Why did bitcoin crash in 2013 and why hasn't it crashed yet?

>>2116283
mt. gox and pboc and it was way more infant back then, volatility is at an ATL rn

>>2116283
People haven't realized that the Chinese government has nationalized the miners yet.

2013 happened because of pure speculation.

>>2116304
This and also the fact that countries are falling apart right now and their people are hiding their money in crypto. Looking at you Venezuela and Brazil.

Bubble popped and everyone panicked when the gains stopped. I sensed it and made it out with profit.

>>2116283
It rose that high but it was actually on relatively low volume. No one was left to buy the dips.

Now there's 100,000s of more people trying to get in and buying dips.

>>2116335
>Now there's 100,000s of more people trying to get in and buying dips.

Where were they 3 months ago?

>>2116356
Buying ETH

>>2116283
It was really hard to buy.

$2000

biggest exchange vanished off the face of the earth with everyone's money

2013 was a pure speculative bubble. There was a confluence of factors: The Silk Road takedown, Coinbase, new crypto millionaires, Andreas videos on YouTube, human interest stories in the news describing bitcoin, new millionaires, Charlie Shrem's arrest. Normies started noticing. I was one of them.

The bubble started deflating, and then Gox. People literally thought Gox was the end of Bitcoin.

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>>2116283

>Why did bitcoin crash in 2013 and why hasn't it crashed yet?

Major exchange crashed and everyone ran for the exits only to find there was not enough cash to cover withdrawals.

Same thing will happen this year when Polo's USDT scam backfires.

Get ready for buying opportunities.

>>2116283
Gox fucked over everything and burned investors out of millions.

>>2116776
>>2116786

tHANKS for share, this will be very sefull in the next dip, how sad we are poor and we can only throw a couple of dlls

>>2116283
Legislation and lies from USA gov so our rich elite bankers and their buddies could get in at a cheaper price. No lie

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>>2116929
>What if the gov hacked mt gox
Mfw

>>2116971
mt gox was so retarded the gov didn't need to intervene.

>>2116283

more than one major exchange got hacked and had all coins stolen

>>2116929

You're a delusional idiot.

Go back to /x/.

MT Gox, Mintpal, Cryptorush, Walletbuilders, FUD of Chinese owtlawing BTC, Silk road, DPR's BTC getting dumped by abc gang, introduction of ICOs(cryptonoobs, research stackcoin for lulz)..... the list goes on.
It has survived a lot of shit, even if you hate it, you should respect it. It is an idea that people can believe in, something that fiat doesn't offer.