Topic: Healthy Pullback? Bitcoin Price Dips Back Below $5,300 (Read 788 times)

Yes it was a minor correction and it was good because it helps in stabilizing the prices and overall the demand and supply can be meet else it can happen that there are only sellers or only buyers in which either the price will steep rise or fall back badly. Though currently btc price is almost at 6k now. So good upward movement happening now.

Every one anticipate that after the pump bitcoin does in the past few weeks a dump will come soon this is how the market of bitcoin or a cycle of bitcoin and yes it is a healthy pullback after all opportunity opens when bitcoin price goes down and then a good profit to harvest when the value goes up again.

It was a healthg pullback since the pricing went up as fast as it went down. Now the pricing is at $5719 and I think it will skyrocket since China is going back to the scene.

I'm not sure I understand...how do you think this is happening?  If people are dumping their bitcoin gold for alt coins, then it shouldn't have any effect on the price of bitcoin.  If people are dumping their bitcoin gold for bitcoin and then using that bitcoin to buy alt coins, that still shouldn't have a net negative effect on the price of bitcoin.  If anything, I think people are looking at how beaten down alt coins are and using some of their bitcoin to buy the alt coins, regardless of bitcoin gold.

What matters the most is that we are awared that it will eventually increase again, maybe after the hardfork. It is just the same with what happened last segwit2x. And I think its value will only drop down to 5000$. It won't fall that much since the dump is only resulted by the incoming hardfork. The best thing is to hold and watch what will happen next.

Has anyone noticed that the price has only been going down today? All the people is using their free money from bitcoin gold to invest in altcoins, and this is what is making bitcoin bleed.
But this was necessary, maybe i am being negative about this dump, but if we look at the charts, yes, it was necessary because we were in a bullish trend for more than two weeks, and we have never seen a dump before this fork.

While any of those things you mentioned could cause a drop to $5k, I don't think anything specific is necessary.  We've established a range between $5000/$5100 and the ATH around $6200.  I think that dipping to $5k could happen simply as a result of the normal intraday price swings that bitcoin experiences.  Dipping below $5k significantly will probably take some kind of specific catalyst.  However, one should also keep in mind that all it takes for the price to fall is for enough people/bots to start selling.  Not even bad news is required.

hey guys

i was playing a little bit with the BTC/USD chart and i think a pullback to around 5000$ would be p-r-e-t-t-y healthy.

the big question is how's that gonna happen?

Zicadis already mentioned bad news.

what about the two forks? do you guys think that the bitcoin gold fork will dip the price that hard? or will it stay strong?
will the segwit2x fork drag the price down to 5000$, or will our beloved bitcoin be enough strong to substain a higher price?

something in my guts tells me it's gonna dip hard anyway. but its hard for me to see it clear, what could it be.

It was a healthy pull back, considerig that a lot of people want to buy at a lower price before the airdrop, i think for now, the price will not go any lower than 5000 usd, and after the airdrop, the price of bitcoin might rise and will have another correction. I think bitcoin goin below than 5300 usd, is showing that bitcoin is now having lrss volatility and will soon rise above 6000 usd, however it may take time, since bitcoin is showing lesser volatility, it may take months before bitcoin breaches 6000 usd mark, in which i can see is a good thing, people who wants to buy bitcoin at.this time, will have a chance to buy it at a price they want, however, it will not be lower than 4000 usd, like a few weeks ago. I think the price having 5000 usd and above is a reasonable price for all of us, if we take a look back on how bitcoin became so volatile, it rose up to 5000 usd, and yet it went down below 4000 usd, i think right now, the pull back has shown us the correction in the market and more especially, the price of bitcoin becoming stable, and showing lesser volatility than before.

Definitely was a healthy dip which should have been an opportunity for first timers to buy bitcoins while they are cheaper before going to the moon. And for the record, the price is now over $5600 and looks like the price won't be dipping any time soon. Just hope we wont be receiving any negative news to affect the healthy price.

Yes, this seemed like quite a healthy pullback, especially given how fast we shot up to ~$5900.  My only concern is whether or not a retracement to $5100 "counts" as a test of $5k.  Given bitcoin's volatility, it probably does, especially given the pop that ensued.  But I would be a little more comfortable if the low had been more in the $5000 to $5050 range.

Actually that's required for bitcoin to grow more, if the price keeps on increasing number of people who buy bitcoin regularly will decrease substantially. Whereas if there are regular drop or pull backs, then it would be customer friendly, and people will wait for the opportunity to buy more at a lower price, one of the very popular marketing strategies which works very well most of the time.

I am sure that this rollback is a natural pause before the jump. For all reasons of logic bitcoin can not go up in price at least until October 25. Subsidence rates may be related to the whales play in the market but they can't keep bitcoin down. I'm sure the rest of the week we will see the price touch the mark of $ 6000.

If we see the change until now it looks like it's back to increasing buddy, the price movement at now seen moving towards higher direction continues to be far away leaving of $5300. But I don't know it will be last a long time above $5300 or not, it seems yeah I think it can stay on top $5300.

Can't agree more than that.
This year's bullrun is how it is written in textbooks.
We move up, break resistance, create new ATH and test the former resistance as a new higher support level.
Rinse and repeat all the time this year. Beautiful stairway model!

these pullbacks are not only healthy but also necessary for the market to take a breath and correct itself. after each rise there should be something like this and it has always been so far. and this was one of the tiniest pullbacks so far with about 5% correction!

and since we don't have any kind of news so far to cause any kind of FUD and drop, this was 100% sure a correction and as you can see the recovery from the correction is also already done.

I think it was a healthy pull back. The price sometimes goues too high too fast and will then show a correction. This correction is very minor and therenot any recent bad news about Bitcoin, so I think this is normal. The price dropped close to $5100 and then increased, but it’s possible it will drop back down. I would not be surprised if the price went below $5000 at some point and even below $4000 is easily possible. I just look at those drops as buying opportunities.

Already jumped back again, I was expecting it to be happened caused by we are still not seeing the fork. Any correction that could be happened before the fork should be considered as a little correction. The price back again to the 5500 and my guess another dip will be following after the hardfork will have done just like what already happened at the bch hardfork.

It is a totally fine pullback,  a lot of people has been expected this becauae the price had been going up without stopping,  and this pullback can become the chances to earn some profit,  so it is a good pullback,  i expected it can drop until $4500, but after that it will come back stronger

I agree with you. The drop is just normal and it is healthy in my opinion. The current pricing drop is cause by some major hodlers cashing out money for their stashes. No need to worry since as of today the pricing is back at $5500.

Those who don't care about Bitcoin Gold and and are satisfied with this Bitcoin price rise are selling their bitcoins. I don't think the price will drop to less than 5000 dollar. Soon there will be another fork ( Bitcoin Segwit 2x) which seems that to be more attractive than Bitcoin Gold. This will cause the price to rise very much again. Price falling won't last long.

Of a truth bitcoin has a healthy pullback as we even have a pullback below  $5,154 around 3:pm gmt.However as at the time of making this post bitcoin has significantly recovery to close to $5,470.I do believe that traders are trying to take profits from the recent pump and nothing significant has happened. I believe in days to come we would witness another surge in bitcoin price. We are close to Sigwit2x activation and bitcoin gold 's splitting and in days to come we would see many whales investing into bitcoin in other to get free coins that will come out of the splitting.

As Bitcoin gains popularity and people are waiting for the dips, it's becoming harder and harder for the price to tank because there are so many buyers waiting to get in. We will keep see all time highs for many more months.

I think it is quite healthy. If it went too far up fast next fall would be too low in a fast way as well and people would panic.

What is also happening is that bitcoin is quietly regaining market cap. It went down to 40% in June, mostly lost to Ethereum and stayed below 50% for most of the Summer but it slowly and steady going up, currently at 55.1%

Yes, it was a good rally on the other side of side of the world.  . And it was fun to watch the price picking up then suddenly we are on $5400+ again. Marketcap is now $162B. Although the price is far cry from $5700-$5800, at least we are heading in the right direction. And wait till Japan and South Korea wakes up, I'm sure they will pick up what the Western side has left. And the community will not let the price go to sub $5000, we have work very hard to reach ATH a few weeks ago and we wouldn't let it go just like that. I just find it hard though, what causes this sudden slump that we are seeing, never heard any news that will really impact today's downtrend.

It's been between 5400 and 5700 for exactly 7 days.

That's hardly perpetual.

It looks like we broke downwards the forming ascending triangle, which is why we bottomed to near $5000:



The good news is, that bottom was probably it. Look how fast it has recovered from $5100 to $5400. Actually impressive:



As you see, we never went below the $5000 trend line on the daily chart, which means we have never stopped being bullish. This was one hell of a dip to buy, so congrats to buyers because we are going to test $6000 again soon.

There's really nothing healthy about it at all, as it was rendered quite moot as the price quickly climbed right back and is on it's way back to where it was to begin with.  I posted earlier that I see a decline happening (I refrain from referring to it as a "crash"), but didn't see it happening suddenly but steadily over the next few weeks and then possibly carrying on after the hard fork for awhile.  But what we just saw was exactly what I was talking about regarding more people getting into moving their money around that used to "hold" instead.  Especially those who got into the game late.

... but they really don't know exactly what they're doing, and miss the point.  Every time the price goes down 1 dollar they buy, then sell as soon as it goes back up 2 dollars.  The value will go nowhere at this rate, it's no wonder we see such stability lately.  And these people will never see the types of yields they want to see...  the type of yield you grab when the price drops from just below 3K to 2200, buy in at that price, then watch it soar to close to 4K and sell.  Then buy back in when the price falls down to the low 3000's, and watch it climb to close to 5K then sell again.  Watch it fall back down to the low-mid 4000's and buy back in, watch it climb just short of 6K and sell again, etc...  

That's the spirit.  That's where I'm at right now.  And here I thought this would indeed be a "healthy" correction for the movers & shakers, as well as the currency as a whole, luring in potential new investors... thinking I could buy back in once the price dipped down into the mid 4000's or so, but it was cut short by the noob movers & shakers with A.D.D. buying & selling habits.  At this rate the value will go nowhere... stuck in a perpetual range of 5400-5700.

Back up above $5400 on Stamp right now, pretty impressive recovery. The communkty says no to sub $5k

You have to understand that there are people looking to cash out their sub $2000, $3000, $4000 coins at current levels. Let them cash out and enjoy their profits, the strong demand, if it's maintainable, will push the price back a day or two later. It has been the case since we have gone over the $1000 level, and there is nothing pointing at something else -- this is how well increased markets react. It's nothing to worry about, we can't expect the market to keep hovering around the exact same levels without people looking to exit the market.

I considered that as a good scene. This way we can test how strong the support is at above $5,000.

For every massive hard pump, it was expected that dump will follow. For how long it will goes, no one knows. If the price will still say at the current rate for long period of time or a pump happened again then we can say that resistance for $5000 already takes effect and we just need to wait for another correction which hopefully will landed at close to $6,000 for about couple of months or less checking.

of course it's a healthy pullback,
because the price right now pumped due to chain split and another coin will created based on Bitcoin aka Bitcoin Gold.
it's just matter of time for Bitcoin to reach its peak again in the future.
expecting another flash crash in the next few days before hard fork or sub $5000 and then consolidated.
we will see another crash after the split later on,and only last for two weeks or a month.
because we will be facing segwit2x in the next event.
just hold it tightly if you do not want to lose it,or sell it right now and buy it back later

Healthy Pullback? Bitcoin Price Dips Back Below $5,300
https://www.coindesk.com/healthy-pullback-bitcoin-price-dips-5300/

Hmmm….how low will it go?