20 billion disappeared from the market cap in 12 hours. Unlike a 20 billion cap rise, which causes euphoria and parabolic growth, this will shock and deter people for good - especially ones who got in and lost their pants. Brothers, mothers, sisters, kids - they will all be told to stay away from this piece of shit and capital required for growth will stop flowing in. This means the downward spiral will go on and on. None of them are looking to come back for another ride. None of the potential investors are looking to come back and throw more at it. The alts will start dying starting today. The trust is gone. Bitcoin does NOT have an intrinsic value. This means it could drop to any low any time. Especially with chink money involved.
Unlike 2013 when Bitcoin was new and exciting and worth getting back into, now Bitcoin is like an annoying old hag - with a big backlog, slow, expensive and still surprisingly hard to get. Stop looking at the past charts where it always makes a beautiful recovery. This time, we are going down HARD. If you sell now, you still left at the top.
>they will all be told to stay away good fuck them and their weak hands
Eli Allen
Weaponized autism
Kevin Young
And whales realize it. When Joe Schmo is stopping his family from getting in and their money is off the charts, it's time to dump - to cash out the profits or to save the stack. They are also not looking to reinvest. When the whales fuck you over, it's done. Of course there will be resistance from a few daredevils, but the card house already started its collapse.
Charles Carter
nah i'm buying in when it bottoms out
Nathan Torres
Then you are about to become incredibly rich shorting btc with 100x leverage right?
Bentley Reed
The one net benefit is that once BTC falls, it brings the Alt-coins and ETH down with it.
ETH prices will soon be cheap enough for the clever prospector
Carson Hall
There is no bottom.
When the stock market crashes, the cost of the idea is shaved off the price and more. But value of the technology, assets, infrastructure usually remains. Something physical exists in the real world that is being used to back up the investment. When Bitcoin crashes, what is left? Absolutely fucking nothing. This is why you should be afraid instead of buying up bags.
Wyatt Fisher
Any ETH price after $20 was retarded and just bags of hot air.
Charles Fisher
nice image, did you make it?
Jeremiah Foster
Even though most people probably don't use it for this purpose, it still acts as a darknet currency.
Nicholas Evans
As long as the grid stays on, Bitcoin will have value.
Owen Gray
NUH-UH I'M STILL HODLING
Suck my penis please OP.
Xavier Torres
In the crash of 1929, when an ounce of gold was 20 bucks, give or take, the stock market lost 14 billion dollars in value. There is a bottom for all assets, tangible or not, and that value is zero.
Back when it was exclusively used as a darknet currency, it was valued at something like $1.
So maybe it would be correct to indeed say the bottom is not 0, but $1. But Monero and Zcash are better darknet currencies anyway.
Connor Watson
Top kek
This
OP is a faggot
Nicholas Cook
>newcoiners panic sold at their first dip They will come back when the market rebound and BTC hits $3000. Then when they rebuy they will have hands of steel
Charles Nelson
No commodity has intrinsic value, not even gold. Value is a quality assigned by the subject (thats people) to the object. I know this goes against your libertardian philosophy, but exchange value is determined by human input and output, not some magical force innate to the commodity itself. Blockchains essentially harness the power of network effect, and guess what, that is not going away any time soon. Just take a look at coinatmradar and then try to tell me bitcoin isn't going to make it.
Angel Edwards
I'm gonna stay in for a week. if it's dropping. half, then go back in the next week. If there's any bounce from people propagating this shit, then it's about this hit. The real bubble hasn't happened yet. Businesses haven't adopted. OOOOOh. and I can't wait for the fuck bottom of the bubble
And what the fuck are you talking about? I'm holding
Christopher Nelson
When BTC blasts back past $3k people will pile in like crazy. When Bitcoin recovers from a dip like this people will think nothing can stop it.
Did biz already try to register on some indian exchange and sell their bitcoin for overpriced 3500$? Question is, how to get that fucking fiat to another exchange to buy for cheap.
