Why are people freaking out? Looks like a pretty normal correction

Do they? Have you tried going out in public and asking people if they know about crypto or how to put money into it? You're checking adoption rates in an echo chamber.

This market needs to learn the difference between corrections and crashes..

This is a crash and it is going to crash further.

hmmm

they do, it was all over TV, newspapers, etc

CNBC had a whole crypto week

couldnt get away from it

go out and ask 100 people if they have heard of bitcoin and 100% will say yes

heard =/= invested

well yeah...............................

Are you kidding? People might know about it by name but they're not into it

I knew about bitcoin for like 7 years and I was never into. A lot of people consider it a ponzi scheme so they won't put any money in it. The whole process of purchasing crypto is tedious, cashing out can be just as tedious and now you have to deal with taxes on top of that.

Everyone knew about the internet in 1995 but the bubble didn't burst until 2001. Until you're getting advice from your Uber driver on which shit coin to invest in we aren't at bubble stages, we're just in another Bitcoin correction.
Even at the BTC peak about 6 people I know (that aren't internet millenial friends) even discussed it. Wait until the summer when your boss is a the water cooler talking about this hot new coin ICO.

>People might know about it by name but they're not into it
that sums it up

no new buyers

price goes down

society needs time to adjust, you dumb cunt.

this level of media attention was unprecedented for crypto, and everything you said it right. within only a week or two suddenly almost everybody knew what bitcoin was and at least a knew that it was booming.

but the public needs years to adjust to something like crypto, to get comfortable with it, before they start to see it as legitimate investing and not just gambling.

yes exactly. they may know what bitcoin is, but there is a LOT to catch up on while they have been braindead for the past 9 years.

we aren't even close to peak bubble.

CNBC crypto week was the peak, its just taking you a while to realize that

This

>hot new coin ico
>hot new coin initial coin offering

>mt gox was the death of bitcorn

show me stocks that have gone from 400+billion market cap to sub 200billion without being exposed for fraud

>years to adjust

you sound bearish, good luck

bitcoin is not a stock, a stock is a share in a company that owns things like buildings

bitcoin is more useless than a tulip

I thought pre-Mt Gox was the peak, or was it last August before China FUD?
Either way, I obviously can't say you're wrong because as of this moment you aren't. We both just have to wait and see.

dot com bubble didn't burst until after the internet was pretty mainstream. I was playing starcraft in 1998 with my friends on dial-up in grade school. Nobody uses crypto yet so I think the great bubble is yet to come. Even if this was the biggest bubble, it just means the gains wont be as fast. It's a miracle that some japanese guy made a protocol that made next to impossible to counterfeit coins and that they actually caught on. This is not going away.

>Why are people freaking out? Looks like a pretty normal correction.
>Coins correct all the time, BTC isn't exempt.

BTC is 90% of the way through its correction phase

They're freaking out because the grim reaper has just started decimating their altcoins

ETH is next kiddos

BECAUSE YOU FUCKERS TOLD ME TO INVEST EVERYTHING AT $15K YOU FUCKING RETARDS YOU TOLD ME IT WAS A DIP IT WASN'T A FUCKING DIP FUCK YOU ALL!!!!!!!!!!!!!!!!!!!

If people's alts are getting decimated they invested in shit coins. All of my alts are holding pretty steady against BTC. Obviously they are getting gutted in USD, but we all know why that is...

The good news is this is how investors actually learn. Regulated markets don't teach investors a god damn thing. Maybe next time they'll invest in good projects instead of a fucking coin for Dentists.

People are freaking out because people are starting to realize the technical fundamentals that bitcoin promised don't actually exist. Having a distributed ledger is actually pretty useless and comes with the added cost of long transaction times and high transaction cost. Smart money is starting to realize that the promises of blockchain based companies are mostly vaporware because the blockchain itself doesn't deliver.

You're overthinking it, bigly. 99% of these people did not invest in blockchain tech. Here's what's happening:
>coin prices going down
>people selling to not lose more money

That's it.

this

we really do live in an echo chamber in these crypto communities

just today, my boss at work tried to mention ethereum, but couldnt even get the name out of his mouth

>ethee...what?

last week a friend of mine asked if he could pay for things under $10k with bitcion, or if people had to spend the whole thing at once

we still have a long way to go

It looks like one big correction and not a huge crash. Why would we crash now? With so many coins invested in partnerships with not only small businesses, but corporations. Crypto needs a good revision, but we don't need it to be regulated the fuck out of.

At least you can buy Veeky Forums passes with btc, makes me wonder just how much money hiro made off of Veeky Forums purchases via btc.

Seriously. We aren't seeing projects with huge partnerships and multiyear plans like Icon, VeChain, Ripple, Ethereum, Neo, etc. packing it up and calling it a good try because the market is way down today.

You should list the 1 year chart instead of 3 months

the market is past bitcoin and wants at good blockchain related alts but cannot get there with bitcoin in the way, out of the ashes of this reconfiguring bitcoin will be grouped in with other crypto payment currencies and good alts will be freed, insane valuations on the horizon

Okay you dumb fucking newcoin niggers who clearly havent done your research. Let me just try to break something down for you real quick. You live in a fucking first world echo chamber. You are a spoiled rotten little piece of shit. Where youre from, there are banks on every street corner. The value of the distributed ledger hasnt changed. You never fucking understood the value, because youre an ignorant little titsucking millenial dipshit. I'm going to let you in on a little secret you smart ass little shit. The value of bitcoin has nothing to do with it being the next visa. It has to do with it being the next western union you ignorant fucking plebian. It will completely eliminate the existence of remittance fees you fucking peasant. Go google remittance fees. Its a $400 BILLION WITH A FUCKING B market. Thats right numskull. Bigger than all of crypto right now. Jose sending his grandma money. THAT WILL BE FUCKING BITCOIN. You want to talk about the value of the distributed ledger? You have no FUCKING clus. All those people in central america, asia, fucking africa, who have no access to banks? They will be able to store their fucking wealth at a mathematically secure bitcoin address. Poor people will build wealth they never even fucking dreamed of. Crypto will revolutionize the entire world. Open your tiny little mind for two seconds you chump. You spoiled fucking peasant. You have no business putting money in this market. Give me all your coins.

Right, massive liabilities like real estate leases, employee payrolls, utility bills, taxes, etc, etc, etc.

Coins will never go bankrupt like millions of companies have. Because they don't have all of that shit.

I'm gonna tell you guys the gods honest truth right now. If you dont hold your coins until the day you see jose the dishwasher looking at his blockfolio, you sold too fucking early. We havent even FUCKING BEGUN.

...

looks like its almost done though? It's not gonna go below the price to mine

This 1000%. I haven't gotten shilled on a hot new ICO by anyone in my family yet, or anyone from work for that matter.

Damn thats what I'm talking about, best post on here today. +1 We need a bizcoin and a tip function.

Check'd

>tfw bought $20 worth of bitcoin every month since 2014

I dont even care what the price is I just like to collect these boys

When you see services like BitAfrica or BitHaiti or BitGuatemala where people can exchange their coins to any developing nations currency. Then our power level will truly be over 9000

I think you guys really need to read this white paper. This is the future!

Loads of people know about crypto
Hardly any of them are invested though

Here is a possibility of what's gonna happen.
We break this support at 8.4k (on GDAX)
we are fucked

It holds? We should see some rallying upward

Don't you see it's pure market manipulation? They're kicking out weak hands, nothing more