Oldfags: how does this dip compare to the previous ones

JunkTop
JunkTop

How does the bear market we've been experiencing since mid January compares to the previous dips?

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?

I also know it took two years after Mt.GOX for things to pick up again, but were people constantly getting justed during those two years, or were things mostly simply dead?

The general overview of the charts make it hard to judge what it was really like.

Also:


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Nojokur
Nojokur


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Fuck.

Booteefool
Booteefool

it compares but not comparably

Fried_Sushi
Fried_Sushi

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?

askme
askme

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.

Bidwell
Bidwell


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JunkTop
JunkTop

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

Inmate
Inmate


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Flameblow
Flameblow

too hard op


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Supergrass
Supergrass


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Dreamworx
Dreamworx


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Sir_Gallonhead
Sir_Gallonhead

tfw asian moot broke triforcing

cum2soon
cum2soon


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Bidwell
Bidwell

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.

lostmypassword
lostmypassword

How does this dip compare to previous ones

It doesn't. It's literally over.

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TreeEater
TreeEater

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.

WebTool
WebTool

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".

BinaryMan
BinaryMan

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.

JunkTop
JunkTop


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Illusionz
Illusionz


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Stark_Naked
Stark_Naked

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.

Garbage Can Lid
Garbage Can Lid

Don't give me those nigger tears, we'll recover by summer

Soft_member
Soft_member

tfw when alt+255 doesn't work anymore

w8t4u
w8t4u


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askme
askme


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DeathDog
DeathDog


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wew

PurpleCharger
PurpleCharger


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wasn't hard guys heh

whereismyname
whereismyname


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Fried_Sushi
Fried_Sushi


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lol

Crazy_Nice
Crazy_Nice


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King_Martha
King_Martha

Finally an actual fucking answer. Thank you

kizzmybutt
kizzmybutt


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RumChicken
RumChicken

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ZeroReborn
ZeroReborn

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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Stupidasole
Stupidasole

is looking more like gox than anything else at this point, we might have reached the stage where something actually has to deliver

Nojokur
Nojokur

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Lunatick
Lunatick

You got it, looks like it takes a character before now or else monster eats space.

King_Martha
King_Martha


▲ ▲ its not hard to do lol

happy_sad
happy_sad

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.

askme
askme

heh MEANT TO DO IT

iluvmen
iluvmen

.

RumChicken
RumChicken


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StonedTime
StonedTime


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Nojokur
Nojokur


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Illusionz
Illusionz

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

you be the judge

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haveahappyday
haveahappyday

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This dip isn't really that bad

Evilember
Evilember


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SniperGod
SniperGod

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CouchChiller
CouchChiller

Does the old way still work?


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TechHater
TechHater

You can't say it's not that bad, BTC and ETH lost over 50%, a lot of alts lost over -80%, and it's continuing to go down. You can not care about it, but it's still a big dip.

Illusionz
Illusionz

Looks like the oldfag way is broken.

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Dreamworx
Dreamworx

need a triforce ASCII wojak asap

Raving_Cute
Raving_Cute

yeah it does dude, see this shit hoooooly shit this is so good motherfucker, yeah, you'd better see this.

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takes2long
takes2long

the absolute state of this fucking board
/b/

massdebater
massdebater


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Snarelure
Snarelure

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eGremlin
eGremlin

▲ ▲ ▲ fuck it

PurpleCharger
PurpleCharger

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Crazy_Nice
Crazy_Nice

Honestly, this dip feels about the same.

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.

happy_sad
happy_sad

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.

RumChicken
RumChicken

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Nojokur
Nojokur

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SomethingNew
SomethingNew

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Deadlyinx
Deadlyinx

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Stupidasole
Stupidasole

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.

Soft_member
Soft_member

jewforce supreme

PackManBrainlure
PackManBrainlure


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CouchChiller
CouchChiller


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BunnyJinx
BunnyJinx

a month and a half ago

lol

Nojokur
Nojokur

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Inmate
Inmate

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.

eGremlin
eGremlin

Crypto has defied every prediction. What makes you think you know shit.

StrangeWizard
StrangeWizard

Windows: [alt-255] [alt-255] [alt-30] [enter] [alt 30] [alt 255] [alt 30]

Nude_Bikergirl
Nude_Bikergirl

just hold on a little longer. we'll make it.

BinaryMan
BinaryMan


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Nude_Bikergirl
Nude_Bikergirl


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Sir_Gallonhead
Sir_Gallonhead

I miss the old Veeky Forums

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WebTool
WebTool

This dip ain't shit

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LuckyDusty
LuckyDusty

pls

Dreamworx
Dreamworx

That chart ended on January 16th user, and it's not just BTC.

BinaryMan
BinaryMan


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GoogleCat
GoogleCat

i held eth through the dip last year and it felt pretty fucking terrible which is how i feel now so that must be a good sign.

viagrandad
viagrandad

I part my first $1000+ deposit into GDAX in on Feb 5th, rightr at the bottom. I'm convinced that was the bottom and I still am. I've put $3k in since then and am onna put another $5k in this month.

Fuck it all. Crypto or death.

Playboyize
Playboyize


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Need_TLC
Need_TLC

so basically 211 days til the next ath

Methnerd
Methnerd

wait


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SniperWish
SniperWish

Needs an update.

Nude_Bikergirl
Nude_Bikergirl

watch this


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PackManBrainlure
PackManBrainlure

it will never be 2009 again when triforcing was still a meme and 10 million btc could be had for $1

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Firespawn
Firespawn

I was on /b in 2010 but either ignored BTC or didn't see it. Was it spammed consistently?

StrangeWizard
StrangeWizard

lel no, it was literally “that weird stuff those dark web guys are into”

viagrandad
viagrandad


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Deadlyinx
Deadlyinx

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.

BinaryMan
BinaryMan

everyone is a fucking newfag now

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GoogleCat
GoogleCat


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The only reason is the MtGox trustee dumping and panic selling

Sir_Gallonhead
Sir_Gallonhead


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Boy_vs_Girl
Boy_vs_Girl

I’m a slight oldfag and I love this attitude. Just like when I started. Thanks user

Emberburn
Emberburn

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.

LuckyDusty
LuckyDusty


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viagrandad
viagrandad

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.

takes2long
takes2long

It had endless threads on /g/ in 2011 during the first bubble. Except most people mined them and called them buttcoins constantly, I was too dumb to buy them at the time, saw it was in a bubble, and didn't. Then I laughed once it popped finally.

GoogleCat
GoogleCat

In my opinion, every normie has heard of bitcoin now, the large majority haven't bought yet. Maybe 1/3 people who have heard of bitcoin know of ETH/XRP/LTC. Then a fraction of that are into alts. But no, not many people have bought yet.

Fried_Sushi
Fried_Sushi


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Carnalpleasure
Carnalpleasure

I am braced for 12+ months of bear market, I am still up 10x but lost a lot from ATH.

Decebtralized exchanges with fiat pairs are coming this year. Binance is going to dex. Circle(backed by Goldman Sachs) recently acquired Poloniex, so you can be with Circle and have access to fiat pairs for btc/eth and access the exchange from the account. Circle is fully compliant with legislation, is promising fast cash in/cash out(friend said KYC took just a few minutes) and circle is in talks to have liquidity with alipay, PayPal, etc.

So overall I feel prettt bullish. As they meme, the institutional money has not come yet. 2% of the derivatives market for crypto would be huge($1.4qt in derivatives alone).

Going forward, dunno what will happen with ETH/BTC, but keep on eye on security coins, oracles, smart contracts and the emerging idea of "cryptocommodities"

viagrandad
viagrandad

I’m not an old fag but I got in when Ethereum popped. Lived through the hard fork and China FUD.

This correction is way worse. Until we know what’s going to happen with the remaining 1.6b, I don’t think we’ll go on another bull run. So that’s another 6 months atleast.

It sucks. I wish I sold in Jan when my parents told me too. I was too greedy

Lunatick
Lunatick

Tfw no alt key on android

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hairygrape
hairygrape

newfags cant triforce meme still works

fucking newfags

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GoogleCat
GoogleCat

.

Methnerd
Methnerd

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LuckyDusty
LuckyDusty

t
t

Spazyfool
Spazyfool

&nbsp t
  t

RavySnake
RavySnake

This. We've never had it this bad without some kind of reason.

Gigastrength
Gigastrength

All things consodered a "big dip" is usually 95%+. Like go look at Minereum. 80% or less really isn't that bad.

Stupidasole
Stupidasole

중국발 FUD입니다.
후오비와 커피 한잔의 미팅이 있었습니다. 3월 15일(미국) 중대한 발표가 중국 인민 은행에서 있을 예정입니다.
3월 15일 중국 인민 은행의 서류가 발표될 예정이며 어쩌면 대형 이벤트일 수도 있으니, 비트코인포함 많은 코인들이 위험할 수 있습니다. 이 서류에는 중국 채굴장의 전면 금지를 성명하고 있다고 합니다.
후오비 CEO와 COO는 더이상 중국에서 출국이 불가능하게 조치가 내려질 예정이며 베이징에 거주하고 있는 400여명의 후오비 직원들의 대부분은 이번 주말 싱가포르로 이동할 예정입니다.
아직 오피셜한 발표는 없었으나 곧 확산될 중국발 FUD를 살펴보시길 바랍니다.
#FUD #중국

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Illusionz
Illusionz

Dats cheating!

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Fucking gayphone

VisualMaster
VisualMaster

j-jeww-s-t

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eGremlin
eGremlin

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Emberburn
Emberburn


∆ ∆

askme
askme

It's exactly the same as last summer, just on a bigger scale time/volume wise because of all the normies that flooded in. I'm not really worried, but I think the markets going to be stagnant for a month or two before recovery.

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