they are unworthy investors. There are real worthy investors that forced to make some liquidation due to market condition.

The only good thing that this downtrend achieved is filtering scam and bad ICO, I feel that investors are making a lot of effort now when researching the projects they are investing in, I hope that this an awareness filtering and not just a thing that will void once the market starts to go up again.

[Rub3n]

Thank god for market resets, more cheap coins to buy! 

[BrewMaster]

It’s a simple correction of which we’ve seen a few times already in the past, a big correction of 70%+ usually is followed by a lengthy period of sideways price action (which you should use for accumulation).

i wouldn't call it "simple" correction though!
we already had about 85% drop which took more than a year and the trend is not yet reversed. nothing about this is "simple". a simple correction would have been a normal bear market that lasted 6 months with about 30% correction (or worst case 50% since this is still a small market) followed by a month or two of accumulation and then slow rise.
what we had was mostly like a year of shoring and then manipulating the market to get those shorts filled.

[exstasie]

I would agree the market has been cleansed of weak hands.

How do you know? If we had seen a classic capitulation (in the technical sense) I'd be more likely to agree. Since there was none, and because sentiment is still a mixed bag between "hope" and "despair" I really doubt all the weak hands are gone yet.