Can someone explain in layman's terms how this happened?
Can someone explain in layman's terms how this happened?
Brody Robinson
Other urls found in this thread:
Brayden Mitchell
people were making too much easy money on paper. that money didn't actually exist, as you are witnessing right now.
Hudson Hill
so is it because Christmas? too many people tried to cash out at once?
Daniel Turner
Bitcoin hit 10k. The hype from this caused it to rapidly rise to 17k, killing ALT/BTC pairs. Then the alts naturally tried to rise to their price in BTC as it was on Dec 1. This explosion in total market cap was too much for the market to bear, and we are now imploding. It is possible the events of the last month will repeat themselves in fast-forward over the next few days, but this time BTC will continue a slow rise to 25k with alts not far behind.
Jacob Jackson
In the absolute simplest of terms:
>People invest in something non-physical whose value is not connected to any asset
You need to be aware that any value more than a penny for a non-physical asset is a bubble.
Robert Davis
Its musical chairs faggot and someone is about to get left standing
Angel Perry
It's impossible to know for certain, but I would guess that it's general panic from people who bought high and has nothing to do with trinkets for mom.
David Phillips
Roger Ver timed the worst possible time for Bitcoin Core, organized an attack to try and move people to Bitcoin Cash. It succeeded, but it exposed to normies that Bitcoin Core is literally shit, hence, discrediting crypto in peoples minds.
More things also happened (Tether, Charlie Lee selling) but that was the main trigger.
David Cruz
It was in the water from the time futures were introduced.
They didn't do it at once, as everyone anticipated mass shorting. They waited till everyone internalized that futures aren't a threat.
Till now, just before years end for everyone to get a fat bonus.
Jack Taylor
Roger Ver "attacked" BTC.
BTC is such a shitcoin that one closeted homosexual man who squanders most of his money fucking ladyboys was able to take it down. Sad.