What caused this?

Christmas sales

>poor normies invest in buttcoin with their last money
>christmas time, need my money for presents
>be poor again at the end of the month

btc is an overinflated shitcoin with zero actual value, it was bound to happen sooner or later

...

It's hilarious how smug and self satisfied Veeky Forums is when it goes up. The instant it goes down the insecure /pol/tards who thought their monopoly money actually stops Jews start screaming

How low will this go?

It's definitely NOT because they introduced futures...

There is a lot happening behind the scenes you're not aware of. right now, and the whales have made their moves already. With Normies on the way out, be careful you're not the ones left behind. Crypto lacks regulation, and a perfect storm is brewing. We take for granted that exchanges do the right thing with their reserves. However, with everyone cashing out, one major exchange is facing a major liquidity issue, and could suddenly go offline within the next 24 hours when they run out of REAL fiat. Stay calm, don't get emotional. But what you need to do is choose a reasonable exit point (small spike), and GET OUT. This is not a HODL situation, save what you have. Good luck, see you on the other side

Two factors:

1) Bitcoin's scaling problem reaching levels where it no longer properly functioned as a currency. This meant even idiots understood it has no future in its current form (i.e., no million dollar bitcoins).
2) The new American tax bill removing BTC as a tax haven. That removed one of its main current applications as a tax evasion tool.

>one major exchange is facing a major liquidity issue, and could suddenly go offline within the next 24 hours when they run out of REAL fiat

Coinbase?

People started realizing that bitcoin is worthless and has no real world functionality.

AHAHAHAHAHAHA

#1 is most relevant.

Newbies got in, started making money, felt good... then when they learned how to buy alts on an exchange, they realized the BTC transaction fees...

hey Barb.

It's not Coinbase. Iif you refuse to cash out, at least get everything off the exchanges and into a wallet.

chances of this happening?

It's bitfinex.

This

Normies and Christmas.

>Hurr let me buy BTC at 18k, the news talks about it, I'm going to double my money in a week!
>Oh shit it's Christmas, wtf BTC is not doing anything????? SCAM! Let's me take all my money back so I can buy a gift for my wife's son and put the rest is the good 'ol ((((((secure)))))) banks

>everything crashing
>(((XRP))) mooning

Obvisously (((they))) shut down the market because shit was getting out of hand

Turmoil over BCH being added on Coinbase at the same time all the professional traders were cashing out for Christmas

This man knows

so much FUD. it's just the correction for the MASSIVE bull-run we had over the last 2 weeks with whales taking profits.

exchanges are doing fine, plenty of new money coming in from normies.

lel

the normie media lost interest after a couple weeks and now the boomer money is drying up

Bitcoin cash going to coin base and then accusation of insider trading. It'll end soon.

>Insider trading
>Completely unregulated internet money
Pick one retard

Do you have split personality disorder?

well its happened multiple times in the last five years so pretty good

blockchain.info/unconfirmed-transactions

people want out of this meme.

Bitcoin is too early. I am bearish on it for a few years.

Roger vers criticisms of bitcoin core/ btc were all correct and he has brought all the issues to the public and the forefront. No one want to buy this shit anymore.

Roger wanted this to result in the flippening, but what he doesn't realize is no one is a looney ancap like him and actually wants to use decentralized money to buy coffee, and so his plan will fail too, as all crypto will get fucked for the next while,

>leddit spacing
god you people sound so pedantic, so you internet monopoly money turns out to be actual internet monopoly money, cut your losses and buy some real fucking stocks

losers

your misreading me, yes to reddit, no to cutting my losses. I sold at 19k and have seen this coming for a while

The same one that pushed tethers?

BCH and insider trading. It will go down as the biggest scam in human history. Roger Ver and company sold their BCH for $7,000 a coin and drain the entire cryto market dry.

20.000 as a round number barrier

people who bought lower took their chance to dump and go back to fiat
90% of people invested don't give a flying fuck about crypto ideologically and just want more dollars
there is no fancier explanation to make you feel better, everyone who bought above 15k is an absolute retard

This is not a crash, it's a correction

Thanks for this (((prediction)))

So you agree ....its the Jews?

t. -20% BCH/BTC

If that's the case why is BCH falling?

This is not a crash. It is merely the market bucking off the normies. You'll be grateful on a month. Until then, enjoy the holiday discount.

There's 3 fucking stories about crypto dip on R/all it's over boiz Gg n ormies popped it. But they're running for the hills so there might be a chance they leave for another year

>What caused this crash?
BTC has been on an incredible bullrun since November. This is the correction.

People are selling for Christmas. Wait till everyone gets their Christmas bonuses and wants to try out that "bitcoin thing" they keep hearing about. Prices will go fucking nuts mid Jan like last year.

You might actually have a valid point there.

Personall, I don't like Ver, I think he is a total narricistic moron. I think he's over zealous, too self-centered and ignorant of the world around him to understand that his political points of view aren't going to succeed in the long-run. I think he definitely is pushing for the flippening, but fails to realize that by pushing BCH so hard in the mainstream, he's causing severe confusion for the newcomers to crypto and thus, weakening BTC's stance as a store of value.

Ver has said it himself, Core is outdated, lacks the transparency needed to be fast and easy to use, fees are too high and it's become heavily centralized. But it could make a great store of value, like gold.

He is totally right in this stance. However, he isn't realizing that he's also weakening Bitcoins stance as a store of value. It's been too volatile, and with the constant bashing of core on his part, the addition of futures and CME's, on top of the most recent Coinbase controversy, Bitfinex and Tether ready to explode any minute, we could see the crypto "bubble" pop any moment.

I'm no expert, just a poorfag with a little under 1k in crypto, but I have a gut feeling that things are going to get rough during the next couple of weeks. Stay vigilant, HODL, and watch BCH cohorts closely.

I think it's over here is why
1) astronomical transaction fees
2) its now full of normie retards who bough high

There was an inflection point around the 12th of Dec when allot of alts started to accrue in value. This was coincident with the bitcoin ATH.

Now, alts usually act as a heat-sink or buffer in the case of a bitcoin drop. They tend to stabilize price drops quite quickly. Back in 2012 the only thing you could trade your BTC for was USD, so in the case of price drops, there was only one safe haven. These days when there is a BTC dip, alts go on sale. A BTC that is sitting on polo as a buy order for XRP is a BTC that can't be sitting on gdax as a sell order for USD.

Over the past 2 weeks, alts have begun to look VERY overvalued. People are beginning to second-guess the wisdom of getting into alts during a dip. Only place left to go is USD.

From $400 to $250 jost