Everything is bleeding except for few coins. What anons here think is the reason? No FUD allowed ITT, only proper analysis and explanation of current situation in the crypto market.
Everything is bleeding except for few coins. What anons here think is the reason? No FUD allowed ITT...
people taking profits
Literal shitcoins valued more than actual multinationals that offer value in the real world is simply not a realistic valuation. Most coins are overpriced.
people cashing out, it will pick back up, and the people cashing out always reinvest, always.
Lots of FUD in the news. Things are starting to look more stable tho.. weak hands empty by now.. ACCUMULATE NOW
long weekend, people need money for pussy and blow
Shitty alts are bleeding and only good coins remain ETH, NEO, ICX, and BTC are pretty much the same and didn't bleed (or mooned in the case of NEO). If your coins didn't bleed you picked well.
reason is that crypto is tulip mania 2.0.
1xxx of shitcoins and not even ONE has got a real use.
maybe monero. but thats it. u could kill all other coins off.
this is just the beginning. crypto will crash in the next few weeks
when is the market going to pick back up?
the tulip mania analogy isn't good for crypto, tulips are perishable, crypto is not.
It will pick back up within a few months, people have taxes, and want to buy shit with their moon mission gains, if you sell right now, you're going to have to buy in at a higher price, so sitting still is the best option even if it makes you want to cry wojak tears, most of the people investing into crypto now are new to the market, it has always been like this, the money is here, don't worry.
Probably February/March, lots of stuff is launching around that time for several coins like XLM, ICX, NEO. I am sitting in mostly ETH/BTC and a little NEO/ICX right now, they are the most stable from what I am noticing. ICX surprises me the most, considering all the Korean FUD surrounding it, it barely crashed at all and isn't even bleeding. It's a top tier buy right now IMO.
>It will pick back up within a few months
holy shit FUCK YOU
This isn't true
I'm talking about moon mission gains nigger, not this 2-6% bullshit most altcoins are getting
next week will be green
>it has always been like this
history always repeats itself. sure sure.
enjoy ur losses. if u dont sell now and cash out u are a brainlet. this is the beginning . we will go MUCH lower.
the whole market was totally overvalued. take a look at TRON/ iota/ verge : no words.
people bought into crypto for easy money in december
now everyone is cashing out
wait a couple of weeks and we will be going up again
IMO next moon mission will be ICX and that's still late Jan/Feb... plus if we account for wall street buying up bitcoin, we might see even more bleeding out. Funny is Veeky Forums didn't say ANYTHING about NEO being the current moon mission and it mooned more than any alt shitcoin they were holding. I barely see any NEO threads until it hit $150 and people were spamming to buy at ATH.
>CRYPTO ALWAYS GOES BACK UP THEY SAID
who cares if they are perishable or not? The analogy is 1:1 correct since both are overhyped commodities with virtual no real world Application, backed by hype and speculation. People did not suddenly back out of tulips because they just in one moment realized that they are perishable, but because they realizes what a shitty purchase it is
If you buy shitty alts you will lose everything, yes. If you stay in coins that have an actual use case or are backed well you won't lose and might even gain.
Again if you aren't in these coins you are fucking yourself:
I'll add XMR too. I would have avoided ICX entirely if it got destroyed from all this Korean bullshit but it is probably one of the most resilient I've seen, even more than when NEO was getting destroyed by Chinese FUD. That's a really good sign.
crypto and fintech will have a long and loving relationship because crypto solves some big bad problems in finance, namely international transaction speed, fees, and security. as such you will notice that the government-backed shit that is confirmed to be related to big fintech projects is resistant to the dip. it's too bad that the US govt doesn't have its own crypto project but the US govt is run by literal retards rn so w/e
other uses of crypto are tbd but it's already proven to be a good next-generation concept for moving moneys around
plz be true
nobody posts about moon missions on public fora anymore
>pic related, brainlet
shh bby is ok
I-Is everything gonna be okay user?
please tell me it is
This is just my speculation.
It's a correction and no money flowing in adds more to the problem.
Registration for big exchanges is disabled, some require referral code, some is down.
Seems like the xrp mooning is what triggered it, it's on news and ads almost everywhere. all alts is on a bull run shortly after xrp moon until big exchanges stopped accepting new users. This made kucoin coins price rise until binance start accepting registration again by referral code.
The worse thing is people that just got in before big exchanges stopped accepting new user is they're buying most coin at ath
>If your coins didn't bleed you picked well
This shitcoins have been pumping because of pure speculation and now they come back down. It's called a market cycle for a reason.
I am 100% in neo because I think it is legit undervalued with a small market cap, is going to have some great ICOs coming up and a developer conference at the end of the month. Even it goes down a bit in about two weeks it will pump in a way that makes the last few days seem like nothing.
Nice being able to sleep for 12 hours and not worry about you portfolio getting destroyed.
Poor man economics would tell you that the run up at the end of year was a binge just like your one weird uncle staring down that piece of pumpkin pie. Weird uncle this month is trying to not get diab33tus so he is backing off.
>No new money coming in
Fuck, this makes a lot of sense.
R A R E
I'll go ahead and give you a (YOU), but multiple alts actually have real world use you ignorant shit coiner
for the past few weeks the exchanges literally couldn't verify people fast enough
when they start buying we'll be saved ? right?
Y'all niggas have amnesia. The market crashes every week.
Well done pepe
>Many modern scholars feel that the mania was not as extraordinary as Mackay described and argue that not enough price data are available to prove that a tulip bulb bubble actually occurred
Well, a few factors
1) We just saw a massive influx of money into the market. The entire market just had a huge legup, we're looking at the minimum x3 for most coins. This all happened during the span of a few weeks.
2) We've had either exchanges close down (Coinsmarkets) or stop accepting new users. This is causing a constriction of coin distribution.
So, older investors seem to be cashing out, albeit at a rather controlled rate. What we're seeing is some sideways movement, the market is definitely taking a breather.
The market might take another dip, we'll see some more consolidation and sideways movement before we see another rise. I wouldnt be surprised if we see a major dip in BTC down past $10k, but it will not last at all. The bull market is far from over.
>for the past few weeks the exchanges literally couldn't verify people fast enough
>for the past few weeks
nig I'm waiting a month and a half for my bitstamp verification to go through
Yesterday 4.5 BTC
Now 3.5 BTC
Going to KMS but not fucking selling