Bitcoin's gone a bit quiet

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ColdIron
ColdIron Posts: 9,144 Forumite
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in Savings & investments
A 30% plunge in a week, approaching 2008/09 GFC proportions, and not a peep. I wonder how many have been badly burned by buying into the recent hype and are now hoping for a 50% rise just to cover losses. I'm not trying to be inflammatory, just an observation about the recent lack of commentary and threads
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  • Bonnie151
    Bonnie151 Posts: 279 Forumite
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    I’m happy to peep. :D I’m pretty much hunkering down and waiting it out. It’s plunged before, it’ll plunge again. I *am* hoping this scares off all the get rich quick people.
    Hmmmm, need new siggie :cool:
  • System
    System Posts: 178,102 Community Admin
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    Bonnie151 wrote: »
    I’m happy to peep. :D I’m pretty much hunkering down and waiting it out. It’s plunged before, it’ll plunge again. I *am* hoping this scares off all the get rich quick people.
    That won't leave many people!
  • Bonnie151
    Bonnie151 Posts: 279 Forumite
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    There are plenty of us. We’ll just go back to hiding in our geeky forums. :p

    I do want to see what the floor is. I told myself over the summer that if we ever saw £1500 again, I’d buy more.
    Hmmmm, need new siggie :cool:
  • ozaz
    ozaz Posts: 315 Forumite
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    edited 22 December 2017 at 1:44PM
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    ColdIron wrote: »
    A 30% plunge in a week, approaching 2008/09 GFC proportions, and not a peep. I wonder how many have been badly burned by buying into the recent hype and are now hoping for a 50% rise just to cover losses. I'm not trying to be inflammatory, just an observation about the recent lack of commentary and threads

    30% or greater plunges aren't exactly rare occurrences for Bitcoin.
    There was one as recently as July 2017.

    I'd find it surprising if people who use the moneysavingexpert forums haven't educated themselves on the extreme volatility of Bitcoin prices and don't refrain from speculating with anything more than a small amount.
  • miss_not_alotofmoneypenny
    miss_not_alotofmoneypenny Posts: 69 Forumite
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    You've all missed the train for Bitcoin i'm afraid, don't worry though the "DigiByte" Moon express is leaving very soon!!!!!!
  • AlanP_2
    AlanP_2 Posts: 3,265 Forumite
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    ozaz wrote: »
    30% or greater plunges aren't exactly rare occurrences for Bitcoin.
    There was one as recently as July 2017.

    I'd find it surprising if people who use the moneysavingexpert forums haven't educated themselves on the extreme volatility of Bitcoin prices and don't refrain from speculating with anything more than a small amount.

    Apart from one poster recently who wanted to put his whole Pension Pot into Bitcoin :j
  • cs90
    cs90 Posts: 38 Forumite
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    I couldn't be happier. Hodling and buying more!

    Bitcoin is still 50% up for the month, 1,705% up for the year.
  • le_loup
    le_loup Posts: 4,047 Forumite
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    Best not to do too much Hodling. Could be bad for your eyesight.
  • k6chris
    k6chris Posts: 738 Forumite
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    edited 22 December 2017 at 5:33PM
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    Bitcoin has fallen over 70% 3 times in the last 7 years - nothing new. Could easily go down to sub £1,000 before ending 2018 at £50,000. Image from ZeroHedge blog
    20171222_btc7.jpg
    "For every complicated problem, there is always a simple, wrong answer"
  • TBC15
    TBC15 Posts: 1,456 Forumite
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    Bonnie151 wrote: »
    There are plenty of us. We’ll just go back to hiding in our geeky forums. :p

    I do want to see what the floor is. I told myself over the summer that if we ever saw £1500 again, I’d buy more.

    You have made at least 247 contributions to the real world. I’m sure sticking you in a room with Warren and Terry for a week will put you back on your feet.

    Don’t lose hope, we are here to help you when you need it.
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