Bitcoin Cracks $5000

At this rate I predict Bitcoin and all other cryptocurrencies will hit $0 within 3 weeks.

You read it here first.
 
https://www.coindesk.com/major-cryptocurrencies-are-hitting-2018-lows-today/

Major Cryptocurrencies Are Hitting 2018 Lows Today


Bitcoin's drop to an 11-day low of $7,438 is hogging the limelight, as usual, but other cryptocurrencies are struggling, too.

Today, ether (ETH), Ripple's XRP and bitcoin cash (BCH) all dropped to fresh lows for the year so far. Thursday's market developments highlight the continued crunch in the crypto markets, which has solidified in the months since many crypto-assets soared to all-time highs.

Indeed, during the first week of January, the overall market capitalization of the cryptocurrency market exceeded $800 billion - as of today, that figure has dropped to roughly $275 billion, according to data from CoinMarketCap.

Ether

Ethereum's ether token, the second-largest cryptocurrency by market capitalization, continues to take a beating, and as of press time threatens to drop below the $400 mark. ETH has depreciated by 10 percent in the last 24 hours and is down 47 percent on a year-to-date basis.

It's worth noting that the 14-day relative strength index (RSI) shows that the cryptocurrency is at its most oversold level since December 2016 and, hence, could see a sharp rally if the broader markets regain poise.

XRP

XRP fell to $0.53 soon before press time - the lowest level since Dec. 14, according to CoinMarketCap. The cryptocurrency's value has depreciated by 8.8 percent in the last 24 hours and, on a year-to-date (YTD) basis, it is down 76 percent.

The world's third-largest cryptocurrency hit a record high of $3.84 on Jan. 4, and since then has been steadily losing altitude in line with the broader market
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http://www.businessinsider.com/bitcoin-price-grabs-biggest-piece-crypto-pie-this-year-2018-3

Bitcoin just grabbed its biggest slice of the crypto pie since last year

As the market for digital currencies sheds billions, bitcoin continues to eat up market share.

During Thursday's trade, the largest crypto made up 45.66% of the total market, its largest slice of the cryptocurrency pie since the beginning of the year. Meanwhile, the total market cap for digital currencies stood at $274 billion, down more than $500 billion from its all-time high.

The cryptocurrency marketplace, which is known for its spine-tingling volatility, saw bitcoin grab market share as it ran up to $20,000 at the end of 2017. As its price fell at the beginning of 2018, and smaller coins saw relative gains, its share bottomed out below 33% in January.

As uncertainty around regulations and the future of initial coin offerings mounts, it looks like investors are pouring back into bitcoin. Joe DiPasquale, the founder of BitBull Capital, a cryptocurrency fund of funds, said this is a trend that has played out before.

"When cryptos go down in value, investors want to go to bitcoin, the largest market cap, since it is seen as the safest coin," DiPasquale said. "It's the one that has the most acceptance, the most use, and of course it is first mover."

Still, the coin is trading down more than 5% Thursday, according to Markets Insider data, at $7,449.
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This week Twitter announced it would ban advertising for Bitcoins.
 
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The enthusiasm seems to be waning in this thread. I noticed the number of posts moves in step with the price of Bitcoin.
 
Krugminator2 said:
The enthusiasm seems to be waning in this thread. I noticed the number of posts moves in step with the price of Bitcoin.
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Ok, so when this thread was created it was at $5,000, and now it is at $6,900 so I guess the enthusiasm is greater now then when the thread was created according to your "theory" :confused:
 
dannno said:
Ok, so when this thread was created it was at $5,000, and now it is at $6,900 so I guess the enthusiasm is greater now then when the thread was created according to your "theory" :confused:
Click to expand...

You need also to look at the velocity and its direction.
 
dannno said:
Ok, so when this thread was created it was at $5,000, and now it is at $6,900 so I guess the enthusiasm is greater now then when the thread was created according to your "theory" :confused:
Click to expand...

No that actually isn't my theory at all. It only has to do with the direction of price movement and observation that the maximum number of posts were made when it made sense to liquidate positions. The time to talk about hodling would be when price is down 70% not when it is extremely overextended.

Anyone was long at 5k and still long the same position at 6800 right now made a catastrophic blunder and should own that.
 
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