Nah, you are saying that the price will crash by more than 80% but that is not possible. And in fact, the price is recovering right now, it is over $14500 and it seems that it will keep going up for a while
It was just a dip for taking advantage of it, the big whales wanted to make profit and then re-enter the market at a low price
Topic: The BTC Correction/Crash of 2017/18 is a CARBON COPY of 2012/13 - page 2. (Read 361 times)
December 22, 2017, 04:34:31 PM
December 22, 2017, 04:30:50 PM
It's a carbon copy of 2012/13.
Also in late 2013 and also in 2014. Just look at the graph or the historical data.
The total value of one bitcoin was lower, but the drop in percentages was also similar. Sometimes stretched over a slightly longer period. This is why and how people earn money from this. Because it keeps dropping and rising again by so much. Have we still not learned how this works?
December 22, 2017, 04:00:36 PM
No, if we compare the prices, bitcoin was at $1200 when it crashed.
Now it needs to get to $5000 to reach the same value that the last crash did. So if it reaches $5000, this crash would be as the same size than the other one. And no, it is not the same, or at least, it is not equal.
Now it needs to get to $5000 to reach the same value that the last crash did. So if it reaches $5000, this crash would be as the same size than the other one. And no, it is not the same, or at least, it is not equal.
December 22, 2017, 03:50:45 PM
Carbon copy means perfect copy.
Not the case here.
First, the rally in 2013 went for a few months. The current one is hitting a year.
The 2013 events followed a huge drop in the closure of SR, bitcoin went down to 90 before that, this rally follows a bear market of almost 3 years.
The 2013 events were triggered by MtGox and the Chinese exchanges, MK admitting (finally) the existence of the willy bot.
Again, during 2013 we never went down how we did last months it was a continuous run, this time we see price corrections almost monthly.
The 2013 run was built mostly on speculation, this time we have adoption, we have legal documents acknowledging BTC not just Chinese rumors.
And probably the most important thing, China "banning" bitcoin had nowhere near the effect it had 4 years ago.
Similarities .. yeah, if you really try, but carbon copy? No!
Not the case here.
First, the rally in 2013 went for a few months. The current one is hitting a year.
The 2013 events followed a huge drop in the closure of SR, bitcoin went down to 90 before that, this rally follows a bear market of almost 3 years.
The 2013 events were triggered by MtGox and the Chinese exchanges, MK admitting (finally) the existence of the willy bot.
Again, during 2013 we never went down how we did last months it was a continuous run, this time we see price corrections almost monthly.
The 2013 run was built mostly on speculation, this time we have adoption, we have legal documents acknowledging BTC not just Chinese rumors.
And probably the most important thing, China "banning" bitcoin had nowhere near the effect it had 4 years ago.
Similarities .. yeah, if you really try, but carbon copy? No!
December 22, 2017, 03:49:47 PM
Imho the BTC frenzy is still not over. A lot of people are still crazy about cryptocurrencies and and it still take too much space in media. But I'm generaly aggree with you and I'm sure that the 2012/2013 will happen, but probably a bit later in the upcoming year. -30% is still not that a big loss, when it happens it will be even bigger (meybe we will come back to 1.8k).
December 22, 2017, 03:48:16 PM
omg -30 % from top when it take less than a month to double, yeah bear market for 10 year lol. Only holders wins, people don't get that yet, when they will there will be no limit, money can go to 0 yes, even the dollar or euro, so how much will be a bitcoin ?
You'd be seeing Bitcoin got to 0 before you'd see a lot of the national currencies collapsing in on themselves, at least at a point where people won't be able to swap their currencies so that their value is preserved. A lot of the rise was based on hype from people and FOMO, resulting in a dramatically inflated demand for an artificially reduced supply. Bitcoin would not be trading near $14k today if the market behaved normally; that is holders didn't make the market scarce and forced the price higher. This is the result of doing something like that, and it should be a good lesson for everyone as to what happens when there is a bubble of such severe magnitudes. December 22, 2017, 03:45:38 PM
It's a carbon copy of 2012/13.
2012/13:
Good news: Winklevoss ETF, btc funds arising, publicity
Price: $100 - $1200
Bad News: China regulates BTC related bank tx, just a tipping point
Price: $1200 to $100
MTGOX closes for good, multi year bear market.
2017/18:
Good News: CME, BTC Derivatives market entering Wall Street
Price: $500 - $20,000
Bad News: South Korea Hacked, China bans BTC, so all the Chinese BTC cannot be sold.... which will eventually be laundered to new exchanges to be redeemed.
Price: $20,000 to $10,000 (thus far)
BFX might close down for good.
It's a carbon copy of 2012/13....
2012/13:
Good news: Winklevoss ETF, btc funds arising, publicity
Price: $100 - $1200
Bad News: China regulates BTC related bank tx, just a tipping point
Price: $1200 to $100
MTGOX closes for good, multi year bear market.
2017/18:
Good News: CME, BTC Derivatives market entering Wall Street
Price: $500 - $20,000
Bad News: South Korea Hacked, China bans BTC, so all the Chinese BTC cannot be sold.... which will eventually be laundered to new exchanges to be redeemed.
Price: $20,000 to $10,000 (thus far)
BFX might close down for good.
It's a carbon copy of 2012/13....
December 22, 2017, 03:42:07 PM
omg -30 % from top when it take less than a month to double, yeah bear market for 10 year lol. Only holders wins, people don't get that yet, when they will there will be no limit, money can go to 0 yes, even the dollar or euro, so how much will be a bitcoin ?
December 22, 2017, 03:34:52 PM
Bitcoin is entering a multi year bear market again.
Just compare this current crash to the crash of 2012/2013; they are like carbon copies of each other.
The previous bubble was predicated on several factors: Winklevoss ETF, technicals, and adoption, etc.
When the actual events came to fruition, BTC was in a bear market.
The Japanese exchanges are the new Chinese exchanges, which reached ATH before BFX, Stamp, etc, just like the Chinese exchanges did back in 2012/13.
A simple nonchalant bad news became the tipping point to the crash just like 2012 when a stupid "Chinese bans bank related btc transactions" news was the tipping point for the multi year bear market.
BTC is entering the same bear market again. No sane investor is going to adopt BTC for a long time to come, if ever.
This is the time to buy IF you want to wait potentially 10+ years for the next potential increase targeting >$200k, if that actually will come to fruition.
Just compare this current crash to the crash of 2012/2013; they are like carbon copies of each other.
The previous bubble was predicated on several factors: Winklevoss ETF, technicals, and adoption, etc.
When the actual events came to fruition, BTC was in a bear market.
The Japanese exchanges are the new Chinese exchanges, which reached ATH before BFX, Stamp, etc, just like the Chinese exchanges did back in 2012/13.
A simple nonchalant bad news became the tipping point to the crash just like 2012 when a stupid "Chinese bans bank related btc transactions" news was the tipping point for the multi year bear market.
BTC is entering the same bear market again. No sane investor is going to adopt BTC for a long time to come, if ever.
This is the time to buy IF you want to wait potentially 10+ years for the next potential increase targeting >$200k, if that actually will come to fruition.
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