Down 32% from 12/21/17 to 12/22/17? WHAT HAPPENED?


#1

Just curious as to what has happened to make such a large decline happen! Made me take a big L. Haha I have also noticed almost every other crypto was dropping fairly dramatically too… any idea?


#2

My guess is the whole market is way overbought. Also there’s a lot of new entrants and most of these people were buying for the easy money. Easy money stopped coming and people panicked.

Of course I base this on nothing.

My other theory based on nothing is that there’s insider trading going on but it’s going the other way. Insiders getting out. Key suspects for me are Bitfinex, or Coinbase in trouble. Maybe further China crackdowns?


#3

I’d believe the china crackdowns and easy money theories. Which is a shame, because there are alot of good currencies being ruined by the new people who panic sell after losing $0.002. :roll_eyes: I use YoBit primarily to exchange and use Gdax to buy in with my USD. I also have been seeing alot of Pump N’ Dumps happening with the smaller coins. Which is annoying and only hurts the market, plus is illegal in stock trading. Here’s to hoping the recovery is quick!


#4

China’s suppression is for capital control, anti money laundering. In fact, China doesn’t care about bitcoin, nor does it declare bitcoin illegal, but rather prevents bitcoin’s cross-border transactions. ETC team is good at it, PR is working harder.


#5

This is normal in our crypto world. A very good lesson for those newbies opened their accounts in the recent months.


#6

Oh yeah I’m use to major falls, but over 30% in less than a day was pretty major! Just was curious as to what caused that in not just one or two, but almost ALL cryptos! Haha


#7

To be honest this was probably due to most of the people who “bought the news” of ETC being added to Coinbase. They got in because they thought the price would grow exponentially, once on Coinbase. This is just my theory. I noticed a big rally after that article came out. Not sure who’s lying or if its even a lie - could be true but time will tell. :smiley:


#8

I’m slightly hoping it’s true because if it did, it’d most likely triple and I’d make a small fortune. Haha but then all the new people will ruin what I consider a great community so in the same breath, I hope it doesn’t happen.


#9

let’s hope . it will be great if we are added at coinbase …