Topic: The BIG Bitcoin Correction Is Coming! ( Not Spreading FUD ) (Read 979 times)

Thanks for the positivity, I 100% agree with you.

I am not against any correction because I know it's one way of sustaining a sure and safe price for every bitcoin user.
And yes sometime predicting a correction is being misunderstood as FUD. People should know that it's just an information or hint to everyone. Bitcoin does not need to keep on rising everyday just to know it's growing.
KUDOS.

I don't even have ads on my videos

You also contradicted yourself by telling me you didnt watch the video but then continue on to tell me what I "said" in the video.

I didnt view the your videos because it might contain ads that will benefit you from people watching it.
Yeah you are spreading FUD nonetheless or to gain viewers from your videos just to profit.
The spike that you are talking about is because of CME coming over to bitcoin and the lightning protocol that is being tested in the blockchain.

Yeah, all day long topics popping up here about the crash/correction. Watching them, making a video for the 135 subscribers, and then "hey, mee too thread, look I have a video of what you have been saying".

I am talking about this thread, not your video. You gave a clickbait title to this thread. Your video is not the issue, in fact basically noone would have watched it have you not promoted it with the clickbait title of the thread.

That is true, I try very hard in my videos to let people know that my advice is simply advice and not fact. I do not claim to have oversight knowledge of where the price will go because no one really knows for sure.

All of these youtubers have been trying to call the top and they all have ended up making a fool of themselves as bitcoin reaches higher highs. I've seen pretty much every trader on youtube (Chris Dunn, Tone Vays, "Coin Mastery"... the list goes on), all of them called tops, all of them got proven wrong.

Lesson to learn: never call a top for bitcoin, or at least admit that you could be wrong instead of trying to sound like a prophet.

Thank you for the reassurance, and currently BTC is smashing all time highs like its nothing lol, so I assume we are going to have to fall just as hard unfortunately. However, no big deal for long term HODLers .

Of course there will be large drops on the way up.

That's fantastic - it just means more opportunities to buy low and hodl. This is a good thing.

I agree that a big correction is coming. What goes up must come down.
If you take the Bitcoin all time chart and look to more detailed periods, you can see that it doesn't stat at "All time highs" for a long time ...
When, at what level, for how long, these are the right questions imo.

That isn't FUD. It's just another cycle. Rinse and repeat. This is how BTC rolls. 

This will be the last time I go back and forth with you because it is bad for the threads discussion. Titling my video "A Big Bitcoin Correction is Coming" is not very "clickbait" at all. A big correction is most definitely coming, it might not be down to 7-8k, but there will be a rather big correction. So I am not sure if you are just hating to hate, but please take your negativity and petty claims somewhere else.

Drowing broad conclusions from one's imediate experience is plain wrong. Those people know (or think) you are in the know about this subject and naturally are turning to you. To make guesses based on 15 people is hazardous at best.

That's another geekish mistake. They don't really need to know what's under the hood to use it properly. And also you can't possibly be in a position to know the experience of people entering the market now. Those that know simply haven't turned to you. Naturally only those that don't know have asked you, so you have a biased point of view.

Stop drawing broad conclusions from limited experience! And stop posting clickbait titles for the sake of gaining followers on youtube, it's not curteous to the rest of us.

It's important to recognize that different analysts are charting on different time frames. This analysis is mid-term. Your analysis is short-term. He's talking about the correction expected after the blow-off top occurs. In other words, the context is a temporary (mid-term) end to the bull market.

Yes, in the short term, price tends to confirm previous resistance as support, then continue upwards. But if you think that Bitcoin can continue like that forever, you probably haven't experienced a Bitcoin bear market before. Go figure: "Date Registered: May 21, 2017"


Sounds like you have reason to be biased.

I'm very bullish on Bitcoin in the long term, but there will be very painful corrections on the road to $1MM. The pie-in-the-sky attitude of newbies tells me that there is a lot of pain incoming. If you look at the 2011 or 2013 bubbles, an 80-95% correction after a parabolic rise is perfectly normal. We can't necessarily expect it, but if you think BTC will never experience downtrends, you're gonna have a bad time. Personally, I'm not selling any coins yet. I need to see a wide range on the monthly; we're not there yet. Needs $20k+.

Also, don't underestimate the extent to which institutional level futures markets can affect the spot market. People I respect have differing opinions on that. I'll just say, keep an open mind. The BTC market has always functioned in a way that separates coins from their holders in mad panic. Don't forget that.

I agree, also the mining difficulty was increased today if I am not mistaken.

correction is expected to be honest but right now it's not the time yet,
at least the dump will not happen until Dec 18,because we're waiting for CME group's listing on their futures.
how big it will be ?
we do not know about it for sure because we made a lot of move lately from $700 in january until today for more than $17.000.
but if we're looking at our current expenses that we need to spend if we want to mine it,
an ideal price should be around $5000~$7000 more or less(not really sure because the expenses can change at any time).
also we should know that something will happen with it again in the future,
i heard there will be another listing in Q1 2018 next year,
correction is expected but do not fear it too much because next year we may be can see this kind of movement,
because we got a green sign from other people until Q1 2018.
if you're a true believer,simply holding it will not make you any loses in the future.

About 15 people that I went to high school with have texted me this past week asking me how to get into bitcoin or telling me they bought some bitcoin on coinbase and don't know what to do with it. So judging from this information, I can come to the conclusion that if people from my area are jumping in without any knowledge, I am sure it is happening elsewhere too.

MANY people are invested into bitcoin that know little to nothing about it or how it works or the technology behind it, they just want to make money.

Yes, i'd really like to know how many and how you sourced the data. And also how you estimated the level of investment and bitcoin knowledge of those people.

You would be surprised at the amount of people who are just googling how to buy bitcoin, going to coinbase, and purchasing 100-500 dollars worth of it without any investment knowledge or bitcoin knowledge at all. It is actually a pretty alarming number of people, around where I live at least. Also thank you for the feedback and the view on my video, hope to see you checking out my videos to come as well haha !

So basically the OP hast 135 subscribers on his channel and opens the tenth thread this day with the same topic. It used to be that people had some weight before... weighing in. Not spreading fud, just choosing a clickbait topic title with big in caps.