IMO this time it counts. All the other massive drops that people like to talk about (Don't worry it does this 3x a year it will be fine!) happened in relative obscurity. It mattered only to a tiny minority of people, and only a slightly larger minority was vaguely aware of it due to proximity (tech forums, etc). The vast majority of the world didn't even know it existed, much less care about it. This time it's for real, there's a ticker on CNBC. Everybody in the developed world is aware of it, all the susceptible people have had their shot. I don't see how it possibly comes back to any sort of relevance if it does go to (or near) nothing.
Viper GTS
At this point, everything is pure speculation. I really hope people don't read this thread as any indication on what to do with their hard earned money. It is MUCH easier for me to be relaxed about the dip because this is all play money and I have already pulled out the initial investment plus extras. All of my opinions are pure speculation. Given the context of where I am coming from, here are my thoughts.
Almost every crypto has lost 20-25% of their value recently. On the surface, this is scary as hell for most people who are not used to such fast drops. If cryptos were stocks or home values or other types of assets that most people "understand" they would be devastated if they were affected and it's a completely understandable reaction. If they had the foresight to expand the timeline, they would see that overall the value has been rising year by year. But besides the point, I really do understand why people are scared and pull out if they had investments.
Crypto especially has been surging these past few months, huge increases of value to most crypto. Crypto also has had a surge of visibility because of this unnatural increase in value and people want their piece of the pie. It was a combination of greed and high risk tolerance that led the normal people to buy crypto riding the wave, without really doing a ton of research or much caring about what the point of it even was. These people I consider weak hands. And unfortunately, there are people who were burned by buying close to or at the ATH and having the values drop almost as rapidly as they went up. These "weak hands" do what they need to do to survive and they pull out trying to recover as much as they can, further dropping crypto values.
Along with all the news about China and Korea and nobody really knows what's going on. Will they ban? Will they regulate? Will they try to control? For people who only know the surface only get the quick info and this further drops confidence and consequently lead to sell off.
This pattern has happened many times in crypto's history. And as more and more people are aware of crypto, the highs get higher and the drops get more scary. It will start with a trickle, China and Korea might make an announcement to clear the air or whales want to make money off buying the dip or exchanges start opening or coins go public or a technology finally gets implemented or whatever reason but as the trend starts going up again, so will other new "weak hands" or risk takers start buying hoping to ride the wave again and we'll be at this pattern once again. They will go to a new ATH then a pullback, following this pattern over and over again.
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