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?

lumeire

legendary

Activity: 1848

Merit: 1009

Next-Gen Trade Racing Metaverse

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.

shintosai

hero member

Activity: 756

Merit: 500

i love how people around talk about this action from btc price and like what happen from the past after the huge pumped correction will happen and what is good is wait for the dip right now i still seeing possibility to fall down up to 2200$ just a personal though its possible just depend with newcomers and adopters whether they will buy to this level or they will continue waiting for much deeper.

BitFinnese

copper member

Activity: 1050

Merit: 500

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.

I agree it is far to see a dip below $2000. Bitcoin is quite bullish now, so the dip that we experience is just some minor correction before Bitcoin move up again. I also agree that it is a slim chance to see Bitcoin going down below $2500 since the upcoming news about Australia acceptance to Bitcoin taking effect shows a bullish Bitcoin that can possibly double the price of Bitcoin so $5000 Bitcon withn a few months is very possible.

Pearls Before Swine

sr. member

Activity: 1190

Merit: 306

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.

Hutalar

sr. member

Activity: 420

Merit: 250

The corrections often do not go down too much but a little and the reason that sometimes the price go lower with the correction is that some people start to worry about the price and they immediately start to sell their coins and then with it everyone know that the price start to go down until the demand in increased again.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: kwukduck on June 07, 2017, 05:44:43 PM

-snipped a bunch of nonsense-
For the upcoming 24 hours we can expect 2100-2200.

And there we have kwukduck come out of the closet now the price is going slightly down due to traders liquidating profits. It's funny how you turn something that is completely normal in a market that has gone up quite a bit, into something so dramatical/negative. I didn't want to quote anything from your post, but that lousy prediction is something I will shove into your mouth with a bunch of soap, exactly 24 hours away from now.

kwukduck

legendary

Activity: 1937

Merit: 1001

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.

Probably much lower, at least significantly under 2k
We see already now it's dropping really fast with big volumes being dumped.
Don't believe all the lies about the Chinese not leading the market anymore, just look at trading volumes, the Chinese are still in control and there's nothing happening that causes a legitimate price rise, it's all a pump and dump as we've seen before, classical pnd patterns are clearly visible in the charts as we've seen before.
For the upcoming 24 hours we can expect 2100-2200.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

It seems we have seen some correction today. From $2800+ bitcoin is down to $2600. It seems the price increase is quite fast that it needs to set back and have some dip as correction happens. Though I do not think that bitcoin will fall back below $2000 insead I am seeing that it will break $3000 soon.

MrBig

sr. member

Activity: 369

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

Sundark

hero member

Activity: 560

Merit: 502

As always dips and retracement levels are hard to predict. So far we can see only strong technical indicators suggesting that Bitcoin is growing.
I expect that will see only a minor temporary pullback, because we have more and more buyers joining in the action.

Red-Apple

hero member

Activity: 1470

Merit: 655

first let the price rise happen and then wait for correction. you are now waiting for effect before the cause!

and the correction and price after it will depend on how high it will go.
as an example you can look at the price rise from $1200 to $2700 the first time. the rise had many steps and many smaller corrections where price went $100-$200 and came down a little for hours and then continued up, these are corrections by the way. and then after the big leg up to $2700+ it came down and caused a lot of panic sells and price momentarily reached $1900 and bounced back right above $2000.
and then we saw a nice rise to $2300ish.

the same scenario will be true this time too. rise is happening the same so far. a bigger rise to $2900is and correction back to <$2850 and will probably continue upwards.
maybe break $3000 and try $3500+ as ATH and come down, maybe more. it is not possible to tell right now.

Rub3n

hero member

Activity: 565

Merit: 501

S> Cheap SocialMedia Hype's

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.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

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^

MMysterious

sr. member

Activity: 972

Merit: 255

Bear season or just the beginning

Quote from: Ayiranorea on June 07, 2017, 05:55:03 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,-

If some corrections happens same as the past, surely it won't go beyond the limits. Particularly at any instance it won't fall beyond $2000, because the past price correction happened once the price was nearing to $2800. Today we're little away getting closer to $3000.

I agree, and most probably and hopefully it'll just be around $2000 though based on how much btc is as of now. But we will just have to wait after the correction and see how much it'll drop to.

Ayiranorea

sr. member

Activity: 1246

Merit: 255

Leading Crypto Sports Betting & Casino Platform

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,-

If some corrections happens same as the past, surely it won't go beyond the limits. Particularly at any instance it won't fall beyond $2000, because the past price correction happened once the price was nearing to $2800. Today we're little away getting closer to $3000.

Shawns

member

Activity: 109

Merit: 10

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,-

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