Thise corrections don't scare me anymore and my decision is not to loot at monitor and the rates. The crypto market is so joung and unstable, i see it's normal , what we are seeing now - manipulation of the big players in the market who wants to buy cheap bitcoin and altcoins. They pay for fake and promote real negative news, to dump the prices more and more.
Topic: Understanding corrections and why not to panic. (Read 866 times)
Thank you for this very amazing and inspiring post. This post will help everybody, specially for those panic sellers. History repeats itself. We don't want to get worried, because price of bitcoin will never get back to zero. It is only price correction, we need to wait for the next moves.
I hope the new members of this forum will come across this very logical post. This is a very timely post. We all know that the FUDs are ruling the emotions and consequentially the decisions of those people who remain half-hearted in their support of Bitcoin. I think they only lack the knowledge and the awareness that this dip in Bitcoin's value is not the first time. And every time there is a dump like this, another round of bullish growth will follow immediately.
Ok, so for me as a huge blockchain enthusiast, nothing annoys me more than seeing all this FUD from new members or traders.
I've tried to demonstrate through a simple ms paint picture, taking an example of another correction to explain.
Now as we can see, between Nov 20 2016 and Jan 05 2017, we had a 62% increase in about 3 and a bit weeks, to a lot of investors this is worth cashing out over, great returns!
The value then dropped around 34% from $1170 to $767 on the 12th of Jan 17, it then took till the 22nd of Feb to return to this value of $1170, around 5 weeks! this is the period where panicked people continue to sell due to the dip.
Now from the $767 price at the dip in Jan, it took around 3 months to hit a new high around $1250 with around 62% increase, this is more sustainable than the earlier rise of 61% in 3 weeks.. so what do we see? of course another correction but a much shorter one, why? the period of growth was slower, more sustained so the incentive to cash out is lower compared to 61% in 3 weeks.
Now if we look what has happened recently, Bitcoin went from $6000 in mid November 2017 to $18,000 in mid December 2017, this is a 200% increase in 1 month!
So what happens? once again people see a chance for a huge profit and cash out.
Now $18,000 to $10,000 is a 44% drop, after 200% in 1 month is this really surprising? not at all..
Based on what we've seen, the recent jump will cause a larger than normal correction, this is what we're seeing now.
I can't tell you how long this correction will last but my gut says it'll go a bit longer, am I in a panic? no way, everything's on sale!
I hope this brings a bit of calm to some, I've used BTC as an example but the same concept applies to all coins and the entire market value.
Very informative, good job OP! As for those who have nothing good to contribute to this thread, stay the heck out and keep your personal agenda to yourselves! I just get so annoyed by these hooligans who have nothing valuable to chip in. Shame on you! I've tried to demonstrate through a simple ms paint picture, taking an example of another correction to explain.
Now as we can see, between Nov 20 2016 and Jan 05 2017, we had a 62% increase in about 3 and a bit weeks, to a lot of investors this is worth cashing out over, great returns!
The value then dropped around 34% from $1170 to $767 on the 12th of Jan 17, it then took till the 22nd of Feb to return to this value of $1170, around 5 weeks! this is the period where panicked people continue to sell due to the dip.
Now from the $767 price at the dip in Jan, it took around 3 months to hit a new high around $1250 with around 62% increase, this is more sustainable than the earlier rise of 61% in 3 weeks.. so what do we see? of course another correction but a much shorter one, why? the period of growth was slower, more sustained so the incentive to cash out is lower compared to 61% in 3 weeks.
Now if we look what has happened recently, Bitcoin went from $6000 in mid November 2017 to $18,000 in mid December 2017, this is a 200% increase in 1 month!
So what happens? once again people see a chance for a huge profit and cash out.
Now $18,000 to $10,000 is a 44% drop, after 200% in 1 month is this really surprising? not at all..
Based on what we've seen, the recent jump will cause a larger than normal correction, this is what we're seeing now.
I can't tell you how long this correction will last but my gut says it'll go a bit longer, am I in a panic? no way, everything's on sale!
I hope this brings a bit of calm to some, I've used BTC as an example but the same concept applies to all coins and the entire market value.
Very useful information! Thank you!
I also think that not worth worrying about, because the currency fluctuations in the market were and always will be. You just need patience and wait. Of course there are people who see this as a huge problem and start selling everything. Do not need to do this in my opinion. I hope soon the market stabilizes. So that are typed patience.
I also think that not worth worrying about, because the currency fluctuations in the market were and always will be. You just need patience and wait. Of course there are people who see this as a huge problem and start selling everything. Do not need to do this in my opinion. I hope soon the market stabilizes. So that are typed patience.
After a sharp drop, growth follows!
if we look at history graph then it is correct. many people are panicked and affected by other bad news, which makes them sell quickly all of their assets. I think btc will reach $8k and that is the lowest price in this year.
I almost believe that this crash was due to price manipulation or a conspiracy of some Bitcoin haters to make people panic and to make digital currencies to disappear but this corrections story was well explained in which it will make some people to calm down. I just hope that this $8,000 is the normal price now in which we could start to move forward.
Bringing this back to balance out the FUD, too many negative threads going around
I do not panic at all because I know it wil recover, even if it will not recover, I wil hold my coins because I believe in their project.
Like many other people in this thread I also believe this is just a correction. I have liquidated some of my stock holding to move into crypto. I am quite sure crypto is here to stay and will enjoy having a nice return over the next weeks or months from the additional money I invest this week, before returning it to my stock holding portfolio.
how long do you think the "correction" will last? I believed everything in crypto,, but today,, I wonder if it will last anymore.. my investment fall very hard..
I hope the market will get better soon ~
Just hang in there mate, many bought during the rush and are now questioning things, I've done this before so I can completely understand how you feel.
Let me tell you, the regret I felt after selling in the past and watching it take off was enough to convince me to take an all or nothing approach with BTC, I keep it within levels that won't impact my life much if it were to go to $0, the flip side and more likely is it'll go up long term, time and patience are the main factors for trading BTC.
Now earlier on when I made comments about support at $8k, I've since had another look and the support has just gone up, we may see more dips and bumps but all indicators show this is just a needed correction, if this were the end it would be looking much different.
I wish I could answer your question on how long will it last, it's the golden question.
Unless you need money to pay bills or survive from your BTC income, just hold, I really don't think you can go wrong long term
My dear friend,
He has not give buy or sell advise. the OP is simply trying to explain what a market correction is, what a support looks like and what a spike looks like, with some lessons from history. History is a thing you know, its not just rumor; based on facts about events.
Now coming to your strong statement -
Will you compensate the people if they lose everything what they have invested by holding the wothless crypto by your useless suggestion?
will you compensate them if they sell based on your opinion, and the price does indeed rise?
Please dont make personal attacks. Again OP did not give buy or sell advise.
God bless us all.
Yes, I will compensate if he is ready to accept my challenge.
Tell us about your challenge.
I already told about it.
I can't find it and won't read three pages of crying about the end.
Anyone who fears and/or panicking: Sell your coins, then get out of here. No need to write about crypto's end, because it's boring for the hundreth time.
I'm impressed with how you manage to speculate bitcoins price OP. I see the same pattern since a couple of years back too so I'm just sitting down and staring at my laptop and hodling. Might be a good chance to buy some bitcoins as well and hoard a couple since bitcoins price now has just dropped down to around $8k+.
Like many other people in this thread I also believe this is just a correction. I have liquidated some of my stock holding to move into crypto. I am quite sure crypto is here to stay and will enjoy having a nice return over the next weeks or months from the additional money I invest this week, before returning it to my stock holding portfolio.
how long do you think the "correction" will last? I believed everything in crypto,, but today,, I wonder if it will last anymore.. my investment fall very hard..
I hope the market will get better soon ~
Like many other people in this thread I also believe this is just a correction. I have liquidated some of my stock holding to move into crypto. I am quite sure crypto is here to stay and will enjoy having a nice return over the next weeks or months from the additional money I invest this week, before returning it to my stock holding portfolio.
Ok, so for me as a huge blockchain enthusiast, nothing annoys me more than seeing all this FUD from new members or traders.
I've tried to demonstrate through a simple ms paint picture, taking an example of another correction to explain.
Now as we can see, between Nov 20 2016 and Jan 05 2017, we had a 62% increase in about 3 and a bit weeks, to a lot of investors this is worth cashing out over, great returns!
The value then dropped around 34% from $1170 to $767 on the 12th of Jan 17, it then took till the 22nd of Feb to return to this value of $1170, around 5 weeks! this is the period where panicked people continue to sell due to the dip.
Now from the $767 price at the dip in Jan, it took around 3 months to hit a new high around $1250 with around 62% increase, this is more sustainable than the earlier rise of 61% in 3 weeks.. so what do we see? of course another correction but a much shorter one, why? the period of growth was slower, more sustained so the incentive to cash out is lower compared to 61% in 3 weeks.
Now if we look what has happened recently, Bitcoin went from $6000 in mid November 2017 to $18,000 in mid December 2017, this is a 200% increase in 1 month!
So what happens? once again people see a chance for a huge profit and cash out.
Now $18,000 to $10,000 is a 44% drop, after 200% in 1 month is this really surprising? not at all..
Based on what we've seen, the recent jump will cause a larger than normal correction, this is what we're seeing now.
I can't tell you how long this correction will last but my gut says it'll go a bit longer, am I in a panic? no way, everything's on sale!
I hope this brings a bit of calm to some, I've used BTC as an example but the same concept applies to all coins and the entire market value.
Thanks for sharing this! I've tried to demonstrate through a simple ms paint picture, taking an example of another correction to explain.
Now as we can see, between Nov 20 2016 and Jan 05 2017, we had a 62% increase in about 3 and a bit weeks, to a lot of investors this is worth cashing out over, great returns!
The value then dropped around 34% from $1170 to $767 on the 12th of Jan 17, it then took till the 22nd of Feb to return to this value of $1170, around 5 weeks! this is the period where panicked people continue to sell due to the dip.
Now from the $767 price at the dip in Jan, it took around 3 months to hit a new high around $1250 with around 62% increase, this is more sustainable than the earlier rise of 61% in 3 weeks.. so what do we see? of course another correction but a much shorter one, why? the period of growth was slower, more sustained so the incentive to cash out is lower compared to 61% in 3 weeks.
Now if we look what has happened recently, Bitcoin went from $6000 in mid November 2017 to $18,000 in mid December 2017, this is a 200% increase in 1 month!
So what happens? once again people see a chance for a huge profit and cash out.
Now $18,000 to $10,000 is a 44% drop, after 200% in 1 month is this really surprising? not at all..
Based on what we've seen, the recent jump will cause a larger than normal correction, this is what we're seeing now.
I can't tell you how long this correction will last but my gut says it'll go a bit longer, am I in a panic? no way, everything's on sale!
I hope this brings a bit of calm to some, I've used BTC as an example but the same concept applies to all coins and the entire market value.
Thanks for all the additions!
The support above $8000 is looking good to me, still calm on this end
The support above $8000 is looking good to me, still calm on this end
seems ur predictions are very accurate
Again, OP has not given buy or sell advise.
There is no challenge, I'm wondering why you are after OP?
There are so many people here who've never seen a bear. When you're in the market, the bears are scary and the bulls are exciting...
This is a healthy fight between the bulls and the bears. Go look at the stock market charts and get an understanding of how markets run.
This is not a crypto-utopian condition; this is simply a market, like any other market - equity, commodities, bonds. The days of the crypto-purists are now past us, BTC has a futures trade on it. It is a market asset for wall street. There are more forces at play than your simple crypto-enthusiasts, rogers, counrty bans, forks. The suits are here.
There is a saying; 'Bulls make money, bears make money; pigs get slaughtered'
For any of you scared; but still have balls left; go look at a chart, see where volume has been high, and the market has pulled up from repeatedly, or where a lot of buying happened over time. That is called a support. there is a support at 8,200$ and one at around 7800$, every support takes a battle to break by bears, because bulls tend to jump in to hold the price. Anyone of these could be a bottom.
Or we may be looking at a secular bear market now, it does not seem to be the case; but there is a chance. In case you dont know these terms go read. Research is not just looking at what new token ICO is about to launch. Man Up people. You came here for the riches, but this is war, dont be a PIG.
If you need the money, sell now to get as much as you need, there is uncertainty ahead.
The money that you dont need now but may in the near future Sell and get your capital.
The money that you dont need, and you either 1. believe in crypto or 2. Are in for the long haul. Load up, there is a sale out there, it may get even better or it may end. But this is the time to buy 'quality' at a discount. Not shit at throwaway.
For the non-serious who came to make a quick buck; The money that you wont miss, can laugh off, keep it steady. If you have a bit more, this is the time to slowly 'average it in' please get a fucking book or google to know what that means.
The bears & the bulls here, hat tip.
God luck & God bless all.
There is no challenge, I'm wondering why you are after OP?
There are so many people here who've never seen a bear. When you're in the market, the bears are scary and the bulls are exciting...
This is a healthy fight between the bulls and the bears. Go look at the stock market charts and get an understanding of how markets run.
This is not a crypto-utopian condition; this is simply a market, like any other market - equity, commodities, bonds. The days of the crypto-purists are now past us, BTC has a futures trade on it. It is a market asset for wall street. There are more forces at play than your simple crypto-enthusiasts, rogers, counrty bans, forks. The suits are here.
There is a saying; 'Bulls make money, bears make money; pigs get slaughtered'
For any of you scared; but still have balls left; go look at a chart, see where volume has been high, and the market has pulled up from repeatedly, or where a lot of buying happened over time. That is called a support. there is a support at 8,200$ and one at around 7800$, every support takes a battle to break by bears, because bulls tend to jump in to hold the price. Anyone of these could be a bottom.
Or we may be looking at a secular bear market now, it does not seem to be the case; but there is a chance. In case you dont know these terms go read. Research is not just looking at what new token ICO is about to launch. Man Up people. You came here for the riches, but this is war, dont be a PIG.
If you need the money, sell now to get as much as you need, there is uncertainty ahead.
The money that you dont need now but may in the near future Sell and get your capital.
The money that you dont need, and you either 1. believe in crypto or 2. Are in for the long haul. Load up, there is a sale out there, it may get even better or it may end. But this is the time to buy 'quality' at a discount. Not shit at throwaway.
For the non-serious who came to make a quick buck; The money that you wont miss, can laugh off, keep it steady. If you have a bit more, this is the time to slowly 'average it in' please get a fucking book or google to know what that means.
The bears & the bulls here, hat tip.
God luck & God bless all.
My dear friend,
He has not give buy or sell advise. the OP is simply trying to explain what a market correction is, what a support looks like and what a spike looks like, with some lessons from history. History is a thing you know, its not just rumor; based on facts about events.
Now coming to your strong statement -
Will you compensate the people if they lose everything what they have invested by holding the wothless crypto by your useless suggestion?
will you compensate them if they sell based on your opinion, and the price does indeed rise?
Please dont make personal attacks. Again OP did not give buy or sell advise.
God bless us all.
Yes, I will compensate if he is ready to accept my challenge.
Tell us about your challenge.
I already told about it.
Good job on making some effort in your way explaining this information for the new investors to finally settle down from many weeks of nightmare and fear.. This would also help counter the fud circulating even here in the forum from obvious new accounts and promotional accounts from other currencies.. I’d rather be holding until the last breath than listen to those and ignoring them is the best possible option that I can manage..
Yeah, very impressive explanation that can makes everyone enlightened their mind to hold their bitcoins. As I recall on the performance of bitcoin way back a year ago it looks the same situation, but in some point we can't blame those people to feel a panic since they have a lots of shares on their bitcoin that's whay they can easily sell their bitcoin. On the other hand, some people hold their bitcoin as they believe it will back to stabilized value gaining enough profit as they aimed to have it. Jump to: