Topic: 45% drop - this is new territory, never seen before - page 3. (Read 964 times)
legendary
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I’m glad to see this was an unseen event in bitcoin’s price history, as I found it quite normal. That means I am prepared for anything it may come. No matter if there have been similar drops in the past, as it seems, what I was thinking when it was rising so fast is that at some point we would have a strong correction. I am mentally prepared for a new ath now.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
It's not normal, that is something most people here can agree on. However, some people are here long enough to not see it as something interesting other than it being a nice investment opportunity. I too have experienced these levels of drops, both with Bitcoin and altcoins at the time SilkRoad was shut down by the FBI, and trust me, the current drop is a joke compared to that drop. Not in terms of how much it has gone down percentage wise, but more the time frame. It was a matter of minutes the crypto market tanked with like 50% in 2013. I highly enjoyed the bottom yesterday. I managed to buy some coins well under the $12,000 level which I wasn't expecting to buy at this year at all.
Bitcoin was basically a non-event back then
In other words, we can't really compare what was in 2013 (or earlier, for that matter) to what we see and experience right now. For example, back in 2013 there were no altcoins sticking around, I mean as powerful as they are today. Bitcoin was an undisputed champion in those good old days, one and only. This is no longer the case, obviously. And while we are at it, Litecoin has recently risen well above 100 dollars (actually, it went over 300 dollars). Do you remember that I promised you not to forget about that? Are you still disinterested in this coin as you were a few months ago?
.
People tend to have short memories.
People tend to have short memories.
** remembers $17.x drop to $0.0000001 on Gox **
Someone else do the calculation
In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
And the drop was extremely short lived. We have crossed $15k now. The volatility is high, but you should remember that we started December 2017 at around $10k, we are still up 50% during the month. And that is in spite of people talking about the drop is if it were doomsday.
People tend to have short memories. I hope they keep this drop in mind when Bitcoin crosses $20k again as well.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
It's not normal, that is something most people here can agree on. However, some people are here long enough to not see it as something interesting other than it being a nice investment opportunity. I too have experienced these levels of drops, both with Bitcoin and altcoins at the time SilkRoad was shut down by the FBI, and trust me, the current drop is a joke compared to that drop. Not in terms of how much it has gone down percentage wise, but more the time frame. It was a matter of minutes the crypto market tanked with like 50% in 2013. I highly enjoyed the bottom yesterday. I managed to buy some coins well under the $12,000 level which I wasn't expecting to buy at this year at all.
In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
I would say I agree with you, I think this is one of the most worst crash I've seen in bitcoin market, well except for the 2013 crash. During the height of the China crisis, I only see like 30% dip if I'm not mistaken. But this last 3 days was totally out of this world. And look at how many thread started saying that bitcoin is died. LOL. That makes my day. However, its over now, you can go out of your home now, bitcoin has recovered all other alts as well. However, if the purpose of this thread is to scare newbies in selling their bitcoins, I hope you they didn't listen with your schills. Its really annoying sometimes that just like I said, I just laugh at it. But at least bitcoin is already on its road to $20,000 once more and thread like this should not be thrashed so that we can go back and see how OP's reaction when he sees that bitcoin is going up once more.
after USA market open and coinbase start at 14,000$ bitcoin stabilize more than before.
bitcoin now trading more than 15,000$
bitcoin now trading more than 15,000$
I try to avoid using the "ignore" button as many trolls and much FUD can be amusing.
I've only used it for really obnoxious, insulting trolls like Notlambchop and Matthecat.
I've come close with r0ach but he's such a laughable buffoon I've let him go despite his bigotry and the sheer number of his posts.
I've only used it for really obnoxious, insulting trolls like Notlambchop and Matthecat.
I've come close with r0ach but he's such a laughable buffoon I've let him go despite his bigotry and the sheer number of his posts.
I never use it.
I like to read r0ach and kwukduck posts. They are very amusing.
FUDers gonna FUD and the 'ignore' button is there if you need it.
I try to avoid using the "ignore" button as many trolls and much FUD can be amusing.
I've only used it for really obnoxious, insulting trolls like Notlambchop and Matthecat.
I've come close with r0ach but he's such a laughable buffoon I've let him go despite his bigotry and the sheer number of his posts.
May I please call bullshit on this entire thread?
(...)
OP, get your facts straight before spewing nonsense.
(...)
OP, get your facts straight before spewing nonsense.
Given the OP's post history, I'm starting to get the impression it might be deliberate. At the very least, there's a distinct trend of threads that could potentially be construed as FUD. Still, Bitcoin is more than a little resilient to being undermined by the efforts of its detractors, so it doesn't really matter either way. FUDers gonna FUD and the 'ignore' button is there if you need it.
May I please call bullshit on this entire thread?
This dip is not the biggest nor steepest dip in Bitcoin's short history.
Many long-term holders will remember the afternoon (UTC) of April 10, 2013 when the price fell by over 60% in less than 7 hours.
That dip from $266 to $105 was just the start of a 2 day drop all the way to $54.24, a drop of almost 80%.
It was a gut-wrenching experience for many, but some of us gained solace from remembering the crash from the Great Bitcoin Bubble of 2011 and how we eventually surged on to newer highs, and steadfastly held on to our coins.
This was long before the word "hodl" had been drunkenly coined after the second 2013 bubble. Anyone who hadn't learned to hold by then is a fool.
OP, get your facts straight before spewing nonsense.
This dip is not the biggest nor steepest dip in Bitcoin's short history.
Many long-term holders will remember the afternoon (UTC) of April 10, 2013 when the price fell by over 60% in less than 7 hours.
That dip from $266 to $105 was just the start of a 2 day drop all the way to $54.24, a drop of almost 80%.
It was a gut-wrenching experience for many, but some of us gained solace from remembering the crash from the Great Bitcoin Bubble of 2011 and how we eventually surged on to newer highs, and steadfastly held on to our coins.
This was long before the word "hodl" had been drunkenly coined after the second 2013 bubble. Anyone who hadn't learned to hold by then is a fool.
OP, get your facts straight before spewing nonsense.
Such a big drop in the price of bitcoin as this is something scary, imagine the people who are entering the world of bitcoin early, those people with the highest expectations buy bitcoin at a price of $17000 and in less than a week the price drops for $12000, how should these people be feeling? disappointed, I expect the price to recover in the coming months.
There have been far worse cases back in 2011, 2012 and 2013 that you and OP are missing. 60% declines are normal back then and the people aren't even panicking. It's not a problem, and there are penny stocks that experiences the same damn thing every day but no one bats an eye on them. Those people panicking are either newbies or weak-handed. We've experienced far more crazy droughts and downtrends than most new members in here. We're not even panicking, in fact, we're just holding and buying more.
I think there is bigger drop than this before, I dont know when but I am pretty sure there is. Also I view this dip as a healthy correction, a lot of people want to buy at around 10 000$ but the price went up too high too fast. Now they have a chance to buy bitcoin at a cheaper price than 3 days ago. Also bitcoin is all the way up again with all the altcoins, this is going to a fun ride
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
Ever.
2013 - 1200USD, there hasn't been a rise like this, ever!
2014 - Gox dead, there hasn't been a scam like this, ever!
2014 - we're at 100 USD there hasn't been a drop like this, ever!
2017 - June $3000, there's never been a rise like this, ever, it's a bubble!
2017 - September $5000 it's a bubble, it's going to correct!
2017 - November $7000 all newbies start to go in. Money money! We'll be millionaires! $_$
2017 - December $13000 "my friend bought w weeks ago and now he's $6000 richer, quick woman, pack your shit we're selling the house!"
I will never put my money in bitcoin, EVER. Bitcoin stinks!
Indeed, you just have to go digging into the old threads and even old media reports (I say old but they're really just less than five years ago!) to see all the same emotions played out over the years. From disbelief and unbridled joy when Bitcoin went from $5 to $50 (I think that was the first mention of a bubble) crushed spirits when almost overnight China real news brought Bitcoin from a mighty high of past $1200 to humbling hundreds.
When I properly entered last year, people were generally upbeat about Bitcoin, just patiently waiting for it to build back up to $1k again. Of course, Ethereum and other alts were the ones making news, with DAO and Monero/dark market chatter dominating. Not a single person I'd met believed a recovery was ever on the cards so soon.
Recovery? Crash? It's a rollercoaster, it'll always be one. Let's try and remember to enjoy the ride.
Actually I am glad this happened. They was a much needed drop. People who invested earlier has now cashed out their profits. Now others are getting their chances and we might be able to reach a new all time high with more stability. And don't forget, we have also seen a 40% crash on September but the price did recover soon.
thanks for this chart iram1011, it's always good to put in perspective. Regard to it this 45% is nothing. And it's already on the way to recover.
Do you have the same one with pump ?
Do you have the same one with pump ?
In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
This is what I've been telling literally for years now
But people are stubborn in their pipe dreams, wishful thinking, and obsessive imagination. You could read it here and there now and then that with Bitcoin prices rising volatility should eventually decrease. Nothing is farther from truth than that. With higher prices we are set to see even higher, runaway volatility. This is sort of a given given the limited monetary and market supply of bitcoins. There is no escape from that. Well, at least not until over 90% of coins are used for real commerce, not for rampant speculation as the thing is. But this is even farther from reality than Bitcoin volatility going away
In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
And now we've rebounded back up to $14500 so what's your point?
Volatility is normal in crypto and every single person who trades crypto knows that risk. There is always a risk that your position will get liquidated or whatever the next day because of a flash crash, but right now we're looking to recover from this flash crash.
It's definitely not the first time we've seen it. There are at least 2 instances this year, where the same thing happened. First you've got the time when price was nearly $5k, back to $3.2k within a day or two. That's 40% or so. Then, price rose to 7.4k and back down to 5.7k. So you saying that it's the first time we've seen this, is simply false.
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In less than 100 hours the price dropped from 19.700$ to 10.890$. That is a 45% drop.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
There has never been a drop like this in such short time in the full history of Bitcoin.
Ever.
"volatility is normal in crypto" I hear many say. But not like what we see today. We have never ever seen anything like this.
but we have seen the price increases higher too and the highest price is $19,700. if you say that the price has never been a drop like this, then we never see the price increase too high like a few weeks ago. but I still sure that the price will be back again and will reach another higher price.
In 2014 it flashcrashed from $600 to $100 in minutes
I think OP is joking though
I think OP is joking though
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