Bitcoin Plummets Below $7,500

FrgMstr

FrgMstr

Just Plain Mean
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While Bitcoin did have a bit of a rally this weekend as it popped back up to $9,500 on Saturday, Monday has not been as kind. Many folks think this is because of Lloyds Bank prohibiting cryptocurrency purchases using credit cards. (Who the hell buys crypto with a credit card?) You can watch all your crypto dreams crash at coindesk.
 
Dec 2013, buttcoin at $1300, jan 2017, buttcoin at $1300. Enjoy your gains and investment. At least now volume is so low that cheap transactions issued in november are finally being processed...
 
I believe other cryptos will take off but I think Bitcoin may be done unless they change their game.
 
It's getting close to where a bunch of people forecast it to close in 2017. ~$6k
 
I don't understand 1. why these crashes surprise "investors. 2. why skeptics treat these crashes like it's the end of bitcoin. Bitcoin is still up 700% over the last 12 months but anyone who thought $19,000 was a reasonable price was just insane. The price went off the rails and now the market is correcting itself. had you bought in 12 months ago and cashed in today after the "catastrophic" crash you still made more than you would have putting your money any place else.
 
Keep dropping please.. i will snatch up cheap BTC only for it to rocket again.
 
needs to lose 90 more percent


on the other hand, the stock market is probably finally seeing the bigass correction it needed since Trump started work.
 
Now see if you would have just diversified and bought a crypto index fund, you wouldnt have taken as big as a hit if you just invested in bitcoin.

Oh wait the entire market follows bitcoin...

wzSdXm9.png
 
Kdawg said:
needs to lose 90 more percent


on the other hand, the stock market is probably finally seeing the bigass correction it needed since Trump started work.
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I'm no fan of his, but what does this have to do with Trump? Can we leave him out of things that have nothing to do with him?

EDIT: Ah. Stock market. Makes more sense.
 
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Well looking at the incredibly short time period for that graph, I would call this simply a massive spike in buying frenzy more so than I would think this bitcoin going down the crapper.
 
Interesting, I looked at the trends for other coins, when BTC took it's initial dive, some of the other, LTC in particular rallied, as if investors were divesting BTC and moving assets in LTC and others. then it all went to hell for everyone.
 
Not terribly surprising...stock market is down as well. Personally, I think equities are overdue for a correction (10% or greater decline). Bitcoin will be much worse. I don't know the "real" value of bitcoin, but I know it isn't 20k per.
 
20k would have been fine, even more than that, if they had a scaling solution, but they failed to provide a reasonable one fast enough.
 
~CS~ said:
20k would have been fine, even more than that, if they had a scaling solution, but they failed to provide a reasonable one fast enough.
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Or actually agreed on one, would have been progress....
 
celeron300 said:
Next year when Bitcoin is multiples higher, this won't be remembered. Skeptics have always been around.

http://nakamotoinstitute.org/the-skeptics/
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People keep saying this, and never explain why it's going to happen.

let's be realistic here. BTC gained like this on the backs of speculators and idiots who chase dreams, not the people that have been driving crypto since the launch. once the lotus eaters realize what the word "Speculation" actually means, the prices will normalize.

Kinda like they are doing now.
 
Do NOT buy used mining hardware. Make them eat their costs. Get-rich-quick schemes attract unsavory people, I got burned on some 290s last time around and ended up with a bunch of money sitting in ebay/paypal claims limbo. The cards that did work started failing after a year or so. One of the three I bought is still working, though the displayport is dead.
 
DeathFromBelow said:
Do NOT buy used mining hardware. Make them eat their costs. Get-rich-quick schemes attract unsavory people, I got burned on some 290s last time around and ended up with a bunch of money sitting in ebay/paypal claims limbo. The cards that did work started failing after a year or so. One of the three I bought is still working, though the displayport is dead.
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Don't get ahead of yourself, mining is still profitable. This is just a correction.
 
I sold a crap ton of Crypto near the spikes/highs. Will be buying it all back soon and pocketing the difference. My best sale was 600K Dogecoin @ 1.5cents each. At about 0.35 cents now, I'll finish my buy back between 0.2-0.3 and hold for the next pump in 1-2 years. Rinse and repeat. I did buy some back, but resold it, and they've continued to go down. Free ~$13K is my guess when all is said and done.
 
OMG everyone should panic and sell immediately, don't think just sell sell sell! I'm more than happy to add at a massive discount.
 
~CS~ said:
Don't get ahead of yourself, mining is still profitable. This is just a correction.
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dude ETH LOST 20% OF ITS VALUE IN SIX HOURS FUCK THAT id be done sell your shit will its still worth something once its under 100 bucks 1070s going to be going 10 bucks on ebay
 
Elios said:
dude ETH LOST 20% OF ITS VALUE IN SIX HOURS FUCK THAT id be done sell your shit will its still worth something once its under 100 bucks 1070s going to be going 10 bucks on ebay
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LOL hardly.

More seriously, I think the the best we can hope for is a return to normalcy in the GPU market. I know I'd personally hesitate to buy a used GPU for the foreseeable future.
 
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