After The Surge...Will There Be A Burst?

squatz1

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Quote from: lucifochrome on November 26, 2017, 11:41:58 PM

Yeah i think by last week of december there will be a correction, it happened in the past that everytime bitcoin rises there is a correction that will follow that but like what happened before after the correction it will rise back up and will continually be on a rise for months say about 3-4 months then the same thing will happen. So i guess 10k will be reached by february. This is just my take on it.

Well as I've said this during every other pump, I do as well think that there's going to be a correction -- if you are to look at the price of Bitcoin right now you'd see that it going up like a straight line. This is something which we haven't seen before, like EVER. What was the ATH of Bitcoin back around MtGox? A couple thousand? Nothing like 9k, 10k?

This is sure to fall at some point. The BILLION dollar question is when, and how much.

But I do think there will be one though, there must be one.

sofi@

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"If there's a pump there is also a dump" this probably the way many people are thinking now we cannot blame them because this is how the value of bitcoin grows, it's a part of the cycle but for me I am confident that if ever there is a dump with bitcoin price at the end of each cycle a more highly price can be experience. We don't have to worry if there is a burst just trust in bitcoin.

T-Gee05

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There could be a burst.. 10K might be a peak then people might go sell because of fear of that burst, then price might drop down. I don't know how low.. then after the drop price might go stabilize.

It is hard to predict. People predicted BTC will reach 10K by December. and here we are at the last week of November already reaching almost USD10K mark.

Are you guys going to sell at 10K or HODL? Huh

jseverson

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I feel that burst is too strong a term. What happened to Bitcoin Cash was a burst. It was pumped, and was subsequently, purposefully dumped. It had no reason otherwise to reach those prices. Bitcoin's surge, on the other hand, I think is organic. There are no high profile forks, so there are no pumps from altcoins. It's just that people are really starting to gain confidence in it and its future, with all the news about futures trading, and wealth managers acknowledging it.

We may be due for a correction, not a burst, sometime soon, but with what's currently going on, it's going to be a while before we see Bitcoin before $7000 again, if at all.

crazyivan

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Corrections and profit taking is always possible but I dont think we ll see 6-7k ever again.

I do feel alts might start seeing some serious love since a lot of money s been pouring into crypto. People who missed BTC train start asking themselves what else can repeat that kind of growth and start buying alts.

That s why Ether s up, that s why Neo s up, that s why Dash s flying.

teilwalL05

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Quote from: pooya87 on November 26, 2017, 11:55:39 PM

one thing about these round numbers is that they are natural resistances. and it works both ways, up and down. breaking them to go above is as hard as breaking them to go below. if price goes above $10K strong and stays there for a long enough time, then there will surely be a big resistance forming up around the number.

but there is no denying that this rally has been very long and very big. i wouldn't call a "burst" but there surely is going to be a correction pretty soon after.

A correction after a great pump occur are the possible scenario we can see after the month of November, and just like you I really don't want to say it will be a crash it is just a correction that we are going to encounter and right now just savor the value of bitcoin right now because it can be at the $10,000 value sooner or later.

hadveach

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yes, I see that bitcoin at the end of 2017 will be above the $ 10,000 point, and that is of great interest to all the world.
I'm sure that bitcoin prices will always go up, but I also have to worry about the upcoming correction next year.

zenrol28

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The question is when will the surge stop. And i think it wont stop when it reaches 10k. But if it's gonna burst, it's gonna be hard I think. So be ready and put your seatbelt on. It will be bloody for a while when the burst comes.

Baronggot

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A 10,000 USD mark is achievable before this year ends because bitcoin is pretty sitting at 9,700 USD today. With that, i am not worrying of a possible crash that may happen while the bull is continuously running. So for now, i'll just ride with the bull run and come what may.

soham

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Most likely Yes! Every bull run will see a correction, that applies for real world stock market as well as the crypto currency market. And I foresee that the correction will come to the entire crypto market and not only on bitcoin. Because if you see, most of the cryptos are seeing the bull run and the price is increasing like anything. It is because a lot of investments are flowing in to the crypto market. In the beginning of the last week, the market cap of bitcoin was standing at 145 billion US dollars and if you look now, we are standing at 162 billion USD. So we have seen a surge of 17 billion USD within a week. That's crazy. It is probably we are seeing the impact of the adoption news by various financial institutions which gathered a lot of speculators in the market. A correction is imminent but only to make the base stronger. It will provide us with an opportunity of buy bitcoins at a cheaper cost.

sicparvismagna

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Yeah I think with recently fast rising of bitcoin price in the market we could not hide the fact that there could be crash or fall down upon it's price depending upon the movement of the demand of bitcoin until the end of the year. The reason also is why most people are not exchanging all their coins and are still holding some of them because a correction may happened anytime soon.

NorrisK

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I don't really mind it if there is a correction. It is all part of the game and it is very likely that I will still be ahead after it bursts.

I stopped worrying about the day to day fluctuations and it give me a lot of comfort. I am looking forward to the 10k level though! What a milestone!

A1exander

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There certainly will be a correction. I suspect that some will even call it a crash, but it will not be a real crash. The volatility of bitcoin seems to be decreasing and I doubt that there will be a large 30-40% correction, as before. But the fall from the current level to, say, $7500 would not surprise me. Another question is the level from which the correction will start. Such sharp spikes are completely unpredictable. The correction may start right now or after breaking $10k. Nobody knows.

jakelyson

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There will be. Just look at how fast the price of bitcoin goes up. It is imminent that a correction will occur but I would not call it crash. It may correct a few hundreds of dollars up to a thousand, and I hope not more. This will occur maybe because of profit taking of some of the holders. But that will be countered by new money coming in who got interested because of the price of bitcoin.

lighpulsar07

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Well i am happy that bitcoin price is way closer for 10,000 mark and in my speculation 10k will reached in few more days and i must say that this is the fastest price surge ever happened even some commodities can't do that but on the other hand, not all the time bitcoin price will always keep rising but there more likely there will be a correction next year we don't how much but i'm sure there will a price reduction next year.

HabBear

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Quote from: pooya87 on November 26, 2017, 11:55:39 PM

there is no denying that this rally has been very long and very big. i wouldn't call a "burst" but there surely is going to be a correction pretty soon after.

It sounds like you're callng all of 2017 a rally. I don't think that's accurate or fair. A rally ends when there is a breakdown in support and the price retreats. We've seen multiple rallies and declines this year, 11 rallies, 10 declines to be exact. This rally to $9500 has last a week or two.

Quote from: pooya87 on November 26, 2017, 11:55:39 PM

one thing about these round numbers is that they are natural resistances. and it works both ways, up and down. breaking them to go above is as hard as breaking them to go below. if price goes above $10K strong and stays there for a long enough time, then there will surely be a big resistance forming up around the number

This is a great point, these big milestone numbers have a psychological influence on trading behavior. People think " if it hits $10,000 i'll sell", etc.

HALLASTERA

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If will be long-short about 2 weeks or more everything will be fine with price. But if continue hype then will be correction and correction will be hard.

pooya87

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one thing about these round numbers is that they are natural resistances. and it works both ways, up and down. breaking them to go above is as hard as breaking them to go below. if price goes above $10K strong and stays there for a long enough time, then there will surely be a big resistance forming up around the number.

but there is no denying that this rally has been very long and very big. i wouldn't call a "burst" but there surely is going to be a correction pretty soon after.

glowing10

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Quote from: lucifochrome on November 26, 2017, 11:41:58 PM

Yeah i think by last week of december there will be a correction, it happened in the past that everytime bitcoin rises there is a correction that will follow that but like what happened before after the correction it will rise back up and will continually be on a rise for months say about 3-4 months then the same thing will happen. So i guess 10k will be reached by february. This is just my take on it.

One thing that could happen is that this rally may continue for a while and before Christmas some of the big players will remove the money from this market and take the profits out and celebrate the Christmas. Thus some correction could be seen before Christmas and then once it falls back they would reinvest in new year again.

Argoo

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Now the price bitkoyna is 9 704 dollars. Indeed, bitkoniy can pass the mark of 10,000 dollars as early as this week. By the New Year he presents us with an unexpected gift. How will the holidays affect its growth? Until the middle of December, apparently, its growth will be unequivocally due to the forthcoming fork and the formation of some kind of super-bottle, but since mid-December its recession is already possible, since on holidays many people will use money for various gifts and at the same time cryptovata, in including bitcoyne, will be exchanged for fiat, or goods and services will be bought for it directly.

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