That's one hell of a correction | Bitcointalksearch.org

BrewMaster

legendary

Activity: 2114

Merit: 1293

There is trouble abrewing

yeah it was it was big but it was not the first time bitcoin price drops this much.
see this comment i made yesterday listing the most recent ones which were nearly the same size with the recent drop bitcoin experienced:

Quote from: BrewMaster on December 22, 2017, 10:41:09 AM

constant rise from $5600 to $19666 = +250%
then major drop from $19666 to $11160 = -43%

constant rise from $2970 to $7888 = +165%
then major drop from $7888 to $5555 = -30%

constant rise from $1800 to $4797 = +166%
from $4979 to $2972 = -40%

constant rise from $891 to $2980 = +234% (ignoring 1 drop here)
from $2980 to $1830 = -39%

this is so common that it sometimes even forms up a nice little pattern of the same size rises, then the same size correction before the rise continues and the same pattern is shaped.

heringasem

full member

Activity: 168

Merit: 103

You are awesome guys, i dont know why you all are complaining about the price and bla bla bla, you are not taking in consideration that bitcoin has increased like "hell" during this year.
And in fact it has stopped right now, it is $4000 more than when you wrote this thread

STT

legendary

Activity: 4088

Merit: 1452

Quote from: PolarBlue on December 22, 2017, 09:11:06 AM

Will it ever stop? Thoughts?

18 months ago the block reward reduced and I was discussing on threads how lots were marking the date as if immediately we'd see a price jump but its an ongoing effect of lower supply. [In fact it was buy the rumour scenario, the news saw a price drop/languish] We see now that balance change helped snowball the demand but I see the fee similarly in a negative way, it will have an effect on real usage and utility.

Hype is nice and all but results matter, so it'll recover longer term when it starts being more useful and new highs then are possible but far too many are jumping the gun imo

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: PolarBlue on December 22, 2017, 09:11:06 AM

Will it ever stop? Thoughts?

The bitcoin just get another panic crash because a lot of people were selling their bitcoin. I've bought 5 bitcoin again at 13k and in this time i get decent amount worth of bitcoin. It's about the newcomers are always feeling scared to see the big correction in crypto and they are throwing their money into the hole.

Swenna

full member

Activity: 364

Merit: 106

Quote from: Anti-Cen on December 22, 2017, 10:19:33 AM

Quote from: Swenna on December 22, 2017, 09:56:07 AM

It's true. This correction is quite scary but already did expect that the price will crash due to its sudden price surge in the previous months. However, despite all that, this dip makes me anxious. I'm waiting for its lowest point so I can buy a btc but people are calling it as the end of the bitcoin. I can't make my call, yet.

if the price goes back up then you will be kicking yourself because you did not buy on the dip !

Already your having trouble sleeping in case the price eats all all this profit you have been telling
your friends about right. YOU CAN NOT WIN

What you have is a gambling addiction to coins and not slot machines or the roulette wheel or poker games and
your poison is Crypto !!!

Me on the other hand is a very logic person and the Tulip price will soon be back to $20,000 per coin
and go on to $50,000 at a guess but all you will still be doing sleepless nights when it crashes back down to
$40,000

Greedy people hold out for top buck and most the time they end up with nothing so don't
be one of them people

Luckily, I did invested yesterday. I was actually hoping it would go down to $8000, but it only dropped to almost $11000. When I saw that the price was already rising a bit, I decided it was time to invest (seeing that it might not go down to what I'm hoping for). As of the moment, I already have a profit but I am still waiting for a larger one.

fat buddah

full member

Activity: 336

Merit: 102

Get Ready to Make money.

Quote from: PolarBlue on December 22, 2017, 09:11:06 AM

Will it ever stop? Thoughts?

Yep, it touched $10,4k and now it is upto $13,5k, that is a nice correction, and it is obvious that there is a huge manipulation over the price, now that it touched the dip, it is going to go up again because almost every one started to buy again.

13abyknight

sr. member

Activity: 602

Merit: 252

More than just a mere correction, this is a more of a bloodbath for the entire cryptocurrency market, not only Bitcoin. It was even down to 10k at a point, a few hours ago but seems to be recovering steadily but only to hover around the 13k mark. With the holiday season in progress, cashouts are pretty common and hence the supply is overshadowed compared to the actual demand, causing a crash.

junoreactor

full member

Activity: 196

Merit: 109

Two months ago I was writing on this very forum, that Bitcoin would not reach a price over $7,000 this year, and that if it did, it would be a brilliant result and unexpected.
As I am writing, the price is floating around $12,000... if it stays above $8,000 we are fine I think.

The ones panicking are the ones with big investments who did not know much about Bitcoin when they bought, and still don't today.

That being said, I hope this is a good lesson for Bitcoin community to agree on a solution to make transactions faster and cheaper. This is urgent now.

TimtheYoutuber

full member

Activity: 1708

Merit: 125

www.positivebetting.com

This shouldn't be surprising if you have been invested for some time. It was bound to happen when everyone and their grandma was investing.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Bitcoin flirted with $20K level and came back, the same thing is going to happen with lower level so it should not be the subject of worry in my opinion. In fact, I was expecting this correction much earlier but anyways, Xmas sale is not a bad label for it either. This correction will help Bitcoin to bring the stabilize itself and to grow at a sustainable rate. Considering the long-term growth, I appreciate this correction.

xkatarinax

full member

Activity: 242

Merit: 103

It was $10,000 30 minutes ago and now it is $13,000. I don't think that there is any reason for panic

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Quote from: Swenna on December 22, 2017, 09:56:07 AM

It's true. This correction is quite scary but already did expect that the price will crash due to its sudden price surge in the previous months. However, despite all that, this dip makes me anxious. I'm waiting for its lowest point so I can buy a btc but people are calling it as the end of the bitcoin. I can't make my call, yet.

if the price goes back up then you will be kicking yourself because you did not buy on the dip !

Already your having trouble sleeping in case the price eats all all this profit you have been telling
your friends about right. YOU CAN NOT WIN

What you have is a gambling addiction to coins and not slot machines or the roulette wheel or poker games and
your poison is Crypto !!!

Me on the other hand is a very logic person and the Tulip price will soon be back to $20,000 per coin
and go on to $50,000 at a guess but all you will still be doing sleepless nights when it crashes back down to
$40,000

Greedy people hold out for top buck and most the time they end up with nothing so don't
be one of them people

Anti-Cen

member

Activity: 210

Merit: 26

High fees = low BTC price

Look you first need to accept that you are being played to yourselves by the bankers instead of thinking that
somehow you have broken free because they can pump-en-dump and they also control the press that everyone is reading.

Just look at what they have done to transaction fees using ten big miners that control 90% of all transactions

Now they want the public to jump in to BTC feet first so they can be fleeced for trillions and not just billions and
to do that they need the price down to get the general public addicted to this new form of gambling with a give away
as the price then jumps back to $20,000 just like they got people addicted to smoking years ago.

Indeed I can see $50,000 at some stage but lets remember we are not financial experts just because we
win tokens in one slot machine and then play them in another machine because it clunks with the right
type of sound.

Tulips, 1928, Dot-Con boom took so called experts in too you know

Swenna

full member

Activity: 364

Merit: 106

It's true. This correction is quite scary but already did expect that the price will crash due to its sudden price surge in the previous months. However, despite all that, this dip makes me anxious. I'm waiting for its lowest point so I can buy a btc but people are calling it as the end of the bitcoin. I can't make my call, yet.

lelylely

member

Activity: 602

Merit: 10

Quote from: PolarBlue on December 22, 2017, 09:11:06 AM

Will it ever stop? Thoughts?

a very high risk. that possibility will also happen. but it's all a choice, where there is a big advantage there must be a big risk too.

Chinatsu Akasaki

newbie

Activity: 93

Merit: 0

This correction got me scared too. I recently made a thread about the drop in the price of Bitcoin and I got good answers. This is just normal they said. The whales are dropping the price of Bitcoin for them to make big income. And since Christmas and New year is coming, people are selling their Bitcoins to buy whatever they want.

PolarBlue

newbie

Activity: 13

Merit: 0

I'm tempted to buy Litecoin, but it just keeps dropping !!

CodyAlfaridzi

hero member

Activity: 1708

Merit: 541

This is a long overdue correction. Bitcoin has been straight rising from $5K to $20K in the past month. As expected, the higher the pump, the harder it'll plunge. Almost 50% correction wow. I expect this to stop at $8K maximum. If you have some USD, set some buy orders on some level until $8K. Shorting alts like LTC and ETH might be a good move too.

h4ns

member

Activity: 143

Merit: 40

Could be dead.

But could also stop at 8k and go back to 18k in the next months like some analysts say, who knows...

The main problem is that Bitcoin will not establish as #1 coin because of its scaling problem. So in the long run it will die anyway.

The more people realize it the more the prices will drop.

PolarBlue

newbie

Activity: 13

Merit: 0

Will it ever stop? Thoughts?

Topic: That's one hell of a correction (Read 338 times)