A price correction is happening now - page 3.

RoommateAgreement

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Bazinga!

Quote from: surix on May 12, 2017, 02:52:42 PM

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

price went up too fast, it should have came down. the correction always happens just like how the rise always happens. there is nothing stopping that. we just need to be ready to buy at the bottom before the golden opportunity fades away.

just like the $800 earlier this year, this dip will end soon too. and next target will be $2200 this time.

Paya

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Quote from: Hazir on May 12, 2017, 05:35:43 PM

Quote from: Paya on May 12, 2017, 03:32:42 PM

I do hope we can keep our nose above 1200 level. Less than that would be bad. Like, 2013. bad. Almost.

I hate damn bubbles.

It's not a bubble, it is real, organic growth caused by increased demand in Japan. In 2013 we had totally artificial bubble created by Mt.Gox and Chinese leverage speculators.

Price of BTC won't crash this time, we will have normal correction, and then BTC will resume bull run. It is a high chance that we will see $2000 sooner that we thought we would.

Mechanics is different than before, I agree, and numbers are overall less dramatic, but after this crazy bull run psychological effect (of the roll back to or even below 1000) would be nearly the same. You know how it goes - lot of people lose money and leave disappointed, mainstream medias spread bad news, and so on... all followed by another period of stagnation. If this happens, we won't come anywhere near stable 2000 for a very long time.

In my opinion, increased demand in Japan is purely speculative. I am not seeing well developed businesses there starting to accept btc; there are only unconfirmed rumors, FOMO, and bs. Hardly a foundation for healthy sustainable growth.

I hope that you're right, though.

BitMaxz

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I think the price of bitcoin soon will be increase again back we are just seeing huge price few hours ago almost $150 plus but the price was increase back and i think there is someone are sold their huge bitcoin in the market that is why we are experience of drop this day.. but soon hoping that the price can be increase fast..
For those who mention about $1,000 i think its impossible to happen right now because bitcoin is already been legal in japan..

JeffBrad12

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Quote from: surix on May 12, 2017, 02:52:42 PM

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

It will never below $1500

Bitcoin is having a strong support on the market. That will protect the bitcoin price from get dumping a lot by the trades. I have speculated about this. I will try to enter if there will another good news coming for us.
It may bring another bullish trend and i can take some money. $1600 is a good bottom for me.

Just put your order at the bottom and wait until the market gets panic sell. Roll Eyes

bitllionaire

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Quote from: The Sceptical Chymist on May 12, 2017, 02:58:12 PM

Well, what do you expect after jumping from $1250 to $1850 in a matter of weeks? This is to be expected. Lots of people made money in this huge pop, and people sell and take profits.

Do I think we're going to drop to $1000? No, I don't. The bullish feeling is still around, and people are just taking a breather. I don't think I'm going to be buying much at these prices, though. Yikes.

no it is not going to drop to such a low price, although the price of bitcoins is still not going take a correction but still if t willl take correction i am hopeful that its correction will not be more that 200 points.

Reid

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Same thing that happened when it reached the same price of gold.
From $1250 then suddenly going back to $900+ then back again.
All of this is now normal to me unlike before. It is just leveling itself. Maybe there have been too many people who bought it while it was increasing. Maybe now, they thought they should sell. I would not mind that movement.

Hazir

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Quote from: Paya on May 12, 2017, 03:32:42 PM

I do hope we can keep our nose above 1200 level. Less than that would be bad. Like, 2013. bad. Almost.

I hate damn bubbles.

It's not a bubble, it is real, organic growth caused by increased demand in Japan. In 2013 we had totally artificial bubble created by Mt.Gox and Chinese leverage speculators.

Price of BTC won't crash this time, we will have normal correction, and then BTC will resume bull run. It is a high chance that we will see $2000 sooner that we thought we would.
0

passwordnow

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Quote from: surix on May 12, 2017, 02:52:42 PM

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

So it did even went lower, as I check the price right now it went back to $1,726. I guess it is already a known move with bitcoin, after a pump > dump > pump so in the end after this decrease expect that the price will increase and maybe possible to $2k.

kolesozw

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The price is still holding. But if there is a correction on a horizon, hopefully it will stop at least @ 1300. And will not erase the whole record high gain. I really hate those huge swings as I cannot predict a sh*t and what to do with my coins.

1Referee

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It's not really a correction yet. If a correction kicks in, I am more thinking at levels as $1300-$1400 as being the target bottom. I have mentioned it a few times already, but the price is more or less 20% overbought. It won't take long before we see this "premium" vanish to make place for a price more appropriate to the situation we are sitting in. If you're trying to benefit from current increase as a trader - you have done good by cashing out profits over the $1800 level. If you time it right, you'll have some nice buy back opportunities ahead of you. Wink

MingLee

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Quote from: surix on May 12, 2017, 02:52:42 PM

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

That's good. We're overdue and I should have sold higher up but now I might as well ride the tiger and see what happens with the value. It might go lower by a few dozen more dollars, but I would not be super confident about this and it's more wishful thinking than anything. Going to just look for the bottom and enter with what I have tucked away.

mikenz

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Yep, just as I called it before. peak at 18XX level

https://www.tradingview.com/chart/BTCUSD/9DR3H6Bh-BTC-resistance-levels/

and that was from today morning:

https://www.tradingview.com/chart/BTCUSD/i01RiTIV-watch-this-triangle/

press the play button to see how it developed realtime after publishing.

khalized

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Markets now slid to an average low of $1,697.42, as we speak. This fluctuation is common nowadays and there is nothing to worry about, since the spike-plunge ratio seems to keep up to its knees for quite a while.

Only a month ago, when prices hovered near $1,200, we already guessed about a standardized "price correction mechanism" being on its way but since then it keeps increasing. So today's price is still not a definitive measure to be considered for price correction. However the dips should be consistent as was in the past months.

InvoKing

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Quote from: phatsphere on May 12, 2017, 02:53:40 PM

< $1000?

Wow, too optimistic out there, the duck has spoken Tongue

Would say +$1500 in my opinion, not less than that

chaser15

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Quote from: surix on May 12, 2017, 02:52:42 PM

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

Based on majority of speculation, it should land at the price rate of $1300-$1500 due to the fact that chart told this. This drop is expected as we all want to see the correction price.

Actually if anyone believes that bitcoin will probably go to $2,000 value or above this year, they can consider this price rate as starting point to buy and add accumulations of their bitcoins. The price meteoric performance of bitcoin price, IIRC, started at around $1,200 then breached to about $1,800. In this we can see that if the price will start to have some impressive performance again at $1,500, then we can expect a road to $2,000 in just few weeks. Just my own thoughts based on the given situation.

Paya

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I do hope we can keep our nose above 1200 level. Less than that would be bad. Like, 2013. bad. Almost.

I hate damn bubbles.

phatsphere

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more seriously, it will rebound a bit and then retest at least 1620 or a bit below. if that's broken, the next targets below are 1530 and 1450

vannaria

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Not exactly a price correction, it's the market moving up and down.

Since The cyber attack on chains of hospital in UK happened, and it's either panic selling or just the attackers are cashing out.

Dont panic, I bet it'll recover the same price in some weeks.

Nagadota

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Now the Bitstamp data has gone back up by about $50. Clearly just a correction so that the price can stabilise. There's no bubble and the price won't drop to <$1000, but we could see this pull back to just over $1600 in the future before Bitcoin goes for more gradual growth (or a bubble, depending on the size of these curves).

The Sceptical Chymist

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Well, what do you expect after jumping from $1250 to $1850 in a matter of weeks? This is to be expected. Lots of people made money in this huge pop, and people sell and take profits.

Do I think we're going to drop to $1000? No, I don't. The bullish feeling is still around, and people are just taking a breather. I don't think I'm going to be buying much at these prices, though. Yikes.

Topic: A price correction is happening now - page 3. (Read 3557 times)