The crash right now as as big as the Mt. Gox collapse - but faster - page 2.

freightjoe

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Quote from: usmcvet11 on December 22, 2017, 03:19:41 AM

Quote from: NorrisK on December 22, 2017, 03:08:57 AM

It went up to fast and is correcting now.

Expect a big retrace soon to about 15k.

i was talking about the same thing earlier i believe the correction is between 12-14k

We are now at 12.6k and still dropping.....

EvilKingfisher55

newbie

Activity: 61

Merit: 0

If the bitcoin rise again (and I'm sure will do) We will see a lot post of people who where saying they will never sell their bitcoin and just hold it. It is just because of its volatility guys. Don't be scared too much.

JoeriHugelier

newbie

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A correction was long overdue, the price is still almost double of the price last month. The BCH debacle combined with the endig of the year also spurred a lot of people on to sell, trying to moneytise the profits they made over the year. We can only hope the market calm down and retraces to a more stable course. But The fall also has an upside, people turn to altcoins which in turn raises their value and when the BTC picks back up again smart invester will profit from this.

usmcvet11

newbie

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Quote from: NorrisK on December 22, 2017, 03:08:57 AM

It went up to fast and is correcting now.

Expect a big retrace soon to about 15k.

i was talking about the same thing earlier i believe the correction is between 12-14k

fiulpro

hero member

Activity: 1862

Merit: 830

I really think that its kinda scary when people compare this crash with things like those it makes us doubt if bitcoins will ever cone back up..well you know lets just take this crash to be as.. Simple downfallthat we fact day to day.. and then it comes back up in a month for sure..
I do think that its nothing like it and it will soon recover and we would be able to how high it goes then.
Its a great opportunity to invest ^ lets take this positive
..and according to the sources its just preparing itself to launch for a much higher price.

coinycoiny

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Activity: 273

Merit: 18

Quote from: glaciercapital on December 22, 2017, 03:13:33 AM

I think it's hard to compare this to the Mt. Gox collapse. That crash was a genuine fear that the industry was unsafe and was not going to survive.
This just feels like the market got carried away with speculation and a correction was overdue.

This time people are concerned that btc just doesn't work anymore. Probably more worrying then before this time. There was no reason to buy btc other then to sell it later at a profit. Once a slide has set in then there is no reason to buy btc again. Even drug dealers have moved on to pastures new leaving just the hodlers.

freightjoe

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Activity: 238

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Quote from: glaciercapital on December 22, 2017, 03:13:33 AM

Quote from: freightjoe on December 22, 2017, 03:10:40 AM

Quote from: NorrisK on December 22, 2017, 03:08:57 AM

It went up to fast and is correcting now.

Expect a big retrace soon to about 15k.

Wishful thinking. The Mt. Gox collapse then lead to a continued long decline where in total the price dropped 80%

I think it's hard to compare this to the Mt. Gox collapse. That crash was a genuine fear that the industry was unsafe and was not going to survive.
This just feels like the market got carried away with speculation and a correction was overdue.

It is exactly the correct comparison. The extremely long confirmation times and high transaction fees show lethal problems with scaleability, and therefore a well-founded fear that Bitcoin will not survive

glaciercapital

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Quote from: freightjoe on December 22, 2017, 03:10:40 AM

Quote from: NorrisK on December 22, 2017, 03:08:57 AM

It went up to fast and is correcting now.

Expect a big retrace soon to about 15k.

Wishful thinking. The Mt. Gox collapse then lead to a continued long decline where in total the price dropped 80%

I think it's hard to compare this to the Mt. Gox collapse. That crash was a genuine fear that the industry was unsafe and was not going to survive.
This just feels like the market got carried away with speculation and a correction was overdue.

freightjoe

full member

Activity: 238

Merit: 109

Quote from: NorrisK on December 22, 2017, 03:08:57 AM

It went up to fast and is correcting now.

Expect a big retrace soon to about 15k.

Wishful thinking. The Mt. Gox collapse then lead to a continued long decline where in total the price dropped 80%

NorrisK

legendary

Activity: 1946

Merit: 1007

It went up to fast and is correcting now.

Expect a big retrace soon to about 15k.

freightjoe

full member

Activity: 238

Merit: 109

Right now the Bitcoin price is down 33% from the peak only 5 days ago

The largest previous impact was the Mt. Gox collapse in 2014. As per wikipedia: "From 1 February 2014 until the end of March, during the period of Mt. Gox problems, the value of bitcoin declined by 36% "

So this means the crash today - which is still ongoing with prices declining - is as big an impact, but has happened in only 5 days versus 2 months for Mt. Gox.

...and the price is still going down....

Topic: The crash right now as as big as the Mt. Gox collapse - but faster - page 2. (Read 293 times)