Quote from: TryNinja on February 06, 2018, 02:43:52 AM

I saw those posts on /r/bitcoin that exemplifies my thoughts on the recent Bitcoin crash.

Quote

There is not enough money pouring into bitcoin right now.

- New people (who don't really understand bitcoin) are getting burnt hard, so they'll say 'Ah, so it is a bubble' and they will sell.
- Hodlers already have their money BTC, so they can't drive the price up.
- Institutional players know a bear market when they see one, so they are not touching this thing with a 10 ft. pole until it shows some clear signs of recovery.

To drive the price up, there needs to be more demand than supply and quite frankly, it's not here right now. Even the most bullish people are turning bearish right now and are selling off. Not because they don't believe in bitcoin anymore, but they can get more bitcoin if they sell now and buy when they (think) it bottoms.

This is a bear market. You don't get 70% slow correction and not call it a bear market. The last (real) bear market took 3 years to recover. I don't think it will take that long this time around, but I'm finding a year really plausible.

Quote

Remember, it only took less than a month to get from $6k to $20k. So it's not surprising it can go down from $20k to $6k in a month and a half.

Why would that surprise anyone actually? It took longer to decline than it did to rise. So that's something.

I'll bet the next cycle to $20k will take a lot longer. Maybe a year or more.

Quote from: rickdeed1956 on February 06, 2018, 02:04:23 AM

If I had merit, you would of received it. Couldn't of said it better myself. Much like all social media outlet nowadays, they are so skewed and bias its hard to take anything serious.

I gave him one for you Cool

I believe McAfee would even have support Bitconnect if he had been paid enough.

Sources:
[1] https://www.reddit.com/r/Bitcoin/comments/7vgl8f/the_best_thing_about_this_crash_is_that_we_can/dts3rxi/
[2] https://www.reddit.com/r/Bitcoin/comments/7vgl8f/the_best_thing_about_this_crash_is_that_we_can/dts5onj/

We must face the reality, that in the crypto world, the business here is up and down.. TIME OF PUMPING, TIME OF DUMPING. We truly need all stratedy to live for, to rise again to maintain our potential, our patience our mind power to more have determination for what currency had happened. Just hold on on positive vibes. No matter what always think positive, always smile and always b present mind. More power.