> 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.
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.
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.
