Who is selling at these prices???!!!

[Eric123]

Well it looks like we still haven't bottomed yet. $3200's for bitcoin and we got a little bounce but not much.  Looks like maybe we should have got to this point earlier or at least someone is trying to come up with an explanation - Bithub kinda held the price around 6k for longer than expected although the logic of the below article is illogical

https://www.ccn.com/crypto-exchange-bithumb-may-have-temporarily-propped-up-bitcoin-price-analysts/

The level of journalism on the articles about bitcoin is just pathetic, just headlines that are unrelated to the article trying to move the price down.

https://www.marketwatch.com/story/bitcoin-makes-fresh-15-month-low-as-crypto-collapse-resumes-2018-12-07

What bad news???  There is no bad news just price action!!!!!

I can't believe anyone would sell bitcoin at this price.  Hilarious.  If you went long last year at the high and went long on margin, or bought with your credit card or took a loan out to buy bitcoin you are an idiot, but now you may be forced to liquidated.  But anyone else what are you thinking????!!!!

The people wanting to jump out of windows now cause of the price drop is nothing compared to the anguish the people selling now are gonna feel in the next bull run!!

"Oh you bought bitcoin at $15,000!!! wow now it's $300,000, you must be rich??!!"

"No I sold at $3,300, lost about $30,000 and missed out on $1,000.000.  Then I went into a Depression, my wife left me and all my hair fell out.  I'm back living with my mom and see my kids 3 days a month."

Don't let this happen to you!!  But if it does I will laugh in your face!!!!

Who would sell at these prices?  Obviously when you sell out someone else is buying in so here is a good question to ask yourself, "is the person on the other side of your trade dumber or smarter than you."  If you are selling at these prices you know the answer and you deserve to lose money.

[Ripple-Stiltskin]

5 minutes ago, Eric123 said:

Who would sell at these prices?

I do! I always sell when I think it will go lower. 

And buying back when I think price will go up. 

Sold XRP (again) at € 0.33 and bought back at € 0.25.   That’s 25% more XRP’s. 

But I get your drift and I’m trolling a bit here. But although I’m joking, there’s a core of truth in it:  people sell when they expect the price to drop ( further).  I’m obviously leaving out weak hands panic selling, but this is called “ trading” and it goes for every price, even with BTC at € 1 and XRP at $ 0,000000006. 

Your assumption here is that people are selling to never come back in. But only Greg does this. 

[Eric123]

@Ripple-Stiltskin For a market to drop 85% or so it's because money is leaving the market.  

obviously many people and institutions make a very good living trading the market, but it can be a dangerous game especially with markets as thinly traded as these.  

https://cryptodaily.co.uk/2018/12/bitcoin-finally-presents-perfect-setup-for-a-massive-short-squeeze

Shorts at an all time high.  Bitcoin moved 10% on a 2% liquidation in short positions.  Once accumulation is done the squeeze will be epic.

 

[Ripple-Stiltskin]

15 minutes ago, Eric123 said:

For a market to drop 85% or so it's because money is leaving the market.  

Yes, but less money than you think. The delta in Market Cap ( up or down) doesn’t equal ( > exceeds by far) the in-or outflow of money.

15 minutes ago, Eric123 said:

but it can be a dangerous game especially with markets as thinly traded as these.  

Agreed.

I’m in it for the adrenaline rushes. ( playing around with free money as I already pulled out my investment >3) . 

Overall I agree nevertheless with OP. 

Edited December 8, 2018 by Ripple-Stiltskin
Riding the waves of manipulation, fake news, panic and irrational optimism.

[Rey]

As I think there are two reasons for this continuous bear market in 2018, first a correction on the very high crypto gains in 2017 and second the very early and immature state of the crypto market, I think the current sellers are:

* whales who got in early (and who probably don't have another source of income than crypto sales)

* ICO project owners/leaders

* Miners and other participants who have to fund their hash-war

* @Ripple-Stiltskin (as there are probably almost no other retail investors left)

* due to the early state of this market almost no institutional/smart money is in yet, though if there's any at all it won't be our friend and it's probably joining the shorting and selling in order to squeeze the last drops out of the lemon

Edited December 8, 2018 by Rey
typo, thanks 7strings

[7strings]

1 minute ago, Rey said:

As I think there are two reasons for this continuous bear market in 2818

Time traveller busted!

[Ripple-Stiltskin]

8 minutes ago, Rey said:

* @Ripple-Stiltskin (as there are probably almost no other retail investors left)

Lol ! 

Seriously:  “ retail investor” is a huge generalisation, as if they fit just one profile.  I know many retail investors here in the Netherlands: semi prof traders, hodlers, total noobs, pensionado’s etc etc. 

And retail investors in South Korea are very different I’m sure. 

That’s the beauty of this market imo: it’s a set of complex factors determining the price and direction, making it unpredictable by nature. 

[Rey]

2 hours ago, Ripple-Stiltskin said:

Lol ! 

Seriously:  “ retail investor” is a huge generalisation, as if they fit just one profile.  I know many retail investors here in the Netherlands: semi prof traders, hodlers, total noobs, pensionado’s etc etc. 

And retail investors in South Korea are very different I’m sure. 

That’s the beauty of this market imo: it’s a set of complex factors determining the price and direction, making it unpredictable by nature. 

Sure, fair enough. My point is that many of them probably already left the crypto market or have significantly decreased their investment. Would be interesting to know more about the current crypto investors, the amount of their investment and the market share as a group. IIRC analyst Tom Lee estimated that institutions have app. 4% of the market.

A golden OOL for you as you seem to be a brave and determined retail investor 

 

Edited December 8, 2018 by Rey
Fixed OOL

[Ripple-Stiltskin]

17 minutes ago, Rey said:

Would be interesting to know more about the current crypto investors, the amount of their investment and the market share as a group.

https://www.afm.nl/~/profmedia/files/onderwerpen/cryptos/rapport-investeren-in-crypto.pdf

A survey of the AFM on crypto, july 2018. ( Dutch) 

[Rey]

2 minutes ago, Ripple-Stiltskin said:

https://www.afm.nl/~/profmedia/files/onderwerpen/cryptos/rapport-investeren-in-crypto.pdf

A survey of the AFM on crypto, july 2018. ( Dutch) 

Nice, thanks!

[Ripple-Stiltskin]

9 minutes ago, Rey said:

Nice, thanks!

In the survey:

Since the “ crash” only 1% of retail investors has sold ! 68% did just hodl, 17% traded and 14% has accumulated ! 

There it is! 

So @Eric123  who’s selling? In the Netherlands only 1% of retail-investors is selling. ( admitted: it’s a survey of july 2018, but still). 

Edited December 8, 2018 by Ripple-Stiltskin

[Rey]

8 minutes ago, Ripple-Stiltskin said:

In the survey:

Since the “ crash” only 1% of retail investors has sold ! 68% did just hodl, 17% traded and 14% has accumulated ! 

There it is! 

Yes, though the survey also states: "Dit rapport is het resultaat van dit marktonderzoek dat in februari 2018 onder Nederlandse consumenten is uitgevoerd."

So the data collection seems to date from February 2018 ... meanwhile we've seen nine to ten months more bear market ... would be interesting to know if those numbers have changed ...

Edited December 8, 2018 by Rey

[Ripple-Stiltskin]

1 minute ago, Rey said:

would be interesting to know if those numbers have changed ...

Yeah, the lesson is not to assume things until we see facts. ( I’m a notorious fact checker, don’t like intuitive assumptions). 

[Rey]

8 minutes ago, Ripple-Stiltskin said:

Yeah, the lesson is not to assume things until we see facts. ( I’m a notorious fact checker, don’t like intuitive assumptions). 

Well, I respectfully opt to disagree to some extend here. I agree that if facts are available or if they become available one should always have the flexibility to adapt/disregard an assumption conform those facts ... though I don't think that assumptions are wrong and useless per se.

[Ripple-Stiltskin]

9 minutes ago, Rey said:

though I don't think that assumptions are wrong and useless per se.

I’ll tease you with this saying:

“ Aannames zijn de moeder van alle blunders” 

“assumptions are the mother of all blunders”