Bitcoin slips under $ 6,000 as it resumes course – Here are the horror stories

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Bitcoin gave up support above $ 6,000 and fell below the waterline for the second time in 2018, and cryptocurrency investors – including those who entered the ether and ripple – shared their stories of misfortune

The price of bitcoins had previously fallen below the psychological threshold of $ 6,000 at the end June but has rebounded back – and while many hope investors who hastily bought bitcoins and other large cryptocurrencies at the end of last year.

Bitcoin, still the most precious currency in the world, has lost 6% of its value in the last 24 hours, according to CoinMarketCap date starting from & nbsp; maximums of almost $ 20,000 in mid-December.

The bitcoin price had held about $ 6,000 up to this evening. CoinDesk

Meanwhile, ethereum, which trades through token ether, has lost a whopping 17% in & nbsp; 24 hours fell to around $ 290 – the first time that ethereum was under $ 300 this year

Ripple decreased by 14%, while litecoin fell by around 12% in the last 24 hours.

The total market capitalization of all cryptocurrencies has fallen below $ 200 billion, the lowest (yet) of 2018, and declined by over $ 800 billion in January

Among the sell-offs those who bought bitcoins , ethereum, ripple and other great cryptocurrencies at the end of last year have shared their stories on the link aggregation site Reddit – one of the most popular online sites to discuss the fortunes of bitcoin and crypto. These posts can be found in r / cryptocurrency subreddit which has about 700,000 subscribers.

I've taken some of the key takeaways here but I encourage you to check out their full posts. The advice, lessons learned and comments of other users suffering in the disaster are often insightful and interesting.

User Reddit u / hgoddyn & nbsp; has created a post titled: & nbsp; Funnier than I've ever lost money. Down $ 25,000 in crypto

"I joined criptos at the end of January. I took a bit of bitcoin early enough to ride the last wave and I showed up, I bought a a bit more at the top and I entered the monsters, and I made some nice exchanges during the descent, "the Reddit user, who says they are using a different account from the primary one, writes.

"Put out $ 25,000 in total, spread out pretty well, I thought – no more than I could afford to lose, I thought …"

Reddit user u / TheVapingBison created a post titled: Well, it actually happened [19659003] "Today I reached the point of no return where I could no longer get the most cryptographic actions since I considered all the transactions considered net, "wrote the Redditor. "I honestly did not believe that the alt market (at least the non-shitcoin part) would ever hit these levels." Well, I can only think of one thing to do – it's time to double down. "Either winning big or going down with the ship. "

User Reddit u / iconwolf7897 created a post titled: & nbsp; He invested $ 15,000 in cryptography …

" My first purchase it was LTC [litecoin] to $ 300 in December 2017. Fortunately I bought only two coins, "the user Reddit wrote." So, after some research, I made my second purchase and got money in bitcoins to $ 2,000, this seemed like a breeze. I saw it was $ 4,000 +, so I thought that at $ 2,000 it was a bargain. I left $ 5,000 … "

" The good thing is that I have a regular job so I'm not hurting or I need my coins to go to the moon to pay the bills … if moons like, if no, at least I gave a shot. "

Reddit user u / Crypthomie & nbsp; created a post in which they share an & # 39; image of their bank statement (with information redacted identifiers) & nbsp;

"Here is my installment on the loan I took to invest in the crypt," wrote the Redditor. "Three and a half years before being released. Until then, I am working for nothing and I am at a loss of 85%. I hope you give a lesson. "

One of the best posts on the r / cryptocurrency website in the writing time is details of the US National Suicide Hotline and how to get in touch with people who can offer advice and resources. & Nbsp; The number is & nbsp; 800-273-8255, among others.

Reddit user u / A_Internet_Stranger who created the post, wrote: "The hardest hit people are a of the following: Newcomers, Margin traders or Day Traders (and those of Bitconnect). The vast majority of people who have been detained for more than 60 days are still green. "

Why is the bitcoin and cryptocurrency sell-off?

The sell- current that is going through the world of cryptocurrency has been attributed to investors, who in the past year have accumulated initial offerings of coins (ICO), often using the blockchain ethereum, saving.

Like many hundreds of ICO launched on the blockchain ethereum, he pushed up the price of the ether and with it many other large ones cryptocurrency.

Underlining this decline for investors, a report by the analysts of ICORating found the return on investment (ROI) on ICOs in the second quarter of the year's quarters was equal at -55.38%, down from an ROI of 49.32% in the first quarter

Nonetheless an increase in both the number of ICO and the total collected in the quarter.

Meanwhile, bitcoins and others cryptocurrencies gathered in July on hopes nze t a fund traded with bitcoin exchange (ETF) would be approved in August by the US Securities and Exchange Commission, a delay in the decision until September took the wind from the sails of investors.

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Bitcoin left its support above $ 6,000 and fell below the waterline for the second time in 2018, and cryptocurrency investors – including those introduced to ethereum and ripple – shared their stories of trouble.

The bitcoin price previously fell under the psychological mark of $ 6,000 at the end of June but rebounded – and while many hope it will return, fear has attracted investors who hastily bought bitcoins and other big cryptocurrencies at the end of the day. Last year.

Bitcoin, still the world's most valuable currency, has lost 6% of its value in the last 24 hours, according to data from CoinMarketCap, dropping from peaks of nearly $ 20,000 in mid-December.

The bitcoin price had held back about $ 6,000 until this evening. CoinDesk

Meanwhile, ethereum, which trades through token ether, lost a whopping 17% in 24 hours and fell to around $ 290 – the first time ethereum was under $ 300 quests # 39; year

Ri pple is down 14%, while litecoin has been down 12% in the last 24 hours.

The total market capitalization of all cryptocurrencies has fallen below $ 200 billion, the lowest (yet) of 2018 and down from a maximum of over $ 800 billion in January,

Among the sellers who bought bitcoins, ethereum, ripples and other large cryptocurrencies at the end of last year shared their stories on the Reddit link aggregation site – one of the most popular online sites to discuss the fortunes of bitcoin and crypto. These posts can be found in the subreddit of r / cryptocurrency, which has about 700,000 subscribers.

I've taken some of the key takeaways here but I encourage you to check out their full posts. The advice, lessons learned and comments of other users who also suffer in the routine are often insightful and interesting.

The user of Reddit u / hgoddyn created a post titled: More fun than I ever lost money. Down $ 25,000 in crypto

"I joined Cryptos at the end of January.I took a bit of bitcoin early enough to ride the last wave and come boosted, I bought a little 39; more at the top and I joined alts, and I did a little "The user of Reddit, who claims to use an account other than the main one, writes.

"Put $ 25,000 in total, distribute pretty well, I thought, no more than I could afford to lose, I thought …"

Reddit user u / TheVapingBison created a post titled : Well, it actually happened

"Today I reached the point of no return where I could not get so much fiat out of my encrypted participations because I have all the transactions considered clear," wrote the Redditor. "I honestly did not believe that the alt market (at least the non-shitcoin part) would ever reach these levels. Well, I can only think of one thing to do. Time to double. I'm winning big or going down with the ship. "

Reddit user u / iconwolf7897 created a post titled: Investing $ 15,000 in encryption …

" My first purchase was LTC [litecoin] to $ 300 in December 2017. Luckily I bought only two coins, "wrote the Reddit user." So, after some research, I made my second purchase and got some money in bitcoins for $ 2,000, which I thought was child's play. I saw it was $ 4,000 +, so I thought $ 2.000 was a bargain, I lost $ 5,000 … "

" The good thing is that I have a regular job so it does not hurt me for money or I I need my coins to go to the moon to pay the bills … if moons like, if not, at least I

Reddit user u / Crypthomie has created a post in which they share an image of their bank statement (with identifying information drawn up)

"Here is my loan installment linked to the loan I have taken to invest in crypt, "wrote the Redditor." Three and a half years before I get released. Until then, I am working for nothing and I am at a loss of 85%. I hope you give a lesson. "

One of the best posts on the r / cryptocurrency website at the time of writing is the details of the US Hotic Suicide Hotline and how to get in touch with people who can offer advice and resources The number is 800-273-8255, by the way .

Reddit user u / A_Internet_Stranger, who created the post, wrote: "The most affected people are one of the following: Newcomer, Margin Trader or Day Traders (and those in Bitconnect). The vast majority of people who have been detained for more than 60 days are still green. "

Why are bitcoin and cryptocurrency sales fading now?

The sell-off currently swept through the world of cryptocurrency has been blamed by investors, who last year piled up in the initial coin offerings (ICO), often using the blockchain ethereum, saving.

Like many hundreds of ICOs launched on the blockchain ethereum, it has pushed towards the high price and with it many other major cryptocurrencies. [19659003] Underlining this decline for investors, a report by ICORating analysts found that the return on investment (ROI) of ICOs in the second quarter of this year was -55.38%, down from at an ROI of 49.32% in the first quarter

Nonetheless an increase in both the number of ICOs and the total collected in the quarter

Meanwhile, bitcoins and other cryptocurrencies recorded a rise in July on the hope that a bit coin-swapped backed exchange fu nd (ETF) would be approved in August by the United States Securities and Exchange Commission, a delay in the decision until September took the wind from the sails of investors.

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