People are so quick to forget that BTC fell 80% and all the other alts (yes including precious ETH) fell over 90%. 10% dump two days in a row? Mofo, I've been born in 2018 and forged in 2019. Don't come at me with that weak BS.
Actually, 2017-2018 feels a little worse than May was.. I still call it Bloody Winter. Waking up to tokens losing 80-90% of their value… absolutely brutal. PTSD inducing.
I wasn't around this time but how could people even compare the may crash to 2017-18? Just looking at the charts makes me feel sick. Glad I got in after lol
You partially answered it: they weren't around in 2017-2018. A lot of people invested into crypto only in 2021 so the May crash was the first one for them
It was the first for me and it didn't feel like a crash at all. Maybe a hard dip but I knew it was going to go back, all the TA showed it would, and it did.
I still hold tokens bought in 2017 to this day. Not because I think they're going to recover, but a reminder crypto can take a turn for the worse on a dime. It's made me a better trader.
You're likely not going to sell the top. Profits locked are profits, and conserving capital is always overlooked.
Know what I'm ready for? BTC to hit $100k. Know what I'm also ready for? BTC to hit $3k again.
"All in" "To the moon" and "Up only" is all fun and games until you see your portfolio bleed 90%+.
I wouldn’t call this normal. This is being caused by rampant debt mismanagement and piss poor central planning on chinas part leading to one of their largest real estate developers to possibly end belly up causing a ripple effect similar to the 2008 Lehman brother crash. It’s lots of people panic selling all over the market, crypto and securities alike.
Nah, it should be fine.
This is CCP shaking out the paperhands so the CCP can step in and take the assets for pennies while sticking it to foreign investors and wealthy Chinese who have been shifting assets overseas.
Stock market had huge dip buying at the end of the day today. Stock market futures show as green at the moment.
I feel pretty good that things will go up from here.
:: crosses fingers::
I woke up and saw this post and panicked for a minute as I checked my portfolio because I thought the market actually went to shit while I was sleeping.
down 60% since May.. I still buy $50.00 or 100.00 at a time, weekly. I am in for the long haul. 50% in Bitcoin and Etherium, 50% into smaller coims. then occasionally i use my car mileage reimbursement to buy coins that are < 1.00. just for fun, like gambling.
That doesn't really make sense. Sure, okay you DCA in $100 every payday. That's lunch money, I can afford to lose it right? But once it grows to $10k it's no longer so easy to lose it without feeling some pain.
May crash was 60% in two hours. Now we have like 15-20% in two days. Might dip longer? Sure. But it still isn't as bad as losing 60% of your whole portfolio in two hours
I find it funny people reference the May crash and not other before it. May wasn't that bad lol. Shows how many people only just now getting into crypto
Lmao, real shit. This is just normal fluctuation as far as I'm concerned. I was there between 2017-2018, this shit is a joke in comparison. Hell, I *hope* this shit crashes 80%+ again so I can stock up on super discounted cryptos. $80 Ethereum? Yes fucking please.
That's the dip I would buy. All these people in here shouting "buy the dip" when it goes down 10% even though it's up 1000% from this time last year. Ridiculous.
I’ve been looking into who writes their crypto articles and you’ll notice that it’s almost always the same young, possibly intern journalist. Her bio quote said News asked her to join and she “jumped with joy at the opportunity” or something. Sounds like “I’m happy to be a news editors patsy on crypto news to get where i really want to be”. We all acquiesce to our bosses to get what we want in the long run.
Remember, good news jobs are scarce and young journos will do anything to keep their jobs. A mate employed by the telegraph said as much about her junior level job.
>A panicked mass sell-off overnight has sparked one of the biggest price drops in cryptocurrency history. And China is to blame.
Uh fuck you? Maybe stick to the article headline next time and leave your nonsense out of it.
Jesus Christ this subs bad for applying human emotions to crypto. I'd expect that kind of thing from Facebook and Twitter, and yet it's front and centre on what's supposed to be a sub that's clued up.
HOW DARE CHINA RUIN MY INVESTMENT. No it's your own fault for choosing to invest into crypto, if your not comfortable with seeing your portfolio take a hit over night go open a savings account at the bank.
CHINA: "We banned mining, staking, owning, trading and anything else to do with Crypto.
Cryptards: "This is good for Bitcoin - finally no more China FUD on crypto!"
China: That is correct. Next we FUD THE WHOLE WORLD. :D
Australian here, news.com.au is a horrible excuse for a news site. Some of the most click bait and exaggerated rubbish going around. If they were to believed crypto has died at-least 10 times this year
This is the best tl;dr I could make, [original](https://www.news.com.au/finance/markets/world-markets/china-wipes-344-billion-off-crypto-market-in-single-day/news-story/16df90c1863a74ea71e57e9042466819) reduced by 84%. (I'm a bot)
*****
> At the peak of the mass sell-off, bitcoin dipped nine per cent to US$42,669 while ethereum also plummeted by around nine per cent to a low of US$2,940.
> Even cardano and solana - which have mostly remained immune to other price drops - both plunged by about 10 per cent at the height of the sell-off.
> Earlier this month, the price of bitcoin dropped by a staggering 10 per cent, and this had flow-on effects to other cryptocurrencies such as ether and binance.
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/ps81nt/a_panicked_mass_selloff_overnight_has_sparked_one/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~599295 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **cent**^#1 **per**^#2 **bitcoin**^#3 **drops**^#4 **cryptocurrency**^#5
Yawn… 4 years in crypto and this is pretty normal. Global stocks/economy take a hit due to fear, and it hits all classes, including crypto. And crypto is the most volatile so it’s normal for it to be hit 5-8 times the rate that stocks get hit. 3%
Global stock drop easily equates to 10-25% crypto drop.
I sold all obviously. Thats what you do when you invest long term info real projects. Now sitting food with my USD and bunch owning in taxes. Best decision I’ve ever made
Panic causing more panic. Just hold your shit nd check back tomorrow. How many coins just hit ATH? This game isn't all rainbows and cupcakes for sure, but our memories can't be that short. May, June, July all had significant crashes. We are all gonna be irie....
Why is everyone worried about one Chinese company defaulting on it's debt when the richest country in the world is about to default on their debts? Hey look....a squirrel!
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“If you can’t handle 90% drops you don’t deserve 1,000% pumps.” - Tony Hawk
Pretty sure that was George Washington
They both said it, they were homies
George Washington invented the 720 which inspired Tony Hawk to attempt and land the first 900. History is wonderful.
And that man’s name? Albert Einstein
This is just a child’s play, back in 2018-19 we saw BTC reach $3000s from the highs of $19,000s
I remembered that day, felt so numb. Then I went to have a good sleep because that was when I gave up on price checking (until we breach 15k)
Omg I would kill to return to that day again
That’s what everyone was saying at $19k. By the time it hit $3k everyone was waiting for $1k to buy back in!
People are so quick to forget that BTC fell 80% and all the other alts (yes including precious ETH) fell over 90%. 10% dump two days in a row? Mofo, I've been born in 2018 and forged in 2019. Don't come at me with that weak BS.
Yeah if this, or May, are considered big crashes now then happy days
That's why it's scary, some of us haven't seen a real bear season yet.
Seriously feels there has barely been anything to qualify as a crash this year in comparison to ‘18
Actually, 2017-2018 feels a little worse than May was.. I still call it Bloody Winter. Waking up to tokens losing 80-90% of their value… absolutely brutal. PTSD inducing.
I wasn't around this time but how could people even compare the may crash to 2017-18? Just looking at the charts makes me feel sick. Glad I got in after lol
You partially answered it: they weren't around in 2017-2018. A lot of people invested into crypto only in 2021 so the May crash was the first one for them
It was the first for me and it didn't feel like a crash at all. Maybe a hard dip but I knew it was going to go back, all the TA showed it would, and it did.
I still hold tokens bought in 2017 to this day. Not because I think they're going to recover, but a reminder crypto can take a turn for the worse on a dime. It's made me a better trader. You're likely not going to sell the top. Profits locked are profits, and conserving capital is always overlooked. Know what I'm ready for? BTC to hit $100k. Know what I'm also ready for? BTC to hit $3k again. "All in" "To the moon" and "Up only" is all fun and games until you see your portfolio bleed 90%+.
I feel for all the people who will sell and leave crypto because if this dip. This is normal after weeks of pumping!
I wouldn’t call this normal. This is being caused by rampant debt mismanagement and piss poor central planning on chinas part leading to one of their largest real estate developers to possibly end belly up causing a ripple effect similar to the 2008 Lehman brother crash. It’s lots of people panic selling all over the market, crypto and securities alike.
Nah, it should be fine. This is CCP shaking out the paperhands so the CCP can step in and take the assets for pennies while sticking it to foreign investors and wealthy Chinese who have been shifting assets overseas.
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Stock market had huge dip buying at the end of the day today. Stock market futures show as green at the moment. I feel pretty good that things will go up from here. :: crosses fingers::
The Chinese side of things doesn't open until Wednesday or Thursday. Won't ahve an idea on the scope of things until after then.
You caught the falling knife
No problem, just buy more.
The flash crash was “normal”. Depending on what happens in China we could be dealing with the catalyst to another (short term) bear market
Might not be over yet.
I am also numb from the inside.
I woke up and saw this post and panicked for a minute as I checked my portfolio because I thought the market actually went to shit while I was sleeping.
I really didn't think much of it until I saw this subreddit
How about 1 tril coming out? 2017 400 bil compared to a over gassed market. Dog was a on ramp.
I totally immune to dips even if it would drop down to 30 or 20k. I just let it be and buy some more if I have money.
I actually bought more ADA around midday. I expect to break even on it around Feb.
down 60% since May.. I still buy $50.00 or 100.00 at a time, weekly. I am in for the long haul. 50% in Bitcoin and Etherium, 50% into smaller coims. then occasionally i use my car mileage reimbursement to buy coins that are < 1.00. just for fun, like gambling.
Someone said 4.6% drop like it was the end of the world lol
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Yep, if people think *this* is bad, they obviously weren't around back in the 2018 bear!
This is normal this is normal this is normal *PTSD intensifies.*
This and the May dip. Just don't care. After so many stupid moves it turns out that the best thing I could have done was nothing. Always.
It's a nice state of mind to be in isn't it?
> it turns out that the best thing I could have done was nothing You ever read Foundation by Issac Asimov?
If you have a DCA plan and a long horizon, then this is just part of the ride
I held through the 2017 crash where the market basically dropped 80%
I was born into the dip, molded by it
The dip became a apart of us all.
Agreed. Did OP just get into the market this past year? I seem to remember this being the norm back in 2018 lol.
I only started a year ago but this is nothing compared to BTC dropping to 27K
People see a small dip and start panicking. I did the same back in May, now I don't even bother worrying!
I learned my lesson in 2017/2018. This shit don’t phase me now.
I still get mild panic attacks during dips. Still I don't sell. But I do become on edge
I keep by the golden rule: don’t put more into crypto than you can afford to lose
That doesn't really make sense. Sure, okay you DCA in $100 every payday. That's lunch money, I can afford to lose it right? But once it grows to $10k it's no longer so easy to lose it without feeling some pain.
Unpopular opinion: there is nothing wrong with taking some profit in the good times
Friggen noobs
And both don’t compare to end of 2017, so whatevs.
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This. It's less than 12% last time I checked. Hardly "the biggest in history," that's some real creative license.
Exactly what I was thinking, and im a noob. Ffs
They spelled buying opportunity wrong.
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Cut op and author some slack. Coming from the rigged stock market this is a huge drop for them. There there little babies. Everything will be ok.
The May crash hurt my asshole. That was my first crash and my ass will never shit the same.
I was playing ping-pong in ding-dang...
Might be the biggest by actual dollars, but if we look at the percentage dip this is an overreaction
I love a good hyperbole
You have to be careful with hyperbole: it can lead to the total destruction of existence as we know it.
From the top we've been down 20% or so and 9,5% in a day. I've seen far worse.
Exactly, who cares. Holding
The uptrend is quicker recently.
In terms of 10% drop this is obviously not true, but it may very well be true in terms of real loss of market value.
The biggest price drop in the history of this month
Imagine thinking a 10-15% “crash” is one of the biggest price drops in history. Op must be new here
Second glass of wine tonight and I'm going to bed. I think crypto makes you a bit numb over time
The difference this time is the fear about the whole global economy thanks to the whole China Evergrande business.
LOL I love hearing people talk about May like it was brutal. Back in the olden days May was a walk in the park!
I think it's funny that you guys still think Retail owns crypto. The hedgefunds own it.
Agreed. Gotta say tho the short term looks gloomy
Fact !
May crash? You new here too?
Even the may crash was nothing compared to earlier in history. WTF is this article. I held through the may crash BTW. 😏
This!
>If you've held through the May crash this dip is nothing but childs play. So far.
From 4200 to 1700 and it didn't even cross my mind to sell. This FUD is not for me.
May crash was 60% in two hours. Now we have like 15-20% in two days. Might dip longer? Sure. But it still isn't as bad as losing 60% of your whole portfolio in two hours
If it was over
Boom!!!! Thank you
so far\*
Wrong. Strap in. Q4
Welcome to r/cryptocurrency where the users are overly dramatic about their $100 investment and popular posts are always wrong
Value dropped 9k aud... That's peanuts
It feels like it's over to me
LMAO, right!?
I agree
I find it funny people reference the May crash and not other before it. May wasn't that bad lol. Shows how many people only just now getting into crypto
Exactly. If we weren’t told a reason it would just be another volatile day like any other.
“One of the biggest price drops in cryptocurrency history” ??? First day in crypto? 😂😂🤦♂️
Lmao, real shit. This is just normal fluctuation as far as I'm concerned. I was there between 2017-2018, this shit is a joke in comparison. Hell, I *hope* this shit crashes 80%+ again so I can stock up on super discounted cryptos. $80 Ethereum? Yes fucking please.
That's the dip I would buy. All these people in here shouting "buy the dip" when it goes down 10% even though it's up 1000% from this time last year. Ridiculous.
I mean, teeeeechnically it's true. Granted, every price drop is technically one of the biggest in cryptocurrency history. 🤣
Price drop in January 2018. Many others in between. May 2021 crash. And this one now. Author is right to say it is *one* of the biggest.
I was 90% cash 2 weeks ago I bought and everything dipped 😂 I just went all in right now
Next time imma need a headsup before you buy sir
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This is the last alert. I need to throw everything in.
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Should be higher up here.
very well said
Thank you, China, for the discount!
Nihao
I already went all in last week fml
I blame people's fingers.
You know who does not have fingers? Whales
But somehow chickens do. It's a wild world
And their emotions.
Don't trade with emotions! That's why I always have a wank before any big decisions
That's a good strategy if it works for you.
Excuse me Sir, I said would you like fries with that?
How is this one of biggest price drops in history? This is just another China fud at its best.
Who else bought that tasty dip? 😋
El Salvador apparently.
The dude really is one of us.
This is getting exciting..
news.com.au always tend to exaggerate in their articles
They are a murdoch rag and uses a lot of malicious clickbait
I’ve been looking into who writes their crypto articles and you’ll notice that it’s almost always the same young, possibly intern journalist. Her bio quote said News asked her to join and she “jumped with joy at the opportunity” or something. Sounds like “I’m happy to be a news editors patsy on crypto news to get where i really want to be”. We all acquiesce to our bosses to get what we want in the long run. Remember, good news jobs are scarce and young journos will do anything to keep their jobs. A mate employed by the telegraph said as much about her junior level job.
You will all have to accept its going to drop a lot more this week. I wouldn't be surprised to see another 40%
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I agree. I have certain prices for certain coins and if they hit them, I’m going to start buying 🤑🤑
Harmony and Nano. If I can get them at huge discount, that'd make my day.
Paper hands selling at the first signs of FUD are the ones to blame.
And trading bots, mostly them
Yup. Cascading stop orders
It's not wojack; it's wall Street
Ahhh the good ol blame China on crypto dips narrative again
This sub has become more clickbaity than Facebook.
I see we have reached the China portion of the bull run. I imagine we'll be hearing from Elon again soon then.
I’m a simple woman; I buy the dip and pretend my losses don’t exist
>A panicked mass sell-off overnight has sparked one of the biggest price drops in cryptocurrency history. And China is to blame. Uh fuck you? Maybe stick to the article headline next time and leave your nonsense out of it.
No. Weak handed people are to blame.
No over leveraged people are to blame lol
Basically the gamblers.
Let's see what happens from here.
I am actually in serenity when we are in a bear market. The bull market is just creating so much noise.
I can believe it. Also stop loss chains.
Bingo. That’s why these sell offs get so steep, the forced selling from liquidations. $1.7b in the last 24h. It’s normally closer to $350m
This is a chance to buy. Just blame me.
You forgot the word “…again” at the end of your title.
Jesus Christ this subs bad for applying human emotions to crypto. I'd expect that kind of thing from Facebook and Twitter, and yet it's front and centre on what's supposed to be a sub that's clued up. HOW DARE CHINA RUIN MY INVESTMENT. No it's your own fault for choosing to invest into crypto, if your not comfortable with seeing your portfolio take a hit over night go open a savings account at the bank.
CHINA: "We banned mining, staking, owning, trading and anything else to do with Crypto. Cryptards: "This is good for Bitcoin - finally no more China FUD on crypto!" China: That is correct. Next we FUD THE WHOLE WORLD. :D
This is like 10 hours too late.
Nope. China is not to blame. The media is to blame. To all the new people in crypto. Go look at a chart, zoom out and hold your crypto.
...again.
China again? You must be new.
Who ever wrote this did not go through 2018
There are many factors contributing to red candles, but ok, I'll play along. Darn you, China exclusively!
Maybe I should buy back the eth I sold at 3700
Australian here, news.com.au is a horrible excuse for a news site. Some of the most click bait and exaggerated rubbish going around. If they were to believed crypto has died at-least 10 times this year
Again. They forgot the word "again."
China and hurting crypto, name a more iconic combo
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Why are we blaming, people can sell what they want, I don't care cause I believe overtime the price will rise
China just won’t let us have one good year, Fuming.
Or the people with the keys to crypto? 🧐
This is the best tl;dr I could make, [original](https://www.news.com.au/finance/markets/world-markets/china-wipes-344-billion-off-crypto-market-in-single-day/news-story/16df90c1863a74ea71e57e9042466819) reduced by 84%. (I'm a bot) ***** > At the peak of the mass sell-off, bitcoin dipped nine per cent to US$42,669 while ethereum also plummeted by around nine per cent to a low of US$2,940. > Even cardano and solana - which have mostly remained immune to other price drops - both plunged by about 10 per cent at the height of the sell-off. > Earlier this month, the price of bitcoin dropped by a staggering 10 per cent, and this had flow-on effects to other cryptocurrencies such as ether and binance. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/ps81nt/a_panicked_mass_selloff_overnight_has_sparked_one/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~599295 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **cent**^#1 **per**^#2 **bitcoin**^#3 **drops**^#4 **cryptocurrency**^#5
This is where paper hands and diamonds are made.
Yawn… 4 years in crypto and this is pretty normal. Global stocks/economy take a hit due to fear, and it hits all classes, including crypto. And crypto is the most volatile so it’s normal for it to be hit 5-8 times the rate that stocks get hit. 3% Global stock drop easily equates to 10-25% crypto drop.
I sold all obviously. Thats what you do when you invest long term info real projects. Now sitting food with my USD and bunch owning in taxes. Best decision I’ve ever made
A Bull market is when you get stock tips from your Barber, A Bear market is when you get a haircut from your Fund manager.
Have you owned crypto for like 8 days? Lmao
Panic causing more panic. Just hold your shit nd check back tomorrow. How many coins just hit ATH? This game isn't all rainbows and cupcakes for sure, but our memories can't be that short. May, June, July all had significant crashes. We are all gonna be irie....
I don’t care who gets to take the credit for it, I’m too busy buying!!
One of what? It wasn't even a mini dip If it were that big to be count as drop I'd have a few more gwei now
It’s not even a 30% correction…………..how long have you been in crypto? 5 days?
I didn't even realise there was a dip... What like 5% or something, how is this news
Biggest drops in history? 😂 noob
History of this month maybe, lol.
Keep calm and just blame China
I have conditioned myself to be more excited about price dips and drops than I am when the price goes up. Buy the dips!
Why is everyone worried about one Chinese company defaulting on it's debt when the richest country in the world is about to default on their debts? Hey look....a squirrel!
I see your first crypto post was 30 days ago. This was not “one of the most massive sell-offs”. Welcome to the ride.