Hard to say. These dips don’t seem to be happening for any reason which is scary, it means bots pretty much control the price, or huge whales (rich fucks, banks, funds etc)
Every other dip had an actual reason. Mt God, ICO ban on US, China regulation and the first BCH forks. They all led to pretty hard dumps which people thought would never recover from. These dips just happen for no reason really?
compare to the dotcom era. the phenomena don't exactly match, but they rhyme. 19-25 year olds using web-brokers ran up the dotcom market. the old folks pretended to understand and threw money at every IPO with a website. sound familiar? one or two of the pack will be big winners, and then another one or two from the inevitable "crypto 2.0" revamp will succeed. some of the tech is solid and will eventually prevail, but it will be on a longer timeline than you would want as traders. the rest will collapse, and there will be a show trial or two as official washington catches up.
dunno about other boards (especially /b/), but alt+255 only functions as a space on Veeky Forums no idea if there's any way around this
anyway, as someone who has been around since august of last year, the only thing that came close was the china FUD of september—and that was nothing compared to this shit that was an acute crash that created a nice opportunity to get into a lot of chinese coins—this is a chronic series of acute declines uuugh it's fucking slow if you're like me and you didn't sell 90% of your shit on the way down, it's just a waiting game october to november was a nice slight incline, with a lot of opportunities to 2x your money unless you have money aside, this is just shit
The real reason does seem hard to pinpoint. Seems like there are new hypotheses every week.
The runup in November-December went too quick, so there was bound to be a correction, but I thought or hoped it might stabilize sooner.
I wonder if the people getting out now are mostly long time holders who are walking away with profits, or the same people who got in in November and December and who are now running away before losing any more. We'd think the people who have been in a while would be the ones cashing out, and some probably did, but since a lot of them also appear to be "true-believers" who might have also thought the market would pick up again quicker, I don't know.
>I know people say that things were shit for a while last summer after the China FUD, but was it worse or better than this?
Infinitely better than the state of the market now.
I've been around since early 2013, so I've seen two of the last bear markets.
This time there is less sentiment that BTC or crypto is going to permanently die. More narratives revolve around "flippenings".
Maybe, but as says, it does have parallel to the doctom era. It might not be possible to throw money at anything that adds "blockchain" to what they're doing and double your money, but at least some should survive. That was my logic in consolidating into two of the big platform coins a month and a half ago, but that didn't really pay off.
Thanks, it did seem that way. But the market also hadn't gone on a huge bullrun right before then as far as I can see, that might have been part of what made it better.
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>Mt God kek
In all seriousness, if you've been following this shit closely you'll notice this is STILL mt gox. And we'll keep getting gox'd by whales until something finally flips Bitcoin. Fucking centralized POS ruining all of crypto.
Don't give me those nigger tears, we'll recover by summer
>tfw when alt+255 doesn't work anymore
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∆ ∆∆ wew
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wasn't hard guys heh
∆ ∆ ∆ lol
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Finally an actual fucking answer. Thank you
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It does look like there are strong candidates to take BTC's place, and the delays and fees problems that were happening in December probably didn't help its case. The last few months are also the first time (I think?) that it's relative market share is that low.
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is looking more like gox than anything else at this point, we might have reached the stage where something actually has to deliver
You got it, looks like it takes a character before now or else monster eats space.
▲ ▲ ▲ its not hard to do lol
its going to keep going down until people stop expecting it to go back up
then we rise, but no sooner than until that condition is met.
heh MEANT TO DO IT
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this was the last cycle...took about 2 years. The game is different now:
>mining is all asic now/ >altcoins are now taken seriously/ forks exist / >cryptotwitter exists/ >not sure what biz was like back in 2013-15 but I bet there weren't a bunch of shills trying to influence markets as much/ > social media groups massively shilling
I was there for the 2014 crash and every one was freaking out. Just lay back and let the wojack rage wash over you, then wake up again next summer and we'll see where we're at.
>unless you have money aside, this is just shit I agree with that; I put more money in yesterday, because I thought the market was finally stabilizing... bad call. I'm definitely waiting a lot more before putting anything else in.
I noticed this as well. I don't think anyone ever expected a flippening to come from a bear market rather than a bull, but I'm beginning to think it's a more likely scenario.
In my personal opinion, general sentiment seems to be very gradually turning against BTC and toward ETH and other alts. It makes me think that the big alts (despite increasing BTC dominance for now) could actually bottom out before BTC and then bounce back in a way which continues to chip at BTC dominance at a faster rate across the long term. We might be witnessing the gradual death of BTC maximalism.
However I don't expect any of this to happen even remotely soon. I'd be surprised if this scenario was completed within 2 years, so we might have a lot of bleed cycles before then.
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>a month and a half ago
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Yep, decided to ride it out in what I thought would survive this dip instead of tethering, and with a few small trades I was still only 30%-35% down until a few days ago, but today I'm getting fucked.
Crypto has defied every prediction. What makes you think you know shit.
It was a name you saw occasionally, but most people never got past the usual "oh internet monopoly money" and forgetting from never seeing the word again for months. The first thing I ever heard of that accepted Bitcoin was Veeky Forums passes, though I wasn't into silk road or anything like that.
The only reason is the MtGox trustee dumping and panic selling
I’m a slight oldfag and I love this attitude. Just like when I started. Thanks user
I remember in 2011 or so, there was a game called Vidiot Game. I downloaded it because one of the guys who worked on Barkley Shut Up and Jam Gaiden made it. Bitcoin shows up in the game a bunch, and some of the endings are you becoming a bitcoin millionaire. Wish I looked into it more.
Same. Been here for over a decade and was too skeptical to take it seriously until recently. At least I didn't buy in yet. Do still think most of us here are way ahead of the population though.