Bitcoin Dives Below $12,000 - Analysts Say Could Spark "Market Contagion" in Cryptos

All 16 different cryptocurrencies I follow on my "Watchlist" are down right now. Bitcoin went below $12,000 (after being above $19,000 days ago)

Check the 7 day chart: www.worldcoinindex.com...

And a major founder of LTC (another top cryptocurrency) selling his Litecoin off a day or two ago: Founder of Bitcoin Rival Litecoin Sells His Cryptocurrency After 7,500% Rally

Analysts are saying this could cause "market contagion" and cryptos could crash.

I would not be surprised it TPTB were coordinating an attack now that institutional money has been moving in... Bitcoin has been a buzzword even on CNBC for that past 6 weeks or so. I find it hard to believe the bankers and big money movers have had a hard on for precious metals, smashing the prices down for decades but would allow the cryptos to go on unscathed for long.

Check out some of these articles:

Bitcoin sell-off could spark a market contagion, analyst warns

From today: Bitcoin plunges below $11,000 on Coinbase as rout accelerates; now down 40 percent from record

Possible that a lot of investment firms are moving out to do some book balancing for the end of the year. IIRC the end of the year is normally a dud for the stock market as well. Given the HUGE gains that some probably have it's better to take the gains then flounder for the next month.

Also, crypto's are HIGHLY volatile, much more so than stock market darlings like triple leveraged futures(hey, atleast I didn't use margin for those...). Anyway, panic selloffs happen, much more so with volatility.

Honestly, since everyone always seems to want it but it never happens(crypto crash). I'd be buying in if I could.

Bitcoin is not a currency (anymore, if ever), but an object to venturer. Its "value" is completely arbitrary, and can move freely up and down, as we have seen in the last weeks.

You don't need TPTB, just enough people wanting to join the circus (which was the bitcoin-bubble in the last weeks, but a bubble has more substance to it than the bitcoin).

Do not complain. If you did no sell, just wait. It will rise again. Or not. Who knows?

Because: WHY should the price for a bitcoin rise?

I picked up another 2k of BTC overnight when it passed 12k. Woke up this morning to see it at 11.5.. oh well, can't win them all.

That said, I find with Crypto it's like traveling through the mountains. Straight up in a week, then straight down. Long as the trends continues in the right direction I'm happy. Sell at the top of the hill, buy at the bottom, drink on the way back up.

~Winter

I recall seeing something the other day about North Korea using Bitcoin as a revenue generator that is immune to International sanctions.

I wonder if that has anything to do with the slide in value.

-dex

a reply to: DexterRiley

I recall seeing something the other day about North Korea using Bitcoin as a revenue generator that is immune to International sanctions.

Bingo. Thats why the Banksters hate bitcoin, its unregulated by them. It can't be used as leverage (Sanctions), which has everything to do with Hegemony in the Global Dominance Agenda.


Nyah-nyah, screw the NWO.

Bitcoin, or any crypto-currency, is not unlike any other fiat currency in that its value is based on demand. If no one wants it - it has no value. Bitcoin will be in demand at least until there is a better alternative in digital currency. More big money is starting to accept bitcoin and the market devoted specifically to bitcoin is growing. You can now buy a Lamborghini from a giant vending machine using bitcoin. I know that is not the best example of the validity of the currency, but it does demonstrate that various entities are investing in its future.

I see this correction as a buy opportunity and I am watching the prices and waiting...

I see it as a good thing.

Those with weak stomachs will get out.

BTC actually went down to $10,000.

I'm still in good shape.

Bought in @ $4k and $10k.

On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.

a reply to: FamCore

I heard one of the principle developers sold his stock in it’s entirety. I expected the value to decrease substantially and was wondering how far it would drop. I was thinking that was the best time to exit that market anyways. The first to leave usually makes the biggest profit. Now that it is down, i imagine some will see this as a time to start investing. Then the value will begin to increase again.

a reply to: FamCore

I've been saying all this month.

It's the Dump Before Christmas.

Of course there would be a selloff. People want to profit. And it's normal.

Next year we should see whales buying back in and raising the price again. If they aren't buying back in already since the price is down.

originally posted by: grey580
a reply to: FamCore

I've been saying all this month.

It's the Dump Before Christmas.

Of course there would be a selloff. People want to profit. And it's normal.

Next year we should see whales buying back in and raising the price again. If they aren't buying back in already since the price is down.

Jan 1. We will see people buying back in.

a reply to: Woodcarver

possibly.

I think that christmas nite should see another dump in price.

I keep thinking of the guy who had 7500 that he bought for pennies then lost the hard drive. was worth $150,000,000 last week and he has nothing.



Merry Christmas all

a reply to: FamCore

I'm buying Lite. Word is that somebody from Lite joined the board of Facebook, which is going to allow Lite as a payment option. It's a crazy market, but the upward trend is there. Blockchain and hashgraph are not going anywhere.

originally posted by: neo96
On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.

What happens when blockfolio "gets hacked" and all of the digital money is gone?

originally posted by: the owlbear

originally posted by: neo96
On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.

What happens when blockfolio "gets hacked" and all of the digital money is gone?

I use blockfolio- it's great.

It's not connected to your actual coins in any way- you just enter in what you bought at what price and it keeps track of the current market value and what your portfolio is worth.
It's just a ledger.

Once upon a time bitcoin was unique.

It was the sparkling new kid on the block.

It promised anonymity, safeguarded against corrupt banksters printing money arbitrarily, so promised to hold its value etc..

Then, every Tom, Dick, and Harry started to introduce their own "crypto currency".

In order to get gold, you've got to mine that gold out of the ground. It takes a big capital investment in mining equipment and personell to get started, to produce some more gold.

So, getting into the gold business has a hurdle, an initial barrier to overcome.

But, introducing new crypto currencies is like setting up a "web page". Anyone can do it.

The mad rush to have your own alternative crypto is on, just like the internet spurred lots of "domain names" and "web sites".

The problem with crypto currencies is that there is "no barrier to entry."

Your 10 year old kid, can download the software and set up his own crypto.

There's no "quality control".

People are buying "imagination."

At some point, everybody "wakes up."

originally posted by: lordcomac

originally posted by: the owlbear

originally posted by: neo96
On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.

What happens when blockfolio "gets hacked" and all of the digital money is gone?

I use blockfolio- it's great.

It's not connected to your actual coins in any way- you just enter in what you bought at what price and it keeps track of the current market value and what your portfolio is worth.
It's just a ledger.

I like it's charting feature too.

Being able to see how your portfolio performs over time.

originally posted by: lordcomac

originally posted by: the owlbear

originally posted by: neo96
On another note.

Blockfolio.

A cool little app that keeps your crypto portfolio balance in a nice little package.

What happens when blockfolio "gets hacked" and all of the digital money is gone?

I use blockfolio- it's great.

It's not connected to your actual coins in any way- you just enter in what you bought at what price and it keeps track of the current market value and what your portfolio is worth.
It's just a ledger.

So where do you keep your Sim Money?
And why do I always see places "getting hacked" and their bitcoins are gone with no liability?

ETA: not trying to be an ass, but am just trying to understand