Peter Schill and the Health Ranger are finally right. They were right all along.
The cryptocurrencies have all crashed and are headed towards zero.
It was only a few days ago I commented that almost every cryptocurrency was in the green. Today was the exact opposite.
Cryptocurrencies hit an all-time high of $652 billion just a day ago and on Friday they hit a low of $423 billion for a one day loss of 35%.
They have since recovered to $540 million.
Bitcoin hit an all-time high just above $20,000 on December 17th and recorded a low at Coinmarketcap.com on Friday of $11,833 and is currently just above $14,000.
That means bitcoin has slumped 40% since its high to the low and is currently 30% off its all-time high. Overall, bitcoin has fallen further than the rest of the sector quite dramatically in the last few days.
But, wait, are Peter Schill and the Vitamin guy right? We are only down in the neighborhood of 30-40%.
Bitcoin has actually fallen 30% five times this year already. So, on average, this happens every two months. And, during previous drops it was followed by an increase of 76%, 237%, 183%, 165% and 152% before it dropped again.
And here are past major drops going all the way back to 2010:
So, is this latest drop all that extreme? Or unexpected?
In fact, it wasn’t unexpected at all, by us here at TDV.
TDV’s Senior Analyst, Ed Bugos, put out an alert to subscribers (subscribe HERE) on Thursday warning of a pullback being imminent, saying, “We could easily see prices fall back to $13,500. The primary bull market trend is intact above $12,700, which is the last highest low.”
Less than 24 hours later and bitcoin hit Ed’s target low almost exactly. And, as you know, I have been suggesting taking profits on bitcoin and the cryptos since bitcoin soared over $15,000. And Ed reiterated that in his alert yesterday, saying, “we still highly recommend rebalancing your portfolio and reducing your crypto exposure a little."
So, we will see how this most recent pullback plays out. In this interview I did today with Rogue Money I discuss where things could be headed.
For now, this looks like a completely ordinary pullback after a massive run higher. And, a healthy and needed pullback at that.
Perhaps bitcoin and the cryptos are giving everyone an early 30% off Christmas present. If this was Black Friday and it was 30% off DVD players at Walmart, millions of American sheeple would climb over each other to get it. But, when cryptos are 30% off? For some reason, people have the opposite reaction to retail goods and they are too scared to buy.
For all those who had been waiting for the dip to buy... this is the dip.
And, on December 24th at 12pm Eastern time I’ll be revealing my next cryptocurrency pick to TDV Premium subscribers (you can subscribe or upgrade from Basic HERE).
It has fallen about 30% along with all the other cryptos in the last few days… so, if that doesn’t change by Sunday you may get it at a bargain.
For now, HODL on, everyone.
Most people buy DVD to use it. But they buy crypto to sell for more.
So if the DVD is cheap - they love it. But if the price of savings goes down - they paniking. What if it will cost even less?
Common misconceptions lead market to this panik runs up & down.
Yo ,
Very interesting read, Thanks you for sharing it!
Indeed a dip is healthy. At the previous high you know that one day there have to be a correction. Now we can look out for a new ATH again, that is way better.
how do you feel about the declining bitcoin price.
and how your prediction of bitcoin in 2018 will come,
whether decreased or otherwise,
What is your opinion?
I was expecting this dip due to the holidays. I think Bitcoin was to high in a short period of time. I do believe Bitcoin will go up next year and reach new high. That's my Opinion.
This was expected calm the fuck down people
Right.
I have been expecting a dip to around $6,000 per BTC by January but I am starting to feel better about the short term and the longer term. Thanks for putting this stuff into perspective.
Please please holiday baby jesus let us see a $6k btc as an entry point to crypto. Tried to scramble to fiat together to catch the dip and was prepared righttttt as it bounced most of the way back up. Gimme dat $6k even temporarily!
I would say they are here for a very long time to come
It's better than a black friday sale in my opinion, Jeff!
people actually die getting trampled just to buy a tv.
Panic is primitive mode of our mind. People that are not calm inside panic all the time, including this. Peoppe crypto's will go up all the time with small dips like this, but in the end of year it will be big plus.
I believe everyone at some point in their life embraces the ideals of anarchy. Some people for only a few hours, others for a life time.
As far as people not being able to see the paradigm shift, I believe people become so invested in something, that they cannot believe that something better could take over.
everything go up must come down, i look at it as a healthy correction.
Don't spread the FUD, buy the DIP!
Great article! Anyone with experience day trading stocks has been doing very well and did jump on the 30% fire sale! P.S. I am new here, navy veteran, video engineer and former intel cryptologist please help me get started!
Please let them go to zero so I can buy them all. Hahahaha! :)
I think thats be a chance of the taking place on the crypto markets. Choose correct coin and be rich ;)
how do you feel about the declining bitcoin price.
and how your prediction of bitcoin in 2018 will come,
whether decreased or otherwise,
What is your opinion?
We are in a wait that crypto should drop, so we can buy easily ... hahah
Love it. These pull backs are healthy. Great content as always guys!
Thanks Top posts useful from you
Thank you for the info.....🤔
Peace over all of us, very nice post from either the word or the appearance
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HEALTHY PULL BACK
sigh of relief looking now at the green blockfolio again :)
#Clearance Pricing Baby!! @dollarvigilante
Upvoted! Christmas came early on cryptoland! Thanks for sharing.
I lıke your perspective
End of a year.. I waiting for this to buy some crypto for good price :) Happy shoping
Hahahahahaha, this is really funny! Seriously @dollarvigilante. You're so correct too. It was black Friday! And everyone was in panic instead of being happy - elated even, it was a "buy! buy! buy! " time. Hahahah.
OK, people need to be tuned in to the right and timely info, subscribing for the service above really sounds like a nice option, would try that out.
@nevies
curious as to why it would go to zero? something better to replace it? just scary to watch how fast the drop was but like you said it was opportunity for those who waited. hope more gains to come in cryptos. been watching the past week and cryptos that weren't even active were green. Hoping after yesterday btc goes 100%+ to the upside ;) thanks
Nothing is going to zero. Even Doge coin is alive. USD itself too won't go to zero. It will just become miniscule relative to all reputable cryptocurrencies.
Crypto Crash or Healthy Pullback? Jeff Berwick on Rogue Money
Christmas is coming, they pull their money to buy gifts, noche buena, etc.
Yeah, Bitcoin is NOT hitting 0 lol
I have several friends who were waiting just for this opportunity, a good dip to be able to jump in before it starts to go up again big time. My hisband believes this low is necessary so that newcomers can see how crypto works, not freak out too much and not pull back the next time it dips, once it hits highs of 50K and more, big dips might hurt more than now. He says this dip is necessary for the future of crypto health and for it to continue to go up steadily. I don't get all the technical terms yet, but I've seen a lot of people voicing similar opinions based on their knowledge.
Plus it doesn't worry me, so I think this was needed and hopefully, if all goes well, crypto can go back up, by a lot, and then when it dips, it won't dip so much, it'll be a smaller dip, because people won't freak out or panic sell.
There is 4 major factors behind this crash :
1– crypto investors and people made a cash out of profits from the crypto markets for the holidays of the end of the year, this happen every end of the year, that means that a big amount of money is going out from the crypto markets, this is very logical after the huge raise of the prices of the crypto currency, people are greedy, they sell to book their profit this has cause a sell off, what means a huge crash .
2-the rumours of the Hack and the ddos attacks against some crypto platforms such as Yobit and Bitfinex, by some hackers from North Korea .
3-The change in the crypto regulations in some country that adopts Bitcoin earlier this year from Japan, USA, and South Korea,this new regulations will increase the taxes on the Crypto Business World, this means that it will become less profitable .
4-The Hack of the Tether network ( USDT ) the last week .
this crash is very positive for the long term growth of bitcoin and others crypto currency
I'm distressed by how many people think it's a good idea to buy into crypto because it's taken a severe plunge in the markets. They don't see it as a warning that things can go against them very, very quickly and leave them with a deficit.
I guess i needed to read this to be calm
Great information ... thanks for sharing ...please check my intro post :D
I don't care. I hope crypto currencies finally take away power from the banks.
The thing is, all the newbies who got into cryptos like in the past month or two have never experienced anything like this before. What happened a couple of days ago would destroy anybody used to trading in the stock markets with their circuit breakers and all that.
Thanks for the Info. I was expecting this dip due to the holidays. I think Bitcoin was to high in a short period of time. I do believe Bitcoin will go up next year and reach new high.
Thank you for saying this. "But, wait, are Peter Schill and the Vitamin guy right? We are only down in the neighborhood of 30-40%.
Bitcoin has actually fallen 30% five times this year already. So, on average, this happens every two months. And, during previous drops it was followed by an increase of 76%, 237%, 183%, 165% and 152% before it dropped again."
I realy think that Bitcoin Cash will catch Bitcoin in the coinmarket Top... Have already invested some in #BCH :)
I LIKE IT.. !! Great content. Thank you for sharing. Please keep it up. I already upvote.
Hello, great work, i liked your post and reward it with upvote.
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Nice read, good advice. Hodl indeed!
Awesome post. Feel sorry for the people that are waiting for bitcoin to reach $100,000. The moment MSM got onto it, the suckers started investing and the smart people got out
Thank you for helping to educate the seekers of change...
the chart above shows the best returns on investment I have ever read in history.
something will crash, it just won't be digital currencies