Crash or Correction - page 3. | Bitcointalksearch.org

richardsNY

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Quote from: m1c0 on December 01, 2017, 08:34:03 AM

I expected a way more correction/crash at $10k to maybe $6k but it seems it won't happen anymore.

It seems that the general public was assuming that there would follow a decent correction after hitting the $10,000 level, but it didn't. In previous market it would likely correct and go down in a matter of days, maybe weeks, but not in today's market. The demand is far too strong to let the market fall down too much -- every dip gets bought up quickly since they grant people a lower entry point. Now CME will for sure allow Bitcoin futures to be traded, and from there institutional capital that will flow into this market, the chances for a correction have been lowered significantly. On top of that, next year we'll have Nasdaq do the same, which again will get this market pumped up.

dmamigo

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This was just another set of Panic after a huge and fast rise of the value. Investor, specially newbies sold it in fear and traders for short period of time also sold their share to gain their targeted value. It was a kind of short crash, but its better to be termed as correction. As in basic terms in market this usually happens and its common.

skorupi17

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Quote from: hugeblack on November 30, 2017, 06:36:15 AM

The price of bitcoin fell more than $1,000 in the span of about 10 minutes on the CoinDesk Bitcoin Price Index (BPI) today, just hours after the cryptocurrency set an all-time high above $11,000.[1]

2017-11-26 price was 8,200$

2017-11-29 price was 11,000$

2017-11-30 price 9,800$

Is this crash or small/huge correction?

Source [1] https://www.coindesk.com/bitcoin-price-falls-1000-minutes-erase-24-hour-gains/

This is a crystal clear correction. 11,000 to 9,800 is just around 10% decrease. Not a that big to be considered as a crash. I suppose if the decrease is at least 50% then we could consider that the decrease is a crash. Come to think of it, this type of happening (correction) is always happening when Bitcoin reaches an ATH. That's just how Bitcoin's price works.

Quote from: davecrypto on December 01, 2017, 08:48:55 AM

I am amazed that people are so stupid and don't get simple trading basics.

Not every member of this forum is a trader.

davecrypto

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I am amazed that people are so stupid and don't get simple trading basics.

Every pump is followed by a bigger dump because people are feared all the time.

It's just stupid - but good for me because I sell high and buy back the dip. Grin

m1c0

jr. member

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for me it looks like a mini correction as some whales wanted to sell. I expected a way more correction/crash at $10k to maybe $6k but it seems it won't happen anymore.
Need to wait until monday I guess to be sure

Reid

hero member

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No such thing as correction. Are you stating they did something wrong to correct it?
This is money we are talking here and they cant just be wrong with every cent of it.

It is just a possible selling group have done it in panic.
Therefore it is really a crash. Well now, they can buy back and enjoy the profit they made.

iamTom123

hero member

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There are many people who will definitely called it as a major crash because they are basing the same experience to that of stocks, forex and some other derivatives markets. Those who are into traditional investment vehicles would really be shocked at such an occurrence because in their platform the same thing may not be normal and can indeed be alarming.

In Bitcoin and in cryptocurrency in general, such a thing is just a correction or a dip and every dip is actually an opportunity to buy more Bitcoin at a cheaper rate expecting that soon it will rise again. This is exactly what happened right now as Bitcoin is back again at the $10,000 level. I am sure many made a good money with the latest correction...and this cycle will go on for eternity or as long as we have Bitcoin or as long as there is a high volatility present in the market.

Honestly, am getting tired of people who expressed concern about Bitcoins' volatility. We should accept that it is part and parcel with Bitcoin and instead of being alarmed and spreading FUDs we might as well take it as an opportunity to invest more and make some money in the process.

azguard

legendary

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Crypto-News.net: News from Crypto World

This is correction small one off course, if this was crash price would went huge bottom and hitting maybe 2000 to call it a crash.
We saw this in last few month several times but now its a big deal cuz price for the first time reach 5 digits and when went down this is crash.

This will be in motion until Christmas then we will probably see huge correction in price.

AidenCasanova

member

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i think this is still a small correction, market still waiting for another whale to make a position (always follow big market but think smart, some time they try to trick us to follow the opposite)
profit taking is always there in open market, forex, stock or crypto or another
always try to get new information and analyze the movement, because correction can turn the table into crash movement after some time when it failed to get higher, market will tired and take the opposite
CMIIW

lablab03

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For me maybe this is crash is normal. And also it always happened which is when bitcoin Fall soon it will recover or It will surpasS again Like what happened in the first week of November. Bitcoin suddenly fall then after 3 to 4 days bitcoin value surpass 10k. Maybe this scenario is a correction which is Maybe it gaining some strength to surge again

cupic

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Corrections are generally temporary price declines interrupting an uptrend. Correction Vs. Crash.

A market crash is when the 10 per cent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 per cent, for a total decline of 20 per cent or more.

Despite the inherently uncomfortable nature of watching an account balance drop by 10% or more, market corrections can be healthy for both the market and for investors.

lienfaye

hero member

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As expected its a price correction after hitting the $11k value. Some short term investors who set a target price sell their coins when its on the peak value which also has impact of the price movement.

Wait for a few days or weeks and it will bounce back again with even higher value hopefully. Im seeing this moment as an opportunity to buy more bitcoin.

marseille

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Quote from: jtipt on November 30, 2017, 10:01:27 PM

Seems very obvious that this is a correction. The price is just floating around 9k-10k, and I don't think it will drop below 9k. Anyways, a correction was expected after such a huge rise and if the price doesn't drop below 9k then this will be a great correction IMO.

Yeah and price is moving slowly again so I don't think there is anything to worry and in next few days we may see again price going $10k and it won't go below $9k for sure so the best thing would be to hold our coins and see what price it achieves in next couple of days and depending on that you can take your decision whether to sell it or hold it longer.

STT

legendary

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Quote from: DustyRah on November 30, 2017, 03:06:51 PM

Quote from: mobnepal on November 30, 2017, 01:33:18 PM

I am buying at current prices and will not sell below $15k in future. Wink

And therein lies the genius of trading Bitcoin. Just HODL till you get the price you want. I am not sure there are other commodities where such a strategy would work but it will work for Bitcoin.

Sounds too simple to me, complacency is what makes me bearish overall. I dont assume Bitcoin experiences real growth, in any case crypto overall could grow with BTC a smaller part of that. If efficiency in use lies elsewhere thats what I expect to happen.

Right now for price, I see it as quite a mild pullback relatively. ATH is 416% of the Sept China ICO ban, the next level to that being as low as 8169 but thats normal with such rapid price movement. To retrack and confirm pricing is fairly positive.

I drew in a downtrend from ATH and I'm looking for it to confirm above that. I see it outside a channel but sideways and uncertain for the moment. This matches previous behaviour I've observed after pullbacks, I wont assume BTC finished selling but sideways relative to a previous regular lower high movement can be a good base for future gains

jtipt

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Seems very obvious that this is a correction. The price is just floating around 9k-10k, and I don't think it will drop below 9k. Anyways, a correction was expected after such a huge rise and if the price doesn't drop below 9k then this will be a great correction IMO.

Rahar02

hero member

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Quote from: alyssa85 on November 30, 2017, 07:48:56 AM

A crash is a drop of about 30% or more. That would take bitcoin to about $7700. The price is around $9700 right now - so it's a correction, and it's consolidating between $9000 and $10,000. Which is fine. It went up just too fast.

Agree, bitcoin price still above $9000 which is a high price since bitcoin has leapt from $8200 to $11,000 within 3 days.
It's small correction until the price drops back to $8200 again, and consider as a big correction if it falls less than $7500.
It's a crash if bitcoin fall 50%, below $5500. But, we won't see it happen I guess, who wants to sell bitcoin if they know the price will skyrocket in this month? Normally, it will work like that, and we will see what happens after bitcoin futures launched in this month.

rjbtc2017

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Definitely a correction, earlier it touched $10K again, and now it's down on $9.7k , BTC have been rallying up too long and have been touching new highs, i think it is time for Bitcoin to rest on rallying and go back again. I'll speculate that it will continue/resume on rallying before December Second Week, the implementation and the launch of Bitcoin futures-- as the CEO said that they will list it on Second Week of December. We should not be panicking now, Bitcoin will recover within this week or next week, CME hype is not yet dying, more money will flow and more investors will buy Bitcoin because of it's low price today.

jinksters09

member

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More like of a correction cause day by day many more people are getting attracted in investing in bitcoins maybe the price was correct because the price of 10,000 USD was so sudden the rush for price indication was happening so fast which is why it is necessary for bitcoin price to be corrected in the cryptocurrency world.

BitMaxz

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Playbet.io - Crypto Casino and Sportsbook

Honestly when i was awake yesterday i was so excited if what is the present price but i was shock to see that the price was hit $11k for few hours after hit 10k it continue to increase until 11k but after few hours i saw a large price down or crash yesterday that i thought that the price can be increase back and hit $11k i lose the opportunity to make small amount of profit and exchange my bitcoin once the price was drop but i lose the opportunity.. and i saw the market that there is a group that can manipulate the price as i seen in the market i saw some other could buy almost 1k amount of btc or more or sell more than 1k amount of bitcoin in the market so i think there are people are holding a lots of bitcoin and use it for dumping when the price is increase too fast maybe for price correction..

Cacingkemi

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Quote from: hugeblack on November 30, 2017, 06:36:15 AM

The price of bitcoin fell more than $1,000 in the span of about 10 minutes on the CoinDesk Bitcoin Price Index (BPI) today, just hours after the cryptocurrency set an all-time high above $11,000.[1]

2017-11-26 price was 8,200$

2017-11-29 price was 11,000$

2017-11-30 price 9,800$

Is this crash or small/huge correction?

Source [1] https://www.coindesk.com/bitcoin-price-falls-1000-minutes-erase-24-hour-gains/

This is only a decline between one group and not a small correction,some have sold their assets but only partially and this will continue go to beyond 11K$ see current prices since this decline will continue to increase you should buy again now.Because a correction will not take place quickly like this.

Topic: Crash or Correction - page 3. (Read 1775 times)