Topic: Long awaited Bitcoin correction(+) - page 6. (Read 1243 times)

Correct, i will believe the correction not too deep and bad since many trader are waiting the correction and buying again to push the price up.  Bitcoin has big community as back up to make the price stable in up price.

I have always had a great conflict when it comes to believing in any data that comes from that superstion called "technical analysis". I prefer to believe that many people invested in bitcoin earlier this year expecting a good return, and once they reached it when the price touched $20,000 a few days ago, they considered it the ideal time to take profits. Remember that Santa Claus also suffers budget cuts and bitcoiners parents have to pay part of their expenses these days! But in a few days we will resume the upward trend, without a doubt.

Yep, same thing, first loom of correction, i feel at the first week of december..
I think, target levels will be around 12-13, but with inertia it's very possible to hit 8-10, depends on news

The moment of that correction is already here. Personally, I awaited it two weeks ago. But I don't believe it will hit rock bottom to the point of $12,000. That level will be highly difficult to revisit. We should welcome this correction as it will further propel Bitcoin to a new ATH.

Yep, you on the right side) Better to save money and make no profit, than make a loss
My opinion, that BTC is over, couse now it comes out from childhood, where all trades was mostly in closed community, now it is more like officially accepted asset, and will go this way. And whole global fin system fights with volatility in the all assets, their just do not need high volatility, because it is a way for new capitals arise, and every new capital - is enemy for old. And they will do anything, to keep situation frozen.
All of us must take a look on the altcoins now, their in shadow now, and for now, nobody from outside IT world really understands what is it, and how much it costs. So move some of yours BTC(30% perhaps) to the alts, 30% to the fiat, and leave remaining BTC for diversification purpose, and you will be much safer with you holdings)

I agree that a pullback or correction is very likely because the Bitcoin price has risen so high so fast. It is the logical thing to happen. With that being said, Bitcoin is very unpredictable at least to me these days. The price seems to keep going up when you think it's going to drop.

I won't buy at prices this high and maybe I'll miss out if the price continues to $20,000 but the price just seems too high right now. I'm sticking with the Bitcoins I currently have and will only buy back in if there is a significant drop in price.

Btc started correction, i as think, next levels will be 11.5
Watch your money!

Yes, may be you right, i'm wrong, at least, price of everything it is just matter of greed of both sides, but i'm trying to tell everybody, that when you reach some level of wealth(and it is just a level your imagine), when you can tell, "hey, i think i'm reach. may be not enough, but.. i have enough to not think aboud food, living, i can help others", this moment, your life is divided into before and after. And, if something will drop your level back to the first part of your life - it is very heavy impact on to your mind. Your emotions. Trading is a very emotional kind of business, and only when you lost enough, you start to look more philosophically, but how many of us lose really big money(not mined cryptocoins) by crypto-trading? Negative experience is must have for proffesional trading, you can not win always. No one can. And that's why there are so many math rules to limit risks when you are trading.
Too many people with flames in their eyes is around, telling 30, 50, 100, 1'000'000, hodl forever and etc. But do you ever think, that those guys persuade just one target - move price so high as they can just speaking, and speaking, and then they will bail-out first(may be they already are). Do you think that you will fast enough to sell before them, or with them? Do you control your trading acount every day, and at least once per hour?
Did you think, that 1'000'000 usd per btc, it is 21 trillion dollars, and this is more then USA year budget? And if btc will costs 1mln, it is end of all of us, because it will means war. May be one short, may be many smaller around the globe. When you want BTC for 30 000, it is clear that you as a community, ask others poeple to give you some peace of cake, in dollars, just because there it is virtual asset, peer 2 peer spreaded database with proof of work mechanism, and because some man made money selling asics, and some mans payed electricity bills, this asset cost 10-20-30-100 thousand of dollars? May be because it is cheap way to transfer money globally? Hmm, i know at least twenty coins, that do that much better, faster, anonym, cheaper. No it is not, the current cost of BTC it is price for innovation, for new ways for mankind to exchange. But this price is almost payed. And then, as it happens always, competition will start to work. Lower prices. Better services. As usual. And BTC have posibility to be "reserve" coin. He can not be point of entry, big, slow, costly. But and as "reserve" it is not clear to see this future. All scammers of this world is gathered around this fever. Just one USDT can throw BTC again to the bottom, if they doing scam.
Take care of yorself, be adequate!
 

Of course the BTC will grow for a long time. The number of transactions has increased now, that resulted in failures in the system. But this is only the beginning. There is so many leaps and ups will be with this coin. CBOE is just caught the trend in time. Who has the information, has the world

I don't think a big correction is going to happen in bitcoin before this new year. Just 13 more days left to reach next year and there is no reliable news regarding this correction. Correction can occur but not like what you are expecting. According to me now BTC is stable at $17000 it won't go behind this margin.

I completely agree with you, Bitcoin is gonna see a big correction anytime soon because it's been on the bullish run for quite sometime and after the correction it's gonna reach new heights.

I was waiting for the correction already when it hit 10,000$ - it didn't come. Now the odds are bigger.

oh, friends, the biggest mistake, that can be made here, it is thinking about this market as a bullish forever. And now it is very clear to see, on the Bitfinex, for example - there is a buyers on every drop. And they come and come, just like lemmings. It is because most of crypto-traders are really new in a market, and very used to work on the up-trend, where this strategy works well - buy every dip. But if we switch to bearish, there will be huge losses. Like now it is. One my friend, he works at the Poloniex, and he have very simple strategy - when some of the coins falls, he buys it for everything he have, then put order with 2% profit and waits. If price falls further - he is waiting. Yes, he manage to make a profit almost every day. But when market will change direction, he will lose everything, it is just matter of time.
There are stories about poor people that killed themselves because lost of bitcoins, and it is very sad. All crypto world toghether is not worth single man life.
And now. Many of btc holders feel themselves as USD millionairs, couse their 20-50-100-or more btc now can feed them and family for whole life. But it is now. When btc near 20. If it will, by any occasion, fall in price, they will lose not the money actualy, but they will lose belief in their good fate. And this is main thing why people killing themselves. Scary. So many made big moneys with btc, but it is not enough to see crazy prices, you must see and hold your money in your hands. Take money. Then take a pause, then think what you will do next. This way you will be in charge.
imho

Let's not get ahead of ourselves, the 30k will come, but probably not this week or next week, maybe late in january

As for the price of 8-12, I did not see such a decline in a month, although many also predicted that. But the growth of up to 30k is the most realistic.

We did not get a serious correction since a long time, now i'm wondering if there will ever be an other big correction like we used to have, maybe from now on, bitcoin will only suffer small 10% correction from times to times

If we will take a look on the 1week chart of the btc all-time, we can see, that there was no real corretion at all since start, there is up-trend and we see usual price moving like steps. Real, convincing correction, will be looks like down-trend for some-time, just like a mirror to the current price chart. It must go through minds of competitors, sale, setting on the new levels, than go back and further, it is good. Never stopping growth - it is buble signature. It is what i'm trying to tell

I dont think that there is going to be a correction so far, the price touched more than 20k and it has already been dumped to less than 18k, but it is now slowly recovering.. probably more than 19,2k, it has been some minutes since i dont check the price. but no ,there is not going to be a new correction again.

I'm thinking of USDT, they printed more than 100'000'000.00 USDT just days before today, day when cme futures will be open for trade. I am not sure that this game is fair. And, with big possibility, that it will be linked with correction on the btc price - at least, many of new comers will just buy real btc, and open short positions in the furutes, to hedge. And in the momentum, it will be looks like falling futures, and it is will be like ignition for the short-term sells across markets. Correction itself must lasts for few days, because one time hit of the bottom is not a correction, it is just volatility. Correction means psychology, not technical drawings on a charts
i started this thread, as my personal wish to warn community about game they are now in. Btc comes to real world, and it is really matters, so long way from the start. And just buy and hold startegy now can be not so safe as before. Do not use this as instruction to do something, i'm trying to ask people to think a little.

I'm more than two months old waiting for a bitcoin correction... This huge growth needs some "pause" to be sustainable. Otherwise, I believe that there will soon be a big dump (although this crypto-world is very special and unpredictable).
I just hope that the Christmas passes quietly, without any sudden shock.