Topic: As we approach $10k, a correction/crash is coming. (Read 1321 times)

Accurate.

I’ve been in this forum for almost a year now and what amaze is everytime there is a significant increase in price.. A rapid increases actually,, a new thread will come out (w/valid points and good explanation about it) that a correction is coming.. This does really makes no difference at all,, for I observe the investors are well knowledgeable about it and panic selling is now minimized after those dip that rattled the newbies and gained experienced now.. So don’t think much about it,, that would be better..

Prices pumped at its highest this year and we have experience some correction already but at the end of every corrections prices will continue to pump and that is what we should not miss when it happens. That is your your point here if I am not mistaken. Since there are frauds and other factors that indeed influences the price movements it will trigger fear in everyone.
And you advise them to do nothing.
Well some depend their whole lives with bitcoin which is not wise and we can not blame them. But if is true that in every dip we should buy more. It will worth more including efforts.

A 30% correction is definitely possible given the corrections we've seen this year. However, we are in full-blown parabola mode, so anything is possible. We could see less and less dips as we approach the top. According to Peter Brandt, we can drop to ~ $6800 without breaking the parabolic shape. Further than that, the whole rally is thrown into jeopardy.

I agree that Tether is problematic (and Bitfinex has other problems as well). But don't underestimate how long it can take to play out. Regulators tend to move slowly, and I suspect that regulatory or law enforcement action against Tether/Bitfinex will be the catalyst for Bitfinex's downfall.

I'm not talking about a 1000-ish apocalypse, but the usual FUD followed bt 30% dump from 10k to 7k, or something like that.
It's clear by now that the next trigger will be tether, how it's big is not important when it comes to spread panic.

Anyway, a bank run from bitfinex (and every other centralized exchanger) can only do good for the ecosystem.

I don't really see a crash coming, maybe a pullback. But what I see is a extremely big resistance at 10k, which could take a few days to cross.
When it is crossed it can easily reach 11-11.5k the same day imo

Corrections are nothing to be fear of. Because the price is rising fast that doesn’t mean that the big crash will follow. Maybe we will not reach 10000$ as soon as it looks at the moment but I don’t expect the dump to be dramatic. And even when it happens, if it happens, don’t do something emotional like panic selling, just hold your coins this correction moment will pass rather soon. And don’t believe everything you hear or read, there are too many so called Bitcoin experts these days.

At some point it might, but cuttent levels are far more than just a pump with fake money, like how MtGox back in the days did it. People should have ditched Bitfinex directly after the fake hack, but just because they got "compensated", people suddenly started to trust that exchange again, which is a shame. Current growth comes from all over the world, where Asia is the main engine powering everything. If Bitfinex happens to implode, it will definitely cause a major selloff, but regardless of what happens, we'll always be hovering around much higher levels than what we entered this year at.

Just threads? Go to tradingview.com, only bear predictions there.

"Tether is fractional reserve fake money and bitcoin price was pumped with this fake money on bitfinex".

I worry about tether too.

"Tether is fractional reserve fake money and bitcoin price was pumped with this fake money on bitfinex".

This is the next drama. Buy your popcorn.

You're probably right there. Even if you even have a little understanding of economics you realize there has to be some sort of correction down the road. No rocket science.


LOL. What a generalization, do you really think hard core bitcoiners will leave the game that easily? You're under estimating us boy. Lots of bitcoins are locked away for the long term. Sure, those who are only in it for the money will be more likely to give into the FUD and "herd mentality" (probably still a majority but not all of us).


WRONG. I'm yet to partake in an ICO. And again the people who do are only in it for the money and don't really care about bitcoin if they closed their position.
I was able to snatch up some at relatively low prices but that doesn't mean I just got lucky. I recognized the potential in the long run and pulled the trigger and bought. And I will hold the f*ck on for dear life if I have to. Let them come with their institutional money, my body is ready.

I think more people right now are investing in bitcoin and most of the company are investing in bitmain that i think it would be hard to say that price will crash but expect that there are other holders will satisfied with the price and sell but if they seen the price getting low expect that there are other people will buy more bitcoin too.because they are waiting to buy cheap bitcoins ..
Maybe we will see a big crash if there is a big news about bitcoin that can bring people to panic sell..

Any correction will not force people to sell their bitcoins. Most users will keep the coins at any price. Among the users is very small percentage of those who can and sell cryptocurrency on the exchange. This means that bitcoin will continue his ascent to Olympus.

This is all part of the system and the volatile market of bitcoin, wise investors have seen this coming and are readying their cash to buy the fucking dip. The best strategy is to buy low, sell high; always stick to your goal and have your own strategy in investment. Bitcoin is going mainstream now, there will be bad news along the way and more panic selling will happen, but, it won't stop the growth of bitcoin. Wise investors never let their emotions affect their ways.

Im not suggesting the overall trend line will not continue to move upwards. But there will be major dips in it that in the moment will test peoples’ resolve. Dips that roil the entire ecurrency market, suggesting the bull run is over and the hysteria that will be made worse by the media’s negative, ‘we told you so’ reporting. And generally these dips are better understood by career traders, not guys worrying about fork drama. I’m only concerned because so much of what I read seems to be blind optimism, based on an admittedly amazing run, but mostly blind to the harsh realities of market trading ‘laws’ that will start dictating much more as the guys that trade on them throw their money in. Career traders are trained to see warning signs, because trading is as much a study of psychology as anything else. Charts are psychological predictors. There is another side to the elation on these boards and it’s panic and institutional money is aware. Just a friendly reminder.

I disagree. I think this bull run has a way to go. It won't till the last bear has capitulated - that means when we stop seeing threads predicting crashes, the top will have been reached. We're not there yet.

Lots of us don't trade at all. And among those who do trade, weak hands are long gone. Veterans are in the "Mr. Bean on the rollercoaster" mindset for years now, and you're warning us about incoming correction?


Wall Street? They don't care about round numbers. They care about value difference, not absolute values. They’re going to buy at $10k, or any other price point, as long as they'll see the way to make a profit.

what the hell kind of advice is that? are you serious? you call yourself an "experience trader" and then you tell people to do nothing during a major dip?

The first thing that everyone should do during a major dip is buy cheap bitcoins.

During a dip there's going to be 'panic sell', especially by those early adopters, those who just bought their first btc a few weeks ago and are seeing red numbers in their invesment. Then we come in, we take advantage of all the FUD, the low price, the panic, etc and we buy those cheap bitcoins, this is what everyone who's been on this game for some time will do if there's a big pullback in the upcoming days.

Also, "correction/crash"? what is this? you know there's a BIG difference in those two terms, right? is there going to be a correction or a crash?

I can't agree with you more. I am also expecting that its market value will fall before this year end because the price of Bitcoin is already expensive at this moment and that is absolutely normal. Bitcoin is volatile in nature so fluctuations are always expected. But even if its value will drop , surely it will be able to make is way up again in no time.

O rly?!  Lololol.  They'll be in for a surprise if they think their tricks are gonna work on Bitcoin.  They haven't seen anything like imo.  It's like Bitcoin is a cult and its believers just won't let go, no matter what.  

And we have seen FUD come and FUD go.  I think we'll see Wall Street come and Wall Street go too.  

Let that correction / crash come, that will make the ecosystem balance. Bitcoin will be a ponzi if there will be no pull backs after it's major pumps but if because of these dips this is making it more legit unlike other coins that are totally dead nor flying high without any reason.


I'm remembering other thing that doing nothing is good for long term holders which is you are right on it. But if you are one of an optimistic person/investor, you can take the advantage of buying at dips.

Buy while the price is still low and just keep on buying until you'll see the profit coming onto your balance. It may give us some fear when we see the dip happening but it's all worth it after it.

I would rather buy the dip. I do not expect any major dips anytime soon tho. I see maybe 8k being the lowest possible after correction.

Though I’m not nearly as experienced on this forum as your “37” posts imply of you,  I have very successfully traded the markets for the better part of a decade, so I speak from well earned experience.

For me i doubt we'll see much of a resistance at the $10k level.

In fact once bitcoin races through that level we'll see an acceleration of the current bullish trend. It's not going to slow down until at least christmas by the looks of it right now. If there are dips then do the obvious thing - buy it.

I think the major correction will probably come at $13-14000, instead of $10k.

All of us here are just predicting and since you are a newbie, I think it would be better for you if you read about bitcoins. Because for now, some of us here is thinking when will be the time that bitcoin will reach the $10,000. Is it by the end of the year or this coming year? If there will be a correction or crash then probably we should be ready for what will happen. Future is not certain anyway.

I think so too, that's why I always see the bitcoin price everyday and get ready to cash out all my bitcoins when the price of bitcoin hit $10,000 soon. What I think is when the bitcoin price hit $10,000, it will be a correction and then go up again to $10,000 and maybe to $11,000 ? no one knows.

Here comes another newbie with his predictions. Easy solution. Set your target. Sell only when you hit your target. Don't regret and never look back. Money.

I've been dealing with a lots of question about bitcoin's reaching $10,000 this end of month and a lot of people is expecting that kind of value. And others stated that there will be a pullback due to the December's event which is Christmas and they came up to the conclusion of that. I would probably say, we can only predict and still doesn't know what really might happen. So, let's just watch the value of bitcoin as the time pass by.

Yes, a healthy correction is coming, I would say. It won’t necessary be at $10.000 but should be around that mark.

It is quite funny to see the forum flooded with posts about how bitcoin will keep increasing indefinitely, some people even saying that it will grow constantly.
It’s not just a correction, at some point we are going to have a bear market, with downward trends and flatlines lasting months at least. And those very same who are so optimistic now, will panic and sell.

Speaking of TA, Bitcoin is clear to break through 10k. I'd be surprised if it corrected at 10k, more like 12-15k in the next few days. In any event, we'll have a better idea probably in the next 12 -24 hrs.

If Bitcoin can not see his $ 10,000 level this Monday, it proves it will see for sure in December. There is a possibility of a strong pullback. But this week will have a very important place for Bitcoin, everyone is wondering what Etherum will do when Bitcoin is $ 10,000.

true, we have seen time and time again that after a rise like this there is a correction of about 10-15% drop. which we may also see here. but only in case $10,000 is reached this month not 6 months from now!!

and the big "crashes" like 30% or so drop only happen whenever there is some kind of drama going on. last one was the "bitcoin is dead and BCH will replace it because S2X is dead"-drama. the previous big one was the "UASF will split bitcoin and it will die"-drama. i don't know anything that is coming to us now though!

also i disagree with #3, there are already "market makers" who have somewhat control of the market. where do you think all these shakeouts come from?

LoL but seriosly that is the common idea major dip down lol once christmass start bitcoin will surely decrease cause of selled bitcoin through the needs of individuals abd spend their money on preparing the big event where people shares everything what they have.

Torque is my spirit animal...

Actually, the best thing to do is buy on the dips on the way down. Keep buying a little bit here and there and DCA your way into a good overall entry position.

And once the bottom is confirmed, the forum is full of trolls yelling "It's over!" and "Bitcoin is dead!", and the MSM articles are pumping out Bitcoin obituaries again, buy it like crazy when no one seems to want it. Once it starts heading back up again, relax.

That's what the strong hands did at the last bottom. And that's why they are winning now.

Why?

1- Study the past chart movements, they’ll tell the story. Major corrections are healthy and necessary.
2- People will take profits at the psychological cliff that is Bitcoin $10k.

And MOST important:

3- Institutional (Wall Street) money WILL eventually take control of these price movements. And when they do, they’ll shake you guys out (the little guys who have no understanding of price movements, TA analysis, etc) and when you all sell after a major drop, they’ll happily buy your BTC. At that point, we’ll see MUCH LESS volatility, because ALL of these guys trade their hundreds of billions on chart analysis, which in turn creates much more predictable price movements. Herd mentality.

Most of you guys here are concerned with forks, and pumps and dumps, and ICO offerings and whether it’ll hit $50k in 2018 when in reality, the really big guys are on their way to shake you the fuck out of the value YOU created. I think most of you will lose your asses. Do you know how to trade the way they do? Or did you buy a handful of coins at $2k and are up, not because of some continued investing geniousness but rather simple luck in buying into an asset that has seen only one overall chart trajection thus far? They’re not going to buy in at $10k, that I can guarantee. But they DO want in. And they need to get in, if Bitcoin is going to retain its value in a much more stable way as it weathers its scalability, usability and regulation growing pains. Exchanges know this, that they need societal integration, and that it won’t happen without big bank investment. That means the little inexperienced guy has to get out of the game.

Is Bitcoin the Friendster to the MySpace, who in turn died for Facebook? Possibly. But it’s whats happening now. It’s fun to speculate and dream. With a 1,000% increase how could you not? But please, take a step back from the warranted excitement, and see the bigger picture. And it is MUCH bigger. You all made the kill but the lions are on their way for their share.

REMEMBER, IN A MAJOR DIP, THE BEST THING TO DO IS TO DO NOTHING. (aka don’t panic sell)