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Message
re: Official CryptoTalk Thread
Posted on 1/17/18 at 5:52 pm to GRTiger
Posted on 1/17/18 at 5:52 pm to GRTiger
quote:
Sounds more like a recession.
A correction can also be a recession.
I think that as volatile as crypto is, it won't undergo a small correction and keep chugging like the actual market can. The swings are too big for that. If/when a correction happens, it will be worse than the past few days have been.
2
Posted on 1/17/18 at 5:59 pm to stout
The overall market lost about 50% market cap in the last month. I also realize that this market seems to contract early in the year, so this could be a correction or just the standard ebb and flow. Still, that's a big dip for the entire market not to at least be considered a correction.
Posted on 1/17/18 at 6:00 pm to stout
Love how you transformed your verbiage from crash to correction.........
Posted on 1/17/18 at 6:02 pm to GRTiger
quote:
The overall market lost about 50% market cap in the last month.
Didn't it also gain 50% cap in the previous month or really close to it?
Posted on 1/17/18 at 6:04 pm to 13SaintTiger
I did?
Posted on 1/17/18 at 6:05 pm to stout
Fair enough. I merely wanted your thoughts.
Posted on 1/17/18 at 6:10 pm to bayoubengals88
I will say if this continues for another week or so, and we see some of the crap coins disappear, then we will obviously be in a full on correction and that wouldn't be a bad thing. That will add more value to the big boys obviously.
It just seems like a rebound is happening fairly fast at this point, though.
It just seems like a rebound is happening fairly fast at this point, though.
Posted on 1/17/18 at 6:11 pm to stout
How much is ICX?
Posted on 1/17/18 at 6:13 pm to stout
Yes. That doesn't preclude a greater than 10% drop in value from being called a correction. It's actually often the prelude to a correction.
And how can a correction be a recession? They are defined based on the percent drop and time to recover. That's like a saying a minute can also be an hour or a sprain can also be a bone break.
And how can a correction be a recession? They are defined based on the percent drop and time to recover. That's like a saying a minute can also be an hour or a sprain can also be a bone break.
Posted on 1/17/18 at 6:14 pm to Paul Allen
$7.14 now. I bought some a few days ago around $9 but then averaged way down when it was trading in the $5 range yesterday. I haven't done the math on what my average price is yet. Will do that in a bit.
Posted on 1/17/18 at 6:18 pm to stout
Cool. I’m curious to see about your findings.
Posted on 1/17/18 at 6:19 pm to GRTiger
quote:
That doesn't preclude a greater than 10% drop in value from being called a correction.
I agree if we're talking about typical markets. Nothing about the volatility of crypto is typical, though.
quote:
They are defined based on the percent drop and time to recover.
You're correct. I misspoke.
Posted on 1/17/18 at 6:24 pm to stout
quote:
I agree if we're talking about typical markets. Nothing about the volatility of crypto is typical, though.
Fair point. Like I said, could just be a typical day in the life. I think the crypto market is still figuring out its own definitions and norms.
Posted on 1/17/18 at 6:27 pm to GRTiger
quote:
I think the crypto market is still figuring out its own definitions and norms.
I agree and if there is ever a more stable currency that markets get based on, the overall market will more closely resemble actual markets. Of course that means the "gold rush" will be all but over with when that happens.
Posted on 1/17/18 at 6:42 pm to stout
quote:
gold rush
Have you ever heard about all the West Coast migrants that showed up to California just to find out that the trip was a waste?
Posted on 1/17/18 at 6:59 pm to stout
quote:
I will say if this continues for another week or so, and we see some of the crap coins disappear, then we will obviously be in a full on correction and that wouldn't be a bad thing. That will add more value to the big boys obviously.
Would have loved to see this happen. There are some true shitcoins fogging up the market right now, but I guess a plus side is that this means "business as usual" remains and theres still time to get that lambo.
Posted on 1/17/18 at 7:07 pm to GRTiger
All hail our fearless leader: 
Posted on 1/17/18 at 7:08 pm to OleWarSkuleAlum
The Bitconnect subreddit is a digital graveyard. They are even having to share the suicide hotline there.
Posted on 1/17/18 at 7:10 pm to Tiguar
I'm just tired of these fricking Meme coins that keep getting overhyped
Posted on 1/17/18 at 7:14 pm to stout
quote:
The Bitconnect subreddit is a digital graveyard. They are even having to share the suicide hotline there.
I’ve been browsing it all day since they reopened it for some laughs
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