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Historically, as soon as bitcoin makes national press, it drops. Amateur investors jump on without the stomach for the hiccups, leading to the subsequent virtu
by billions 9y ago
Historically, as soon as bitcoin makes national press, it drops. Amateur investors jump on without the stomach for the hiccups, leading to the subsequent virtual "bank run"
- conistonwater 9y agoA bank run is a pretty specific thing (https://en.wikipedia.org/wiki/Bank_run https://en.wikipedia.org/wiki/Bank_run), you shouldn't use that term for any general situation where lots of people decide to sell something at the same time, or where a price of something drops precipitously.
- billions 9y agoFeel free to contribute a more accurate term
- matt4077 9y ago"illusion of patterns in randomness"
- jeremyt 9y agoPanic sell
- acover 9y agoPrice drop. Supply glut. Demand shortage. Investor flight. Fire sale.
- paulgb 9y agoBubble collapse
- rejschaap 9y agoFlash crash? Especially if it involves a lot of limit orders triggering, which is quite likely in the case of bitcoin.
- 1001101 9y agoStop running and shaking out the weak hands ;)
- dharma1 9y ago"correction"
- oscilloscope 9y agoThere often is a run on the exchanges, with people desperately trying to withdraw cash or cryptos before the exchange collapses. Often that's what pushes the price to the very top. On one or two exchanges there is a liquidity crisis, so people will bid up Bitcoin because that can be the fastest way to get money off the exchange.
- patrickaljord 9y agoHistorically, Bitcoin is still very young so not enough data to predict let alone the fact that predicting these kinds of things is by nature hard/impossible.
- uncletaco 9y agoFunnily enough between the time this article was posted and now BTC crashed from $1800 to $1700 and then bounced back up