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I would call it more of a "market correction" than a "collapse."
by eddz 9y ago
I would call it more of a "market correction" than a "collapse."
- viach 9y agoIndeed, I wouldn't call a change 15K -> 13K a collapse.
- mschuster91 9y agoThere are a bunch of coins that lost over 20% in 24h, and the 7d-situation looks even worse with even huge coins like Ripple taking a 45% drop in value.
- sidhuko 9y ago48 now. Ripple's being hit hard.
- Cthulhu_ 9y agoRipple was way overvalued, it was intended to be about $1.
- lawlessone 9y agoThe creators have also pretty much premined or own all the "coin". They even warned people on the Ripple website not to speculate on it.
- nopriorarrests 9y agoaccording to reuters, "Bitcoin extends slide to trade down 18 percent on day at $11,191 on Bitstamp Exchange, on track for biggest one-day fall in three years" - so, pretty significant move.
- lawlessone 9y agoit was 1K at the start of last year so yeah this years bubble will probably burst.
- pygy_ 9y agoI'm suspicious of growth curves that are still supra-linear when plotted in log scale...
- mr_toad 9y agoBelow 11.5k now and picking up speed.
- tom_mellior 9y agoPicking up speed... upwards? At the moment you posted it turned around, and 31 minutes later it's at 11.9k. Trying to read this short-term things is uninformative. Oh, in the time I typed the sentence above it went from 11.94k to 11.99k.
- BozeWolf 9y agoThis is crypto logic. In 'real' stocks this will be called a collapse for today or at least an extremely wild ride. I wonder how much technical analysis can be done to predict this. Just HODL!
- ric2b 9y ago> This is crypto logic. In 'real' stocks this will be called a collapse for today or at least an extremely wild ride. It is a wild ride. The reason this is a correction and not a collapse can be easily understood if you zoom out your charts enough so that you can see the ancient times of November 2017.
- dx034 9y agoIt's just a matter of volatility. If a stock drops by 15-20% once a month, a correction is not called a collapse. If it never moves more than 2-3% per day, a 15% drop causes panic. BTC is by far the most volatile asset at the moment (excluding other crypto currencies and some exotic real currencies). I think the reason people talk about crashes so quickly is that no one has a clue what's going on. Is it a broad-based move? Is it a few speculators? Is it a conspiracy? For stocks, at least the regulator knows very quickly who sold and if there's something fishy going on. For BTC, no one knows which makes it more confusing.