[2019-07-01]Bitcoin’s Pullback Below $10,000 Positive For Investors

Naida_BR

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Quote from: ppblockchain on July 01, 2019, 03:49:51 PM

Bitcoin prices fell to less than $10,000 today, down close to 30% from their recent high of nearly $14,000 reached on Wednesday, June 26th.

The digital currency dropped to $9,986.26 at roughly 11:40 EDT, CoinDesk data shows.

At this point, the cryptocurrency had declined approximately 28% from its price of $13,879.24 on June 26th, additional CoinDesk figures reveal.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Read more : https://paperblockchain.com/bitcoins-pullback-below-10000-positive-for-investors/

Seems normal to me as we faced a huge and sudden increase from 5k and then.
We were to see this correction in the price but this happened very sharp that puzzled investors. In my opinion the same is going to happen every time that we reach a new high level as there are many people who wait to exit the market with small profits.

1Referee

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Quote from: Betwrong on July 02, 2019, 03:49:17 AM

But, on the other hand, it could be just a dent on the way up. After all, we haven't seen a new ATH yet, and we know from history that Bitcoin always surpasses its previous ATH, when after a long bearish time interval it starts rising like that what we witnessed recently.

Yes. People complain about the price going up too high too fast, but this is the sort of thing you want to see after a bear market. Bitcoin always corrects back to more appropriate levels before heading back up again, but these are usually the moments you should buy the dips, especially with how the market is trending up.

The block halving fomo hasn't even started yet, and I am strongly of believe that it will blast the price well past the $20,000 level before the last 12.5BTC block has been minted.

More bullish news; After LedgerX, the CFTC has also approved the Bitcoin backed futures by ErisX, which is backed by TD Ameritrade.

It's waiting for Bakkt now. Grin

Schirer

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Quote from: Slow death on July 02, 2019, 03:21:38 AM

The price continues to fall and when prices fall a lot analysts disappear, which makes me more irritated at all is see some analysts overstate their forecasts whenever the price goes up a lot, this guy @Simon Peters (eToro analyst) he said the next:

This common, I often go and peak at technical analysis and other ideas in trading-view. I have learned that these so called analysts most often, just make some kind of analysis with different outcome from each other, it seems that they just want the clicks.

But there is one guy there which was spot on with his prediction to 13,800 USD, now he explored the idea of BTC retracing to 3k again. Dont want to market him here, if anyone want to check that out, he will be easily found on the site i mentioned.

hatshepsut93

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Now is a good chance for anyone still waiting to get into Bitcoin, and for those who already bought - buy more. In a few weeks, or maybe even days, people will be regretting for not buying now, while today they think that lower prices or even a bear market can happen. In truth, big corrections are quite common after big price rallies, those who hodled for a few years already now it and don't panic much.

BitHodler

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Quote from: Betwrong on July 02, 2019, 03:49:17 AM

In such times it's always interesting how people will react to the decline. They might think that it was just a start of a greater decline.

People don't change.

Price at $13k = oh I wish I bought at $10k.
Price at $10k = I think we have more room to the down side.
Price at $8k = experts are right, we're going back to $3k.

People have always been riding the sentiment where they buy whatever it is that goes up and dump or don't touch whatever it is that goes down. It has been like this in the stock market for decades.

The mass is such a great counter indicator that it pays off trading against them. If they just held their coins instead of speculating with them they would do well, but even that is too difficult for them. It's just retarded.

Betwrong

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Quote from: Kemarit on July 02, 2019, 02:13:19 AM

I guess it is to be expected, I mean correction is due when we hit that $13000 price. It will be interesting to see though what will be the pull back price. A lot of speculators are pointing out that around $8600-$9000 but that is just a wild guess. Now investors or newbies can take this opportunity once more, a healthy retracement that could push the price to the next barrier of $15000 so let's see if we can do it.

In such times it's always interesting how people will react to the decline. They might think that it was just a start of a greater decline. But, on the other hand, it could be just a dent on the way up. After all, we haven't seen a new ATH yet, and we know from history that Bitcoin always surpasses its previous ATH, when after a long bearish time interval it starts rising like that what we witnessed recently.

Slow death

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Leading Crypto Sports Betting & Casino Platform

The price continues to fall and when prices fall a lot analysts disappear, which makes me more irritated at all is see some analysts overstate their forecasts whenever the price goes up a lot, this guy @Simon Peters (eToro analyst) he said the next:

Quote from: https://cointelegraph.com/news/hodlers-digest-june-2430-top-stories-price-movements-quotes-and-fud-of-the-week

BTC could return to its all-time high of $20,000 within one to two weeks, while $50,000 to $100,000 could be achievable by the end of 2019

now the price is falling a lot and I do not think we will see more than $11000 so early, but this guy @Simon Peters made an exaggerated prediction and he is an analyst, I wonder who would trust his money to him?

Kemarit

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I guess it is to be expected, I mean correction is due when we hit that $13000 price. It will be interesting to see though what will be the pull back price. A lot of speculators are pointing out that around $8600-$9000 but that is just a wild guess. Now investors or newbies can take this opportunity once more, a healthy retracement that could push the price to the next barrier of $15000 so let's see if we can do it.

milewilda

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Quote from: ppblockchain on July 01, 2019, 03:49:51 PM

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

This is a common disclaimer line and 28% drop is just an another normal day here on crypto market.We cant just see for the price to shoot up continually and there would
always a pullback and for those wise investors or traders will eventually make those profits by selling on possible peak price and buying in once again when the price had gone down.
Just repeat the process and viola,easy profits for those people.

ppblockchain

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Bitcoin prices fell to less than $10,000 today, down close to 30% from their recent high of nearly $14,000 reached on Wednesday, June 26th.

The digital currency dropped to $9,986.26 at roughly 11:40 EDT, CoinDesk data shows.

At this point, the cryptocurrency had declined approximately 28% from its price of $13,879.24 on June 26th, additional CoinDesk figures reveal.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Read more : https://paperblockchain.com/bitcoins-pullback-below-10000-positive-for-investors/

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