50% down from its high in December. People are comparing it to previous 20-30% corrections, but 50% is very different. This reminds me of the Mt. Gox crash, but there doesn't seem to be a clear indicator of what's driving this.
2 - 10 - 5 - 20 - 10 - 40 - 25 - 100 - 50
when it crashed to 50 from 100 in 2013? 2012? i really wanted to buy 10 of them as i had observed the pattern for a long time. wish i had. oh well.
so clearly now it's going to rise to ~40k (kidding)
You will transfer a hell of a lot less wealth today than last week - what a great method of transferring wealth!
The difference here is that it doesn't appear to be driven by any big event such as a major exchange collapsing. Possibly the Bitconnect crash is to blame, but who knows.
For me, it feels like Bitcoin has reached peak awareness so it's going to be more and more difficult to bring new people in, especially as a lot of people get burned on this crash.
It makes me kind of sad that /r/Bitcoin is all religious HODLers posting pictures of lamborghinis. Would be nice if there was actual interest in or use of the technology.
Unless you were being cheeky and saying its going to zero, in which case... I think its probably worth more than zero.