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    Default Cryptocurrencies Lost Values

    With the fear of the implications of China and South Korea all the cryptocurrencies lost value yesterday and continues today (so far). Any comments to explain further and predictions?

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    just institutions cashing out.. watching price drop to buy back from the little guy 50% less

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    I can see the fear in the eyes of ten-thousands who brought for 17 or 18k$
    Im on "hold". Some powerful entities are super engaged to put they hands on ... will see.

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    True indeed ,this is a perfect way for making billions in a matter of day ,week ..etc . I wonder who losses at the end ?
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    Quote Originally Posted by wonderpunter View Post
    just institutions cashing out.. watching price drop to buy back from the little guy 50% less
    Well, that's an exaggeration, 50%, but yes I would expect wealthier investors do sell off proportions regularly, and wait for the correction before they rebuy.

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    I just wonder how many of believers will remain optimist if Bitcoin will go under $4,000 ?
    On the bright side, we were expecting dips up to $6,500 and climbs up to $60,000 in 2018.

    I thought if Bitcoin goes down some other coin will sky rocket. But doesn't look so now.
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    Quote Originally Posted by PlayHunter View Post
    I just wonder how many of believers will remain optimist if Bitcoin will go under $4,000 ?
    On the bright side, we were expecting dips up to $6,500 and climbs up to $60,000 in 2018.

    I thought if Bitcoin goes down some other coin will sky rocket. But doesn't look so now.
    The price of Bitcoin in December 2017 was nearly double what it currently is now (about $10K USD).

    It's absolutely shocking to see.

    I still hold on to hope that it will increase to well over $20K USD very soon.

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    Quote Originally Posted by PlayHunter View Post
    I just wonder how many of believers will remain optimist if Bitcoin will go under $4,000 ?
    On the bright side, we were expecting dips up to $6,500 and climbs up to $60,000 in 2018.

    I thought if Bitcoin goes down some other coin will sky rocket. But doesn't look so now.
    I think bitcoin has quite some influence on other coins. A crashing bitcoin, affects also other coins as it's bad for the confidence in general in this kind of coins.

    A relatively small group of people are having huge amounts of bitcoins. Perhaps it's them who will buy now BTC for 6k, 7k, 8k, etc. and sell them at 17 - 20k or even higher to people that are coming for the hype. Somewhere between the people with huge amounts and the people investing for the hype, are people daily busy with it, but having small amounts. I guess their influence is quite limited.

    I think it will continue as long as people are wanting to buy coins at the peak of a hype. People with huge amounts still see the fun of selling a coin for 20k and buying 2 back for the same amount.

    Another explanation there is not. I think it's clear that BTC will never ever be a common currency for buying things in the supermarket.

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    Quote Originally Posted by Triple7 View Post
    I think bitcoin has quite some influence on other coins. A crashing bitcoin, affects also other coins as it's bad for the confidence in general in this kind of coins.

    A relatively small group of people are having huge amounts of bitcoins. Perhaps it's them who will buy now BTC for 6k, 7k, 8k, etc. and sell them at 17 - 20k or even higher to people that are coming for the hype. Somewhere between the people with huge amounts and the people investing for the hype, are people daily busy with it, but having small amounts. I guess their influence is quite limited.

    I think it will continue as long as people are wanting to buy coins at the peak of a hype. People with huge amounts still see the fun of selling a coin for 20k and buying 2 back for the same amount.

    Another explanation there is not. I think it's clear that BTC will never ever be a common currency for buying things in the supermarket.
    Possibly, but possibly not, it all depends on stability. If BTC adoption was at 100% of the population split equally, it's value would be stable. Currenly it's owned by a very small % of the population.

    Lightning network, should reduce fees to almost nil with instant transactions, a significant advantage to current processing fees. Bitcoin is still teething, check back in 2040. We will see where it is in 2040.

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    The purrrfect time to pick up cheap coins because it's only a matter of time before they bounce back

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    Quote Originally Posted by Casino Extreme View Post
    True indeed ,this is a perfect way for making billions in a matter of day ,week ..etc . I wonder who losses at the end ?
    People who panic sell I believe.

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    Quote Originally Posted by Triple7 View Post
    I think bitcoin has quite some influence on other coins. A crashing bitcoin, affects also other coins as it's bad for the confidence in general in this kind of coins.
    True because Bitcoin is still the principal connection: to buy altcoins with cash, firstly one needs to buy Bitcoin and then change it to altcoins.

    I believe that if Lightning Network ins't implemented soon (that means before the end of 2018 ), then we will see the fall of BTC.
    And possibly by then a new star rising (it might be BCH or some other alt). Time will tell us for sure as nobody knows the future !
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    Amazing to see how far the cryptocurrencies continue to fall. Would be nice to buy more now while it is low, hopefully won't go much lower. Other than that hanging in waiting for new highs.

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    Quote Originally Posted by Pokerface View Post
    Amazing to see how far the cryptocurrencies continue to fall. Would be nice to buy more now while it is low.
    Everytime I think crypto is heading towards an end game ... I see this sort of thinking ...
    And perhaps it is why crypto still has some legs.

    BTC came from fractions of a cent.
    It reached $1000 in the first big hype of 2013 before dropping back to $200-$250 and taking 3 years to get to $1000 again.

    I know that BTC reached 16K, 17K, even 19K for a lucky few sellers .. but the top is not a mark of fair value ...
    A price of $10K for a bitcoin is 1200% up on December 2016 at around $800.

    That's hardly a bargain ...

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    Quote Originally Posted by Pokerface View Post
    With the fear of the implications of China and South Korea all the cryptocurrencies lost value yesterday and continues today (so far). Any comments to explain further and predictions?
    Unsure what is going on but what I see from the pattern is every Monday around 7pm (Manila time where I am based) I start to see the mass sell offs and drops. Makes me believe this is when the US stock exchange market opens and their is a connection to it. It seems to recover slightly near the end of the week till the next Monday approaches.

    Even the skeptics state bitcoin will be around in 100 years from now, but not in the same shape and form. The bubble probably has been reached too quickly and too steep and what is happening now was inevitable. I am going to HODL, as I am reluctant to sell when I saw my personal portfolio double of what it is now just over a month ago. However selling now or holding is a gamble.
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    Quote Originally Posted by eaton2003 View Post
    Even the skeptics state bitcoin will be around in 100 years from now, but not in the same shape and form.
    Really? Name one. I haven't seen any such claims.

    I don't think an technical "expert" would pretend to know what the future of internet payments and digital cash would look like just TEN years from now, let alone A HUNDRED.

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    Real Bitcoin News

    Bitcoin now 50% down since December 2017!

    South Korea to ban cryptocurrency traders from using anonymous bank accounts.

    Swedens major banking group Nordea bans bitcoin trading.

    Nobel Prize-winning Yale economist Robert Schiller: "It reminds me of the Tulip mania in Holland in the 1640s, and so the question is did that collapse? We still pay for tulips even now and sometimes they get expensive. (Bitcoin) might totally collapse and be forgotten and I think that's a good likely outcome but it could linger on for a good long time, it could be here in 100 years."

    Bitcoin hypsters spreading fake news on the internet with intent, e.g. that Amazon will accept Bitcoin. Also organized "Pump and Dump" operations are rising to manipulate the price.

    Leopold

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    I wait for the next drop/burst. ethereum mining is the new trend,and i dont wanna pay the double price for computer components .

    When Bitcoin drop really hard 2-3-4k,this would be the end for this currency - maybe.

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    @Progger

    Ethereum will switch to PoS (proof of stake) this year.
    It's no longer worth to build mining rigs for ETH. You will waste your money.
    I sold all my rigs in late Oct '17.

    Don't do it.

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