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kingcolex

sr. member

Activity: 254

Merit: 1258

Quote from: AltMoses on December 22, 2017, 01:50:17 PM

Quote from: Chimera90 on December 22, 2017, 09:18:34 AM

It's profit taking. People got in to make some fast money.. Christmas is an expensive time and people need liquidity.

Jan - people want to become rich again and have grand visions for the year.. price will jump again

When many people are in panic, wise ones are acting to gain more profit.. Just don`t sell at the bottom, contrarywise, it`s a good time to buy

Definitely and right now is the time before we see a boom, almost everyone is in agreement that we have growing pains with transactions and fees even if Bitcoin is an asset and not a currency. If lightining does hit soon we could see a huge boon to price.

farwellbit

full member

Activity: 287

Merit: 102

Quote from: Svelto on December 22, 2017, 12:17:08 PM

This type of fuds happened almost every month. I am holding my BTC and taking this opportunity to buy more BTC with my Christmas bonus. Just like the China drama, the price will bounce back high after awhile.

Yeah holding is the best thing to do know because at this time if you sell your coins this may give bitcoin a loss and price may fall more so wait for some days so that new investors can come over on the place of previous one and price will again rise and this time rising rate will be very high as compared to the previous time so be hopeful don’t leave the side of bitcoin and you will get what you are fetching from your mighty coins.

ihaveaquestion

full member

Activity: 563

Merit: 101

The social media is the first cause of everything, they are just trying to spread as much fud as they can in order to create panic all over the community. Of course that this is not fair, but that is what we have at the moment.

AltMoses

full member

Activity: 420

Merit: 104

Quote from: Chimera90 on December 22, 2017, 09:18:34 AM

It's profit taking. People got in to make some fast money.. Christmas is an expensive time and people need liquidity.

Jan - people want to become rich again and have grand visions for the year.. price will jump again

When many people are in panic, wise ones are acting to gain more profit.. Just don`t sell at the bottom, contrarywise, it`s a good time to buy

babygun

sr. member

Activity: 2170

Merit: 254

I knew there was a correction coming, but didn't expect it would happen today. It is a massive drop of -15% and more, but price is going up again right now. Tomorrow will be an interesting day, will we see another drop or will it rebound ?

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: freightjoe on December 22, 2017, 11:44:08 AM

Quote from: Jerusareth on December 22, 2017, 11:41:17 AM

For as long as Bitcoin has a price then it's okay, and it's not dead. A thing that goes up drastically will go down drastically and that was normal since then so let's just relax to this kind of matters with Bitcoin.

No - you are simply wrong. Bitcoin has never dropped 45% in less than 100 hours. Never. And that is a simple fact.

You need to stop spouting this. Other people already pointed you in the right direction.
Either you are uninformed or you have a malicious agenda (more likely).

Educate yourself here if you are ignorant:
https://www.investing.com/currencies/btc-usd-historical-data

Example: $230 to $93 between April 9 and April 13, 2013. Less than 100hr, about 60% decline.

Case closed.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: ?? on ??

Quote from: QuestionAuthority on December 22, 2017, 09:46:34 AM

Oh, come on kingcolex. You’ve been here long enough to know what’s going on. Major bitcoin holders have run the price up to a unrealistic ridiculously high point. Hype and media attention have helped create a buying frenzy driving the price up. The major holders cash out for a fat stack of fiat so they can buy that island in the Pacific they’ve been drooling over. Then then they stop and let it recover again. Rinse and repeat. I’ve watched this happen 20 or more times since I’ve been here. They can’t let it drop too far or they’ll lose too much profit. I doubt it will go much below 50% of its ath (which would make the recovery time too long for the rinse cycle). Everyone just needs to spot the beginning of a whale dump and jump on the bandwagon. Then buy back at the bottom. That’s what day trading is all about. Fools lose and the rich get richer.

https://www.investopedia.com/articles/trading/06/daytradingretail.asp

I am sure this is a part of it and probably a big part but I think we can't forget to attribute so many random people buying it and being easily fooled and scared. That along with big players and insider trading.

Sure but the “random people” are the key ingredient to the recipe. If there was no new influx of people buying in there would be no suckers for the whales to take advantage of and profit from. The “big players”, whales, Tim Drapers, Winkledouches, Barry Silberts, and Andreessen Horowitz are the bitcoin winners. They hire the top strategist/day traders and profit from and create the swings. They profit from the instability at the expense of the “random people”. Individuals have no business in bitcoin at this point. One missed fork or adjustment in the system will leave them penniless. They no longer have the luxury of just buying bitcoin and forgetting about it for 20 years or willing it to their kids. They need to eat, breath and sleep bitcoin to stay ahead of the game. ‘Random people” (poor people) don’t have the time to do that.

We’ve come right back around to the 1% screwing the 99%.

Wilhelm

legendary

Activity: 1652

Merit: 1265

Quote from: freightjoe on December 22, 2017, 11:44:08 AM

Quote from: Jerusareth on December 22, 2017, 11:41:17 AM

For as long as Bitcoin has a price then it's okay, and it's not dead. A thing that goes up drastically will go down drastically and that was normal since then so let's just relax to this kind of matters with Bitcoin.

No - you are simply wrong. Bitcoin has never dropped 45% in less than 100 hours. Never. And that is a simple fact.

And if this never ever happened before what is your conclusion?

fulmetal08larz

full member

Activity: 476

Merit: 124

Bitcoin has been through this kind of roller coaster ride of its price. Combine the FUDs with profit taking of most people for their expenses this coming holiday and panic selling of those who have weak hands - a drop like this is somewhat expected, and in my opinion, it is a healthy correction and a badly needed one. Bitcoin and its technology is always here to stay and have already proven itself as the most remarkable innovation of today's generation. It has been a wonderful and prosperous year of 2017 and I am hoping for a better and fruitful New Year 2018. Happy Holidays everyone!

Svelto

sr. member

Activity: 686

Merit: 257

This type of fuds happened almost every month. I am holding my BTC and taking this opportunity to buy more BTC with my Christmas bonus. Just like the China drama, the price will bounce back high after awhile.

freightjoe

full member

Activity: 238

Merit: 109

Quote from: Jerusareth on December 22, 2017, 11:41:17 AM

For as long as Bitcoin has a price then it's okay, and it's not dead. A thing that goes up drastically will go down drastically and that was normal since then so let's just relax to this kind of matters with Bitcoin.

No - you are simply wrong. Bitcoin has never dropped 45% in less than 100 hours. Never. And that is a simple fact.

Jerusareth

jr. member

Activity: 73

Merit: 1

For as long as Bitcoin has a price then it's okay, and it's not dead. A thing that goes up drastically will go down drastically and that was normal since then so let's just relax to this kind of matters with Bitcoin.

scottykarate

member

Activity: 70

Merit: 10

Quote from: aznboy84 on December 22, 2017, 11:19:01 AM

The price is slowly recovering right now, and we all know that this was a weird dip.. because it has been caused by the big masses in here.
They just wanted to manipulate the price as much as they could, and see what is happening right now.. It is going up again!

I think we saw the people who bought in within the last month or two exit, coupled with profit-taking for Christmas.

yamortsac

full member

Activity: 154

Merit: 111

I think bitcoin price now is decreasing because some investor is selling their bitcoin now since they need their money because christmas is now coming. I think after this christmas bitcoin price will start to rise again so better add some more bitcoins

aznboy84

full member

Activity: 137

Merit: 100

The price is slowly recovering right now, and we all know that this was a weird dip.. because it has been caused by the big masses in here.
They just wanted to manipulate the price as much as they could, and see what is happening right now.. It is going up again!

scottykarate

member

Activity: 70

Merit: 10

Seems to have found decent support at $11,500/$12k.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

this is just a Christmas gift from the whales to the whole community to help them buy bitcoin at a huge discount of 40% off.
of course not everyone appreciates a great gift like that, so thy will ignore this dip and then regret it later on. and most of the newbies are seeing this as the end of the world because this is their first time seeing price drop of this magnitude going on.

Golftech

hero member

Activity: 2128

Merit: 520

I still believe that this is just a correction where those who already gain a lot are a;ready cashing out their earnings and shaking the market, after sometime new comers will buy those cheap coins and bounce back will happen again, its been a roller coaster ride if you are looking for much better
gain, then always remember to buy low and sell high to the point that you think you already have enough.

gurunanakji777

full member

Activity: 2184

Merit: 100

SOL.BIOKRIPT.COM

Btc is always worth to hold, on the other hand BCC is still new in the market it has a long way to go. Even some people made good profit from BCC in the recent rise. Bitcoin drop is just a market correction. Now is the best time to buy bitcoin again its a good opportunity to make some good money again.

athanz88

sr. member

Activity: 476

Merit: 359

Quote from: kingcolex on December 22, 2017, 09:16:09 AM

So as we know we are going through a bit of a dip. Now let's ask why? One we recently saw a lot of money come into bitcoin from outsiders who aren't even standard investors, this means a few things. Not knowing how Bitcoin works, not having strong hands and listening to standard news outlets for information. We all know bitcoin cash crew has taken this as an opportunity to fud and muddy the waters to try and overtake Bitcoin, we have all seen the headlines, bitcoin CEO sells all bitcoins for bitcoin cash and coinbase having insider trading. (By the way why wouldn't the CEO of bitcoin cash already have traded his true bitcoin for bitcoin cash I mean he must believe in his own coin) Norwegian banks warning people making world wide headlines even though they don't understand.

Fud from random people everywhere, it's a side effect of becoming popular.

Just hold and remember for ever coin sold there is a buyer , we are having the lighting network come Q1 2018 and segwit is gaining use.

Thanks for your thought, a high rank's thought is a great writing to read, and it is more trustable. Let's be honest, there are people who panic from FUD stated by "newbie rank" account that always come whenever situation is bad for Bitcoin, and I hope there are more high rank people who share a thought in this topic.
If we guys want to search and learn enough, there are many holes in this scheme, like what you just said :
1. Why does the CEO of bitcoin cash didn't trade his bitcoin to bitcoin cash.
2. Is there any prove if bitcoin.com CEO sold his coins? It doesn't always true when some famous people make a statement, especially when I don't see the prove of it.3.
3. Come on man, they are promoting bitcoin cash and bashing bitcoin with a newbie account? Obviously they are hiding their real account because the real account is used to get Bitcoin from this forum, they don't want their income from their real account disturbed.
This is what i thought. Thanks for your thought sharing man, really appreciate it for a newbie like me. With a great popularity, comes a massive enemies to take down that popularity.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

why are we asking why?!

this may seem like the biggest drop and be one of a kind but in fact this year we at least had 4 big drops exactly like this right after a big rise exactly like rise to current ATH!

constant rise from $5600 to $19666 = +250%
then major drop from $19666 to $11160 = -43%

constant rise from $2970 to $7888 = +165%
then major drop from $7888 to $5555 = -30%

constant rise from $1800 to $4797 = +166%
from $4979 to $2972 = -40%

constant rise from $891 to $2980 = +234% (ignoring 1 drop here)
from $2980 to $1830 = -39%

it really doesn't need a reason. yeah week hands, FUD and all that are always true. and this is how "corrections" work in bitcoin.

cosmoo

hero member

Activity: 729

Merit: 502

I prefer hold my funds and not panic. It was already this autumn. Bitcoin dropped from 5,000~ to 2,000~ and increased to ~20,000. Just wait Cheesy

Temporel

full member

Activity: 224

Merit: 100

Quote from: QuestionAuthority on December 22, 2017, 09:46:34 AM

Oh, come on kingcolex. You’ve been here long enough to know what’s going on. Major bitcoin holders have run the price up to a unrealistic ridiculously high point. Hype and media attention have helped create a buying frenzy driving the price up. The major holders cash out for a fat stack of fiat so they can buy that island in the Pacific they’ve been drooling over. Then then they stop and let it recover again. Rinse and repeat. I’ve watched this happen 20 or more times since I’ve been here.

This ^^^^^^^^ but it may go below 50% IMO

UsernameBitcoin

sr. member

Activity: 530

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

The price has risen so high in such a short timespan it is guaranteed to crash at some point. This growth simply isn't sustainable. You can't increase something in price by 20x in 1 year and expect it to stay that way forever. At some pint we are going to see a very, very big price correction the likes of which has never been seen before in crypto. Thousands of people are going to lose thousands of dollars - or millions. Some people may commit suicide. This happened in 2013/2014 crashes and there is no reason to think it won't happen again. All the signs point to a massive dump coming very soon, and we all should prepare for it to the best of our abilities before hand.

mobnepal

legendary

Activity: 1218

Merit: 1006

When people from non technical background start to pour their money than it will just become a playground for whales who know how to manipulate whole market. Addition of bitcoin future allowed those whales to bet against market and use some of their own bitcoin to create fud and dump a little bit, which started a chain reaction of panic selling from all those new investors who don't know how trading works and difference between actual dump/crash and correction.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: kingcolex on December 22, 2017, 09:16:09 AM

So as we know we are going through a bit of a dip. Now let's ask why? One we recently saw a lot of money come into bitcoin from outsiders who aren't even standard investors, this means a few things. Not knowing how Bitcoin works, not having strong hands and listening to standard news outlets for information. We all know bitcoin cash crew has taken this as an opportunity to fud and muddy the waters to try and overtake Bitcoin, we have all seen the headlines, bitcoin CEO sells all bitcoins for bitcoin cash and coinbase having insider trading. (By the way why wouldn't the CEO of bitcoin cash already have traded his true bitcoin for bitcoin cash I mean he must believe in his own coin) Norwegian banks warning people making world wide headlines even though they don't understand.

Fud from random people everywhere, it's a side effect of becoming popular.

Just hold and remember for ever coin sold there is a buyer , we are having the lighting network come Q1 2018 and segwit is gaining use.

The era is just a retracing step for bitcoin and nothing wrong about it I believe. Bitcoin has had an overwhelming run on bullish and it is natural that it "shield off some fats". It will definitely continue its run and is just about holding too as you concluded.

I don't also encourage selling for a long time investor.

ravedien

member

Activity: 76

Merit: 10

Calm ur tits, it will bounce back tomorrow, hodl and watch weak hand people burn

lucid_guy

newbie

Activity: 5

Merit: 0

###################### WARNING ABOUT CRYPTOS ########################
The 2008 financial crisis caused 500,000 CANCER DEATHS!!!
(If any doubt, just do your own research).

9/11 WAS ### A JOKE ### IN COMPARISON

Who is mainly RESPONSIBLE FOR THIS CRIME? #### BANKERS ####
Have they been to JAIL? #### NO ####
WHY? JUST THINK.

##### NEVER FORGET THESE INNOCENT 500,000 VICTIMS WHO SUFFERED BEFORE DYING ##### (LIKE SHOAH)

Now, bankers & central banks are afraid to lose their jobs because of cryptos,
so they try to scare governments about:

1) their FIAT currency
2) losing control and power
3) losing taxes revenues

What they currently do is create ARTIFICIAL HUGE VOLATILITY on cryptos (they have enough funds for that).
They want an EXCUSE to "protect" investors.

In reality, they just want to take CONTROL (REGULATIONS OR BAN)

They also SCARE PEOPLE ON SOCIAL MEDIAS, PRESS, OR TV (CNBC for instance).

DO NOT LET THEM F#CK YOU AND YOUR FAMILY ONCE MORE.

WE DON'T NEED ALL THESE MOTHERF#CKERS ANYMORE.

===> ACCEPT CRYPTO PAYMENTS FOR ANYTHING INSTEAD OF FIAT. BUY MORE CRYPTOS. <===

NOW YOU KNOW. PLEASE SPREAD THE WORD. THANKS

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Oh, come on kingcolex. You’ve been here long enough to know what’s going on. Major bitcoin holders have run the price up to a unrealistic ridiculously high point. Hype and media attention have helped create a buying frenzy driving the price up. The major holders cash out for a fat stack of fiat so they can buy that island in the Pacific they’ve been drooling over. Then then they stop and let it recover again. Rinse and repeat. I’ve watched this happen 20 or more times since I’ve been here. They can’t let it drop too far or they’ll lose too much profit. I doubt it will go much below 50% of its ath (which would make the recovery time too long for the rinse cycle). Everyone just needs to spot the beginning of a whale dump and jump on the bandwagon. Then buy back at the bottom. That’s what day trading is all about. Fools lose and the rich get richer.

https://www.investopedia.com/articles/trading/06/daytradingretail.asp

vv181

legendary

Activity: 1932

Merit: 1273

Sooner or later a large correction has to come, its impossible for Bitcoin price going parabolic all the time, it's just crazy. Today dips are really good for future trades, and it also helps for someone who wants to jump into Bitcoin at the low price.

Quote from: kingcolex on December 22, 2017, 09:16:09 AM

Just hold and remember for ever coin sold there is a buyer , we are having the lighting network come Q1 2018 and segwit is gaining use.

I doubt this is true, The lightning network has no official ETA. Or you have some reliable sources about this?

Chimera90

newbie

Activity: 4

Merit: 0

It's profit taking. People got in to make some fast money.. Christmas is an expensive time and people need liquidity.

Jan - people want to become rich again and have grand visions for the year.. price will jump again

kingcolex

sr. member

Activity: 254

Merit: 1258

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Topic: Deleted (Read 409 times)