Please help a confused brainlet understand what kicked this crash off

Please help a confused brainlet understand what kicked this crash off

People realized that crypto is a ponzi

Who gives a fuck, learn to read a chart, going down, sell, going up, buy.

normalfags
>haha im gonna get rich in a year!
>10% down? WTF is this SCAM??? I AM PUTTING ALL MY MONEY OUT!

manipulation

market manipulation as usual.

>tether
>india fud
>korea fud
>bitconnect exit scam

1. What he said 2. In late december, the real markets (via CBOE) finally started legitimate investors to short bitcoin.

3. alt coins are a risk play. When the stock market drops, being are less willing to throw money into high risk plays.

4. The crash has crushed all the people who dumped their life savings into coins. There are no new investors willing to lose money.

5. Bitcoin has no intrinsic value. It's really value in an open market (which we have as of december) is $100 or less

((()))

regulations, bans, tether worries, and the fact that we were going almost straight up for a couple months

Point 2 makes a lot of sense thank you

Any predictions on if this SEC hearing will be an encouragement or discouragement?

whales are accumulating

more trips of truth. I got them last time I posted but of course no replies.

Vapor ware technology + ran out of dumb money

This. Plus Facebook removed all crypto adverts because greedy pajeets and chinks utterly flooded them with scamcoin ads. As soon as that happened the whole thing went into free fall because apparently half the industry IS based on conning gullible normies.

You can't be this retarded

Too much normie money and hype blew up our nice little ponzi.
Should have saw it coming when news channels started showing soccer moms buying crypto for their kids savings fund in late november/early december.

Tether and ETF, as well as exchangers multiplying BTC due its store role.

7 months of bull-run frenzy and over-inflated prices.

this whole shit is nothing like a huge hype without a single useful technology coming out of it.

BITCONNEEEEEEEEEECT

user.. You don't know the Bogdanoffs?

Neither. They will probably talk about the technology of blockchain, and how it can be used in normal companies.

They will make no bet about bitcoin, etc, but they WILL talk about how the crazy price swings in all cryptos suggests that the markets need to be regulated.

So maybe a net negative.

>lease help a confused brainlet understand what kicked this crash off
Markets are a cycle. Learn that or get out.

normies getting fucked by xrp, trx, bitconnect

>bitcoin has no intrinsic value
Literal fucking newfag brainlet

Redpill me about these guys

Operation pump and dump started at the start of 2017 and it ended the crash of 2013

Bitcoins real value is the value it was right before the 1st day of 2017 which is what all the smart people will be buying back in at

they learned fluent french in a week

Better read a book on markets.

Bitcoin has no intrinsic value.

Really, nothing but weak FUD snowballing by weak cucks

nothing really happened, normies just pumped it up and when they saw a 10% drop they panic sold, that caused the price to drop a bit more, which caused even more normies to panic sell, repeat until today

I’ve read dozens of books on markets.

Block chain has intrinsic value

>((()))
imagine the parentheses are like pillows you've squished to either side of your head to prevent you from dealing with a complex world

Last bubble was 20x smaller than this one. That means the next one will be 20x larger, and it will come 20x sooner

>implying things happen because of reasons

It was a coordinated plan by the exchanges to close off new accounts for the entire month of January. No new money coming in = price move sideways. Combine this with the regular January dip. Normies getting out, institutions getting in. I believe the real game has yet to come

Yes, blockchain has value. But blockchain is not the same as bitcoin.

Blockchain is non-proprietary software, which means anyone can use it without paying anyone.

So while blockchain has value, and will be used more and more in the future, that doesn't mean that BITCOIN has to be used.

And, in fact, it won't, because it's much easier cheaper, and better for others do it on it's own.

Bitcoin has no intrinsic value because...

1. The market for it is low (people wanting to do black market purchase)

2. Legitimate consumers care more about convenience than secrecy.

3. Big banks can already do everything (of value) that bitcoin can with their existing system.

Yes, there will always be a small group of anti-government types who want off the books money, but that group isn't big enough to support bitcoin, especially since there aren't enough places you can use it for it to go mainstream.

Finally someone with half a brain

>Block chain has intrinsic value

this is like saying "cooking" has market value. it's not a commodity but a technological process and its only value is in its implementation. it's literal fucking code that you can copy and paste which has been done thousands of times already. bitcoin is PURELY speculative, there's nothing attached to it besides the power required to generate it. the real "value" of blockchain is in its implementations in the real world used by governments and corporations, e.g. transaction ledgers, which kind of contradicts the point of bitcoin