This time I think we’re done for the year. Unlike in July, this time if you look on Reddit there is very little appetite in ‘buying the dip’. People are fed up after the Coinbase shenanigans and are wary about Tether, IOTA, etc.
Bitcoin and almost every other cryptocurrency crashed hard today
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Re: Bitcoin and almost every other cryptocurrency crashed hard today
#32It's almost like everyone was trying to get rich quick and sold when they saw some profit.
Christmas comes early for the cynic.
I guess, but unless you bought in past few weeks, you’re still way up. This is more likely a huge payday for those who held long and liquidated at year end.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#33I blame Bitcoin Cash. But to put things in perspective, the crash wiped out like three weeks of gains. So this is just a counter part to the Bitcoin going through the roof article.
Not saying I agree or disagree, but what's the relationship here between Bitcoin Cash (Bitcoin Crash?) and the drop across the board? If capital is moving into other currencies, it must be a small percentage of the capital, since the others aren't exactly rallying either. Capital's running for the hills.
Just sheer speculation. I was kind of assuming that when Bitcoin Cash hit Coinbase, everyone was looking at it as free money and looking to sell. Because everyone wanted to sell, coinbase didn't open it up, people were getting frusterated watching the price come down and unable to sell. So they started selling other stuff. Again total speculation. I've joined the tin hat club.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#34I used to ask others in last few months, at what point would you be comfortable buying? Is it 20K, 15K, 10K, 5K, 1K, 500$, 100$, or 50$? or less? See, the story changes, what was nice months ago now is an extremely high risk. Myself, I probably woudln't buy unless it's under 100$. Even that is questionable. Reason being, blockchain is a pipedream and BTC is a dinosaur within that dream. What future BTC has but specul…
Why is blockchain a pipedream?
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#35Crash and burn. Much more to come. When even my friends who haven't touched a computer ask me how to buy it..
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#36It's almost like everyone was trying to get rich quick and sold when they saw some profit.
When Coinbase became the #1 app in the App Store, you knew the bubble would soon burst.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#37Earlier quoted context omitted.
Christmas comes early for the cynic.
I guess, but unless you bought in past few weeks, you’re still way up. This is more likely a huge payday for those who held long and liquidated at year end.
You're still way up on paper.
The payday comes when you actually liquidate your position, and you get the funds out of the exchange.
Lot's of people were way up on Mt. Gox.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#38The Big Boys (bankers) entered the market now, so expect some Big Manipulations to happen.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#39It's almost like everyone was trying to get rich quick and sold when they saw some profit.
And anyone who bought in at $15k-19k is left holding the bag, as expected.
Funny thing is not many that bought for 15k will sell below that, so price will drop (as did few times before, when bitcoin experienced rapid appreciation) but it won't drop to the before-bubble price but slightly higher.
It will either very gradually climb from there or stay steady for 3 years or so and then experience next crazy ride up.
Then most of the guys who bought for 15k will sell.
The point is, people buy bitcoin with money they don't need anyways so they can go long and most of them will because bitcoin apparently can't die no matter how many bubble popping it experiences.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#40I blame Bitcoin Cash. But to put things in perspective, the crash wiped out like three weeks of gains. So this is just a counter part to the Bitcoin going through the roof article.
BCH is the catalyst but not the direct cause. It's commonly agreed that BTC price was a bubble. Bubbles need an event to pop them. Coinbase opening support for BCH was that event.