I agree with you bears looks tired now. And we have seen a decemt bounce upto 7400+$ yesterday. So i think we are bottomed out we may see some more downtrend and sideways movement for bitcoin for few more days.
Bullish sentiments are starting show though and i am very much confident April end and may starting week will be good for bitcoin.
Topic: End of the correction? - page 2. (Read 279 times)
The correction have ended with 10k$ as a value for bitcoin. But it did not stabilize as bitcoins price have slided down to 6200$. The reason at this point is not the correction but rather the panic selling of bitcoin holders due to the issue of banning cryptocurrency related ads and ICO's by google, twitter and facebook. Many investors also have been discouraged and ended up selling their bitcoins in the market resulting to the down fall of bitcoins value.
I agree with this. Those newcomers that bought at around 19k would have probably been devastated as they saw the price drop and have been waiting for any small recovery to sell out and "cut losses". The significance of the ad ban was overplayed though, EU is starting to study how to regulate bitcoin and some exchanges are moving to Switzerland so it's not really all gloom and doom in the horizon.
Look at the price chart last 2 years after the block halving. This is one of the reasons why the price burst increase until 2017 and now we experience a price correction and now for me, the movement of the price is normal and I think we will see huge movement again around November and December just like what happened years ago.
The correction have ended with 10k$ as a value for bitcoin. But it did not stabilize as bitcoins price have slided down to 6200$. The reason at this point is not the correction but rather the panic selling of bitcoin holders due to the issue of banning cryptocurrency related ads and ICO's by google, twitter and facebook. Many investors also have been discouraged and ended up selling their bitcoins in the market resulting to the down fall of bitcoins value.
I agree with this. Those newcomers that bought at around 19k would have probably been devastated as they saw the price drop and have been waiting for any small recovery to sell out and "cut losses". The significance of the ad ban was overplayed though, EU is starting to study how to regulate bitcoin and some exchanges are moving to Switzerland so it's not really all gloom and doom in the horizon.
Seems to be going down again this time. Bubble has bursted people. Still waiting for the bottom and then buy again.
Bitcoin has just bounced, lets see if the bounce can break the resistance levels. If the resistance at 8k doesnt break. Then we can see Bitcoin at 5k or 3k. If the resistance price breaks then Bitcoin party!
The correction have ended with 10k$ as a value for bitcoin. But it did not stabilize as bitcoins price have slided down to 6200$. The reason at this point is not the correction but rather the panic selling of bitcoin holders due to the issue of banning cryptocurrency related ads and ICO's by google, twitter and facebook. Many investors also have been discouraged and ended up selling their bitcoins in the market resulting to the down fall of bitcoins value.
$600 will decide the fate of Bitcoin. If Bitcoin survives, it will be just a low level speculative asset and it's price range will be $600 to $1000
Bitcoin went up from $1 to $10,000 in 9 years (super-hyip)
Bitcoin went up from $1 to $10,000 in 9 years (super-hyip)
I do not think soo , correction will be 2-3 months more i think , we need to get bitcoin to have some rest before he would get new money come to this markets and starting rising again.
Hello crypto lovers. I believe that we are nearing the end of the correction, which has lasted for only 3 months but was extremely painful and seemed prolonged!
I want to put forth a few points on why I believe that we are nearing the end of the correction in big-daddy BTC. If I may say so, Bitcoin has held the whole alt-coin market hostage. This coupling with Bitcoin however wont end in the near future for reasons well known. For starters, we are talking about a crypto currency which started a revolution.
Bitcoin last made a low of 5967 in the previous leg and in the current downward move made a slightly higher low of roughly 6400. We have more or less a double bottom situation in Technical analysis parlons.
Median corrective moves since 2010 have roughly been 70%. There has been a 72% correction in the overall cryptocurrency market. This has happened without any major reason apart from the Ghost of Mt. Gox coming back to haunt the market again.
Another significant reason is that Institutional money is simply waiting on the sidelines to enter. However I feel that they won be making any significant investments without regulatory guidelines.
Lets wait and see whether this indeed is end of the correction or there is more pain to come.
I want to put forth a few points on why I believe that we are nearing the end of the correction in big-daddy BTC. If I may say so, Bitcoin has held the whole alt-coin market hostage. This coupling with Bitcoin however wont end in the near future for reasons well known. For starters, we are talking about a crypto currency which started a revolution.
Bitcoin last made a low of 5967 in the previous leg and in the current downward move made a slightly higher low of roughly 6400. We have more or less a double bottom situation in Technical analysis parlons.
Median corrective moves since 2010 have roughly been 70%. There has been a 72% correction in the overall cryptocurrency market. This has happened without any major reason apart from the Ghost of Mt. Gox coming back to haunt the market again.
Another significant reason is that Institutional money is simply waiting on the sidelines to enter. However I feel that they won be making any significant investments without regulatory guidelines.
Lets wait and see whether this indeed is end of the correction or there is more pain to come.
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