Looks like $6000 is just another pump and dump - page 3.

pixie85

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Quote from: tscen on October 22, 2017, 08:25:33 AM

The top is in i guess? lower low downtrend begins!

A correction and taking profits is a bit different from a downtrend. You're mixing up the terminology!
There's no reason for a downtrend now because Bitcoin is still strong, but a correction will surely come after the fork when people sell their Bitcoin Gold and will no longer need to hold as many Bitcoins as they do now. There are still opportunities in altcoins and some of the money may go that way.

Torque

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Yeah, I really hate these PnDs that keep rising every $1k. My net worth just keeps going up and up. Cry

I hope these PnDs don't keep happening years or decades into the future. Cry

susila_bai

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This price corrections is just the profit booked by the small traders and very soon we will see that the price is moving above 6500+ before hardfork because their will be heavy dump after hardfork.

Gaaara

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That was obvious, the real question is when exactly? Bitcoin is being consistent at pumping, there are some dump that happens but only at a low level bitcoin price will go down but it is only temporary.
There are some investors that will deny bitcoin but that was only to gain profit then come back after, so pump and dump will always happen as long as there are some investors who doubt it.

player514

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Quote from: jjacob on October 22, 2017, 02:05:52 PM

Just because there has been a slight correction doesn't mean that it is a pump and dump. Of course, there will be profit booking at different levels. You can't expect anything else from financial investors. We will just consolidated before moving the next move upwards.

I agree that this is possibly just a correction to come along with the whole fork. I mean, a lot of people expected this drop to come very close to the time of the second Bitcoin fork and they are definitely not wrong to have expected it. People will end up getting their Bitcoin gold and dumping that almost instantly for Bitcoin, so you might not even end up losing much on this correction.

alyssa85

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Quote from: tobs on October 22, 2017, 02:28:51 PM

Quote from: jjacob on October 22, 2017, 02:05:52 PM

Just because there has been a slight correction doesn't mean that it is a pump and dump. Of course, there will be profit booking at different levels. You can't expect anything else from financial investors. We will just consolidated before moving the next move upwards.

But actually in that particular case it is a pump and dump. The price raised so much, because everyone wants to acquire as many bitcoins as possible to get "free money" after the fork. That's the pump phase. And when the fork happens, they will sell most of their excess bitcoins that they had bought only for that one moment, and it will be the dump phase. Probably will end at something like $4300 and then it will again raise naturally, because many people will want to take the opportunity of bitcoin at $4300 so they will start buying it again.

Yes. Don't forget good old fashioned profit taking as well. When something goes up this fast, it makes people nervous (they "climb a wall of worry") and often sell just to crystallise the gains.

ASHLIUSZ

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Quote from: lumeire on October 22, 2017, 09:43:18 AM

Quote from: tscen on October 22, 2017, 08:25:33 AM

The top is in i guess? lower low downtrend begins!

Of course that's expected. Whatever goes up must go down eventually. The question now is what's the next floor?

The next floor is unpredictable. The same might grow higher or will remain in this same platform without much pumping or dumping. In reality surely price pumping happens with regards to the time period. If this is just an pump and dump mechanism then the price right now could have gone much lower based on different speculation from users all around.

tobs

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Quote from: jjacob on October 22, 2017, 02:05:52 PM

Just because there has been a slight correction doesn't mean that it is a pump and dump. Of course, there will be profit booking at different levels. You can't expect anything else from financial investors. We will just consolidated before moving the next move upwards.

But actually in that particular case it is a pump and dump. The price raised so much, because everyone wants to acquire as many bitcoins as possible to get "free money" after the fork. That's the pump phase. And when the fork happens, they will sell most of their excess bitcoins that they had bought only for that one moment, and it will be the dump phase. Probably will end at something like $4300 and then it will again raise naturally, because many people will want to take the opportunity of bitcoin at $4300 so they will start buying it again.

Krikke

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It's holding pretty well imo, obviously there will be fluctuation and even flash crashes. But the BTC uptrend is still strong!

jjacob

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Just because there has been a slight correction doesn't mean that it is a pump and dump. Of course, there will be profit booking at different levels. You can't expect anything else from financial investors. We will just consolidated before moving the next move upwards.

Fortify

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It is a record high, of course there will be a large group of investors who had $6,000 as a target and want to cash out as early as possible. You cannot expect it to keep going up forever without any reversals. I think the grow it has seen in the last couple years is phenomenal, yet people still complain..

BrewMaster

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There is trouble abrewing

nest time sell when the dip begins, which means nearly 22 hours ago when price was $6100 and the first big red candle is marking the initiation of the dip. and not at the bottom when everything is being reversed meaning at $5700

if you do that you won't be angry next time to create a throwaway account to call bitcoin "pump and dump" and go away Wink

and if you can't then maybe you have to give up trading and buy & hold instead.

Epimetheus

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Quote from: tscen on October 22, 2017, 08:25:33 AM

The top is in i guess? lower low downtrend begins!

No I don't think that bitcoin price can go lower as the fork is expectedly for 25 October and till then there are no chances of it getting dumped and after that there is 1st November lwndmqrk on which segwit 2x will be activated so till then also there aren't any chances of bitcoin getting dumped, everyone think that bitcoin is being pumped whenever it's price start rising rapidly, I can't seem too understand the reason behind that.

lumeire

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Quote from: tscen on October 22, 2017, 08:25:33 AM

The top is in i guess? lower low downtrend begins!

Of course that's expected. Whatever goes up must go down eventually. The question now is what's the next floor?

Kronos21

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I doubt that the price climbs to $ 6000 it was pumping. It was predictable and has a logical explanation. I think that after Oct 25, we are waiting for this predictable decline. Those who are afraid of today's falling prices may not panic. I am sure that tomorrow the price will go up and maybe even reach 6500 dollars. Have patience and you will be rewarded.

tscen

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The top is in i guess? lower low downtrend begins!

Topic: Looks like $6000 is just another pump and dump - page 3. (Read 1307 times)