/biz/ - Business & Finance

>>7360754
The market was overvalued.

ppl who own like 70% of btc and eth decided govt regulation impending was too risky more or less and wanted to get usd and weather the storm for a while

>>7360754
How new are you?

rich people want to get in and it's too expensive for them so they crash it since they don't have a time machine

>>7360754

>>7360754
>Stocks crash
>Whales panic and begin liquidating their portfolios
>Many of them own bitcoins
>Bitcoin dips as they sell
>Everyone sees the dip and sell
>Bitcoin crashes

>>7360754
And there won't be one. It's 100% crowd psychology.

>>7360754
It's a bubble, bubbles pop eventually. Let's just hope crypto dies for good. Anyone who didn't sell when it was peaking deserves this.

> Tether FUD
> Gov. regulations
> China banning foreign exchanges
> Bitconnect
> 530mil $ stolen from Coincheck
> Extremely explosive and exponential growth for the last two months (correction was due)

>>7360754
An amazing bull run will always end in a catastrophic crash.

>>7360822
>>7360830
kek

>>7360754

>>7360796
WELL BIZ OWNS 70%+ OF THE PINK WOJACKS HOW COULD THIS HAPPEN

no more good news is left (nonstop FUD)
so people are panic selling

we'll eventually get to a price where people see an easy 2x is possible

All that money was based on vaporware. Not one single coin that actually did shit except for BTC. The only value of the coin was based on it going up, when it became apparent that it wasn't going up anymore, it lost its value. It will go up again but not until it finds a floor where it will sit for awhile.

>>7360777
>>7360796

I say some mix of these things. The market was overvalued and was being fueled by hype as well as the people who held most of the money were looking to retain their gainz in case something bad happened.

>>7360859
Should I just liquidate everything, then?

whales were cashing out and apparently caused the price to tank? as soon as anyone big decides they want to cash in on this shit the price shits itself

>>7360796
This probably. Also if you think about it from the perspective of the big guys, theyve held up to almost 20k and now all the way down to sub 10k. A lot probably regret not cashing out more and figure they need to take some out no matter the price just incase.

>>7360881
>All that money was based on vaporware.
low iq detected

>>7360817
literally this. mcafee let the cat out of the bag and everyone with money has realized it by now. last chance before the entire world scrambles to put their money into crypto

cause people have had enough of the bitcoin

>>7360893
2 late retard, how do you idiots not understand this? the time to liquidate was at 19k

Crypto is a SCAM.. youve been warned

>>7360822
>>7360830
>>7360863
>>7360876
seriously though i want to smell that

>>7360822
>>7360830
pls use the animated gif. ty

>>7360965
I'm talking about the stock market my dude. I thought that's what this was about

>>7360754

Gee.
Maybe because Crypto is and always has been a ponzie scheme?
Did you actually think that shit would replace government issued currency? Did you think world governments and the rich elite wouldn't stop that shit when they got out of control?

Smart people knew it was a scam going in, and played along just long enough to cash out and scam the scammers while morons stuck around watching their literal air go up in value thinking it would honestly keep going up with no signs of stopping.

>>7360965
>If you don't sell at the tippity top, you should never sell

Internet meme coins are a scam ..

>>7360754
It's a correction, it's correcting to what it was at the start of the 2017 bubble which also is ironically when the bitcoin crash of 2103 recovered, either way I will be buying back in at $1k

>>7360754

To put it simply, the big guys beat you out. The masses, including big funds, were let into cryptocurrency, and they heavily bet against you.

https://www.wsj.com/articles/little-guys-and-big-trading-firms-square-off-in-bitcoin-futures-arena-1515326400

>>7360754
Because the world is ending and markets are only just now pricing in the end of the world.

The system is broke. There is no rule of law in the US anymore or anywhere else nobody even knows what the fucking rules of the game are anymore.

Shit is fucked.

>>7360754
Are you completely oblivious to what's going on with the Dow Jones, Nikkei, and Powell being in charge of the Fed? On China banning foreing crypto platforms? Or do you believe this is unrelated?

This is expected. Not permanent.

whales manipulate the market to get some profits and accumulating even more crypto, pretty obv if you ask me

There is charts and wholesome explanation about the subject, you just need to listen.

>b-but it's not bubble, 0 and 1s have intrisic value, at least I can eat my buttcoins if none wants to buy them

>>7361068

This guy gets it

>>7360754
The big players wanted in

>>7360754
Are you retarded?
he bigger the bang the bigger the bust, easy 1x1 of economy.
Boomers greeded in without brains and now they realize btc is basically useless, that's what's happening.

>>7361068
>the bitcoin crash of 2103 recovered
I know it's just a typo but "The Great Bitcoin Crash of 2103" definitely sounds like something someone would reference in a sci fi novel.

sabotage trump for exposing deep state, they will create angry mob to remove him

>>7360754
It's because buttcorn is outdated fucking garbage and everything is traded in it.

Where do you think all that stock markey money is about to go?

>>7361162
Sorry, we are in the blow off phase (except there is no return to the mean)

>>7360754
Bubble burst

>>7361162
>Still believing this
You can't be serious

>>7360754
who is this dapper brapper?

>>7361269
Na, cycle repeats itself. Stock market money will be “smart investors”, then we get institutions with them and then we see a normie run once again by the end of the year.

>>7361034
I tripled my money, after transfer fees and gdax direct withdraw fees, taxes all paid. I could care less if its a ponzi scheme why do you care even.

>>7361365
Everyone believed when we were at 8k lol, the sentiment changes quickly here, try to deattach your emotions from you trading stack kid

>>7360832
Bitcoin has been going down before stocks started to tank.

>>7360754
Normie realized Bitcoin is a huge scam. There really isn't any other reason.

>>7360754

Satoshi Nakamoto was upset about all the shitcoins so he's unleashing some fury.

>>7361460
this
>>7361365
what news has come out to change your mind? is an encryption algo proven broken? are they going to ban it? did LN get canceled or some top10 scam out? no... sooooooo...

oh yea it's just dumb fud because either you're making money off it, or because you lost money being a dumbass

>>7361563
This, it's so easy.
They were lured in by a meme and now they DTOR.
I remember getting lectured by that faggot I know about how it all crumbles down, dollar and euro to go to zero and everybody will pay with btc.
What a dumb fucklet, I love how dumbos who simply bought into hype suddenly became market experts over night. I love seeing them get rekt right now.

>>7360859

>>7360754
The explanation is Chinese new year, and a series of government comments and actions in China, South Korea, and India. Where the fuck have you been you peabrain

>>7361139
Fixed

>>7360843
Saying that x is crashing because it's a bubble and bubbles pop is like saying your house caught fire because it is flammable and flammable things burn

That is not an explanation, that's voodoo economics

>>7362084
it's called begging the question

>>7362084
The price was artificially build up by mania and torn back down by panic & despair - Bubble