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7328383 No.7328383 [Reply] [Original]

Has Bitcoin ever corrected/crashed this much before? I need to hear from the guys who have been through this before. Thanks anona

>> No.7328524

Too much other stuff going on to compare it to the past

>> No.7328538

No. Remember that big 2013 crash you always hear about? This is much, much bigger both value and percent-wise.

>> No.7328577

>>7328383

Yes but not since this rally began in November 2015. A lot of long term indicators are being taken out right now indicating it could be over for some time, years perhaps. Depends whether we bounce this week or close another terrible weekly candle down

>> No.7328602

>>7328383
Yes, ffs this has happened many times before. Crypto will recover but it will get worse before it gets better

>> No.7328621

Well I remember it crashing from crashing from $1000 to the low $300 so no it’s not the biggest.

>> No.7328632

>>7328538

What was the top in 2013, and where did it settle? Was that the Mt. Gox crash?

>> No.7328668

>>7328538

2013 peak was roughly 1200 and the final low a year and some bits later was ~150. That's worse. We also hit 266 in April 2013 and touched a low of like 45 a few days later. Then 2011 we rallied from like 1 to 30 back to 2.

>> No.7328703

why don't you fuckin look it up instead of asking to be spoon-fed online

>> No.7328701

>>7328632
No MtGox was in 2014 from what I remember, the high was late 2013. I remember picking up some below 300 even in 2014 and people saying crypto is done.

>> No.7328718

>>7328621
Even hit 200 for a while. These fags see a 60% loss and think it's the end of the world.

>> No.7328771
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7328771

>> No.7328806

>>7328718
Yes it’s funny watching this, seeing as we have been here many times before.

>> No.7328931

>>7328806
It is funny. I see dozens of FUD threads about ppl selling. I aint even thinkin about selling. Only buying. And shitting cuz i am on the throne right now.

>> No.7329026

>>7328668
This

In order to see a crash as big as Mt.Gox percentage wise, we would have to see ~$2000 bitcoin.
However, it was a much smaller market back then and easier to crash therefore

>> No.7329050

1400 to 167 after Mt. Gox

t. trader since 2012

>> No.7329174

>>7328771

Looking at this chart, seems that BTC always comes back to make new highs. Any reason why this crash would be different?

>> No.7329232
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7329232

>>7328538
You realize the crash of 2013 recovered in 2017 right?

>>7328383
No it's never crashed this much before

>>7328524
Like what?

>>7328602
Yeah, last time it took 5 years, ready to do that again?

>>7328621
Recovered in 2017

>>7328668
Recovered in 2017

>>7328701
Recovered in 2017

2017 - 2013 = ?
20?? - 2017 = ?

>> No.7329336

>>7329174
No difference, but for when the bubble pops
When it pops, it's just over, but I don't think it has popped just yet; too many normies left to wreck

The question is how LONG it will be until the next ATH, 1181 days again would certainly suck

>> No.7329371

>>7329232

The fact that it recovered doesn't invalidate the fact that it collapsed that much in the first place you tremendous faggot

>> No.7329500

I still remember the big crash at 11 cents. I think that may have been the biggest percentwise

>> No.7329587

>>7329500
But the market was smaller, so it was easier to go up or down

>> No.7329631

>>7329336
what exactly is a bubble pop? btc gets banned by the goverment?

>> No.7329683

>>7329371
That's my point you faggot, this could take 5 years to recover, you gonna HODL for 5 years?

>> No.7329721

>>7328383
no, this is unprecedented what we are seeing now. we are in uncharted territory.

>> No.7329786

>>7329721

What do you thing the major cause of this is....whats different this time?

>> No.7329804

>>7329631
No it'll just go up and up until one day it simply pops.

It will be much bigger than any of the other bull runs and crashes and will make them all seem small in comparison
After that, it will just have up and down like any other boring commodity or currency, and a lot of people will get burned buying at the top but it'll be just like the dotcom bomb where the good projects live on

>> No.7329827

>>7329683
Yes

>> No.7329847

not since Mt Gox, but that was a think, this is just a crash for no reason

>> No.7329857

>>7329683
Considering I have to HODL my 401k for 30 years.. yea.

>> No.7329894

>>7329683
What's wrong with holding for 5 years?

>> No.7329893

>>7329721
>21▶>>7329786
>>>7328383 (OP)
>no, this is unprecedented what we are seeing now. we are in uncharted territory.
Stop talking out of your ass this is only a 75% drop.
Bitcoin has dropped as low as 92% before.

>> No.7329944

i think back then, the government and wall street didnt take crypto seriously. now they see it as a threat and actively want to destroy it. also, the threat of regulations coming soon. government crackdowns. the tether scam. no more "new" money coming in. normies have left. the marketcap went frm 800 billion to like under 400 billion and shrinking. theres just a lot of negative things going on in our current climate

>> No.7330003

>>7329786
>>7329847
https://www.rt.com/business/417904-bitcoin-crash-continues-regulation/

>> No.7330058

>>7329847
This is a crash because of how Bitcoin's price because untethered (no pun) from reality after like 8k or so
(Maybe even 6k depending on how far back you look)

There is no meaningful way to short BTC, so there will be crashes
And naturally at a time like this the market can also overcorrect out of fear

>> No.7330075

>>7328383
I was 18 and heard about this thing called bitcoin. I started investigating and I followed the trends for a while. I finally decided I'll make a bitstamp account and put couple hundred bucks there. I was about to do it when there was a crash - it dropped from 32 dollars to 2 dollars. I was like " OH FUCK I almost put my money in that." I never deposited anything.

Two years after I got interested again and I started to invest. I did some nice gains with couple hundred euros. I was already excited when it started to moon. Then there was a crash, and I lost around half of my investments. I was super angry and just forgot it.

2013-2014 things started to moon and I remembered my holdings.I had my btc in this fancy reliable service called Mt Gox. I read a lot of investment tips so I distributed the risk to several exchanges. The second exchange was this btc-e. The third one I abandoned because of bad UI. My holdings had started to grow, Litecoin was at like 7 dollars, woah.

>> No.7330108

>>7329893
im not a financial expert, but the difference in volume is what makes this so much more significant. if a 1 billion dollar market drops 92%, its not as catastrophic as a 500 billion dollar market dropping 75%

>> No.7330445
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7330445

>>7330003
>think this is an old news article
>date: february 5th

OH NO NO NO, CHINA BAN BITCOIN AGAIN?????? FOR REAL THIS TIME?

>> No.7330606

>>7330075
2014 happened and I was super pissed. I lost around two bitcoins. I read about this mtgox claim and I started the process but it was purposely made super hard. I was making decent money at that time and I was super sceptical about BTC. I did start the process and I made a Kraken account ect. They wanted me to send my scanned ID and stuff - why? Wasnt btc about privacy and stuff? I decided to not risk identity theft. The shit had gone down anyway.

In 2017 I got back in crypto. I started with like 500. I made nice gains, and I noticed I had learned to trade a little bit. Then BTC-e happened. I was super pissed. I'm not gonna do this ever again. My friend convinced me and I had made profits in kraken so I decided to give it a go. Added more funds and couple K in December. BTC was starting to fall but I noticed that after following the minute trends for hours and following several exchanges at the same time I could predict the turning points very well. I did not play with alts, just with ETH and BTC and I made 5k to 27K just by daytrading without leverages.

Now, in two weeks I've been super emotional and started to leverage. I've also been completely fucked by Kraken nonliquid euro markets. I'm down from almost 30k to 4k. The worst part is that I missed my 3x short at around 8.5k $ by like 50 $. I have one more long leverage almost destroyed and it's gonna happen any minute, taking down 2k more.

Fuck. I was dreaming of paying off my parents debt.