Where’s the Fire? Bitcoin and Major Cryptocurrencies Take Massive Beating

Rhosadah

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Quote from: secondbtc on November 20, 2018, 01:52:13 PM

Bitcoin and all other coin price move 50-100% down many times in past
so all this is natural, people must trust their investment because if crypto can grow up to 1000% then it may fall 1000% as well

carculation your right, it is impossible to fall 1000%, this is only Red zone for some time and crypto will be passed to the gradual increase to market recovery.

setialovers

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Most coin in market drop the price last week. Cryptocurrency Market cap value drop more than 60billions dollar in just one week. Its really shocking but hopely we not panic and selling our coin at cheap price. I am better hold my coin and sell it at best price

olubams

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Trying to understand the reason why the price have gone to an all time low in a long time is looking for reasons for the problem rather than focusing on the solution to that same problem. The market has really taken a hit which point to the direction that majority of the news and reports displaying how strong bitcoin price is against all odds are merely overstating and overempahsisng how strong the base and the market is. Invariably, for a return to the green period would mean some serious push for everyone irrespective of loyalty to any coin.

rickadone

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The reason why it went down so much is the way rich people can wait this out. Right now the price dropped a lot but those people sold bitcoin at 30 thousand bitcoin levels all at once. It means the market responded really harshly and the prices for everything went down. It is not a surprise that all coins drop when bitcoin drops because most of the time prices are tied to bitcoin instead of dollar and that results with all coins value dropping when bitcoin drops.

Since, rich people can wait out the storm they sell a lot of bitcoin all at once and use that money to gather back some bitcoin slowly, by slowly I mean couple thousand bitcoin a day. That way they will have more bitcoins at these prices compared to what initially they had. Instead of having 30 thousand bitcoin they can sell it and get 40-50 thousand bitcoin in return. Patience is their winning method.

chenhaonan

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Activity: 434

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Capitalists are usually the most sensible. Through this incident, the cryptocurrency market continued to slump. I don't think there will be a global financial crisis this year. Otherwise, the cryptocurrency market will not be so depressed, and the government will artificially manipulate the economy. The war may already be on the verge of humanity.

bajingluncat

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the current situation raises many questions and speculations in the public, there are still many who hope everything will be fine even though true bitcoin prices are currently touching the lowest prices throughout 2018, all hope this is only an annual cycle, there are still many predictions that prices will rise soon, even touching one million dollars in 2020, we just look at it and remain optimistic by holding hold of bitcoin without being tempted to sell just because we want to cut losses, because by holding it means we have participated in holding back prices from falling again

upsidedown75

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Quote from: aeternus on November 20, 2018, 10:51:56 PM

This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.

It is not a weakness and it is a weakness at the same time. Bitcoin itself has been growing strong over the years, no doubt about that as we keep seeing more real believers who are ready to look at the long term keep popping up and even some who did not have that mindset before had to force it knowing that at this point, they have so much more to lose bailing out from the market.

However, every greedy rally in which people are FOMOing and wanting to get rich always lead to things like this, which is why I consider those movements a weak and unsustainable ones, and main reason why the best thing that is always good for any market is a consistent and steady growth.

guoyu78

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Quote from: Lmaooo on November 15, 2018, 06:42:46 PM

Just before lunch on Wednesday, the crypto market looked like a bear’s den, with all ten of the top cryptos by market capitalization having bled more than 5%.

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

In fact, Tether took a 24-hour loss in market size of at least $100 million, meaning that a good deal of the capital fleeing various cryptocurrencies was not only not heading into Tether USDT, but it was also leaving the market altogether.

CCN | https://www.ccn.com/wheres-the-fire-bitcoin-and-major-cryptocurrencies-take-massive-beating/

And it is going down even further. The more we say "it dropped, it can't drop any further, this must be the dip!" it goes down even further. I am afraid if someone says "the price can't go lower than 4 thousand dollars" bitcoin feels like it must test it. Whenever we talk about how the price should go up now and 20 thousand dollar is a possibility we do not focus on the pessimist say, we don't say "bitcoin can't go to 20 thousand dollars" no we say "bitcoin could go to 20 thousand dollars", whereas when we talk about going down we say "bitcoin can't go under 5 thousand" and not "bitcoin could go under 5 thousand". Which shows that people at least at the back of their mind think the upside is more possible than down. However market is here to prove us that we are all wrong about that.

Juggy777

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Quote from: aeternus on November 20, 2018, 10:51:56 PM

This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.

This phase is temporary it's a blatant attempt by bitcoins cash to destabilise bitcoins, at first it seemed bad but now I'm relaxed knowing in few days the market shall recover again. I know these are tough times, but ask yourself prior to btc cash war was bitcoins weak, or was it stable and moving ahead. There is already bitcoins etf first of it's kind coming, people are gifting bitcoins for holidays so for me bitcoins shall recover and recover fast just be patient and hodl.

aeternus

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This to me is a consequence of the weakness of bitcoin, it is likely that many major players were waiting for a recovery by the end of the year like many people in the forum were doing, then they realized that was not going to happen and decided to get their money out of cryptocurrencies to other more profitable investments, to me that is the most simple and logical explanation.

aoluain

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Quote from: bitbunnny on November 20, 2018, 02:45:22 PM

I have the feeling that many people have totaly wrong picture of Bitcoin and cryptocurrency. They are only supporting it when the price is on the rise and when the price goes down some claim that Bitcoin is scam, bubble, that is going to disappear from the market and that they were fooled. Actually I don't understand such way of thinking.
Cryptocurrencies are volatile and risky and the moment you invested in Bitcoin you took that risk. But no one didn't force anyone to invest and no one didn't promise only profit and price rise. So, get yourself together or give up Bitcoin, maybe it's not for you at all.

I agree i believe there are people out there who are masively underwhelmed
by bitcoin at the moment. Their expectations for it have been shattered by
the current market drop.

There are forces at play at the moment which myself and others dont see
or comprehend. The stock markets are down big time also, is that transferring
Over to crypto? > https://www.marketwatch.com/story/dow-futures-tumble-nearly-300-points-nasdaq-poised-to-fall-by-triple-digits-2018-11-20

"U.S. stocks closed sharply lower Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies, but has now spread to ensnare the broader market. "

btc_angela

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And it continue to get hammered as I typed this reply. Lol. I really don't know what's happening right now, not just bitcoin but the whole crypto is suffering. This is supposed not to happen at this moment, but congrats to Bitcoin Cash for instilling war and then affecting the Bitcoin market. So its going to be bad Christmas for everyone if the trend continues. I do hope that we already found the bottom, at $4300 right now, because going below $4k would be a disaster before the end of the year.

yitzjoe

member

Activity: 390

Merit: 11

I think that many investors are withdrawing their funds this month because crypto prices continue to fall and I noted that BTC prices reached $ 4400 today, many users will hold hold because that's their only choice, but in their minds will Crypto rise quickly?

Twentyonepaylots

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Quote from: secondbtc on November 20, 2018, 01:52:13 PM

Bitcoin and all other coin price move 50-100% down many times in past
so all this is natural, people must trust their investment because if crypto can grow up to 1000% then it may fall 1000% as well

It's the market Volatility... The sudden drop on the price value of almost all Crypto and ALTCOIN creates a lot of Headache on the part of investors, the loses to Millions, yet its everyone investment got loses either Big or small still the same, its really a market lost. But i am still optimistic that market recovery will come soon after the market stabilized, form another market confidence of the consumer's investors...

bitbunnny

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I have the feeling that many people have totaly wrong picture of Bitcoin and cryptocurrency. They are only supporting it when the price is on the rise and when the price goes down some claim that Bitcoin is scam, bubble, that is going to disappear from the market and that they were fooled. Actually I don't understand such way of thinking.
Cryptocurrencies are volatile and risky and the moment you invested in Bitcoin you took that risk. But no one didn't force anyone to invest and no one didn't promise only profit and price rise. So, get yourself together or give up Bitcoin, maybe it's not for you at all.

hoverdrone

jr. member

Activity: 58

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I thought at this point everybody already got accustomed to this behavior of Crypto. I personally see it as an opportunity to buy more.
No denying that this is extremely nervous, but try to keep your head as cold as possible.

secondbtc

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Bitcoin and all other coin price move 50-100% down many times in past
so all this is natural, people must trust their investment because if crypto can grow up to 1000% then it may fall 1000% as well

gabmen

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Quote from: niublity on November 20, 2018, 12:42:04 AM

The rapid decline in the market was caused by BCH, and their internal war forced the depreciation of Bitcoin. Bitcoin depreciated $1,000 in a short week, which is the lowest price in Bitcoin in a year. Maybe Bitcoin is about to disappear.

I don't think it's about the bch fork anymore since it shouldn't take as low as this for people to realize the difference between btc and bch. Bitcoin has been freefalling pretty much without any major fud to cause it except for panic. I'm curious where the bottom could be.

niublity

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The rapid decline in the market was caused by BCH, and their internal war forced the depreciation of Bitcoin. Bitcoin depreciated $1,000 in a short week, which is the lowest price in Bitcoin in a year. Maybe Bitcoin is about to disappear.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: BitHodler on November 19, 2018, 04:30:22 PM

Quote from: St4yInTh3D4rk on November 19, 2018, 01:12:53 PM

All the crypto currencies were falling and still keep falling but if that keeps falling for too long then it will greatly affect the crypto investors and miners which may put the future of crypto currencies under question market.The panic sellers need to stop doing what they have been doing for almost a year or it will kill their investment also.The new year is at one month away and it need to bring some positive for the holders or we may see huge crisis in this field.

If you realistically look at the industry, there isn't much left to be hyped up about in the short term. Bitcoin had its run and doesn't seem to deliver anything other than LN being in development.

The same basically applies to other crypto currencies. Ethereum had its run as well and has not much left to impress investors with. Crypto went up too much, too fast. It's an adjustment back to reality.

The only benefit of the current bearish sentiment is that you can buy more coins for the same amount of fiat. I said it yesterday as well, these discounted rates are our early black friday and cyber monday sales.

Use it in your advantage.

We're in fact below the levels on which we should be. Bitcoin has been dumped in a year more than it was in 2014 and 2015 combined. This bear market is interesting from TA perspective because it played out much faster than the previous one. Makes me wonder if that will be followed by a much earlier and faster developing switch to a bull market. It would seem so.

batang_bitcoin

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Why Tether has been described like it was really exempted? it's a stablecoin.

Let's get used to it, there are even more dumps in the past that's more painful than this. Are we going to end this year badly? no one can give you exactly the accurate scenario but just stick to your plan. If you are here to make profits for short term, then you may do it and it all depends on how you will go with the flow right now.

BitHodler

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Quote from: St4yInTh3D4rk on November 19, 2018, 01:12:53 PM

All the crypto currencies were falling and still keep falling but if that keeps falling for too long then it will greatly affect the crypto investors and miners which may put the future of crypto currencies under question market.The panic sellers need to stop doing what they have been doing for almost a year or it will kill their investment also.The new year is at one month away and it need to bring some positive for the holders or we may see huge crisis in this field.

If you realistically look at the industry, there isn't much left to be hyped up about in the short term. Bitcoin had its run and doesn't seem to deliver anything other than LN being in development.

The same basically applies to other crypto currencies. Ethereum had its run as well and has not much left to impress investors with. Crypto went up too much, too fast. It's an adjustment back to reality.

The only benefit of the current bearish sentiment is that you can buy more coins for the same amount of fiat. I said it yesterday as well, these discounted rates are our early black friday and cyber monday sales.

Use it in your advantage.

Shreek

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there is no problem with this, this is in accordance with my expectations where there will be a bearish market before an extraordinary explosion that will take place at the end of the year before Christmas arrives
everyone needs money when Christmas arrives and also to welcome the new year, Bitcoin experiences a dump to give space to everyone who wants to benefit from bitcoin by selling it before Christmas

St4yInTh3D4rk

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Activity: 686

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"STAY IN THE DARK"

All the crypto currencies were falling and still keep falling but if that keeps falling for too long then it will greatly affect the crypto investors and miners which may put the future of crypto currencies under question market.The panic sellers need to stop doing what they have been doing for almost a year or it will kill their investment also.The new year is at one month away and it need to bring some positive for the holders or we may see huge crisis in this field.

ecnalubma

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www.Artemis.co

Maybe the game now is completely different from the past year, every holder must be cautious with their decisions although there is no concrete reason to panic maybe this is just sort negative sentiment that creates fear and domino effect. My only fear is if the banks cut connections with crypto, but as long the adoption is growing I’m still okey.

rickadone

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Aren't we kinda used to this right now ? I mean at least shouldn't we get used to this already ?
I know I am not. It is still a big shock and a big blow whenever this happens. Bitcoin keeps staying the same price for a looooong time than in an hour it goes up 20% or it goes down 10% or whatever. It is really silly that we actually see the markets stagnant for a long time and started to think the prices would stay the same from now on and only move slightly.

I know I was dreaming of that world, where bitcoin still moves high or low but very little and only go up in price gradually over years instead of this insane movements. Volatility is the only reason why I am still afraid of keeping my bitcoins, I still do but everyday I consider selling them to fiat and be done with this.

nicster551

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Quote from: Lmaooo on November 15, 2018, 06:42:46 PM

Just before lunch on Wednesday, the crypto market looked like a bear’s den, with all ten of the top cryptos by market capitalization having bled more than 5%.

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

In fact, Tether took a 24-hour loss in market size of at least $100 million, meaning that a good deal of the capital fleeing various cryptocurrencies was not only not heading into Tether USDT, but it was also leaving the market altogether.

CCN | https://www.ccn.com/wheres-the-fire-bitcoin-and-major-cryptocurrencies-take-massive-beating/

This is just another way of making people panic and they wish us to leave the market before they would start the new big rally. I really hope so that I am correct.

btc_angela

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Quote from: kryptqnick on November 17, 2018, 03:03:56 PM

Quote from: cindygirl on November 17, 2018, 12:45:10 PM

Quote from: davis196 on November 17, 2018, 08:26:05 AM

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%. Grin

Yeah,tether is a really stable coin.Haha...

It can't have been because no one knows for certain, there are numerous different theories as for why this crash happened.

I don't know, I thought it was pretty obvious that the fire is in #4 (Bitcoin cash) with its ABC and SV split. Bitcoin cash has put bitcoin in a dangerous situation for many times. That's why I kind of hate this coin. Oh, another reason is some scandals with bitmain cheating with mining and supporting this coin. This time the disputes manages to bring btc below its barrier that was never broken before. It's a shame, because now it might take even more time to recover, but I hope that what doesn't kill it makes it stronger, so we just have to wait.

That's the sad part. They have their time by having their own coin (Bitcoin Cash) put still this people are dragging us down with all their drama and stuff. We have been enjoying a good price for quite sometime now until we get caught in the crossfire. So it might takes ++ months to recover and be back to our feet. But I'm sure all of this knows that sooner or later we're going back to bullish trend so what we can do is wait.

kryptqnick

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Quote from: cindygirl on November 17, 2018, 12:45:10 PM

Quote from: davis196 on November 17, 2018, 08:26:05 AM

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%. Grin

Yeah,tether is a really stable coin.Haha...

It can't have been because no one knows for certain, there are numerous different theories as for why this crash happened.

I don't know, I thought it was pretty obvious that the fire is in #4 (Bitcoin cash) with its ABC and SV split. Bitcoin cash has put bitcoin in a dangerous situation for many times. That's why I kind of hate this coin. Oh, another reason is some scandals with bitmain cheating with mining and supporting this coin. This time the disputes manages to bring btc below its barrier that was never broken before. It's a shame, because now it might take even more time to recover, but I hope that what doesn't kill it makes it stronger, so we just have to wait.

Indamuck

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It's better to think of the glass half full and take advantage of this buying opportunity. This gives us one last chance to buy cheap coins before the crypto market reaches new all time highs. This is what seperates the true hodlers from the panic sellers, holding is always rewarded in the end. Stay patient everyone and don't lose faith.

cindygirl

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Quote from: davis196 on November 17, 2018, 08:26:05 AM

The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%. Grin

Yeah,tether is a really stable coin.Haha...

It can't have been because no one knows for certain, there are numerous different theories as for why this crash happened.

Quote from: logfiles on November 15, 2018, 06:52:15 PM

Come on, people are into crypto for business, to make profits, and cash out... Don't at one point think that money is going to get pumped in endlessly at one point people will have to cash out and enjoy their profits. So to me, this is all normal, Money is heading back to someone.

Due to the timing and scale of this it was very unlikely to be someone cashing in profits, there have been ample opportunities to do just that over the last 9 months but they chose this time and smashed through a support level in doing so, it seems there's more at play than just profit taking.

Findingnemo

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Bitcoin = Financial freedom

Its not new in the crypto currency market so we no need to worry too much when the prices fell and the reason for the current price fall is Bitcoin hashrate war and its fork so the condition may settle back when the people knows difference between bitcoin and the bitcoincash.If something is falling too much it maybe a sign of huge bump in the near future. Grin

davis196

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The main reason for the current crypto price decrease was explained about 100 times on this forum.
We should move forward and stop making 100 threads asking the same "Why this happened?" question.
By the way,even the Tether price goes down by 0,71%. Grin

Yeah,tether is a really stable coin.Haha...

peter0425

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Quote from: logfiles on November 15, 2018, 06:52:15 PM

Quote from: Lmaooo on November 15, 2018, 06:42:46 PM

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

Come on, people are into crypto for business, to make profits, and cash out... Don't at one point think that money is going to get pumped in endlessly at one point people will have to cash out and enjoy their profits. So to me, this is all normal, Money is heading back to someone.

Money won't simply disappear, I'm sure that its going to the pockets for all those who sold because of uncertainty cause by this so-called Bitcoin Cash split. But I'm sure that when everything has settled down, those money we lost are soon heading back to crypto sphere. I doub't that they will go to stock market, and unlikely to gold. Bitcoin is still the best investment instrument so in no time we will be back to the green again and the price above $6K.

logfiles

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Quote from: Lmaooo on November 15, 2018, 06:42:46 PM

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

Come on, people are into crypto for business, to make profits, and cash out... Don't at one point think that money is going to get pumped in endlessly at one point people will have to cash out and enjoy their profits. So to me, this is all normal, Money is heading back to someone.

Lmaooo

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Just before lunch on Wednesday, the crypto market looked like a bear’s den, with all ten of the top cryptos by market capitalization having bled more than 5%.

The exception of Tether (USDT) is easily explained as the token has a fiduciary responsibility to remain pegged to the US dollar, and thus its fluctuations would only be notable if its volume had significantly increased. That said volume has not increased, however, is also noteworthy – the money seems to be disappearing, heading for who-knows-where.

In fact, Tether took a 24-hour loss in market size of at least $100 million, meaning that a good deal of the capital fleeing various cryptocurrencies was not only not heading into Tether USDT, but it was also leaving the market altogether.

CCN | https://www.ccn.com/wheres-the-fire-bitcoin-and-major-cryptocurrencies-take-massive-beating/

Topic: Where’s the Fire? Bitcoin and Major Cryptocurrencies Take Massive Beating (Read 418 times)