Topic: Bitcoin correction? - page 3. (Read 479 times)
I think mt gox dumps aren't enough to kill bitcoin fuel. So I still see next stop as $10000 a bitcoin. We will return back to last month. Anyways lightning network is really needed now to fully speculate higher on btc price.
- A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation.[1]
- A stock market crash is when the 10 percent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 percent, for a total decline of 20 percent or more.[2]
So it's Bitcoin crashing.
The supply and demand rules have made 10,000$ as a stability point.
Price can be restored to 4000 but we need very bad news [Bitcoin ban, Network fee,....etc].
Sources:
#1 https://www.investopedia.com/terms/c/correction.asp
#2 https://www.thebalance.com/stock-market-correction-3305863
Bad news like banning Bitcoin and such does not have a big impact on the price. Maybe the first news like that had some impact, but not anymore.
Multiple factors needed here. Maybe one more of the Mt. Gox big selling and something to refuse people from buying.
4k is not a correction, it's a crash and it's probably not going to happen. Price seems to be fluctuating right now between 8.5k and 9.5k. We'll be back to 12k within the next 10 days unless there's something to cause another fall in investor confidence.
Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?
Even the best analysts can not tell you where the bottom will be.
It's all a guessing game.
There are guys who were right and on point for a certain amount of time and suddenly their forecasts fail.
Don't listen to what others have to say. Maybe they're having a hidden agenda and you would be one of their "victims". Or they just too biased due to being invested to heavy or not being invested. So there is always a reason to call for a certain direction if it could be in your favour.
Better do your own analysis, especially here in the crypto space, which is full of sharks and shady charcters who just try to take your money in any possible way.
Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?
I don't really think we're going there. But if we do, I'm aiming closer to $3,000 for the wick bottom. $4,000 area for the rounded bottom. Bitcoin loves to make Adam & Eve bottoms.
I want to see bears really demolish a bounce on the daily chart (not intraday) before predicting that kind of carnage. We're working on a 7th red candle in a row. Waiting on that bounce....
- A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation.[1]
- A stock market crash is when the 10 percent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 percent, for a total decline of 20 percent or more.[2]
So it's Bitcoin crashing.
The supply and demand rules have made 10,000$ as a stability point.
Price can be restored to 4000 but we need very bad news [Bitcoin ban, Network fee,....etc].
Sources:
#1 https://www.investopedia.com/terms/c/correction.asp
#2 https://www.thebalance.com/stock-market-correction-3305863
If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.
According to wave chart analysis, bitcoin can be reduced to as low as $ 4k5. Thus, the cryptocurrency market will remain volatile. But the $ 4k5 bitcoin will be a big boost to the market especially altcoin because many new investors will enter the market when the bitcoin drops sharply.I guess we should see everything in a positive way every dip because there will be new investors coming in times like this. If it does go down to $4k, its like the price when I've entered crypto last year because BTC was about $4.5 last September. Hope it won't go down to that rate though as $6k correction in my opinion is good enough.
If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.
According to wave chart analysis, bitcoin can be reduced to as low as $ 4k5. Thus, the cryptocurrency market will remain volatile. But the $ 4k5 bitcoin will be a big boost to the market especially altcoin because many new investors will enter the market when the bitcoin drops sharply.
It is true that bitcoin is still corrected, and after this obstacle many people believe that even if I bitcoin it will rise up to $ 40000 price even more.
If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.
Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?
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