We are now down 70% and still dropping - page 3.

sofi@

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Quote from: freightjoe on February 06, 2018, 02:16:51 AM

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

This is one reason why I stop looking at the graph because I only feel disappointed seeing those figure starting to eat up every invstment I made. It's not over yet, it can actually drops as low as we could ever imagine, but we cannot do anything rather than keep hoping and believing things will gets better in time.

dewi91

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Quote from: levvv on February 06, 2018, 03:35:09 AM

Quote from: freightjoe on February 06, 2018, 02:16:51 AM

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

Now is February 2018, lets compare the price from the last year, Feb 2017.
the current price is still above the last year price.
So you cannot say this is a full-on crash.
i think the sign of full crash is, the price is lower than last year price.

I think it is a different condition, this is the worst decline. Bitcoin price ever reach almost 20k before and decline more than 50 % is really bad although the price is not lower than February 2017. we all have a big expectation in bitcoin because the price ever goes up very high but now the condition is very worrying.

thesmallgod

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well, you have every reason to believe its normal like some people use to say. market or chart correct isn't this. besides, I don't think cryptocurrency has witnessed this since the first coin has been created in 2009. however, I do not believe this might be the end of crypto because just the way the media impacted the crypto world positively last year which make many investors enter the raise. the opposite is happening now. negative news everywhere. from facebook crypto ads to Chinese banning crpto ads.

gakadem

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No success in a short time

you are right the fall of bitcoin is still going on
the current bitcoin price is getting weaker, and continues to weaken! I hope this will soon recover as usual
if this continues to happen it will have a very bad impact. I can not imagine it

guy369

jr. member

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Quote from: cellard on February 06, 2018, 01:40:55 PM

and given that altcoins are scams, Bitcoin is it.

I disagree with you on that, a lot of Altcoins have value to the crypto world.

However, many of them will not survive 2+ years

cellard

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Quote from: QuestionAuthority on February 06, 2018, 02:49:33 AM

Quote from: freightjoe on February 06, 2018, 02:44:46 AM

Quote from: QuestionAuthority on February 06, 2018, 02:40:45 AM

Quote from: freightjoe on February 06, 2018, 02:16:51 AM

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

I’m not sure what you’re getting at? This isn’t new info.

The greatest minds in finance (I mean people in the real world, not bitcoinland) have been saying for a month that bitcoin is in a huge bubble that is going to pop.

These are people with advanced degrees in economics, business administration and finance being published by ages old respected economic reporting agencies. Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review have ALL published articles telling about the impending disaster that’s about to happen when the bubble pops.

Everyone has been informed so no one should be surprised unless they live in a total vacuum somewhere above the fucking Arctic circle in an igloo. If the people on this forum want to ignore all of the worldwide brainpower saying the exact same thing, let them.

The religious cult - which the Bitcoin followers in here largely are - appear to still be in denial about reality though.

So what? That’s my point. If hundreds of people with doctorates in business and finance can’t convince them do you think you have any chance of doing it? Let it go dude.

"Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review"

That's another cult. They are just market makers, that's all. The bubble popped because they can get on the mainstream and they scared all the noobs away, that's all, there's no mystery science there. All the idiots that thought they could get rich overnight and FOMO'd into Bitcoin because they saw it on the news about how it was going high are the same idiots that panic sold because Mainstream media hired these people to say it's a bubble in order to stop the growth.

Let me remember how Mark Williams predicted Bitcoin under $10 by 2014, that's an expert PhD federal reserve bankster opinion which was wrong as fuck as we all know.

"Bubble is popping" comments started at $2k, so it finally popped at $20k, so what, it means nothing, if you say it enough times you will eventually be right, doesn't take a PhD for that, similarly, doesn't take a PhD to know we will be at all time highs again eventually, because there is 21 million coins only an there will always be a demand for a neutral, global asset, and given that altcoins are scams, Bitcoin is it.

eternalgloom

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Quote from: ninche on February 06, 2018, 03:43:49 AM

Quote from: renggileh on February 06, 2018, 03:42:34 AM

do not lose hope buddy
many believe, this is a very natural thing in this crypto world, maybe this is called the main risk of bitcoin
I myself, had predicted this would happen, when I first jumped, and I was ready with this risk
do not panic then sell, hold your coins, bitcoin will return to normal in a few moments, just need to wait

moments? or months? or maybe years to get back to 20 k again

So what? It also took years to get back over $1000 after Mt Gox imploded, but it did happen in the end.
I'm fairly certain that this time 'round it will happen a lot faster than in those days, but things need to calm down first.

siddu67

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Yeah that's true that we have came down 70% and still dropping but I think you know that bitcoin price always ups downs.It is one of the condition of them.Do not worry at present bitcoin is dropping but after a some time it will rise again.

francedeni

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Quote from: CryptoEbe on February 06, 2018, 12:27:31 PM

Quote from: freightjoe on February 06, 2018, 02:16:51 AM

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

Yes, this is normal in crypto. Have you seen the previous crashes? If not, I would suggest you take a look at the historical ups and downs of bitcoin.

It may still dropping but bitcoin will continue to grow. Yes, if we can see the previous charts of bitcoin from the previous years price was different. Bitcoin has been volatile ever since so for me I hold then wait that's it.

Wulanayu

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Yes this is just a minor accident you need not worry.
Let's buy and buy this is a rare opportunity that happens only once a year, lest you miss this opportunity because you are scared.
this will definitely recover soon so do not be afraid of what's happening right now.
you can become a millionaire in the coming months if you can take this opportunity.

guy369

jr. member

Activity: 166

Merit: 1

Quote from: freightjoe on February 06, 2018, 03:27:01 AM

Quote from: frery on February 06, 2018, 03:20:29 AM

Yes, this is a complete collapse. Even the US stocks are falling. Many people wonder if the financial crisis is coming. But I think this is ridiculous. We need to be calm. If the stock market collapses, it is very normal.

Bitcoin is down 40% in a week - the stock market is down 5%. Do you understand the difference?

The stock market lost $3 trillion yesterday
Crypto lost $100-200 billion

Do you understand the difference?

Crypto will enter the 'bubble' stage once we hit $2-3 trillion + of market cap combined.
I am accumulating myself at these basement prices

Just because "masters" of the economy call crypto a bubble does not make it so...These are the same people who will say housing is going to crash and buy up all the land one the property values plummet
...I don't trust people who have something to gain by giving advice.

yamortsac

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It's really hard to tell when will the price dropping of bitcoin stop, but as many people say, it already happened before and after a couple of months bitcoin able to recover. If you are here for a long time, you will not be worried about what is happening in the price of bitcoin now because they are confident that bitcoin price will increase soon.

CryptoEbe

newbie

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Quote from: freightjoe on February 06, 2018, 02:16:51 AM

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

Yes, this is normal in crypto. Have you seen the previous crashes? If not, I would suggest you take a look at the historical ups and downs of bitcoin.

ebliever

legendary

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Quote from: QuestionAuthority on February 06, 2018, 02:40:45 AM

I’m not sure what you’re getting at? This isn’t new info.

The greatest minds in finance (I mean people in the real world, not bitcoinland) have been saying for a month that bitcoin is in a huge bubble that is going to pop.

These are people with advanced degrees in economics, business administration and finance being published by ages old respected economic reporting agencies. Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review have ALL published articles telling about the impending disaster that’s about to happen when the bubble pops.

Everyone has been informed so no one should be surprised unless they live in a total vacuum somewhere above the fucking Arctic circle in an igloo. If the people on this forum want to ignore all of the worldwide brainpower saying the exact same thing, let them.

Anyone else find this post ironic given the screen name of the poster? Wink

The "experts" have been wrong far more often than they have been right on Bitcoin. I could care less who has what opinion about Bitcoin - only the reasoning process behind their conclusions is what matters to me. And yet when they voice their reasoning on this subject I often find it lacking even at a cursory examination.

Ilegendph

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Thinking on the higher plane of existence.

Quote from: freightjoe on February 06, 2018, 02:21:59 AM

Quote from: chidrawarster on February 06, 2018, 02:18:47 AM

I see many buyers will come into action if it drops more today and tomorrow. It's all volume based and supply and demand theory. I will wait and see for more how much percent its going to drop today and tomorrow and then I will lock the buy positions based on the observations. I m waiting eagerly to get into some nice position to repair profits in the long run and I m not in hurry.

That is what people said when it dropped to 15000. Then they saw the dip to 12000 as a good buying opportunity. Then people like you said to buy at 10000 because that was cheap. Then people like you in here said to buy at 8000 to be prepared for the upturn. Now you say the same at 6000.....

Go ahead, throw you money away chasing a dream to get-rich-quick. Reality is that the party is over.

Maybe you are just upset because of what happened. I guess you are one of those people invested in bitcoin at its peak, so you rant in this thread because of your frustrations. Maybe if you just do some research before you invest, you should probably know that this crash happens and actually might happen again. I hope the situation right now would give a lesson and use for your own benefit.

ebliever

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Quote from: levvv on February 06, 2018, 03:35:09 AM

Quote from: freightjoe on February 06, 2018, 02:16:51 AM

As of this morning BTC went below 6000 - that is a 70% drop from the peak at the end of 2017.

"This is normal in crypto" says many in here. Come on - get real. It is a full-on crash, and it is not over yet.

Now is February 2018, lets compare the price from the last year, Feb 2017.
the current price is still above the last year price.
So you cannot say this is a full-on crash.
i think the sign of full crash is, the price is lower than last year price.

It all depends on what your benchmark is. Compared to the 20K ATH it is certainly a crash and the popping of a short-term bubble. But if you look at the long term trend of the last couple years it is easy to draw a smooth upwards sloping curve that fits it pretty well. When it shot up to 20K in December the price was getting ahead of itself; conversely now it has fallen well below the long term trend line. Just eyeballing it I'd say we should be getting back to around at least $11-12K to be back on the trend line without being overvalued.

tyuner4

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I think otherwise, the dip is because of all the bad news. Let’s watch Bitcoin price after the fuds are cleared.

Goodday

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the decline of bitcoin I hope does not last long and may just wait for time to get back to normal and certainly will rise higher again from the year 2017

djpitagora

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Quote from: freightjoe on February 06, 2018, 03:27:01 AM

Quote from: frery on February 06, 2018, 03:20:29 AM

Yes, this is a complete collapse. Even the US stocks are falling. Many people wonder if the financial crisis is coming. But I think this is ridiculous. We need to be calm. If the stock market collapses, it is very normal.

Bitcoin is down 40% in a week - the stock market is down 5%. Do you understand the difference?

that's because bitcoin is a high risk financial product and stocks are low risk. Or better put, stocks are high risk, bitcoin is super-uber-mega-high risk. The point is, when there is uncertaintly over a crisis, all asset prices go down (except bonds which are tied to the interest rates in the opposite direction), in the order of risk. The higher the risk the more likely you are to get out of it. The same thing happened to alt coins, which took a much bigger hit then BTC because they are of even higher risk.

So yes, if stocks go down, so will bitcoin. Not saying that this is what brings BTC down right now, but it certainly contributes.

mayax

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Tether/Bitfinex is no longer generate fake money(over 2 billions till now) . They are on hold. This is the main reason. Grin

Topic: We are now down 70% and still dropping - page 3. (Read 725 times)