It’s amazing how many people are against crypto currencies for some odd reason. A correction is being called a collapse, this is just pathetic.
Cryptocurrencies are collapsing
31–40 of 122 posts
Re: Cryptocurrencies are collapsing
#32Coinmarketcap shows prices in USD while most cryptos are trading against BTC, so what you’re seeing is mainly the drop of BTC against the dollar. Coins are also dropping against BTC of course, but not all of them, you can see that in an exchange like binance
Re: Cryptocurrencies are collapsing
#33am I in a filter bubble? The OP to me shows bitcoin UP 3% whereas https://cryptowat.ch/ shows it DOWN 15% edit: finally, after 2h delay!
Look at the headers on the OP page. Those are the percentage for 1h, 24h, and 7d changes.
cryptowat.ch only shows the 24 hour change and that matches coinmarketcap.com's value.
Re: Cryptocurrencies are collapsing
#34This site lists 1450 different cryptocurrencies. I wonder how many of them can be used as actual currency. Bitcoin adoption has stalled and at least one big vendor (valve/steam) dropped it because of the price instability.
Why businesses might not use Bitcoin: 1. Bitcoin remains speculative and volatile. This will cause it to be adopted by smaller businesses that can "do things that don't scale". We won't see big businesses support mainstream crypto payments until the demand is high enough to justify the risk. 2. Bitcoin itself is a clamped network, as such the fees are very high. You can't sell Lemonade at your stand with Bitcoin if t…
> We won't see big businesses support mainstream crypto payments until the demand is high enough to justify the risk.
There is also a risk with accepting credit card payments, which is part of the reason why businesses don't actually process credit card payments themselves. They outsource that to a specialized third party that deals with the risks, like Stripe. The same thing is true for Bitcoin; almost every online store uses BitPay, who take care of the claimed volatility risk.
(Also, there was a pretty stable three-year period for Bitcoin from early 2014 to late 2016 or so. Widespread adoption failed to materialize, so it's not like "once it's stable it will miraculously be adopted by everyone".)
> the fees are very high
Yep. Fees, delays, and unreliability are the actual problems of the moment.
Re: Cryptocurrencies are collapsing
#35It seems impossible to understand the fluctuations of the market as it is now. Finding no specific article that explains what this could be due to. Should probably just stick to regular investments.
The market is so small that one or few bigger holders/investors can move with it significantly.
Re: Cryptocurrencies are collapsing
#36Earlier quoted context omitted.
Below 11.5k now and picking up speed.
Picking up speed... upwards? At the moment you posted it turned around, and 31 minutes later it's at 11.9k. Trying to read this short-term things is uninformative. Oh, in the time I typed the sentence above it went from 11.94k to 11.99k.
Yep, it might have bottomed out.
Or maybe it’s a dead cat bounce. It’s amusing either way.
Re: Cryptocurrencies are collapsing
#37Novice crypto question... I read a comment here about 1 month ago someone predicted a correction of BTC value to mind january because some coins would "expire" then. I'm trying to find the comment now to learn more. Anyone have any insight what I'm talking about?
Re: Cryptocurrencies are collapsing
#38A confluence of factors: 1. China cracking down harder: https://www.nytimes.com/reuters/2018/01/16/business/16reuter... 2. South Korea cut off access to banks by cryptocurrency exchanges in December, and access to exchanges by foreign traders. As a result the prices in the country spiked, and the largest price aggregator CoinMarketCap removed Korean exchanges from the index because they were skewing the averages. Thi…
Or it could be, gasp, perhaps bitcoin was overvalued? No, anything but that.
Re: Cryptocurrencies are collapsing
#39I would call it more of a "market correction" than a "collapse."
This is crypto logic. In 'real' stocks this will be called a collapse for today or at least an extremely wild ride.
I wonder how much technical analysis can be done to predict this.
Just HODL!
Re: Cryptocurrencies are collapsing
#40am I in a filter bubble? The OP to me shows bitcoin UP 3% whereas https://cryptowat.ch/ shows it DOWN 15% edit: finally, after 2h delay!
Look at the headers on the OP page. Those are the percentage for 1h, 24h, and 7d changes. cryptowat.ch only shows the 24 hour change and that matches coinmarketcap.com's value.
Bitcoin:
% 1h % 24h
+0.13% +3.21%
# Name Symbol Market Cap Price Circulating Supply Volume (24h) % 1h % 24h % 7d 1 Bitcoin BTC $237,388,220,556 $14,126.10 16,804,937 $12,931,700,000 0.13%