Topic: The next big correction (Read 1004 times)
I'm thinking just after the holidays and I'm hoping that will allow me to buy in at a lower price. I've got a few tenths of a Bitcoin that I might sell when we get a bit above $1000.
I think it will exponentially grow higher and higher. Perhaps some big investors will sell their bitcoins at psychological borders, like 1000, 5000 and 10.000 dollars, but generally the bitcoin is expected to be worth much more (Max Keiser predicts 700K), so most people will wait and see.
No one knows...
My opinion is that it will happened in the first quarter of 2014.
Great replies and very interesting spread on the poll. Seems like a lot of people think Never and a lot think very soon or maybe Jan Feb.
I agree with the "when people can't cash out easily" claim as well. It was one of the factors in my decision to pull 5 btc out last night - I'm worried that when it hits $1000 and many dried to sell at that milestone that there will be difficulty similar to the difficulty there was buying last week and people will lose a lot of confidence in the system since they're used to being able to sell stocks on seconds and cash out immediately so to say.
But again I stil have some investment so I hope it goes to the moon too!
I agree with the "when people can't cash out easily" claim as well. It was one of the factors in my decision to pull 5 btc out last night - I'm worried that when it hits $1000 and many dried to sell at that milestone that there will be difficulty similar to the difficulty there was buying last week and people will lose a lot of confidence in the system since they're used to being able to sell stocks on seconds and cash out immediately so to say.
But again I stil have some investment so I hope it goes to the moon too!
I think once we cross $1000, there will be more articles, interest, investment, and a rapid price increase. Then a flash crash where price is cut in half, followed by a rapid recovery and sideways movement for a short time. All of this is normal Bitcoin behavior, and it will probably happen by the end of 2013.
However, the recovery time will be a lot shorter than you're predicting. It took 2 years to hit new ATHs after the 2011 crash, but only 6 months after the massive April 2013 crash. Next time, we'll be hitting new ATHs again in a month or two.
Lots more people know about Bitcoin today, and the upward pressure is huge. The infrastructure needed for mass adoption is being built today, and its release in coming months will make it easier for he masses to hop aboard. Six months ago I gave some 1 BTC Cassicius coins as gifts. By next Christmas I should be able to give some hardware wallets with the security of an Armory offline wallet and convenience of a cell phone wallet. Maybe I'll preload them with just 1 mBTC each, and it will still be an impressive gift.
Enjoy today's volatility, too. It will not last forever.
However, the recovery time will be a lot shorter than you're predicting. It took 2 years to hit new ATHs after the 2011 crash, but only 6 months after the massive April 2013 crash. Next time, we'll be hitting new ATHs again in a month or two.
Lots more people know about Bitcoin today, and the upward pressure is huge. The infrastructure needed for mass adoption is being built today, and its release in coming months will make it easier for he masses to hop aboard. Six months ago I gave some 1 BTC Cassicius coins as gifts. By next Christmas I should be able to give some hardware wallets with the security of an Armory offline wallet and convenience of a cell phone wallet. Maybe I'll preload them with just 1 mBTC each, and it will still be an impressive gift.
Enjoy today's volatility, too. It will not last forever.
big correction before christmas. but to the moon before then! 
That's what I'm seeing, though timing is inexact, could be just before Christmas or soon after into early Jan.
And there will be a more than 50% correction methinks, BUT I think we're still below the "plateau" level it will fall back to after the crash.
That doesn't work though! Because if people realise it's difficult to cash out they'll probably think "screw it, i'll just hold onto them" which would hold the price. Or am I looking at it wrong?
When people realise its difficult to cash out
I agree, and probably also when the market relaxes or remains constant in a range.
When people realise its difficult to cash out
Early December would be my guess
I'll hope never.
It will go up till all bitcoins are out.
and than horizontal line _____-----___-__ on some (ill hope +10000$) value
I think we'll have to wait a very long time for it to get to a horizontal line. Especially since more and more businesses are getting involved. Bitcoin is still in it's infancy, really. It will go up till all bitcoins are out.
and than horizontal line _____-----___-__ on some (ill hope +10000$) value
big correction before christmas. but to the moon before then!
I can see a few people who own a lot of bitcoins trickling them out which would stem the rise and if they dump enough reversing the trend
I'll hope never.
It will go up till all bitcoins are out.
and than horizontal line _____-----___-__ on some (ill hope +10000$) value
It will go up till all bitcoins are out.
and than horizontal line _____-----___-__ on some (ill hope +10000$) value
Over 50% correction is just dream, it wont come anytime soon. Next months we we will see increased demand, thus price.
I think Dec 2013, but have big doubt about it.
i believe it would go up considerably in the near future:)
Such a gamble, so you think sell before the New Year? If the train keeps chugging it could be hard to get back on!
jan/feb I guess
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