Seeing the prices of crypto drop this much is super depressing.
Not going to lie. Bitcoin is looking to end up dumping even more in the coming days and I am preparing to see prices drop super ultra low soon...
With all of the talk about taxes and crypto its looking like I will be nearly cleaned out of all of my crypto and still potentially owe more money on top of that. I was never expecting a scenario where taxes would be more than 100% of my earnings. I wasn't expecting this to play out this way. from what I can tell if we see another strong dip to 6k and it doesn't recover by April. I will probably have to lose my dolphin status here. Its very possible I will have to sell everything and I will still be in debt.
To say this is a kick in the nuts is beyond an understatement.
A lot of the Chinese cash out around their new year. Hopefully it will rise again and we can get back on the wagon.
When boitcoin first dropped early this yera, it might have seemed a one-off, but that again it is dropping, is a strong indicator not to be ignored, or just swept under the carpet with bombastic self-soothing declarations adamant that it will l rise again.
The honest truth is that daily, resistance to cryptocurrency increases, and we have to leave with the reality that under ideal conditions, the level of bitocin surge, was alsways and will always be threat to the world financial systems and statusquo, both political and economic, and for that, there is always going to be interventional actions by those threatened, to curtail its surge.
truth to say, i share the same optimism that it will rise, but truth to ask, will it achieve the double figures of old? Upon what evidence can we still hope that it will reach 50s and 60k's?
Either way, i agree that it will rise, but how high, i am reserved, and actually think that it may take us up to the second half of this yrear, for bitcoin to stabilize in the lower double figures of between 10-14k.
Hopefully if it does crash it doesn't stay down too long. Still have a few months to go before any big deadlines, right? Try some day trading, hehe.
The fall of crypto is just the system trying to stabilize itself out. The world is still getting use to it and really don't know how to deal with it. Once it gains ground, it will be in full swing. This is to big to fail, the only way is up. Expect ups and downs, just hold on and ride it out.
Keep the faith!
It would not have dropped like this if not for all the FOMO idiots pushing the price parabolic :)
This is just the system correcting like it has done multiple times in BTCs past. It has had 70%+ drops a few times already but everyone forgets this
I believe dropping of crypto price will be coming to an end soon. It will rise again my dream
looks to me like the big guys are exiting.
Hope not, but if it does drop what is for you the minimum we gonna reach ? Because since we got under 8k there will be a lot of resistance around 7k and 6k
Market manipulation right now indicates we are going to see 6k easily. If I get to keep any of my crypto after this it will be a fucking miracle...
Sorry for you. I hope you survive the crash. I thought of it as a bull trap the entire time. I mean look at the chart on a long term basis. The gains in the last 2 weeks were outrageous. BTC nearly doubled within 2 weeks. If we assume the big drop from 20k to 6k as a bubble that popped we should see way more losses to like 1000$ or something. But it didnt it virtually doubled. This is not reasonable behaviour on a market if you ask me.