Isn't it too soon to call this a crash (honest question)? I mean, it's at 12k or so now. It was at 6k a month ago. In the eyes of skeptical me, even not knowing anything about financial markets, those numbers don't exactly seem like crashing. Yet.
Give it time. I happen to think that bitcoin is still stabilizing. Whether it will stabilize at an even higher price than it is now, or "crash" and stabilize at a much lower price, I think it will eventually stabilize.
I still remember when Bitcoin was at $1,000 for the first time. The Economist ran a story and it was discussed nearly everywhere. The price fell by 30%+ after that. A few years later it was at $3,000.
It's normal that markets crash when everyone starts talking about how high they are. Once booming stockmarkets make it to the front page of newspapers it's often the end of the boom. It wakes people up who realise they still have stocks (or bitcoin in this case) and quickly sell it.
So the crash after hitting $3,000 was somewhat expected, given the attention in the media. Doesn't mean that it won't be strong over the next 2-3 years.
I'm sure it's been stated already... And well, I'm no Bitcoin fanboy, but didn't the price just go back up to what it was 2 days ago? That hardly sounds like a "crash" to me.
If it bounces back within the same day is it still considered a crash? It seems like BTC is now down by around 7 percent and recovering somewhat. When it starts growing again the amnesia will take over with a general euphoria and the cycles continue. I've been following cryptos for a while now and this doesn't seem like something extremely uncommon.
Bitcoin is at $30K. I'd hardly call it "crashing". It has erased its gains from the last year, sure, but so has the broader stock market. Add "growth stocks" are performing a lot worse in the same period.
At this point, BTC is very much known for its extremely high volatility (source: look at the price history since inception).
There hasn't been a single year since it launched where it hasn't displayed outrageously wild swings: at this point, it's pretty clear that the wild volatility is an intrinsic attribute of this particular asset class.
Therefore: not a crash, just Bitcoin's business as usual.
Are you trying to say that the price of bitcoin crashed from ~$3000 to ~$300 immediately on August 1st 2017, and that coincidentally at the same time, a brand new asset appeared that had the same price that bitcoin did a few seconds earlier?
I sold my BTC late Jan 2021 for around $30k. Everytime ppl say it has crashed since then, the price is still hovering around 29-30k like the universe is playing some sick joke to me.
So no it hasnt crashed yet. Let me see under 10k, then we can talk.
Obviously he's referring to the current value compared to the high last year. You know where the current price of bitcoin is over 75% less than it was last year...
Any time something loses 75% of it's value (and still dropping) and you say, "what crash?", you're not fooling anyone but yourself. Even if you got into bitcoin on day one.
* Bitcoin reached the price of 10k 2 months ago, at the end of November. The Bitcoin has only lost "one month" of its price, for the moment.
* There has been a dip in the price of Bitcoin every January for the last 3 years. It fell from ~1200 to ~700 in January 2017, for example.
I'm not saying that this is not the "final crash", just that what's happening for the moment isn't really surprising. I saw numerous people predicting that the price will fall at least back to ~8k.
What’s interesting about this crash is prices are still so high. Bitcoin is close to 20,000$ right now. So there are still huge paper losses, but I doubt that many bought in at just 20+k.
It’s odd to look prices dropping to 1/3 and think thing things could get a lot worse or it could turn into just another blip on a larger upwards trajectory.
Isn't it too soon to call this a crash (honest question)? I mean, it's at 12k or so now. It was at 6k a month ago. In the eyes of skeptical me, even not knowing anything about financial markets, those numbers don't exactly seem like crashing. Yet.
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