Topic: BTC price and its correction. (Read 2031 times)

It not just China how is at the moment impacting for bitcoin price, article in guardian also going in this way. As mentioned in this article by JP Morgan boss Jamie Dimon, he is saying that bitcoin use is fit for drug dealers, murderers and people of North Korea. No good for the ones that are reading this, but he also mentioned that bitcoin is a fraud. Did he see how bitcoin evolved this year, i would say no.

Not to mentioned that many think that bitcoin will never be good or valued enough this year have proven to be other wise. We saw price go boom and this correction is something that will go for next few weeks maybe even this month. This is not the way for executives from one of the major if not the major bank in US put some lines like this. Cuz we are not drug dealers or murderers here, we are miners and workers who do some jobs or tasks for bircoin cuz we believe and love bitcoin.

Anyway here is the whole article and you all state your point of view. 
https://www.theguardian.com/technology/2017/sep/13/bitcoin-fraud-jp-morgan-cryptocurrency-drug-dealers

That's not bad. because if bitcoin price reach that price i definitely buy a couple of bitcoins since the price is low and afterwards bitcoin price will go bubble again and that's the right time to sell the bitcoins that i buy at low price. Trading is the best.

lol I agree, sorry eng isn't my native language 

I think that there's a difference betweed probability and possibility.
So far 3400$ is probable, at least to some degree.

2000$ or even 0$ are possible, but not much probable for now ... 

Bitcoin looks like it is going down to 2000 geeze this is bad

Don't you think that 2000 price is possible?

From the charts and my vision it seems we are going to 3200-3300 band in short term.
Then we will see a jump from that support which is around %50 Fibonacci level.
Lets see what chinese goverment will give us

Thanks for advice, I'm not gonna panic sell and will keep for long

We could say that BTC is the father of all crypto and with all of the correction that's happening to it right now, other altcoins will also get affected by it. I'm seeing that this correction will be going for a month or two before getting back on its track again to test the $6k area. With that being said, altcoins such as ETH will be in the downtrend for the time being. Grab the opportunity and stack up your BTC stash and your altcoin bags.

Right now the price decline is not because of the correction, but this has been mentioned as the impact of the ongoing issue in China. The price started to retain with minor fluctuations and soon this will pump taking it to go higher than the long expected $5000. As stated in the above quote the experience plays a major role in the trading.

Yeah, also participated in the first ico for me (blackmoon), looks promising, at least ico with good team

Made those panic sells in early stages when I started with bitcoin and any crypto then i realize how thing are going now with lot of experience i mainly wait and that is advice that i will give to anyone wait. If you want to make some risk now try some ICOs but be very careful with this investment cuz most end bad, very rarely i saw that they return fund when it was out of there goal.

That is right, when you sell your Bitcoin during panic times, it just makes you have loss and feel regret after panic selling ended. But you do not need feel sadly after that, because it gives you some experiences very useful for your road become a professional traders.

It seems these corrections are really good for the price... Bitcoin has gone up again and it looks stronger than ever.

Yup,buy now or collect more since it can be a good investment for the future. Long term investment can be the best way to earn without too much risk since btc will surely increase a lot soon.

Price going up for sure in the next few years, corrections will lower it for a couple of hundreds of $ for some time untill it gets over the higher price before corrections. Buy now if and how much you can and hold, you won't lose anything for sure.

There are many bitcoiners speculating on the bitcoin price. As the value already have been downfall lately and it will recover again. And I think price will reach into high as many says btc will hit again in the market. Yes I agree it is the best to buy abd hold because you can gain profit for sure.

i think that people are not expecting any correction in near future, because the correction is already over in previous days, i think that the current downfall is only because of the China issue who banned ICOs but now the price of bitcoin is recovering again and hope that very soon we will see that bitcoin will recover its previous position very soon and will every continue increasing. i think the present time is the best time to invest our assets in bitcoin because the price of bitcoin is already trading in a low price and hope that very soon its price will start increasing.

You are assuming the past will repeat itself. That is a common fallacy. Just because the last peak was around $5000 doesn't mean that it will happen again. The next time, Bitcoin could race to $6000 and you will miss out on profits.

People are just mad here who sell on this news which is in fact not a bad news at all. I first thought only bitcoin was down but then i opened my Poloniex account and saw a red blood bath of all the altcoins too which made me surprised. Now after few hours i again touched the exchange and saw the green rises in all the altcoins. The dump is just temporary and will not last long.

If you have strategy sell Bitcoin at highest price around $4,9xx you will receive second round for earn profit in Bitcoin or exchange to FIAT if you worry about future of it. Of course, there are not have many people understand this issue, and they always skip their opportunity for other traders

There has being 800$ correction approx going to low of 4k today and started to recover form there it seems now. Its trading at 4200$ above now so does this mean that the fall has being over and the rise of price has started. I feel that this was a temporary fall and should rise going forward and we could soon see it crossing 4500 $ mark and back to 5k in couple of weeks form now. Infact this seems to be good time to invest a lower rate before the price again mumps off to new high.

People, I am with you when you say you can HODL HODL HODL in the long term.

BUT.

If you just did some basic market analysis, you could save much money and enlarge your profit siginificantly (somewhere from 20-50 percent I'd say).

Just look at this picture:
https://i.imgur.com/yp4qeaT.png

See the two moving averages? A clear sell. The longer one nearly right after the ATH right until now and even some more time.
Then there are the GANN-levels that have been broken through several times. Not only on this long run, also in a shorter view (not in this graphic, already now way to overloaded).
Thirdly we have a clear trend heading down sharply, tested and verified three times now.


I really just can not believe how people (plenty, not you alone mrjoy) said and say, no rather SCREAM at any of the current local lows BUY, NOW THERE IS A LOW PRICE THIS IS YOUR CHANCE.

I used similar techniques for the last 2-3 days.
At day one it was just an indicator and a feeling that there HAS to be a big correction.
At day two and three it was certainty.

Sure, I can say wohooo I knew it you silly idiots but that is not my intention, I just want to give some advice to the people that aren't (maybe irrational) stoic.
I'm not saying you should sell when the price has just gone right below the MA or buy right when it breaks through the trend.
Because this method is not perfect - but it is good for figuring out what the main direction is. And for now it is down.
I can't predict how much it will go down, but I'd guess there are a several hundred dollars more to lose.

And please, do not rely on this post and do your own research. Evaluate the data you have and if you think the coins are underrated, buy 'em. Otherwise, sell 'em.
As you should, btw, always do.

there are people here who are speculating this will be a long correction. let's hope for the best; don't buy yet.

Bitcoin now in correction mood, good time to buy as much as you can- this is why I believe. Buy on dips because it's still a bullish market. You will think about these dips in future. So, Don't regret.

You have been very good at controlling your emotions not to sell when dumping, hold bitcoin now is a good pillar for me because I also do not sell it during dumped because of news about ICO from china. I'm sure the bitcoin price will recover soon.

Lesson learn for me again today. Not to sell during panic times. Although I got nervous today seeing the price going down by the hour and touch below $4200 now going to $4xxx. I guess the negative news coming from Chinese regarding banning ICO are being felt today.

Yes current blood bath in crypto market is just because of partial news of chinese authority banning ICO, but I think this shouldn't have any connection with bitcoin because they are only talking about regulating and banning bad ICOs not bitcoin or crypto trading. 

NEO and ETH price have dumped hard because of panic from this news but I think both of them including bitcoin will recover really fast in next few weeks.

Just don't sell anything you have right now.

It's not only a bitcoin price correction anymore.
All the crypto currencies have a rather bad day today.
Mainly because of the ICO ban I suppose.
In fact bitcoin is doing much better than most altcoins.
Of course when a very important method on how altcoins get their funds is removed, that has to affect the whole market.
But for the bitcoin price, maybe less altcoins will be a benefit in the end.

It seems that it wasn't the $4000 level where the much waited for correction would start to kick in, but the $5000 level. Current decrease is a very healthy market movement as the market was well overbought - nothing increases only in value. It will be interesting to see whether or not the $4000 will hold strong at USD exchanges. If it dips below $4000, which still isn't that bad considering the high level of growth that we experienced lately, we might even be up for $3500 in the coming days/weeks. People that were desperately waiting for a better moment to enter the market, here is your shot. This perfectly demonstrates that it is a wise thing to cash out profits from time to time.

Speculation about bitcoin prices in coming days should not be restricted to trading windows and days alone!  The potentiality of bitcoin must inspire the newbies and pro alike to hold and get rich

Maybe but think this month will be 5000 and above with fall to current price several times during this month. This will be first big test if the price for one bitcoin can be maintained for this 5k in price for one bitcoin. If this proves to be true then we can expect to see movement in price for bigger but if not think that in this case we could see price going down to 4500 and remaining there for end of this year.

Well we've seen two corrections in a span of 3 days, not a good sign at all for the crypto market.

In fact this could potentially be the pop of the bubble. I think we may see one or two more bull waves before this thing ends but it could well just break the floor due to people panic selling, and resulting in a long squeeze.

I generally agree with what alyssa said, short term if we could recover quick enough then we would be testing out $4500 once again. If not, then we could go down to $3500-4000 range.

Regarding bitcoin - it will test the support at around $4000. Because it's currently at $4300, it could take about two weeks to drift down to $4k. After that is anyone's guess. If the support proves robust, it will shoot up again. If it falls through the support, it will test $3800.

since we are still in rally mode and so far there is nothing to prove otherwise, I say about a week.
looking at the charts it usually takes as much too.

usually when bitcoin goes down altcoins go down with it too. if a dump happens ETH gets dumped even more.

but with the fork of ETH on the way things may be different. I don't yet speculate which way but there will be a drastic change in price it can be a big drop because they are killing mining or it can be a big pump because temporarily people think they can make more profit out of it.

in any case don't try to plan just base on how bitcoin moves.

The bitcoin correction will influence the dollar value of ethereum. I think that already run in this time, you should go to the coinmarket cap and see the price of ether gets plunged. If the metropolis will be happening and that will gives the biggest hype for the ethereum.

Yeah, I have a feeling this isn't going to be much of a correction...but I could be wrong.
I think what's happening now is just a dip, a small correction.  If it doesn't get worse than this,
that'll be something.  Sentiment is still very bullish on bitcoin, and I suspect this is just traders
taking their profits.  Normal and healthy.

OP, I think you should buy now.

It's very hard to approach this because the market is now tryin to establish an equilibrium. Once it's created, we'll see the action more easily. I think there will be another strong correction before November, probably on mid October.

Then we will see bitcoin's rise after November action.

My suggestion to you is to buy some bitcoins and only keep them in your bitcoin wallet and after 5-10 years you are millionaire but dont go all in only in bitcoin coin because it is better to trade with altcoins and also have some bitcoins because then profit is then more better what you can see from revenue which you make in short term but with btc you can only make revenue right now in long term only.

Usually yes, the bitcoin correction is going to affect the eth price, but both of the coin got a lot of users, so eventually the price will go up again, so dont be afraid to buy and store these coins and the correction usually last for 4 or 5 days

that is what i am also sure that bitcoin price  will continue increasing for a long, i think that the price of bitcoin can take a little correction but after a slight fall it will continue increasing again and hope that this time will hit 6000$ in few weeks may be even in this month. i think we need to hold our bitcoin for a long time and not to come in panic and to sell it.

I love eth, and keep holding it for love, but I figured out that for business, btc is the real thing.
I have no idea how ETH managed to get to 400, given that is not meant to store value (infinite tokens) but as fuel for projects. You could argue projects become a lot and demand a lot of eths... but all the failed (paid) projects take a toll on ETH as well. Just my thoughts...

It's hard to define what a correction is anymore with bitcoin. It's rise in the last year has been meteoric, even if it were to drop a thousand or two in fiat terms, it would still have made a 200%+ rise annually. It's better for smaller bubbles to pop occasionally, because the bigger ones will make a greater mess.

I do expect the market to experience a stagnant period, even till the extent of a decent correction in worst case, but the upcoming hard fork is very likely the last serious event that may put the market in a negative light again. After that, there is nothing that will hold Bitcoin back from growing further in the coming few years. If more pools are pulling back from their initial hard fork agreement, we'll be even in a much better position. If the price happens to correct itself further in the coming days/weeks, then it should be seen as an opportunity to buy coins at discount levels -- people for once shouldn't see corrections as a bad thing.

That is just wishful thinking. Apart from the scaling debate blowing up again, there is no meaningful reason why Bitcoin should crash. There has been some pull back in the price, but that is mainly due to profit booking.

I thought eth could break 450 till the end of September due to metropolis, but now not sure,  hope it will be able to resist btc correction. 

I think while we're observing btc crash, ethereum will make an explosion. Ether price will be increasing to 500 bucks after bitcoin crashed because bitcoin whales will exit from bitcoin to enter ethereum.

maybe btc prices will continue to increase now aja price 1 btc very expensive so where people who have coin now is very lucky ,, can coinnya sold expensive.

Thank you for your response, lets hope then for the best and quick correction

Someone probably got a bit trigger-happy on the market and started to buy when there wasn't support for the price it was being pumped to, so this could be a very long correction, or you might have just seen a small bubble that popped in the market. That's the most likely thing that happened, anyways.

BTC corrections and increases effect all other cryptos, typically they both have a negative connotation though. If BTC goes up others go down, and if BTC goes down typically alts go down too. Stability of BTC makes sure alts trade in their own ways.

Hi everyone. New in crypto and very enthusiastic about it. Have some questions as  lately bought some btc. How do you think guys will present correction of btc take much time? As I hopped to buy some eth also before the Metropolis. Can this correction of btc influence eth price so that metropolis release will have no effect on eth price? Thank you for any thoughts.