A big old correction going on... | Bitcointalksearch.org

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: richardsNY on June 28, 2017, 03:56:42 PM

Quote from: BitHodler on June 28, 2017, 03:02:59 PM

China is no longer the important factor as they were before the regulations that have been put in action by the PBOC.

In reality, they just fooled everyone into thinking they were really that important to Bitcoin -- it was one big theater show. It was insane how they were trolling the entire markets there with daily volumes of 2-4 million traded coins per exchange (referring to Huobi, OKCoin, BTCChina). I am glad that the market gets dominated by western exchanges again. Thank you PBOC.

I agree with that

In fact, this is what I wanted to write myself, namely, that they tricked us into thinking that they were somehow important with their insane volumes. To be honest, this is what I claimed myself back then giving the numbers of their daily trading volumes which had been by far exceeding those of the rest of the pack (Bitstamp, Btc-e, Bitfinex, to name a few). It turned out that their real volumes were a lot less (if not to say orders less). If things were like that with Bitcoin mining, China would be completely out the picture

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: richardsNY on June 28, 2017, 03:56:42 PM

Quote from: BitHodler on June 28, 2017, 03:02:59 PM

China is no longer the important factor as they were before the regulations that have been put in action by the PBOC.

In reality, they just fooled everyone into thinking they were really that important to Bitcoin -- it was one big theater show. It was insane how they were trolling the entire markets there with daily volumes of 2-4 million traded coins per exchange (referring to Huobi, OKCoin, BTCChina). I am glad that the market gets dominated by western exchanges again. Thank you PBOC.

Whether it was a show or not, China basically ruled the market with iron fist for quite a long time.

I remember how everything was looking all right just before I went to bed, and as soon as I woke up in the morning, a big fat red candle took the price significantly down again due to certain Chinese related "news".

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: BitHodler on June 28, 2017, 03:02:59 PM

China is no longer the important factor as they were before the regulations that have been put in action by the PBOC.

In reality, they just fooled everyone into thinking they were really that important to Bitcoin -- it was one big theater show. It was insane how they were trolling the entire markets there with daily volumes of 2-4 million traded coins per exchange (referring to Huobi, OKCoin, BTCChina). I am glad that the market gets dominated by western exchanges again. Thank you PBOC.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: alyssa85 on June 28, 2017, 11:36:51 AM

Don't forget China! There is always some sort of China FUD when the whales want to move prices.

China is no longer the important factor as they were before the regulations that have been put in action by the PBOC.

Chinese fud had a significant impact on the market back then, but right now it won't do much anymore. Right now all people focus on how things will play out before the 1st of August. Everything else is simply not important for now.

jc89

sr. member

Activity: 364

Merit: 250

Quote from: rhyso on June 27, 2017, 09:19:54 AM

Just saying...

Where will it stop?

Somewhere down the road.

I think this is not a typical correction happening. the drops may be caused by some people who panic sell because they are scared about Bitcoin crashing due to the uncertain effect of the activation of Segwit. And include the fact that we are on a bear market. As for the current trend of Bitcoin, it is slowly recovering and I do not know if a drop will occur again. We are approaching Australia since it's only days before their formal acceptance of Bitcoin.

digaran

copper member

Activity: 1330

Merit: 899

🖤😏

Nope, there is no such a thing as correction in crypto, people just are busy pumping alts and they also need Bitcoin to be some what stable to determine the true price of alts in BTC volume, in other words, large whales are at work, just look at the charts they are all like a man with a boner up and green, top gear aiming for the moon's holes. lol
I don't know what is there to correct? you either buy or sell, crypto is not that big yet like traditional markets to have correction, anyways who is supposedly doing the correction? we don't have a central bank.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: Denker on June 28, 2017, 10:35:58 AM

Quote from: BTCLovingDude on June 28, 2017, 05:08:19 AM

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

In a couple of weeks SegWit will be locked and activated shortly after.
So IF there should be more FUD to come, it has to come NOW!
Anything else makes no sense and won't have any major negative effect on the price.
Next time we will see FUD is when it is about the 2x hardfork attempt ( what is 8MB! by the way) by Shilbert Group and Jihan!

Don't forget China! There is always some sort of China FUD when the whales want to move prices.

Duzter

sr. member

Activity: 1092

Merit: 256

Leading Crypto Sports Betting & Casino Platform

Quote from: Quadast on June 28, 2017, 09:50:43 AM

Quote from: hubballi on June 28, 2017, 08:04:34 AM

I think the recent correct was around 400$ and it took suppor near 2300+ range and now it is back to #2600+ price and if the wave continues then tomorrow we can see the price of bitcoin going above 2700+ right now and if the movement support more then surely within 48 hrs we will see the bitcoin price moving above 3000+ price range with full support.

It seems to me that you depend on Bitcoin on the users themselves, because we know that the market reacts to supply and demand. Only in these variants we can see a good correction of the price for Bitcoin.

There is several corrective factors. One is that stated by you and apart from that scalability, blocksize, confirmation issues and several things were going on. So this might be a corrective time, because the past price fall itself mentioned to be happening for a correction.

lionheart78

legendary

Activity: 2982

Merit: 1153

Quote from: BTCLovingDude on June 28, 2017, 05:08:19 AM

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

Yeah I had observed that too. It seems BTC loves being around $2500. It is been in that range for sometime now. And I also agree that if whales decided to FUD (which I think they already in the process of FUD'ing Bitcoin market) the price has a lot of room to go down but lucky there is a counter FUD this coming July which is the recognition of Australia to bitcoin as money. This event can possibly have a nullifying effect to FUD that is being spread recently to the bitcoin market.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: BTCLovingDude on June 28, 2017, 05:08:19 AM

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

In a couple of weeks SegWit will be locked and activated shortly after.
So IF there should be more FUD to come, it has to come NOW!
Anything else makes no sense and won't have any major negative effect on the price.
Next time we will see FUD is when it is about the 2x hardfork attempt ( what is 8MB! by the way) by Shilbert Group and Jihan!

Gotottack

hero member

Activity: 882

Merit: 506

Quote from: rhyso on June 27, 2017, 09:19:54 AM

Just saying...

Where will it stop?

It just did, I don't think it will go down any further. This is the quiet before the storm that usually happens in the bitcoin prices. You can check out the historical data of bitcoin prices. There is always a point that it goes up pretty quick and drops by 20% then this is the quiet before the storm I was talking about. Currently, it is stabilizing at 2400-2600 levels and it could go up in the next few weeks again.

Quadast

member

Activity: 106

Merit: 100

Quote from: hubballi on June 28, 2017, 08:04:34 AM

I think the recent correct was around 400$ and it took suppor near 2300+ range and now it is back to #2600+ price and if the wave continues then tomorrow we can see the price of bitcoin going above 2700+ right now and if the movement support more then surely within 48 hrs we will see the bitcoin price moving above 3000+ price range with full support.

It seems to me that you depend on Bitcoin on the users themselves, because we know that the market reacts to supply and demand. Only in these variants we can see a good correction of the price for Bitcoin.

susila_bai

hero member

Activity: 1260

Merit: 524

Quote from: lumeire on June 28, 2017, 08:34:34 AM

Quote from: BTCLovingDude on June 28, 2017, 05:08:19 AM

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

Let's see how long $2500 can hold up. It looks to me once this level is broken it may go down easily at the $2000s again.

Recently it broked and went down till $2300 range and then now it bounce back to $2600 range but still it is not able to cross it above that and if it roam around this price for next some days then i think we can see the price moving above $3000 price.

lumeire

legendary

Activity: 1848

Merit: 1009

Next-Gen Trade Racing Metaverse

Quote from: BTCLovingDude on June 28, 2017, 05:08:19 AM

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

Let's see how long $2500 can hold up. It looks to me once this level is broken it may go down easily at the $2000s again.

Sludjo

newbie

Activity: 7

Merit: 0

If the past is any guide, I think bitcoin will drop for a third consecutive consolidation within the next few days, probably bottoming out around 2000-2100 range before starting another gradual summertime climb. Trading in the 2400-2500 range is lala land to get NOOBs to buy in. ; ) Happy trading all!

hubballi

sr. member

Activity: 882

Merit: 297

I think the recent correct was around 400$ and it took suppor near 2300+ range and now it is back to #2600+ price and if the wave continues then tomorrow we can see the price of bitcoin going above 2700+ right now and if the movement support more then surely within 48 hrs we will see the bitcoin price moving above 3000+ price range with full support.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: TravelMug on June 28, 2017, 03:55:20 AM

Quote from: Pearls Before Swine on June 27, 2017, 10:23:04 PM

Quote from: ?? on ??

Looks like its crashing.

What? We freaking dipped to just about $2300, and that's not bad by any yardstick you use. Keep things in perspective; we were below $1000 not too many months ago, so these type of corrections are natural and needed. Nothing for all you girls to get upset about. There's going to be more of this, so strap in and get a helmet if it makes you feel better.

The price is up now at $2500. I think the crash or dip is already done. Again, its another short live dip. Investors saw the opportunity to buy bitcoin again that's why the price has recovered. I think we have seen this already once in May and twice already in June. So for those who didn't panic, I guess you are happy to see the price has rebound already

I wouldn't be so sure of that

Predictions are futile, but it seems that Bitcoin will have to break through plenty of resistance if it decides to go over 2,500 dollars (I look at Bitfinex prices, just in case), and still more so if it goes over 2,700 dollars per coin. That figure seems like today's Bitcoin limit (given the circumstances). On the other hand, there's plenty of room to go down. There would be some support at and around 2,000 dollars, but I don't think that it will last for long if Bitcoin is going to crash for real (so far we haven't yet experienced such a crash)

TrumpD

sr. member

Activity: 602

Merit: 265

A major correction? I doubt that is what this is. The price has always been up and down. Off course, no one knows the future, and predictions based on past performance are often wrong. But the amounts involved now makes losses feel enormous, as bitcoin is valued in the thousands now. The percentages are still the same as when it was valued between $250 and $400. In the future when the price is is around $20/25k, thousands will be wiped off in few hours due to "corrections".

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

buwaytress

legendary

Activity: 3010

Merit: 3724

Join the world-leading crypto sportsbook NOW!

I sold a small amount today, 0.1 BTC, when I'd planned to do it yesterday. Real life needs, what can we do, huh? The 24-hour wait seems to have been worth it as I got about $25 more today than I would have yesterday. Big old correction may not be over so quickly, but there's a lot of life left at this mid $2,500 stage.

Topic: A big old correction going on... (Read 1903 times)