the chances of a crash like 2013 is zero for sure and the chances of a crash is also nearly zero and i only say nearly because bitcoin is unpredictable but in fact that is also zero.
people usually see only the change, they don't look at the bigger picture. they see $100 rise they think we are going to the moon but in fact it was a temporary tiny rise.
and also when they see $100 drop after a $200 rise they panic and start saying bitcoin is dead. and that is just a correction if they use their brains.
Topic: Why Bitcoin price may not crash like 2013 - page 2. (Read 17869 times)
Well, it will not crash like that year because there are many bitcoin users nowadays and it is still going up. Though the problem of bitcoin is its price and making it used in all stores. Still, the users are still increasing and still increasing.
There is many reasons that can answer this question and mainly because :
1- there is no Mtgox
2- more users, more volume exchanged...
1- there is no Mtgox
2- more users, more volume exchanged...
There is no MtGox? I haven't looked at the numbers but I'm confident that Coinbase has a larger if not equal user base than MtGox had, so they could pull something just like MtGox did, no? Or maybe because they're based in the US they wouldn't get away with it?
MtGox had many problems - constant performance issues, outages, unable to handle user influx (slow verification). These issues which were not resolved for years. In retrospect that it would eventually collapse is hardly a surprise. What made people wire them money (especially since Bitstamp was established) I really don't understand. If there was not the hack there would be some other issue which would eventually bring it to its knees - unless they had enough time to be bought but that would probably not happen under that leadership.
People that are trading way back 2013 are veterans now, assuming they were newbie back then, and somehow Chinese News have less effect to them than year 2013. In addition to that, there are more people that is supporting bitcoin today and are willing to catch those weakhands coins. As result, price never go down to sub $700.
Crash of 2013 wasn't caused by inexperience of traders. It was caused by Mt.Gox collapse (among other things). We all know that during ATH Mt.Gox was already out of commission and wasn't processing selling orders at all.
Soon after that price of BTC collapsed.
People that are trading way back 2013 are veterans now, assuming they were newbie back then, and somehow Chinese News have less effect to them than year 2013. In addition to that, there are more people that is supporting bitcoin today and are willing to catch those weakhands coins. As result, price never go down to sub $700.
Crash of 2013 wasn't caused by inexperience of traders. It was caused by Mt.Gox collapse (among other things). We all know that during ATH Mt.Gox was already out of commission and wasn't processing selling orders at all.
Soon after that price of BTC collapsed.
Four long years have passed since that event occurred and the bitcoin as well as the economic circumstances that surround it have changed radically. There is no solid basis for believing that a similar event could happen these days again because the bitcoin ecosystem is much stronger and consolidated than it was then.
People that are trading way back 2013 are veterans now, assuming they were newbie back then, and somehow Chinese News have less effect to them than year 2013. In addition to that, there are more people that is supporting bitcoin today and are willing to catch those weakhands coins. As result, price never go down to sub $700.
There is many reasons that can answer this question and mainly because :
1- there is no Mtgox
2- more users, more volume exchanged...
1- there is no Mtgox
2- more users, more volume exchanged...
There is no MtGox? I haven't looked at the numbers but I'm confident that Coinbase has a larger if not equal user base than MtGox had, so they could pull something just like MtGox did, no? Or maybe because they're based in the US they wouldn't get away with it?
There is many reasons that can answer this question and mainly because :
1- there is no Mtgox
2- more users, more volume exchanged...
1- there is no Mtgox
2- more users, more volume exchanged...
The greatest impact on the crash had China and their fake bans every month. The fall was started by Gox, but was continued by the lack of positive news that caused an outflow money from bitcoin to fiat.
Take a look at the charts from 2014. The initial wave, we could call it Gox wave, took us down from around 1150USD to 450USD between December and May. By that time the Gox situation was clear, they were out of the picture. The real depression started in August 2014 and dragged the price below 200USD.
Anyway i see the price crossing $900 in barely all the exchanges now
Yeah, I've heard the stories that at that time it was sort of a fake price growth. I mean, the price really hit $1k+ but it was due to some circumstances and now it is just the real price. The price is dropping but it is not dropping that fast. And yet it seems too unreal to me that the price can really be around $1k stable now. People don't trust bitcoin that much. They do like such a price but the problem is that they don't believe it is going to grow even more and spoil everything by their selling.
Well the fake price growth are really not fake. Bitcoin's price can change it depends on how some people control it. Like in stocks there are people who are ready to buy and buy in order to fake a break out and later on they will be the once selling on top that is why it will go back down in just a matter of days. People can control the price temporarily but not permanently. The price of Bitcoin has given very unfamiliar trends in the currency prices across the globe. I think it will not crash like it did in 2013 but will continue having unpredictable behaviours and therefore predicting will be very difficult.
Never say never, but I don't rule out massive crashes from the level of going from +$1000 to -$200 in a relatively short period of time. Mainly because of the fact that this market is, and will always be subject to plenty of drama. One time an exchange gets "hacked" where the price starts tanking heavily, and another time fud news from China makes people sell like there is no tomorrow. It's no coincidence at all that it mostly happens after the price has gone up. It's a planned attack where the people behind it are making millions time on time again.
I advise y'all ta shut yo black asses up an' HODL! Thangs ain't totally different this time, but they a lil' bit different. We spiked up, then we din't cras nearly as hard, an' lookie where we at rite naw. Almost $900 again!!!
all rapid grows in a market must have rapid lowering of price, action = reaction
but i agree, this time it is more value gains than speculation, it will be lowered but no to 500$ range or 700$ range but maybe to 800$ only
This time crash was created not by market collapsing under pressure of but rather was created by bad news of imminent bitcoin ban/harsh regulations issued by China.but i agree, this time it is more value gains than speculation, it will be lowered but no to 500$ range or 700$ range but maybe to 800$ only
We have no idea where this pump would end (I assume we would reach new ATH this time) if it wasn't abruptly ended by exaggerated rumors.
Still the bitcoin is vulnerable to crash but not big like the one that happen in 2013 and in bitfinex hacking. Some factors like increased acceptance, limited supply and uneasy world economy will continue to push the bitcoin price upward.
The price of bitcoin wont crash like we have seen earlier because the volume and liquidity are really high than we had in 2013.The prices are recovering as we speak and i am sure the price will cross the $1000 mark in a couple of months time.Still the bitcoin is vulnerable to crash but not big like the one that happen in 2013 and in bitfinex hacking. Some factors like increased acceptance, limited supply and uneasy world economy will continue to push the bitcoin price upward.
The price of bitcoin wont crash like we have seen earlier because the volume and liquidity are really high than we had in 2013.The prices are recovering as we speak and i am sure the price will cross the $1000 mark in a couple of months time. Several factors including China’s economic situation have made the Bitcoin surge different from what was the case in 2013 when the price first rose above the $1000 tag but later reversed. As a result, the rising price of Bitcoin today is not likely to suffer a similar fate. Going by its record up till 2016, Bitcoin has put several economic theories in doubt and come up with an established price that cuts across multiple exchanges. Below are some of the observed factors that made it happen:
http://news.8btc.com/why-bitcoin-price-may-not-crash-like-2013
http://news.8btc.com/why-bitcoin-price-may-not-crash-like-2013
What happened in 2013 is different with this year, price crash were occurred due to an exchange got hacked.
So, if this year there is security issue again, the price will fall down for sure.
Those factors mentioned affected bitcoin in certain way to developing but not to hold the price.
The price of Bitcoin has given very unfamiliar trends in the currency prices across the globe. I think it will not crash like it did in 2013 but will continue having unpredictable behaviours and therefore predicting will be very difficult.
The biggest problem with 2013 was that it went up like 4x within 1 month. All driven by madness at MtGox. In retrospect Bitcoin was not ready for $1000 in 2013. It's more than ready today.
Compared to those days bitcoin is less volatile as well its user rate, adoption, acceptance and investment through bitcoin has increased to higher extent. This helps the price to stabilize in a short time, if something happens similar to a crash too.
Yeah, I've heard the stories that at that time it was sort of a fake price growth. I mean, the price really hit $1k+ but it was due to some circumstances and now it is just the real price. The price is dropping but it is not dropping that fast. And yet it seems too unreal to me that the price can really be around $1k stable now. People don't trust bitcoin that much. They do like such a price but the problem is that they don't believe it is going to grow even more and spoil everything by their selling.
Jump to: