Well, I agree of the above post that there is a big organization that I think sold their holdings after the price reach their target price.
Then suddenly price has drop and I believe that many people who holding big amounts also sold their bitcoin because their target price is around $9,000. Those people who sold their bitcoin are people who bought bitcoin at cheaper price maybe around $7000 so if they can sell it at $9k they can make a good amount of profit. So I don't believe that this is because of correction so believe more if people who bought bitcoin below $8k and make profit today.
Topic: Bitcoin Just Plunged $700 Upon Reaching $9,060, Correction or Reason To Panic? - page 5. (Read 820 times)
January 19, 2020, 12:16:36 PM
January 19, 2020, 11:59:48 AM
Maybe correction bitcoin more than $700 for growing to higher price and never panic your self and keep hold bitcoin assets until halving coming, I know is the way for bitcoin correction an touch more than higher price to $20,000 and keep investing your money with bitcoin, never heard some one want to ask you sell bitcoin with lower price.
January 19, 2020, 11:56:04 AM
The price has suddenly dropped 700$ in a few hours, so I think this is not a correction. A few organizations or someone panic sell at this price level and cause the price to collapse as it is today, I hope it does not affect too much bitcoin price in the coming days. And my goal is quite similar to yours, hoping to see BTC go up to $ 10000 by the end of January
January 19, 2020, 11:52:57 AM
I’ve been waiting for a few weeks when there will be a correction and now it has come. I do not think that everything is becoming very bad, but I expect that now the price can again return to the level of 7 thousand dollars for bitcoin. this is a very normal and predictable movement. I already said that this growth was created in order for everyone to start buying bitcoin, and then the price will return to its previous values.
January 19, 2020, 10:13:40 AM
it's just correction
Yeah, maybe btc will hit $10k this January, just my thought
January 19, 2020, 10:11:12 AM
There is really no reason to panic unless this is your first ever "crash" of bitcoin, this is not really a crash but it was a big drop in price and I couldn't find any words to describe it aside from crash, sure its not 2k+ drop just 500-600 but its still a drop nevertheless. Hopefully this is at the realm of recovery and we will recover quickly, I can't talk about what will happen of course, I am not a financial analyst or ever claimed to be, maybe it will go down, however from years of being around the crypto market I can tell you that when the price drops less than %10, usually thats not a major panic button issue, only be scared when it goes down more than %10, reason why most of the time I have a %10 stop loss as well.
January 19, 2020, 10:08:39 AM
in my opinion it's only a correction on 1D so there is no problem about the price of bitcoin going down, because bitcoin is not a pump so it has peaked for this week, so the next few days may be corrected down for a while because the charts on 1D will go down, at least the price has touched above $ 9,000, it looks like it won't be under $ 7,700
January 19, 2020, 10:01:03 AM
In my opinion, the current decline in bitcoin is not too sharp and is still in normal conditions, and the price of bitcoin has not touched $ 7,000 as you said and at the moment the price is $ 8600 which in my opinion is still in a good price position.
do not panic because in my opinion the price of bitcon will return to the price of $ 9,000 or exceed that price in the near future.
do not panic because in my opinion the price of bitcon will return to the price of $ 9,000 or exceed that price in the near future.
January 19, 2020, 10:00:09 AM
It's not a reason to panic, it's normal correction since it's now a little above 8.6k$ and shows sign of uptrend. However, I think the upcoming Chinese new year might influence the market negatively, well I hope it doesn't affect it much. However, after this Lil dump, I expect a massive uptrend since everyone will be singing the "halving hymns".
January 19, 2020, 09:50:23 AM
It seems to me that it was predictable that Bitcoin probes 9k and rolls back. Personally, I have fixed the profit and am now preparing to buy some more bitcoin.
what I see is the work of a number of whales who try to profit by selling at high prices, causing prices to fall and being able to exert a lot of influence by other traders, which eventually makes many traders panic and sell their assets at low prices, even though the price of bitcoin can go back up again. January 19, 2020, 09:41:12 AM
It seems to me that it was predictable that Bitcoin probes 9k and rolls back. Personally, I have fixed the profit and am now preparing to buy some more bitcoin.
January 19, 2020, 09:37:06 AM
Looks healthy to me, i would be more alarmed if it suddenly went up from there. Steady rise with high volatility is something i can deal better with then parabolic rise.
Hopefully we can deal with it without any fear of bearish market, because volatility is one of the reasons why more people panic due to lack of adequate analysis. Most non skilled traders just get updates from FUD makers who made statements with exaggerating stories, which affects them emotionally.
My advice with them, don't rely with unknown sources and make your own price analysis to avoid being deceived by several news manipulators.
January 19, 2020, 09:23:04 AM
it's just correction
Yeah, maybe btc will hit $10k this January, just my thought
January 19, 2020, 09:03:32 AM
it's just correction
January 19, 2020, 08:34:14 AM
Looks healthy to me, i would be more alarmed if it suddenly went up from there. Steady rise with high volatility is something i can deal better with then parabolic rise.
This latest plunged made me set a buy order with a good price
January 19, 2020, 08:32:27 AM
Looks healthy to me, i would be more alarmed if it suddenly went up from there. Steady rise with high volatility is something i can deal better with then parabolic rise.
January 19, 2020, 08:15:50 AM
Today we got another reminder that volatility is working both ways.
Bitcoin has fabulous times since entering the new decade. However, when we see such a parabolic move to the upside, we can expect volatile moves to the other side, as well.
Just yesterday, we mentioned Bitcoin price reaching its first major test – the 200-days moving average line (marked light green on the following chart). Many analysts see this tough resistance as the barrier between Bear and Bull markets.
Today, Bitcoin surpassed the crucial moving average line (roughly around $9060). However, shortly after recording a daily high (and year to date) at $9188 (Bitstamp), we received a MEGA dump.
Besides, on the 4-hour chart, we can clearly see Bitcoin reaching the top area of the marked ascending channel.
Bitcoin lost over $700, plunging to the $8400 old resistance level. As of writing these lines, Bitcoin had recovered a bit, trading above the $8600 resistance level.
Current Price in Binance 1 minute chart:
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