Topic: Does the 2017 crash “feel” different than the 2014 crash? - page 2. (Read 324 times)

This is true. I signed up for mt gox but my first actual bitcoin purchase was coinbase.

Mt Gox was well on its way to being replaced by the time it died. BitStamp was well established as was coinbase. Bitfinex had started up along with others. we weren't as reliant on Gox as you suggest in 2014.

 the major difference is the level of fear so far is lower and the levels of bearish posts much much lower. We either have further to go or the asset class has matured a bit (or both)

The 2013 crash was more brutal. Remember that there was only MtGox back then having most of the liquidity in Bitcoin. If there was a time to think Bitcoin was going to die, then that was the MtGox apocalypse.

The fact that Bitcoin survived that made me realize how delusional people that think Bitcoin will ever die are. Now we have tons of different sources of liquidity with different exchanges. The fatal 2013 scenario cannot ever be repeated again. The current crash is just a healthy correction after the market went apeshit. At a slower pace, and with much better fundamentals. The bottoms keep being higher than the previous bubble's peaks which is all that matters .This is called progress. Long term we've never stopped going up. Of course short sighted noobs may argue otherwise.

I bought my first bitcoin and litecoin in 2014. Then the market crashed and stayed low for years. I lost interest, and I  felt like I had some worthless internet money hat I wasted real USD on.

I moved on with my life, and kind of assumed that the media hype, and market manipulation (williebot) pushes the price to an unrealistic $1200...and with the fall of mount gox the good times were over.


Than 2017 came along and things picked up...the media hype swelled. Average people like my friends were buying crypto. It climbed to 20K...Than the crash...and pretty much everyone got burned.

What I’m trying to decide in my head...is whether the 2018 crash is like the 2014 crash, or if it is something different entirely.  I discussed with my “non crypto” father in law the other day, and I said “I’ve been down this road before. But I STILL think Bitcoin is going to reach 20K again and beyond eventually.” He disagreed. His feeling was that it was too saturated this time, that was the difference. Too many people got involved. There was too much institutional interest, unlike the 2014 crash where the pinnacle was really just chasing Dorian around by the media asking if he was Satoshi.

My point? Is it possible my father in law is right? Perhaps the 2017 boom and bust was fueled by such a higher level of public awareness than the 2014 crash, that this could have been the absolute peak. (I don’t believe it...but maybe I’m delusional!)