Bitcoin Forum

When do you think the correction will happen?

It's weekend and usually people tend to take their profits at the weekends.

Not yet. We are stilll riding the post split wave of enthusiasm. most people werent aware of what the split really meant; there was a lot of fud and greed that jacked the price around. now that we are past that, folks have gone full retard. like Tropic Thunder taught us, you can never go full retard. This is a bubble, pure and simple. it pains me to say that, because I heart bitcoin, but I would ask anyone that reads this to explain to me why bitcoin is 3x the price of gold. and if you have an explanation, then come trade me my bitcoin for your gold. because if the electricity goes off, i will still have that gold. and you will have regret.


crypto aint everythang.

I'll probably buy a good amount of gold when I'm older, but not yet.

You can invest to "next gold" of future now: Buy bitcoins like there is no tomorrow ;)
When btc price hit 10000$ panic sell will start as we know from history:Emotional levels on chart. Logic cant control market because emotions already have full control ;)

I don't believe panic will start if price will reach $10,000, because  am still confident that 90% of the investors is not making bitcoin as short term investments. Mostly are long term investors and they only sell for an important reasons, but not in a rush decisions. To be exactly fair with most ideas, we will still be more open with more possibilities to happen and if ever that happens; well it's a matter of emotional management and always observe market trend  just like today price is spiking higher and getting pumped always.

anything can accident about panic sell
but if bitcoin price incraese is bitcoin user never panic sell, if bitcoin price down and crash, ussualy much people can follow sell bitcoin balance, this mean panic sell

In the same way, explain to me why gold is a better investment than bitcoin?

What do you mean bitcoin price correction, when? Bitcoin price is correcting upwards right now.

Correction had happened just a few days ago with the price hit $3300. Why you asked? Didn't buy when the price dip? LOL. It might take a while for the correction to happen because we still have the Segwit activation later in Aug 22. The train has gained steam again and will make another run at maybe $4000. Do you think that they are going to cash out yet seeing that the price is going up? Of course not, they will not take profits now and will try to maximize their returns so more investors are holding. A dip will only happened today if let's say a big investors really pull out his funds causing panic, but I doubt it will happen. Its more of a panic buying now to not miss the hype train heading for $4000 in coming weeks.

if we want to see price correction, we need to wait for a moment because the price still moving up but i am sure beside the price is increase, there will be a down or maybe flash dump for a little and that is the correction price although it is not too deep. i think many people is waiting correction price too because they want to buy bitcoin before the price is increase and maybe will reach more higher than now.

It's not.  Gold has done nothing for years now.  It's been stuck in the same narrow price range for about 3 or 4 years, whereas bitcoin has exploded.

I still don't get why people have the need to compare gold to bitcoin.  They're so different.

Anyhow,  we'll get a correction pretty soon I think.   But come on,  if you could say when it was going to happen you could time the market perfectly.   No one can do that without a little luck.

the corrections these days are barely worth the trading fees and hardly worth the risk. Selling is just plain stupid right now.

no, this is mostly a misconception. there is no reason for a drop on weekends. bitcoin market doesn't know weekends, it is global and a 24/7 market. and besides if you check the charts you can clearly see that there are too many exceptions for your rule which makes it wrong.
in other words sometimes it happens and there is a dip and sometimes it doesn't happen and there is even a rise! like this time where price is rising instead of anything.

Naah... Bitcoin tends to have no time zones and no weekday specific trends. If anything, it seems to be strongly increasing on a Saturday morning. So just enjoy the ride until it lasts.

Statements like this mean we are getting closer to a top

There's a good chance that long time holders will sell some of their coins at 10k. Many people have been waiting for that number to sell. I would expect a dip around 10k because of that.

the question you should be answering first is "why are you looking for a correction?"
your question right now makes no sense. if you want to buy just buy and sell before the correction, waiting for something that may not happen for another $400 rise is absurd. you are just wasting your time while missing out on the rise.

and it is bitcoin we are talking about, which means even if you buy at a bad time, you just hold it and the price comes right back up!

I don't think there is a need for correcting the bitcoin price, no one has ever done that because bitcoin is fluctuating, no one can actually tell the exact value of bitcoin and this is really unpredictable and there is no debate that if weekend the price might get lower because there is no users that are really dumping out of nowhere when it is weekend they are dumping out of fear mostly.

Certainly ;)

Let's start off by saying gold is real. To be honest that's a winner winner chicken dinner right there, but let me continue. Gold has utility. From medicine to art, from electronics to mechanics, gold serves a vital function because of its inherent chemical or aesthetic properties. Gold is rare and hard to obtain, and hence, along with these other features has been used as a medium of exchange for an eternity. Gold is trusted, gold is widely accepted, and if you know how, gold is actually fairly liquidable. And the price of gold is fairly stable.

Then there is bitcoin. Bitcoin, although indeed tasty, is not real. Bitcoin is literally 1s and 0s in a decentralized database. An upside is that you can't confiscate it per se (there is no substance). Bitcoin has no utility outside being a speculative assets and a medium of exchange. I can't eat a bitcoin (you can nibble on a paper wallet, but it doesn't satisfy). Also, to make a bitcoin txn I must be connected to the web. If there is no web, you essentially have no access. If there is no electricity, you have no access. Bitcoin, while highly liquidable on exchanges, are not widely accepted at all in the real world. And the price of bitcoin is like riding a mechanical bull. It's a blast until you get dumped on your ass ;D

Have you ever considered why satoshi chose the term 'mining' to describe the mathematical process of solving a block? ;)

I agree with you . The current bitcoin trend is on the rise, so the decline in my opinion will not happen in the next few days.
See this positive increase graph I assume bitcoin can reach 4000USD and will survive at these price rates.

Bitcoin is now being pumped and whales are just trying out how far can they push it untill it falls, then we will see again that 2500/2700 range for some time. I've been looking out of curiosity at the buy and sell offers on some exchanges and literally saw someone out of sudden setting a price of 4000 with lots of tiny buys just to make other people give higher buy offers and then he bulk sold it with pumped price. Bitcoin isn't going that fast up only because of it's features and technologies. It's sensible to expect bubble explosion, but as I said the bottom is still at least 2500.

People take profits when it hits round numbers. So $4000 is the target, and only after that is hit will it pull back. It's true that sometimes there are dips on the weekend, but that is due to the difficulty in moving fiat to the exchanges on the weekends.

(I initially thought the Bitfinex thing would hold back the price, but the market is ignoring it for now).

chances are there will not be in the know with the price of the bitcoin, when we have a correction about the price of bitcoin, maybe if the weekend price might be lower because there is no user who really dumping out of nowhere when the weekend they're throwing away for fear of the majority. and this can not be predicted precisely