This is crypto logic. In 'real' stocks this will be called a collapse for today or at least an extremely wild ride.

I wonder how much technical analysis can be done to predict this.

Just HODL!

> This is crypto logic. In 'real' stocks this will be called a collapse for today or at least an extremely wild ride.

It is a wild ride. The reason this is a correction and not a collapse can be easily understood if you zoom out your charts enough so that you can see the ancient times of November 2017.

It's just a matter of volatility. If a stock drops by 15-20% once a month, a correction is not called a collapse. If it never moves more than 2-3% per day, a 15% drop causes panic.

BTC is by far the most volatile asset at the moment (excluding other crypto currencies and some exotic real currencies). I think the reason people talk about crashes so quickly is that no one has a clue what's going on. Is it a broad-based move? Is it a few speculators? Is it a conspiracy? For stocks, at least the regulator knows very quickly who sold and if there's something fishy going on. For BTC, no one knows which makes it more confusing.

Indeed, I wouldn't call a change 15K -> 13K a collapse.

according to reuters, "Bitcoin extends slide to trade down 18 percent on day at $11,191 on Bitstamp Exchange, on track for biggest one-day fall in three years" - so, pretty significant move.

it was 1K at the start of last year so yeah this years bubble will probably burst.

I'm suspicious of growth curves that are still supra-linear when plotted in log scale...

There are a bunch of coins that lost over 20% in 24h, and the 7d-situation looks even worse with even huge coins like Ripple taking a 45% drop in value.

48 now. Ripple's being hit hard.

Ripple was way overvalued, it was intended to be about $1.

The creators have also pretty much premined or own all the "coin".

They even warned people on the Ripple website not to speculate on it.

Below 11.5k now and picking up speed.

Picking up speed... upwards? At the moment you posted it turned around, and 31 minutes later it's at 11.9k.

Trying to read this short-term things is uninformative.

Oh, in the time I typed the sentence above it went from 11.94k to 11.99k.

Yep, it might have bottomed out.

Or maybe it’s a dead cat bounce. It’s amusing either way.

I've just made a bet it's dead cat bounce. Let's see how it goes.