Bitcoin crash is here! Bitcoin and other cryptocurrencies have seen a major price correction starting on December 21 and continuing into December 22, 2017.
Bitcoin lost almost 40% of its value and was seen south of $13,000.
Ethereum is back in the six hundreds.
This shall pass.
This author wishes he saw this Bitcoin crash coming, because I would have sold my major position at the top of December 21 and then bought in at lower prices. I did sell some Ripple into Ether to fund an increase in my XVG position, but today everything is markedly lower. In retrospect, if I had a crystal ball I would have sold it all to USD and waited until I saw the lowest of the low.
C’est la Vie
What we do know is that the co-founder of Bitcoin.com made an announcement that he was selling off all of his Bitcoin holdings into Bitcoin Cash, because he had come to the conclusion that Bitcoin was useless as a micropayment currency, and that he was upset with the Bitcoin stalwarts who want Bitcoin to be like Gold, a store of value, rather than a currency for micropayments.
There are some pretty strong allegations by some seven figure people that this is NO CORRECTION, and instead was caused by that Coinbase insider trading related to their implementation of Bitcoin Cash.
Could it be??
Then you have all of the recent skeptics’ FUD which is broadcast by the yellow journalists and clickbait spinners in the media, and perhaps all of this turned into the perfect storm that resulted in a massive selloff and a Bitcoin Crash.
Then again, maybe it’s just another of the many corrections that we have seen along the way. (but it’s still a Bitcoin Crash) – and the rumors about Bitcoin Cash persist.
The bottom line here is that if you are a hodler [sic] of crypto then you only lose if you sell while there is blood int eh streets.
If you have the side capital to invest, I envy you.
Bitcoin and Crypto are on SALE! The Bitcoin Crash is like a Bitcoin Fire Sale!
Get them while they’re HOT (or not, as in not wanted by enough people)
Silly panic sellers.
They are the real losers here.
Coinbase went down amid the frenzy.
I am not sure if any other exchanges came down.
I think all of this will come back, but I have no idea how long it will take for Bitcoin, Ether, and the others to regain lost ground and continue up.
Bummer, because Ether/Ethereum is supposed to march up towards $1500.
It could be that the whole thing is overbought.
Market manipulation by whales and now Wall Street futures traders?
I say a perfect storm and then mix in FUD and panic selling which caused the Bitcoin Crash.
I guess if it’s something more profound it will be talked about in the coming days.
Just remember, if you panic sell low, then your loss is your own fault.