News

Bitcoin price crash: Crypto sharks are circling (BTC USD)

By Chris Burns/

Bitcoin prices fell this week at a rate the coin hasn't fallen for... a while. Despite this, the drop is a blip when compared to similar drops from previous years in Bitcoin and the whole cryptocurrency market. Now's the time when this happens – now's when the weak hands get shaken out, as they say. Have a peek at some hardcore crypto opinions on the situation below.

First we're going to peek at an opinion from Loomdart, one of several OG cryptocurrency traders we're prone to peek at when the market's moving. Loomdart took the entire Twitter crypto community's chatter from the last several days and summed it up in a single tweet.



I don't believe Bitcoin is necessarily in a place where it's bound to go up nearly as fast as it went down... but he might be right. He's being goofy, but he might just be right. The godson of the Altcoin market had something similar to say.



If we get a glorious bounce today this bullish flag will be confirmed. pic.twitter.com/6nETHIZJrb

— AltcoinGodson [Down in BTC & USD] (@Mansa_Godson) January 17, 2018

The man known as Coin Shark suggested that the current market momentum cannot be halted by something like this drop. People want to make money, right? They want to trade their Bitcoin for altcoins so they can get more Bitcoin, correct? They don't want to miss out on a coin value pump, so they buy whenever the lights go green... right?


That's the exact reason why the FOMO will always be bigger than the panic that goes before. pic.twitter.com/34nMWM2DiV

— Mr. ฿ackwards (@Coin_Shark) January 17, 2018

The greatest tip I've seen this week comes from FullBeerBottle, who may or may not be an actual bottle of beer. Not quite sure on that one.



Those of you out there that did not follow the advice posted on SlashGear earlier this week – good job! Nothing posted on SlashGear should be considered financial advice, ever, so not following advice is the same as simply reading the news we post! Nothing any reader does before, during, or after reading SlashGear is SlashGear's responsibility. You go nuts on your own watch!



Above you'll see the wise words of Neeraj A, who gives us a short video of a raccoon trying to wash sugar, salt, or snow in some water. That's just like putting money in Bitcoin, watching it fall in value, then trading the value-less Bitcoin back into USD before it rises in value once more. It's just nonsense! Next is word from Daagle.



Daagle makes the most convincing argument I've seen yet for this drop in value's inevitable reversal. Look at the graphs. Just LOOK at them.


I) Low of the Cloud has been a great bottom indicator

II) Bearish TK crosses usually recross soon after if there's bullish continuatiuon

III) We have a bearish cross *AND* a close below 1D Cloud support

IV) Condition for bullish cont. violated pic.twitter.com/B4ggJygHCX

— CryptoCred (@CryptoCred) January 17, 2018

Above you'll see some advice from CryptoCred you might want to follow. But don't take my advice. Just know that the sharks are swimming below. Sharks seek blood, and profits they shall reap. Make your moves and bide your time!

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