Quote from: aardvark15 on February 05, 2018, 05:32:18 PM

$1000 seems too low for the Bitcoin price to drop. If we compare to the crash in 2013, the price dropped from about $1200 to around $200 over the course of a year or so. If we get the same percentage drop this time, that would put Bitcoin to around $3300 just using rough numbers. That seems unlikely also, but you never know. I think the difference this time is that there are a lot more investors in the market.

There are also more new people getting into it, and I think if they bought high and are for the first time since buying watching the price drop like it is, they could easily spook and sell. Those of us who have been involved for a while have seen this before and other than selling a little here and there, for the most part can simply wait out these lows or even use them to buy more.

There's been a string of bad news for various cryptocurrency projects, and I think that's also spooking some people into selling.

It will pass...