Will Bitcoin will correct back under $10k or are 4 digits gone for good?

proudhon

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Quote from: el kaka22 on July 11, 2019, 12:41:35 PM

I think 4 digits may not be "gone for good", I mean sure it would be hard to go back to that and even if we do I doubt it will be ever under 4k again but could it ever reach back to 9800? Sure why not it totally could. That is why I think 4 digits are still possible but not as much as used to be, maybe if we go even higher than it will turn into impossible as well, if we go above 20k and instead of going down super fast if we stay there a bit then we can totally say good bye to 4 digit numbers as well, that is what I want right now, going up slowly but steady without going too much.

If we go fast too high then we fall back, we lived that before and we do not want that again, that is why we want it to go up but then stay there as long as possible even if it doesn't keep going up.

4 digits are definitely not gone for good. Bitcoin will definitely reach back to $9,800 and will definitely be under $4,000 again. Bitcoin will never go above $20,000 again. This is just a very long dead cat bounce from the totally irrational $20,000 ATH. Bitcoin is heading under 3 digits where it'll trade like a penny stock until it's eventually forgotten.

el kaka22

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I think 4 digits may not be "gone for good", I mean sure it would be hard to go back to that and even if we do I doubt it will be ever under 4k again but could it ever reach back to 9800? Sure why not it totally could. That is why I think 4 digits are still possible but not as much as used to be, maybe if we go even higher than it will turn into impossible as well, if we go above 20k and instead of going down super fast if we stay there a bit then we can totally say good bye to 4 digit numbers as well, that is what I want right now, going up slowly but steady without going too much.

If we go fast too high then we fall back, we lived that before and we do not want that again, that is why we want it to go up but then stay there as long as possible even if it doesn't keep going up.

proudhon

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Quote

Will Bitcoin...correct back under $10k or are 4 digits gone for good?

Bitcoin will correct back under $10k and 4 digits are not gone for good. That's the confirmed answer.

shoreno

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Quote from: Oilacris on July 10, 2019, 11:49:25 AM

Theres no such thing for bitcoin on not going back into these digits.We do basically telling this thing when we are heading up to 20k where we do say that 4 digit price cant be seen anymore but the price had fallen back.Making out conclusions would just frustrate you since bitcoin can surprise us out anytime. Cool

yeah there is no such thing as increasing all the time without going back to where it was before . this sceneario of bitcoin reminds me of the saying that " a person cant go to his destination if dont know how to look back on his past "

anyway . there were always be a correction that will occur after a new high has been achieved so lets not worry too much , instead lets be positive and use that window of oppurtunity to bag more coins .

Pursuer

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Quote from: BitHodler on July 10, 2019, 02:43:15 PM

Quote from: Reid on July 10, 2019, 02:27:09 PM

I am not saying you sell it all. Maybe make some profits out of it so that you can be ready to buy back if the price turns south.
Just leave some to avoid a larger regret. It wont hurt that bad if a sudden increase also happens.

You're absolutely right, but it doesn't always work out well. I'm sure that people have done so already well below the current levels, but have been disappointed because the price went up way higher.

I think the main point is for people to educate themselves on how a market works on a more technical level. Selling, even when it is to secure profits, isn't always the best options and might result in more harm than good.

It sucks having sold at $6000 thinking to have done a great job, to not long after that see how the price keeps pumping further. This is a hodl market until we're seeing clear signs of a bearish reversal.

I would like to add that people also have to make up their minds about what they want to be in this market, a day trader or an investor. they can not be both at the same time and make moves that belongs to either category any time they want.
if they are traders then selling like this to secure profit is always a good idea but a trader has to always be super active going in an out many times. sitting around and hoping is not good for them.
if they are investors then taking profit out after a small rise is silly, they should not be active in the market at all. instead they should only buy the dips and accumulate that way and wait for long term results. which usually means cashing out profit inside bubbles (such as $20k)

BitHodler

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Quote from: Reid on July 10, 2019, 02:27:09 PM

I am not saying you sell it all. Maybe make some profits out of it so that you can be ready to buy back if the price turns south.
Just leave some to avoid a larger regret. It wont hurt that bad if a sudden increase also happens.

You're absolutely right, but it doesn't always work out well. I'm sure that people have done so already well below the current levels, but have been disappointed because the price went up way higher.

I think the main point is for people to educate themselves on how a market works on a more technical level. Selling, even when it is to secure profits, isn't always the best options and might result in more harm than good.

It sucks having sold at $6000 thinking to have done a great job, to not long after that see how the price keeps pumping further. This is a hodl market until we're seeing clear signs of a bearish reversal.

Reid

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Always be ready for it.
Even with $13k now it can still go to amounts which you didnt expect.
It already happened and that should have been a lesson for us.

I am not saying you sell it all. Maybe make some profits out of it so that you can be ready to buy back if the price turns south.
Just leave some to avoid a larger regret. It wont hurt that bad if a sudden increase also happens.
Think about what you did now and not what wrong choice you have made later on.

leowonderful

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There's plenty of support and buying happening right under where we are at the moment, even after we dropped from the $13.2ks to the lower $12ks as it seems there's plenty of money on the sidelines at the moment just waiting to get in on a dip. Still can't rule anything out, but I find it unlikely we're going to revisit the 4 digits in the near future.

BrewMaster

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Quote from: thecodebear on July 10, 2019, 10:36:26 AM

Quote from: UnDerDoG81 on July 10, 2019, 09:32:56 AM

Quote from: thecodebear on July 10, 2019, 09:27:27 AM

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

Agree the part with owning one whole bitcoin. 4 digits, I think we will see them.

I'd say extremely unlikely. It BARELY managed to break down through $10k on the last correction, only hitting high 9000s for a matter of hours. Doubt any future corrections will go as low as that last correction. I do expect a bigger percentage drop and longer drop after the next surge, but think it'll probably dip to 11k-13k in september during the next correction, 4 digits seems out of reach now.

the 4 digits is definitely gone for good unless something very bad and unexpected happens! otherwise the more we stay above $10k the stronger it gets, it has always been like this. not to mention that we are on an uptrend that has been going on strongly and so far no strong trend has ever changed direction for no reason which makes less than 4 digits that much less unlikely.

Oilacris

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Quote from: The Sceptical Chymist on July 10, 2019, 10:29:36 AM

Quote from: thecodebear on July 10, 2019, 09:27:27 AM

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again.

Holy crapoly! I hadn't checked the price of bitcoin for a few days and just did--I'm surprised it's gone so high, but truth be told it makes me a bit nervous. I've always said bitcoin shouldn't rise too fast too quickly, and that's kind of what's happening right now.

If the price stayed right where it is for a few weeks or a couple of months, I think that would be a good thing. If we had a dip or a reasonable correction right now, that would also probably be good.

Can't get back to 4 digits? Um, yeah. Have you been following the bitcoin market for long?

Theres no such thing for bitcoin on not going back into these digits.We do basically telling this thing when we are heading up to 20k where we do say that 4 digit price cant be seen anymore but the price had fallen back.Making out conclusions would just frustrate you since bitcoin can surprise us out anytime. Cool

omonuyak

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Quote from: thecodebear on June 23, 2019, 03:40:14 PM

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

The corrections has happened this time last week and bitcoin was push back to $9600 at bitstamp. However, since then bitcoin has recovered from the pull back and it even went as high as $13,177 early today and it still remains very strong at the uptrend.

thecodebear

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Quote from: The Sceptical Chymist on July 10, 2019, 10:29:36 AM

Quote from: thecodebear on July 10, 2019, 09:27:27 AM

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again.

Holy crapoly! I hadn't checked the price of bitcoin for a few days and just did--I'm surprised it's gone so high, but truth be told it makes me a bit nervous. I've always said bitcoin shouldn't rise too fast too quickly, and that's kind of what's happening right now.

If the price stayed right where it is for a few weeks or a couple of months, I think that would be a good thing. If we had a dip or a reasonable correction right now, that would also probably be good.

Can't get back to 4 digits? Um, yeah. Have you been following the bitcoin market for long?

Yup I've been following the bitcoin market for a bunch of years. And yeah it looks to me like 4 digits is gone forever. It looks very unlikely to dip lower during this current correction than it has already dipped since it is working on building back up to the high from last month, which means 4 digits ain't coming back during this correction. And while I expect the next correction to be deeper than this one was, i think there's no way is will bring the price as low as the low from this correction. The next correction will miss $10k by probably a couple thousand.

thecodebear

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Quote from: UnDerDoG81 on July 10, 2019, 09:32:56 AM

Quote from: thecodebear on July 10, 2019, 09:27:27 AM

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

Agree the part with owning one whole bitcoin. 4 digits, I think we will see them.

I'd say extremely unlikely. It BARELY managed to break down through $10k on the last correction, only hitting high 9000s for a matter of hours. Doubt any future corrections will go as low as that last correction. I do expect a bigger percentage drop and longer drop after the next surge, but think it'll probably dip to 11k-13k in september during the next correction, 4 digits seems out of reach now.

The Sceptical Chymist

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Quote from: thecodebear on July 10, 2019, 09:27:27 AM

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again.

Holy crapoly! I hadn't checked the price of bitcoin for a few days and just did--I'm surprised it's gone so high, but truth be told it makes me a bit nervous. I've always said bitcoin shouldn't rise too fast too quickly, and that's kind of what's happening right now.

If the price stayed right where it is for a few weeks or a couple of months, I think that would be a good thing. If we had a dip or a reasonable correction right now, that would also probably be good.

Can't get back to 4 digits? Um, yeah. Have you been following the bitcoin market for long?

UnDerDoG81

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Quote from: thecodebear on July 10, 2019, 09:27:27 AM

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

Agree the part with owning one whole bitcoin. 4 digits, I think we will see them.

thecodebear

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Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

EdenHazard

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Fundamentally is not happen, the big correction will come if there is no good information come and I never met a speculation that says bitcoin will face a correction so far. Can you look at the sentiment market now? A lot of speculation spread up that bitcoin will break up to $15.000 and I believe if the price of $15.000 has been achieved then the speculation will be say $20.000 is the next price will be achived. Sometimes you have to remember when we were in the bearish market, there are many speculation that bitcoin will down to x price and it has happened the such condition will be happen in the bull market codition.

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Price correction with bit is quite simple way to get the market moving without any form of large scale variation being experienced in the market. There is a common thinking that every price correction will cause a drop in the price and further will be the increase in the market. To me there is no more price correction to take place, even if something happens it will not cause a big drop in the market growth of bitcoin and other cryptocurrencies.

timerland

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Quote from: thecodebear on June 23, 2019, 03:40:14 PM

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

I personally think that the support has been tested with the dip a few days ago, and it held up nicely.

The chances of us seeing a major correction is still there, but I think there is still ways to go before we see one since the market right now is starting to feel euphoric. But even if a correction comes - the likelihood of a flash crash down below five figures is still very unlikely.

Besides, the fundamentals are there. Nobody can deny the fact that institutions are clearly showing interest, as well as the fact that a markets are more mature this time compared to 2017.

I think that the best accumulation phase has already passed, although I'm not saying that if you are a long term investor, you can't accumulate now.

exstasie

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Quote from: gentlemand on June 24, 2019, 02:09:31 PM

It could be the beginning of something considerably bigger, or not. I wouldn't act like anything's in the bank whatever happens.

Nothing's in the bank of course. Technically this could still be a bull trap like the May 2014 rally, although price has retraced quite a lot farther this time.

Sentiment is also markedly different this time too. The May 2014 rally was full of hope and optimism, in fact I bull trapped myself on that rally. Looking back, those were classic bear market conditions. People were much, much more skeptical and pessimistic about the current rise. We climbed the wall of worry this time. That's typical of an emerging bull market.

Topic: Will Bitcoin will correct back under $10k or are 4 digits gone for good? (Read 647 times)