Bitcoin Forum

It did rise a fuck ton last weeks. Now segwit is in. What are they fueling the hypetrain with next? Time for a correction?

sorry bra the correction has already happened down to $3600 and the "hammer" of Thor is also visible after it ;)

https://i.imgur.com/SxUSXIv.jpg

Well, this is just a natural cycle for Bitcoin. In fact, a lot of people are actually wishing that Bitcoin can dip a little so they can get in cheaper. Price corrections are a way for Bitcoin to avoid a big bubble which is not healthy at all. The market can always find anything that can be the reason why the value can go down but we have seen Bitcoin getting resilient all the time. Just hold on to your Bitcoin and you would be fine as the train is moving up.

Right now, some people are worried about a fork with Segwit 2x. If that doesn't happen, the price could start rising again. We could say that with respect to Bitcoin, the market believes that no news is good news.  ;D

Yup, correction had happened when it went down to $3600 but now it has rebounded to $4100 so I think the Segwit activation is already price in. But let see, if  the steam will continue to the next stop of $4500. I also surmise that there are still new faces who want to enter whether if there is a dip or not. So likely that the price could go along the line of $4500-$5000.

I'm going to hold on I much as I can. I don't want to sell and regret it later when I see the price goes up. But sometimes its really hard when you see that your initial investment has already tripled or quadrupled.

I also waited for a dump on the news. Never mind, it is nice seeing BTC rising strong but I guess there will be a minor down trend... when the excitement has worn off.

The real question here is how long before Bitcoin can't be stopped on its exponential way high? Billions of fiat money found their way into crypto and we should already be over 10k per BTC.
I understand how they control the Gold market but I don't think they could do the same with bitcoin for long.

Time will tell

The same cartels that are manipulating the Gold price, might shift some of their Gold investments into Bitcoin and as Bitcoin whales, they could manipulate it's price too. This can be done with any commodity, if you dump enough fiat into it. The super rich can manipulate what they want, when they want to, if the market is small enough.

This might already be the case, because most Bitcoin owners are early investors and those coins are not in circulation. So the available bitcoins that shift market prices, can easily be manipulated on several exchanges.

The thing that will fuel the hypetrain next is BTC staying strongly above 4k USD. I guess a lot of people sold on the way down from 4.4k USD in the hopes of a drop and buying back in later. Should no major drop happen those people will try to beat each other to the hypetrain before it's leaving again.

it is probably already too late ;)
it usually is, the news always makes its effect when it comes out not when it actually happens and news came out a while ago and now it is the "due date" of that news. which means any kind of dump the news has already priced in and we are back to normal.

I think we are safe now correction was at 3600, and someone tried to push price down, couple times without success, we can expect now uptrend. Why not, now when everything went fine and when Bitcoin showing strength. Crash didn't happen, as it was expected.  ;D   5000 here we comes!

With crypto you just never know what's going to happen next. People thought that $2,000 is too high and were waiting for correction to buy the dip, than we suddenly got $3,000 after August 1st and people again wondered if it's the top, now we are at $4,000 and as always no one knows what will happen next. If you want to make educated guesses, you need to gather some information about upcoming events from miners, developers, major services.

No dump imo. Why? Because weren't going parabolic to 6k+. Everything is priced in, the market knew SegWit was coming and in between the upwards movements which partially had been pretty steep, we saw regularly cool downs.
So imo the actual price is pretty fair and can not see any crazy dumping happening without any siginificant reason. The next thing we need to pay attention to will the 2x/NYA FUD and their coming fork in November. This will definitely influence and shake the market again.

The actual cool stuff that Segwit is reputed to deliver?

Right. But you know what if it happens when there's a bit dip, do you think many people will buy? What would happen if it goes cheaper? As I've noticed it's been increasing every now and then so I guess the best thing to do is you trade your bitcoin first before it dumps to a lower value. Normally, we see bitcoin as a circulating moment it's either on top or at the bottom cycle, it's still goes back to its normal track wherein the value rises and the rest will follow. This will still be useful in any modes of value that it has to offer in the market.

I already accustomed to such jumps. This year there is certainly a lot, but I always keep calm and after the fall of bitcoin always rewards its supporters by raising prices. People are to blame for the fact that bitcoin has become an object for speculation.

We can surely speculated every movement of bitcoin and many have been very afraid because of the sudden uphill of bitcoin they don't know when it is gonna fall down it is very unpredictable right now, and I think there will be a lot that's gonna surely sell their bitcoin out from fear again but I hope they can think twice before doing it.

Basing on this technical analysis it really indicates that the correction do happen since hammer have already appeared and the best time to entry buy orders is on that opening of the next bullish candle but knowing cryptocurrencies technical analysis might work sometimes it wont this is why its really confusing if this would be the right time to buy coins while its still low in price. Somethings coming up on next month or on this year.

Yes it is just a speculation. Nothing bad happened right now. The fixed bitcoin price has high rates. I hope that there will be price increases in the next few days. There is a trend that will make the bitcoin price increase as the number of bitcoin users demand.

Instead of worrying about what "they" will do next, its either you wait for the actual thing to happen because no matter the outcome, you won't be satisfied in the sense that, you either say "they" are pumping or "they" are dumping. So, its high time you acting in the direction you want the price to go either higher or lower then we can classify you too as among the "they".

what news? LOL!
i think you have heard something somewhere but you don't really know what they were talking about.
dumping the news means when the good news comes out and price rises, you sell. not a week after the news and after every rise happened and everyone sold and it came down and the bottom was reached and the correction was over and then price recovered back up too!

you like the guy who got the party when everyone is partied out and are leaving and are shouting "lets get this party started".

right now we are getting ready for the launch to the moon.

I think the corrections has happened three days ago and I could recalled the price went low to around $375 according to data from most of the trading platform. Maybe we would be moving towards $5000 any moment from now and the next fundamentals issues we may have will be November were another hard fork issue will come up. I don't think we would have another corrections before November but we may have  little take profit time to time.

I thought I am going to read things about BCH in their comments but I am wrong.
Looks like different opinions are being thrown here.
I see a lot out there telling it is because of the investors switching to BCH and the miners too.
I dont care much about this price that is going down, that is why I dont want to see the exchange into how much bitcoin is right now in USD. I would rather just hold it and wait for the spectacular fireworks that will come when we are all celebrating.  ;D

No such investment commodity is free of speculations. When we talk about a decentralized market, situation rather intensifies. Bitcoin can't really be free of speculations and speculations indeed play an important role in driving the price.

I don't think there is any reason left today for any dip. Correction have already happened when Bitcoin went to $3700. Everyone is keeping the July dip as an example of a correction that happens when Bitcoin is allegedly "pumped". But the July dip wasn't a natural correction. It happened because of decrease in demand due to Fork uncertainty. Leaving that month Bitcoin was continuously in uptrend this year with some really short termed dip. This shows there is a genuine increase in demand and thus surge in price is genuine and not a pump. This trend will continue further because now Bitcoin is becoming more and more popular.

Everyone followed the rule "buy rumors, sell the news" but they sold a little early and the dump already happened, down to $3600

Better buy before new ATH are reached.

I think correction is already over when it dips below $4k few days ago. Now price might get another round of pump which can push price to over $5k easily. Like speculated by many price will be over $6-7k by end of this year, last round of pump was not fueled by only high speculation and hype over segwit activation.

The problem is that the price rise has been particularly sharp over the past month, and even over the past 8-10 months. So people are hesitant to buy at these levels. They will eventually come in.  :)

Although the correction has already happened when the price down to $3600 but i think we still not at safe position may be we will see dump again because the price looks not really strong and some people still keep trying to dump the price.

I'm torn. On one hand, this looks like a bullish consolidation. We also had a big wick off $3600, indicating a lot of buying pressure. But the longer a flag/top consolidation gets, the more often it tends to break down. So I think there is a decent chance that we get at least a pullback to build support at $3,800-$4,000 if we don't get a retest of the bottom. But I'd still expect to to continue up after this.

On the other hand, you might be right. Maybe it's a "sell the news" event. We did rise considerably with the BIP91 hype and Segwit lock-in... now that it's all done with, who knows?

All i know is, I'm happy if it dumps.....I would love to buy some in the $3,000s. :)

True, I never know where is the dip. I just wait days, lost my pattience and then think that is the dip, and buy right there, just to see it falling again.

Actually $4100 seems to be the floor. Market is just taking time before it goes high. But I might be wrong.

It's anyone's guess in the short term. I really can't tell from sentiment; it's very mixed right now. If this were going to form a Wyckoff-type distribution top (an M-top), we would start seeing resistance soon.

I'd agree that support at $4,100 looks solid. I think we all can see that Bitcoin is going to go considerably higher, but it's really hard to predict the short term. I wouldn't even be surprised if we stagnated here ("sell the news") and ran stops below $3,600 before continuing up. Wouldn't that be the perfect troll? :P

There is no dip happen since there are many newbies trying to make a thread that bitcoin is dying just to try to panic sell bitcoin they can't buy cheap bitcoin right now because of the improvement added and now the segwit activation was activated done from few hours ago i think we will see much more price increase these coming days instead of the price dip..
Well the movement of the price right now are normal so i don't think if it is good to sell bitcoin instead if we seen the price down better to buy just to make more investment and sell when the price increases more..

sorry to disappoint you but the drop time is over and price has started to move upwards. currently it is above $4300 as i am typing this and there is a bigger chance that it will soon try to test the ATH and probably even break it to reach new records in history of bitcoin.

of course there is always a chance of drops but if we are speaking of chances here then the chances of reaching $5000 is 100 times bigger than the chances of price going below $4000 again!!

Not the correction this time mate, now things will go for some other things, the correction has already happened and now the bitcoin is rising price once again, this price gain may be continue for the next couple of weeks and then will we see the pre-effects of hardfork. So, for now things will be kept going smooth most probably but can change in the mid Sep.