This is nothing.

[rogerwilco]

I'm not forecasting whether or not it will drop more. But I am saying that, as drastic as the movement seems to have been, this has gotten nowhere close to the beartard targets. Even $350 is a long way off.

[zeroday]

OMG. Falllling is right! We are doomed!!!

[Brewins]

We need more time for it to appear big in the graphs. Let us see things some weeks from now

And it is more the dancing over a frozen lake situation that worries me, not the fall by itself.

[alexeft]

We are actually dancing on top of a rocket that's ready to launch!!!

[Dalmar]

Most of the fiat invested in bitcoin was bought at prices over $500-$600.

This crash may look insignificant at face value, but it is creating many many bagholders (i.e. new resistance for future rallies). Hence, why bitcoin has the greatest difficulty going over $700 as of late.

[JimNastics]

Most of the fiat invested in bitcoin was bought at prices over $500-$600.

This crash may look insignificant at face value, but it is creating many many bagholders (i.e. new resistance for future rallies). Hence, why bitcoin has the greatest difficulty going over $700 as of late.

Sshhhhhhhhhhhhh, stop talking sense in here!!

[addroup]

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

[alexeft]

Most of the fiat invested in bitcoin was bought at prices over $500-$600.

This crash may look insignificant at face value, but it is creating many many bagholders (i.e. new resistance for future rallies). Hence, why bitcoin has the greatest difficulty going over $700 as of late.

It's always like that before a rally. The people who just bought become .... bagholders. They later become hodlers!!! 

Nothing to see here .....

[alexeft]

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

[Torque]

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

Exactly.  There is no such thing as a "healthy" correction.  Is holding bitcoin in hopes that it will rise, unhealthy?  If so, then we are all in trouble.

The only thing that changed was many holders' near term expectations.  People rushed back into the market in April, and were holding for 5 months all through the summer, betting on a rally at the end of it that never came.  Because silly TA charts, graphs, and lines told them so.

Bitcoin is Honey Badger; it doesn't give an f-- about silly charts, graphs, and lines.  

[thezerg]

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

Over leverage.  Bitfinex long leverage has almost halved, and short leverage has doubled so the ratio long/short is 1/4 what it used to be.

[asganauei]

We are actually dancing on top of a rocket that's ready to launch!!!

This sounds exciting but we were dancing so many times on this rocket that we broke it...

[alexeft]

Nope! Summer's almost over, people are back...

[Torque]

I don't think that somebody can really say that this recent drop in value is a "big crash", infact it was only an healthy correction

What was the error that was corrected?

Over leverage.  Bitfinex long leverage has almost halved, and short leverage has doubled so the ratio long/short is 1/4 what it used to be.

Yeah, but leveraged longs can rush back into the market at any time.  There's nothing to stop them if they start to see upward volume movement.

It's not like leveraging long was a one time thing.