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I've been trading Bitcoin for several years and have gone through the various booms and busts of that time. I'm not sure I'm ready to call this a crash when it'
by patwolf 5y ago
I've been trading Bitcoin for several years and have gone through the various booms and busts of that time. I'm not sure I'm ready to call this a crash when it's back to where it was a few months ago.
The idea of Bitcoin and other cryptocurrencies is addictive, but there's always the sobering moment when you realize how limiting it is. I tried to transfer some a few months ago and was hit with $25 in transaction fees, and it took over 3 days to be confirmed. Clearly I should have used higher fees to expedite it, but I sympathize with newer investors experiencing that for the first time. I've also seen folks recently invest in mining rigs only to realize they're not as profitable as they anticipated.
I'm sure in time prices will back up as the cycle will repeat itself--the hype will die down, Musk will tweet something that inspires the next generation to jump on the bandwagon, and the price will rise again. Maybe we'll lament not buying while it was under 100k.
- endisneigh 5y agohow is 20% down not a crash?
- matheusmoreira 5y agoIt's a crash on a traditional market such as stocks. On the cryptocurrency market, a real crash would result in figures in the -90% range.