What exactly is causing this crash?

People actual believe the media
>/thread

this
Banks are going to buy crypto in 2018 like its the new pussy. They want your money back

It was all speculation and a bubble. It's worth was all in the ability of people believing in it. Lloyd's of London dropped support for paying credit cards with BTC and other crypto currencies along with it's other family of banks and there you go, now general public panics.

Basically if you have a currency that relies on faith that it's accepted as a form a payment, and a big institution decides it's not acceptable you get this. That's why crypto was always a big risk, it's all faith no substance. At least the dollar is backed by being the Petro-Dollar.

It means that an entire sector is now blocked out, which breaks the trade market.

people use crypto as a store of value rather than as a currency- which is pretty telling of how useless crypto is as an actual currency

since it's a store of value it's worth is tied directly to the regular ol' market which is taking a great big ol' shit right now.

It's this honestly this is coordinated.

>What exactly is causing this crash?

Bond markets. End of cheap money for gambling on stocks and shit like bitcoin.

do you know what speculation is?
damn some people here are really ignorant

tether made the crash by selling bags of btc for usdt

bubble was created when crypto exchanges went mainstream with flood of new buyers all thinking they would get rich, all thinking the market would grow at greater pace than they were buying at.

at the same time, governments around the world began regulating or considering regulating crypto, which scared a lot of investors.

it was ok for the first few weeks until crypto prices all reached crazy levels, then the more experienced investors who recognized the unsustainability started selling off. that, plus more news and talk of regulation started hitting investors with reality and it created a domino effect that went from experienced investors selling all the way down to late investors panic selling, causing this crash/correction.

Real talk tho do you guys think this is the end of big gains? even if the recovery takes months will we ever see the t ype of bull market of the past two years?

People selling, duh.

Everything mentioned above

Plus fucking tether

>Be Tether
>Publicly announce how you cant accept any international wire transfers
>Anyway magically have 3billion new tethers "bought"

Be Audit company for Tether
>Can we see to support your claims
>"No, too much work fuck off"

lel

normie money who panic sold at the first -20% dip.

falling rate of profit

RISK AVERSION
IE. SEE VIX (XIV)
All risky assets are being sold now, money is moving to safe havens.

>created a domino effect that went from experienced investors selling all the way down to late investors panic selling, causing this crash/correction.

forgot to add one major factor: crypto also hit the point where mining got way too expensive, making it vulnerable to this domino effect. once crypto price started crashing, miners stopped mining and started selling their gear, adding to the decline in market growth and domino effect.

big guys see that sell make them millionaire and sold.
little guys bought because know shit about money.
Simple

no this is just the beginning

Facebook banned crypto ads too. Why do normie governments and corps pretend to hate crypto when they’re all secretly investing billions in their own coins?

>thinking that fucking normies with 100$ capital can make that btc pump
>thinking that market crashed coz of fud and normies selling btc
>being that retarted

Huge holders start a sell-off and apply some sell pressure to keep it rolling, weak hands panic and the price crashes down.

Every time it bounces big holders short the shit out of it and push it back down.

Big holders accumulate at the bottom when people are saying it's dead, over, going sub-1k.

Then they run it up and repeat the cycle.

>exchanges

It's not the end of big gains. Using Blockchain tech for something actually useful has yet to be realised and projects that do use it well and survive this market still stand to make huge gains if they achieve wider adoption.

I honestly want this to be the end of Bitcoin though. I'm tired of having the entire market pegged on it.

> economy tanking
> normies no longer have the funds for frivolous spending
> whales cashing out while they can
> need to drive the price lower to find buyers
> minor factors like wassswassuwassuwassup adding to the fud

The petrodollar is not what you think it is, time to go read faggot

Go read what? No economic textbook will openly say that the US invades and destroys countries that try to dump the petrodollar yet everyone knows it's true

Jews.

>No economic textbook will openly say that the US invades and destroys countries that try to dump the petrodollar yet everyone knows it's true

It's the currency used in the exchange of Oil by OPEC, which is currently the US dollar. Jesus your a Faggot.

Lloyd's banking group, not Lloyd's of London

>No economic textbook will openly say that the US invades and destroys countries that try to dump the petrodollar yet everyone knows it's true

you god damn piece of shit. Fuck off with your conspiracy theories, I bet you believe "muh Jews" are why you are not successful at life and hate black people because of your white fragility.

banks banning credit card purchases. 2017 was fueled by normies maxing out their visa on coinbase. now the banks realize they are the ones really holding the bags

bullshit they may make their own centralized version of it but they won't touch any crypto that is developed by freelancers and already premined.

not anymore chinks made sure of that.

WHAT AM I GONNA DO?

>China banning all access to crypto-related brokers / exchanges, both foreign and domestic
>India "taking all measures to eliminate" / banning all crypto
>English banks banning all crypto
>Ledger vulnerabilities
>Tether SEC Subpoena
>North Korea stealing billions in crypto from South Korea
>South Korea crypto banning kyc-less crypto trading and brokering
>Theresa May "seriously considering" banning cryptocurrency
>Largest dip in Dow Jones history, wiping out all of its 2018 gains
>In Australia alone, $63 Billion wiped off the market overnight
>Global knock-on effects, Hong-Kong down 4% (phenomenal dip)
>Banks in Japan and Europe announcing this week that they'll ban cryptocurrency purchases
>Major NZ bank forcibly closes Cryptopia (and other exchanges) bank accounts
>Former Federal Reserve chairman announces we're entering a "multiyear bear market"
>IRS begins collecting records from exchanges
>Facebook bans all crypto related advertisements
>Baidu, China's largest search engine, has ceased displaying cryptocurrency ads
>So has Weibo, their largest social media platform
>Russia announces they're blocking crypto exchanges
>Russian finance ministry announces crypto currencies will be regulated like securities
>Vietnam banned cryptocurrency payments, enforcing the ban with harsh prison sentences
>US CFTC declares crypto currency a comodity, requiring IRS to track everything
>Germany calls for cryptocurrency regulation
>France calls for harsher restrictions on cryptocurrency

What else could you possibly need for the beginning of the year; which coincides with BTC's natural dips anyway? It's gonna be a rough few months followed by getting back-on-track. It's healthy.

KEK fucking normans

Becausr we've just reached stage 3

google.com/newsstand/s/CBIwq7Pv0Dc

The same reason stocks are crashing
Recession

Have you noticed what happened today?
Normies are terrified about the market.
We found the crypto bottom. Already up 15%