Market drop

in #market7 years ago (edited)

So the market is taking a hugh dump with bitcoin dipping to the 8K area and this is the time to take a look at what is a actually going on.

The last couple of weeks was filled with fud after fud after fud and usually at a key resistance areas.

  1. First We have India - they have declared that crypto is ilegal! well not exactly - The goverment just announced that they will fight illegitimate use of crypto currencies but the media as the media like to do is running a ahead by saying that its ilegal.

  2. problems with USD Tether and their connection to bitfinex.

3 . South Korea is stricting their regulations against crypto and enforce some new rules for crypto currencies.

At times like and as long as bitcoin stays above 8k you should not look at the price but rather at the buying opportunities - everything is on sale right now and its time for shopping :)

The funny thing is that througout november and december 2017 the fud being spread about the lighting network being vaporware was high, the segwit transactions per second was stalling , we had very high fees for both bitcoin and ethereum, congestion, Yet the growth was insane!

Now things are a a little bit different - the tech is advancing - The lighting network has 400 nodes already over a thousnad channel opened - this will make bitcoin one of the most advance crypto currency, atleast for value transfer, unlimited transactions per second theoretically ! fees are down, confirmation times are faster. Japan is integrating more bitcoin payments. Korea has long terms positive regulations in place .

robin hood - the famous stock trading app has entered the world of crypto currencies and has over a milion users signed up to use the beta https://crypto.robinhood.com/

congestion is down

and so are prices

so you can see everything here is news related and very irrational . If you like you can take a look at some comforting viral tech analysis which will maybe make you look at things from a different perspective :)


its just another dinosaur formation, no need to worry!


just blur the highs in your charts and you actually mooning here no?

For a summery I would like to say the crypto currency market has made a massive and needed correction and most of it was because its needed to clean all the "dirt" from it as ponzies and scams like bitconnect which has fallen down recently. This will make room for more legitimate projects to bring in new strong hands into crypto and the inevitable growth of this amazing invention will continue.

Crypto maniac out

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I agree with you completely.

At times like and as long as bitcoin stays above 8k you should not look at the price but rather at the buying opportunities - everything is on sale right now and its time for shopping :)

This is exactly what I've been telling my friends and family. These corrections are necessary as we prepare for a new ATH. Cheers

I wish i had more fiat to buy buy bitcoin with i would be buying everything! lol

It's time to buy Bitcoin on 8-9K$)))
Dear oren730, make such content again)

Lol this is so funny

It is sad how many scams there are in crypto. It really is,

Stuff like this also doesn't really help boosting the image of crypto currencies. I can to some extent understand, why non-experts are rather sceptical about crypto without even knowing the backgrounds of it (most people don't even know there is more than just Bitcoin).
But I don't think the biased media coverage about the whole topic is fair, at all.
Government-controlled media is a bad thing, folks...

Facebook banning crypto advertising is bad for crypto. If there were not so many scams it never would have happened I don't thing since facebook said they banned advertising because of it,

nice dinosaurs formation
i have upvote on ur post. nice work mate..
please do upvote on my post please.

Well done. Best analysis I read in ages.

Great post dear it is..... yeah, it's quite sensible news and media should take proper responsibility for this kind of incident.

Anyhow thanks man for this awesome post....

The FUD is really much more pronounced now
Funny enough it's a perfect time to buy and HODL

That's good news. So with time the price of Btc will come back up and soonest, it's price will be higher than it has ever been.
Thanks for sharing @oren730

Finally a chart I could understand