What was going on during the 2018 crash bottom? Were exchanges going bankrupt? was china banning bitcoin? refresh my memory #crash #bottom #exchanges #bankrupt #china #banning #bitcoin #refresh #memory


What was heading on all through the 2018 crash base? Ended up exchanges heading bankrupt? was china banning bitcoin? refresh my memory

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Comments (30)

  • hoosehouse Reply

    Bitconnect!!!!!

    November 12, 2022 at 3:34 am
  • MilesPower Reply

    The general state of the community was pretty bad to be honest. People simply stopped posting. Whilst there is a lot of blood in the streets right now it’s not the same vibe. People are interested and discussing what’s going on and there’s a lot of activity all across the web whereas 2018 it was DEAAAAD. A lot of people, myself included, simply closed the charts, stopped visiting bitcointalk/reddit and got on with our lives.

    Bitcoin twitter is popping off right now. That’s the complete opposite of 2018.

    November 12, 2022 at 3:34 am
  • 1fastdak Reply

    Nothing much. We just kept bumping off a $6000 floor and most thought that was it. After awhile it just finally broke and lots of people panicked. I also remember lots of buying which was strange as the price was dropping. There was one particular wallet that was growing 200 coins a day once went below 5,000. Wish I had the address to see if they were still there.

    November 12, 2022 at 3:34 am
  • HoleCollector Reply

    It was just another Bitcoin clearance sale.

    November 12, 2022 at 3:34 am
  • Surfingtheseas Reply

    Ah forgot about the old meme about China banning bitcoin for the 30th time

    November 12, 2022 at 3:34 am
  • Mark_Logan Reply

    While this doesn’t answer your question…

    I have a theory about the 2017/18 bull-run and what caused the run up. From the start to the end of the run, we consistently saw that QuadrigaCX had higher prices for selling coins than any other exchange. During this time we also know through court documents, that Gerald Cotten (CEO of QuadrigaCX) had created various accounts that were “buying” coins on the books in order to fund riskier and riskier positions on other exchanges, as well as to fund his lavish lifestyle.

    My theory is that, as he bought more and more coins on QCX, other people were buying coins off of other exchanges and making profit using the arbitrage created by the higher prices at QCX. This had the effect of raising the prices across the board. Just look at the volumes of any exchange during that period compared to the most recent bull run. It’s unreal!

    But the further into the bull run we got, the slower the payouts became from QCX as they no longer had any money to pay people asking for wires. Once the fiat movement slowed down, the price started to lower and then, crash.

    After that, a lot of peoples confidence was shaken for a long while, and for good reason. At least now we have stable, above board exchanges that don’t risk customers funds.

    Right guys? Like… we fixed that right? Oh boy…

    November 12, 2022 at 3:34 am
  • BusinessBreakfast3 Reply

    Boring few months followed by a 50% dump and a few more months sideways action.

    Everything was better since then.

    November 12, 2022 at 3:34 am
  • SoohillSud Reply

    BEEEEEEETCONNNNNEEEEECCCCCTTTTTTT

    November 12, 2022 at 3:34 am
  • revanyo Reply

    That was the BSV vs BCHABC wars

    November 12, 2022 at 3:34 am
  • Azcrael Reply

    Yes a number of exchanges went out of business at that time or shortly after. I personally had funds lost in a few of them.

    November 12, 2022 at 3:34 am
  • BTCMachineElf Reply

    I’m pretty sure it had to do with BCH/BSV forks and maybe some miner fud? BSV went live or something right around that date and it was a shitshow.

    November 12, 2022 at 3:34 am
  • frmrbn Reply

    Each Bitcoin cycle is accompanied by some tech fad that accelerates adoption and causes the bubble to pop because the fad itself doesn’t have the staying power that it promises. This list includes shitcoins (like the first creation of coins for every fucking reason). Then it was ICOs, which turns out are super not legal under securities laws, then it was NFTs.

    What keeps me excited about this space is trying to anticipate the next emerging tech that will cause the mania next cycle – L2s, web3 apps… something dumber with less staying power… 🤷‍♂️

    November 12, 2022 at 3:34 am
  • mathaiser Reply

    Bitcoin was dead bro.

    November 12, 2022 at 3:34 am
  • JerryLeeDog Reply

    This is the equivalent of BTC Nam.

    “Back in Nam circa 2018… they just stopped posting”

    Nope, not like today’s modern bitwarfare

    November 12, 2022 at 3:34 am
  • Hodl2 Reply

    When did China not ban Bitcoin? It was so long ago I don’t remember much but don’t recall any exchanges going under, just thousands of shitcoins dying. Come to think of it this bear market seems way worse with the Luna, Celcius and now FTX going under. Way larger cripto scams blowing up than in 2018

    And Bitcoin chugging along like a champ! Tick tock next block

    November 12, 2022 at 3:34 am
  • Pass-the-Jam Reply

    ICO scams everywhere. Tons of rug pulls and faucet scams. Basically the Wild West. This time around, it’s straight up wall street style dipshittery with way to much leverage in the system.

    November 12, 2022 at 3:34 am
  • Tuffeman Reply

    It was the btc vs bch wars. A lot of dumping by the douche Craig Wraight. China banned btc in September 2017 I think but some days later reversed it. Good times (not really). Didn’t watch any news for 2 years because I thought it was dead. Didn’t sell any though

    November 12, 2022 at 3:34 am
  • streetMD Reply

    I kept buying. That ensures a crash every time.

    November 12, 2022 at 3:34 am
  • rumforbreakfast Reply

    BCH vs BSV nonsense dragged the market down.

    November 12, 2022 at 3:34 am
  • Crypto-hercules Reply

    Basically I purchased Right around this time!!

    November 12, 2022 at 3:34 am
  • jamesbitcoin Reply

    Randomly I just received an claim form from the administrator of Cryptopia today! So yeah exchanges were going bankrupt and China was banning bitcoin.

    November 12, 2022 at 3:34 am
  • Tall_Run_2814 Reply

    CoinMarketCap has a Historical tab that’s quite interesting. 90+% of the crypto projects in the top 100 just 5 years ago are unheard of today.

    I always think about that when I hear about all these new and cool projects coming out

    November 12, 2022 at 3:34 am
  • Pregnantseaturtle69 Reply

    Bitcoin is cyclical

    November 12, 2022 at 3:34 am
  • HumanJenoM Reply November 12, 2022 at 3:34 am
  • SirArthurPT Reply

    ICO scams everywhere! Most investors just came to realize how useless ICOs were.

    November 12, 2022 at 3:34 am
  • ketoboi1 Reply

    It wasn’t this bad. It was just scam icos and bitconnect being promoted by influencers like crypto nick for the most part.

    November 12, 2022 at 3:34 am
  • reddit_user_83 Reply

    Interest rate was going up. (Although it started in 2017)

    By the end of 2018 they peaked and started coming down a few months into 2019

    November 12, 2022 at 3:34 am
  • Cruztd23 Reply

    How long did this sideways action last?

    November 12, 2022 at 3:34 am
  • psammotettix Reply

    Good time to buy ? We are in the end of the Bear market?

    November 12, 2022 at 3:34 am
  • lever200 Reply

    Yes and Yes

    November 12, 2022 at 3:34 am

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