Topic: 45% drop - this is new territory, never seen before - page 2. (Read 964 times)

Great chart otkeep track of the relevant Bitcoin corrections and to keep the FUDsters away from making you panic sell, whe all we've seen is just a very healthy correction of %30, which is clockwork compared to past corrections. We are still on a very uptrend, this correction as I said, pretty much the same as the ones we've seen this year.

If you are worried about the current events, you are NEW. Everyone with a clue is buying this dip, even if it goes a bit lower, smart money is buying while you are crying, this is how it works.

This chart is amazing. Dump is the best thing that could happen to Bitcoin. We need that. We need separate the believers in a new world from those that only want another Ponzi scheme. We need that the dump closes some new coins and stupid projects. We need this blood and Red on the charts.

This action now is in line with previous trend going back to the Spring.    The April May June trend which was broken end of June extrapolated for the current prices matches action now.   It is still in line with that, on July 20th the trend marked a short term top before being exceeded on 5th August so its not all gloom and we are in line.

A price that always rises is pretty much a negative, it shows volatility.   A pullback that confirms previous pricing helps increase volume at various prices and evens out gains, this is better in the long term for most.   Ultimately markets serve a majority and some may see lower price now as a negative but its still a minority I hope.

Actually it is very normal for this to happen in crypto-currencies trading, I guess the OP might be quite new to the crypto-currencies trading scene, and that is why he felt shocked to see this tremendous price dip in bitcoin, that is one of the reason why bankers and analyst warn a lot of investors to take extreme caution when trading in crypto-currencies due to the huge volatility.

That's true, but bitcoin price rise after the dips of up to 45%, I am sure it will still increase more just like the price of all time high just be patient and wait until next year, for sure it will increase.

Many people don’t mind if price of bitcoin will stay at this point or even lower till the beginning of 2018. Here in the Netherlands and EU we should declare all our BTC and pay tax like any other savings. 31.12 is the usual date they take BTC price to calculate how much holders should pay.

Yeah, hopefully this slump will go away soon.

I would even prefer to believe that it was just temporary bad news (the factors you mentioned and others) that caused the price to drop, but as I was cautious about CME futures and the new incentive for market manipulation, others plowed ahead and skyrocketed the price.

Then, the price kept going up even as it was parabolic, which should have scared most reasonable people, IMO.

Anyways, hopefully people will scoop up what the panickers left behind.

it is up 2% and rise about 14,000$ now price is stable less than 15,000$ it is good price.

bitcoin was less than 12,000$ in 2017/Nov

Bitcoin is highly volatile and that simply shows why should stop acting FOMO-ish, thinking they have hit a jackpot with bitcoin.

Bitcoin was never meant to be a get rich quick scheme and sure, with a good demand for bitcoin, it can attain a huge height, but right now, there is not even enough reason for bitcoin to keep increasing in that manner except for the fact that every newbie just wanted to get rich overnight which is not done anywhere.

Lol. No need to bet as I am sure he is worried about the ones he has earned so far.
I wonder how people expect that bitcoin will just keep acting up insanely and raising up just like that without seeing a moment that would bring it down to the level where the main sanity stopped and then sanely start from there.

It has been a terribly huge increase in this year and this is not something that has not happened before and OP needs to go to Google school to do some research.

To everyone watching the HUGE Display of Greed:
The biggest insanity "bubble" in history deserves an exciting response when the fun finally ends.
The people who were here before I came used to care about more than just greed and a fast profit. 

Well this is already a normal situation, after overcoming the bar in 20k, the recession began, of course not 10k but 14k, but I think this is not the price that those who came to bitcoin were waiting for. It was obvious that bitcoin had already outlived itself.

Well, in that case I guess we are both a bit more nuanced than we sound.

Yeah, FUD is everywhere, all the time, that's nothing new. With the masses pouring in, I'm afraid they are more sensitive to the news and will scare more easily, so that's where the panic selling comes from. We actually agree, I just got the impression you were ignoring the many elements that could be contributing to the selling (the bad news). Which you aren't.

As always, let's just hope for the best!

Bottom line, there's a lot of bad news all the time. People make up fake news (Mike Novogratz claims BTC will drop to 8k, when in reality he just said that would be an "extreme", but news networks are acting like it's his main prediction, which is fake news).

There is so much FUD in this whole market, yet the price has continually gone up.

There has to be something really bad, news-wise, for people to abandon the market based on that. Otherwise, it is just panic-selling, which I definitely believe the last few days were.
AKA it was not justified, but an inevitable correction by weak hands.

I said no **really** bad news (for example, SEC declares Bitcoin ban) I am aware of most of what you just said.

In literally every single moment of Bitcoin, there are FUD factors constantly. People don't see them when the price is rising because of the mania. It is only when the price is dropping that we begin to see all this stuff in the background.

*The mass media has always spread FUD, 24/7. It always tells people "the next crash is coming". By that logic the market would have never gotten past 3k.

*Tax obligations have been around in the US since like 2015. Reminders are always there. Similarly I'm sure with other countries. The Belgian tax on profits will cause people to sell for losses? I doubt it.

*Small factors like insider trading by a few individuals --accusations-- are thing I really can't take seriously. We literally have CME futures, where billionaires can short and manipulate the market if they wanted to. No one seemed to care then, so I wouldn't think it would matter now.

*Some of the stuff I didn't know (like Belgian taxes, and I don't care what Roger Ver is up to), but most of the stuff you are saying is nothing new or special - transaction problems, mass media, taxes.

Maybe I am just overestimating the conviction of some traders, but honestly anyone who has been in the market for more than a few months should *probably* not be afraid of this, unless they were one of the weak hands to begin with.

BTW, there are other factors you haven't even mentioned, like the unstable Asian market, the fact that Bitcoin is untenable as payment (so must be a store of value) as of now, and CME market manipulation.

Sometimes I'm amazed by the ignorance of some people on these boards. I'm a hodler myself and remain bullish, I always expect people over here to be at least as informed as I am, but get disappointed every time.

Zero bad news you say?

How about the mass media reporting that one of the creators of bitcoin.com no longer believes in BTC and is selling it all (which is causing FUD, even grandparents talk about it)?
How about the hundreds of thousands of unconfirmed transactions (causing FUD)?
How about the clogged network and the attack on the network (multiple accounts spamming transactions every few seconds for no reason, losing money in the process), causing FUD?
How about coinbase being accused of insider trading, causing FUD?
How about Roger Ver pushing BCH, causing people to doubt the effectiveness of BTC (causing FUD)?
How about the price slowly dropping for multiple days now, causing FUD?
How about the Belgian media reporting the Belgian government wants to tax BTC profit with 30%, causing FUD?
How about the mass media in the U.S.A. reminding people of their tax obligations, which many people don't understand, causing FUD?
How about the Dutch mass media article about the BTC bubble, recommending everyone to get out as soon as possible (causing FUD)?

Man I could make the list much longer than this, but I believe my point came across. Zero bad news, really?

Don't get me wrong, again, I'm still bullish, but please keep your eyes open and try to understand what's happening and what's contributing to the FUD.

We needed weak hands and blind money to join the market.
That is literally the only way to make money on Bitcoin now, with the widespread adoption.

Then, due to Christmas withdrawals, people maybe panicked and sold everything. It was bound to happen sooner or later.

I can't believe some people would actually sell at a loss with zero really bad news, and just because the price started dipping. But that's probably what happened.

Sometimes I think "this is the end" for Bitcoin. But then I remember that "HODL" is meant to be taken seriously, and that the digital currencies market cap is only 0.5 Trillion (AKA a tiny drop of water in a pond).

dude just relax, it's understandable if you consider how popular bitcoin has become. crazy stupid money has been flowing in BTC and the new investors panicked and sold. everything is just fine

But then what did you expected? The price of bitcoin rose incredible high in a matter of days and sometimes in hours it is obvious that a correction of this size was needed, the movements are too abrupt but nothing that is out of the real of possibility taking into account bitcoin volatility.

45% drop is just normal day in crypto