Quote from: Sir Cross on February 06, 2018, 03:51:49 PM

Quote from: magneto on February 01, 2018, 08:58:34 AM

Quote from: zarados on January 31, 2018, 03:55:32 AM

let me remind you of this, that this is not the first time bitcoin has crashed very significantly and its not the worst of all crash. (correct me if i'm wrong) Based on bitcoin history, crashes occur on:

2011 jun- Nov: -97%---> From $ 32 to $ 2
2012 jan - Aug: -36%---> From from $ 7 to $ 4
2013 Mar 6 -11: -25%---> From $ 49 to $ 36
2013 Apr 10: -79%---> From $ 266 to $ 54
2014 Feb 24: -49%---> From $ 867 to $ 439
2017 jun 11-16: -36%---> From $ 3,000 to $ 1.869
2017 Sept 2-15: -40%---> From $ 5,000 to $ 2,972
2018 Jan 17: -48%---> From $ 19,783 to $ 9,496

If viewed from history, crashes often happen every year since 2011 and proved that this year is not the worst year of the year - the year before. What do you think, whether this crash will continue or not?

Crashes are going to be expected as long as cryptocurrencies exist. I think that there is no doubt about that. You simply cannot expect bitcoin to continue rising without any sort of crashes, that is just going to be 100% impossible.

This time, bitcoin definitely did not crash as much as 2013 or 2011.

In fact, it is around the same size as the crashes that we experienced last year.

I am still quite optimistic that the price will go up despite of this, and settle above $10k. Right now, an all time high will be quite hard to achieve but I think the major support level will be strengthened at $10k.

As compared to the past year, the price of bitcoin is still very high. People have overreacted to the price drop because they were overwhelmed by the near $20K marker last 2017. Especially for people who are just new in the cryptoworld and bitcoin scene, they are very much affected by this price drop having experienced the rapid price climb last December. By assessing the price chart, you can tell that the price is still in good shape despite that the trend for now is going down.

If you bought a few bitcoins near the top, you would indeed overreact when the price crashed over 3 times within so short a time span. Jesus, you would actually freak out when you realized that your deposit had been halved and then halved again. Even experienced and seasoned traders would be out of their element if they experienced such a setback.