With Bitcoin and most other cryptocurrencies on their way down again, the crypto community has taken to Twitter to express their feelings on another day in red. Bitcoin is now trading below $3500, back to the levels of mid 2017, and Ethereum has been hit even harder, trading for $87,6 at the time of writing.
Part of Crypto Twitter focuses on the steer drop of Ethereum during this new leg in the huge retracement of the cryptocurrency market.
Remember when .1 $ETH was $100+?— 🤘 Nye The Crypto Guy 🤘 (@CryptoShillNye) December 7, 2018
Now it’s less than $10....
...Crazy times. 😮
$ETH at $82.50? Is it dead?— 🤘 Nye The Crypto Guy 🤘 (@CryptoShillNye) December 7, 2018
I really don’t believe ETH is dead, but I do think it was heavily overvalued all year.
And with the state of the ICO market being completely stagnant, it will need to find a strong use case sooner than later.
What’s your bottom call for ETH? pic.twitter.com/PWoowRucU5
I remember being in Tokyo when $ETH pumped to $40. I had reluctantly bought some on Plebbase for $10 cause its leader was a malnourished autist.— Zissou™ (@ZeusZissou) December 7, 2018
I was convinced it was an overpriced fraud-facilitating shitcoin then. Wasn’t wrong tbh af. Would I buy again at $10 in 2019?
Read more: Is Bitcoin dead? 8 reasons why it is NOT
Hodlers are having mixed emotions...
Even though I went through the 2013 crash like a warrior...— Coindorado (@coindorado) December 7, 2018
..this one is getting intense.
Where is the damn bottom ?!
#Crypto— CryptOrca (@CryptOrca) December 7, 2018
Shoutout to those still standing after last nite
I guess we can now safely say that HODL is not a great strategy! 😊— Ran NeuNer (@cryptomanran) December 7, 2018
Another big headline today is the fact Bitcoin Cash dropped to a double digit for the first time in history, with fork Bitcoin SV even overtaking BCH for a short moment during the crash.
For the first time in history, the price of Bitcoin Cash dropped to a double digit.— Joseph Young (@iamjosephyoung) December 7, 2018
On fiat-to-crypto exchanges like Coinbase and Bitstamp, BCH fell to $94. Absolutely brutal market. pic.twitter.com/nhYLz8KjL8
Read more: 9 Bitcoin price predictions for 2019 by crypto experts
Analysts are coming out as well, with trader Peter Brandt compiling a list of new bear market low closes for pretty much every top coin.
Dive, Dive, Dive. Bitcoin $3,400, Ethereum $92, Litecoin $26. The $3,000 level around the corner. I am not playing the bounce, if there is one.— Tyler Jenks (@LucidInvestment) December 7, 2018
I hate being the bearer of such good news:$BTC - new bear market low close$ETH - new bear market low close$LTC - new bear market low close$BCH - new ATL$EOS - new bear market low close$XLM - new bear market low close— Peter Brandt (@PeterLBrandt) December 6, 2018
VIDEO: Where will Bitcoin bottom out?