How low will the next correction/dip be?

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: danherbias07 on June 08, 2017, 11:13:09 PM

Corrections?
I havent read anything about bitcoin price being corrected.
Can you please lead me to a link to where I can read about it?
Didn't hear about something like since I started here. Who invesnted this newly created word for bitcoin pricing?

"What is a 'Correction'
A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a recession, but it can be a precursor to either."

the same is true about bitcoin price, sometimes with a little bigger percentage since bitcoin market is much smaller than any of the markets listed in that quote.

https://www.google.com/search?q=what+is+price+correction
specifically this link: http://www.investopedia.com/terms/c/correction.asp

this word existed for nearly as long as trading existed, you just weren't aware of the concept.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Corrections?
I havent read anything about bitcoin price being corrected.
Can you please lead me to a link to where I can read about it?
Didn't hear about something like since I started here. Who invesnted this newly created word for bitcoin pricing?

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: rickadone on June 08, 2017, 09:57:55 AM

Quote from: Wind_FURY on June 08, 2017, 12:17:43 AM

It would be stupid of us to make projections without at the very least assuming why Bitcoin will dip in price. Now we all know that the UASF will happen this coming August 1, if that is the catalyst for the dip and if that causes the blockchain to split in 2 indefinitely how low do you think the dip will be? Take not that I know the blockchain split is more of an assumption than an upcoming dip. But it is possible.

But markets are known for daily ups and downs. You cannot complain why prices are falling down for no reasons. Because there would be lot of hidden reasons for daily ups and downs. Even traders do not share them among traders too. Profit booking/panic selling are few of daily happens to trigger some fluctuations.

As of now there are no big negative news hence we can expect prices to consolidate around $2700 levels before getting ready for another rally. Breaking of $2600 might lead $2400 range of corrections too.

That is what I am precisely talking about. All our projections are useless to act on if we do not have full capability to predict the future. The UASF on August 1 could make Bitcoin crash for all we know.

White sugar

legendary

Activity: 1232

Merit: 1005

There is no way to know for sure.

But I think once the $3000 is broken, then the correction won't be lower than $3000, at least for now. Just my opinion

jc89

sr. member

Activity: 364

Merit: 250

We just experienced a correction recently and I think that we will not experience correction that too soon. The ups and downs we are currently experiencing is due to the growing community and market of bitcoin. So we can safely say that we are on a normal day. If ever a correction will occur, I believe that the price of bitcoin then will be over 3000 USD and the correction will fall between 2500-3000 USD.

CyberKuro

hero member

Activity: 798

Merit: 506

Quote from: Kakmakr on June 07, 2017, 06:52:58 AM

I will be the optimist in saying that we are not going to see the normal spike&dip trend that we are used to. I think from now on we are going to see smaller spikes and smaller dips than usual. The increase in the price we are seeing now, is not just linked to single events where hype are used to push the price. We are seeing the result of real adoption taking place in several countries globally.

This is going to slowly increase in value over the next few months. ^smile^

That's what happens right now, small fluctuate within $100-$200 and sometimes over $250 decrease.
What we need is big whales or a good news about bitcoin development, then people will trigger to invest/buy again, maybe in 1 or 2 months later. After rally, a correction will happen again but I hope it won't drop below $3000.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: Wind_FURY on June 08, 2017, 12:17:43 AM

It would be stupid of us to make projections without at the very least assuming why Bitcoin will dip in price. Now we all know that the UASF will happen this coming August 1, if that is the catalyst for the dip and if that causes the blockchain to split in 2 indefinitely how low do you think the dip will be? Take not that I know the blockchain split is more of an assumption than an upcoming dip. But it is possible.

But markets are known for daily ups and downs. You cannot complain why prices are falling down for no reasons. Because there would be lot of hidden reasons for daily ups and downs. Even traders do not share them among traders too. Profit booking/panic selling are few of daily happens to trigger some fluctuations.

As of now there are no big negative news hence we can expect prices to consolidate around $2700 levels before getting ready for another rally. Breaking of $2600 might lead $2400 range of corrections too.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

Whether it drops or not or even to a an amount lower that what we have up there does not matter but what matters is the reaction of the people to it. If the reaction is like " its one of those periods" then we are bouncing back in no distant time which is something I am sure of. But on the other hand if its where the confidence is lost, and the prophets of doom succeeds then I see a further dip which might take longer period to recover.

maku

legendary

Activity: 1288

Merit: 1000

Bull race is still on. Currently we have minor pull back, in times like this usually we see more bulls join the race to resume price climb.
We would have new ATH by now if not by that awful tweet from Mark Cuban, when he said that cryptocurrency is 'More religion than asset’

reflector

sr. member

Activity: 826

Merit: 263

Quote from: Vixmore on June 08, 2017, 05:46:26 AM

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

I think that the next correction will be when we hit 3000 dollars. Then I fell it will drop back down to 2500-2600 and then slowly it will rise back up again maybe to around 3500 and then drop again. That is just my view of course. Others may, and probably will, think differently.

Price fluctuatations are always on bitcoin and alts such ETH, Dodge and dash. I think bitcoin value will turn to higher and higher only in upcoming years. We are keep on getting adoption in bitcoin on everyday. I hope no more dump should come because I may utilize my holding and make profit.

Vixmore

sr. member

Activity: 322

Merit: 250

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

I think that the next correction will be when we hit 3000 dollars. Then I fell it will drop back down to 2500-2600 and then slowly it will rise back up again maybe to around 3500 and then drop again. That is just my view of course. Others may, and probably will, think differently.

cafucafucafu

hero member

Activity: 812

Merit: 509

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

I really can't see bitcoin hitting that $3,000 barrier. Even if it does it'll be so brief that it makes no differenc in the end. However a correction seems to be looming over bitcoin. Personally, i don't actually think that we need to worry about this correction. Or at least losing sleep because of it, that sort of thing.

First of all, i think that it is established that bitcoin ain't going anywhere below $2,000, period. That seems to be the consensus floor for bitcoin right now. So if you buy now, the worst you'll do is lose $700 per bitcoin. That's not bad of a percentage loss compared to the 2013 pump. Also, the price is quite stable at the moment. Been at the same sort of price, hovering at $2700-2800 for 2-3 days now. Maybe this will just become the new norm.

I'd put my money on $2000-$2500 though, seems the most logical.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: dakiller on June 08, 2017, 03:32:24 AM

Dip to 4000-5000 Cool

A dip is usually downwards, not upwards! Cheesy

4-5k is way too optimistic for this year. I would say we can all here say and speculate whatever we want. Fact is that no one knows what's going to happen in august. So any predictions further then to this month make no sense imo.
We will have to wait and see.And cross fingers for the best of course! But also be prepare for the worst!

dakiller

member

Activity: 174

Merit: 10

Dip to 4000-5000 Cool

lumeire

legendary

Activity: 1848

Merit: 1009

Next-Gen Trade Racing Metaverse

Quote from: X-ray on June 07, 2017, 09:36:26 PM

Quote from: MrBig on June 07, 2017, 05:27:22 PM

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

I think it'll dip down to between $2100 and $2300.

I think so, because the price of bitcoin has a lot of resistance. ABout the upcoming adoption by the new countries will make the price get pump again. $2100 is tolerable range in my opinion. it will never less than $2000

Actually a dip below $2k is very much feasible. This space is very volatile, 1 bad news can bring it below that level easily.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

It would be stupid of us to make projections without at the very least assuming why Bitcoin will dip in price. Now we all know that the UASF will happen this coming August 1, if that is the catalyst for the dip and if that causes the blockchain to split in 2 indefinitely how low do you think the dip will be? Take note that I know the blockchain split is more of an assumption than an upcoming dip. But it is possible.

richsoon

member

Activity: 118

Merit: 100

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

I think around $2000 will be the new low unless the next correction/dip is a huge one. I guess it also depends on how much bitcoin pumps along the way cause the quick corrections and dips don't normally take off more than 20-30% of the price.

X-ray

hero member

Activity: 3066

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: MrBig on June 07, 2017, 05:27:22 PM

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

I think it'll dip down to between $2100 and $2300.

I think so, because the price of bitcoin has a lot of resistance. ABout the upcoming adoption by the new countries will make the price get pump again. $2100 is tolerable range in my opinion. it will never less than $2000

Heyo:P

newbie

Activity: 38

Merit: 0

Quote from: Shawns on June 06, 2017, 05:15:50 PM

We're experiencing an amazing growth to almost $3000,- today, but we all know that it will have some corrections here and there.

How much do you think it will drop? <$2000,-? $2000-$2500?
or maybe $2500-$3000,-

My vote is that we're going to continue to climb. We've been going up and don't seem to want to stop; besides even if we do start to drop I'm sure it'll pick back up again and we'll hit 3000 in no time.

Ken1022

newbie

Activity: 56

Merit: 0

Quote from: lumeire on June 07, 2017, 07:18:55 PM

Quote from: Pearls Before Swine on June 07, 2017, 06:11:41 PM

Quote from: Rub3n on June 07, 2017, 06:53:37 AM

I think with the recent increase of attention (thanks to the current price for example) the buy orders will flood in before its hitting 2k again.

Yeah, I have a feeling that we won't dip as low as $2000. It's just a gut feeling and I present it without evidence, but I think this current dip with be no lower than $2500. And after that I think we're going to be on the rocket to $5000 within a few months. Wheeee.

$5000 is much more feasible for the next halving IMO, it's just too early for that price, especially now that very high fees has been an issue.

I agree with most here, it's quite unlikely to see the 2000$ value again anytime soon. This year (and I think last year?) has had nothing but up trends accompanied by a few healthy dips in price. In my opinion, the mere fact this is happening passively raises the average value of the lowest that btc may fall into.

Sorry if this may seem like a stupid question, but when is the next halving happening? Was there an appointed month or year for it?

Topic: How low will the next correction/dip be? (Read 1450 times)