Yes This Bitcoin Crash Was Scary, But Have A Little Perspective
Yes, this latest crash in the cryptocurrency markets was scary, in fact it was down right terrifying!
However, not only was it not the worst these markets have ever seen, but it actually looks quite normal when looking at some of the other price corrections over the years.
I am sure we have all seen the January effect in regards to Bitcoin and other cryptocurrencies.
Basically it shows how bitcoin and others tend to be weak in the middle and end of January, only to rebound quite strongly over the next couple months and go on to make new highs afterwards.
While that is mostly true, I stumbled upon another chart that I think is just as applicable.
I stumbled upon a compilation of some of the worst drops seen in bitcoin since 2012 and was pleasantly surprised by what I saw.
As you can see there have been numerous sharp drops in bitcoin over the last 5 years.
Some of the them steeper and some of the faster than what we currently witnessed.
The only thing they all had in common was that prices went on to make new highs afterwards.
Just remember, just because it happened the last 11 times doesn't guarantee that it will happen again, but it is a decent trend to pay attention to.
Especially when we can see that this most recent drop wasn't really anything bigger or faster than other crashes we have seen in the past 5 years.
The only difference this time was that it happened from a higher level and there are a lot more people paying attention to it now.
Other than that, to me, business as usual.
LOl Thanks for sharing I needed a good laugh.
If you have invested in the right coin which have a good use case, every dip is an opportunity and even if it dips further you have the satisfaction that it will rise.
Yes this is true. It must be frustrating thinling you've bought at lowest and then it keeps falling
Really positive news this is. Glad I have been HODLing so far.
Yh it is positive news
I don't believe the worst is over.... enjoy the correction while it last. With Tether creating over 2.3 billion coins in about 1.5 years since inception, and continuing to ignored the subpoena ... it is a major dark horse. By no chance it has 2.3 billion in USD in the bank account. If Tether is proven to be a scam.... Bitfinix will likely fall with it. Possible another Mount Gox situation.... I will be smiling from ear to ear picking up shares like Warren Buffet would.
Yeah I think that dark shadow is what keeps a lot of us traders up at night. And if you just have everything in secured wallets then it's way more of a hassle to make any good on all these dips and climbs relative to fiat, which is also disappointing.
Oh, I hears this kind of positive news after a long time about bitcoin. Hopefully all this positive vibes will pull bitcoin some good label, at least $10,000+. Id it crosses 10k mark it will automatically help investor to regain faith in investment. Nice Info. Upvated.
Nice post. Puts things in perspective.
It would be interesting to post the recovery durations as well. How long did each crash take to recover to the top?
thank you sharing this information because it is really mandatory for everyone and I am new here hope you will support me by your great guidance
https://steemit.com/bitcoin/@jakob2450/all-the-cryptocurrency-terms-you-need-to-know
this is the longest and one of the lowest corrections ever, if seen as total value drop
Glad news that was
Thank you for posting this. It is so important to focus on the both the short-term snippets and the long term, zoom-out views.
LOL, just imagine all the guys who sold at $3.80.