Bitcoin Forum

Typical retrace when the acceleration of the price is too steep and it fails to crush the ATH mark at first attempt. Well good news for these that still didn't buy, time to buy the dip and enjoy your $5000 coming near your soon. Clear ascending triangle still at work and if you get out now you will make a great mistake. We aren't going any lower. $4600 is the lowest attempt if you want to gamble to get as close as possible to the retrace. If you have been around the bitcoin game for long you should know that taking these chances is a mistake, just buy the dip, this big red candle will not last.

A year ago was $700/BTC.
Do you understand the great painting?

One year ago nobody was giving $1000 but now they suddenly get bored and give $5000?  :D

So many people miss out , because they want cheaper coins. In the end, they may keep waiting for ever. In the long run, it might not make any difference whether they purchased at 4500 or 4700.

It'd be interesting to hear your analysis on what makes you think that $4600 will be the baseline price. Don't get me wrong, I think we'll be seeing a new ATH very soon but that's not to say that it won't have its hits too. Sub $4000 is still very possible. Either way, buying at around the $4000 or $5000 won't make much of a difference come 2 years time. Both would be considered bargains  ;)

actually we were not in the 'dip' but instead we're in the 'run',
if you look closely at 1d chart,we are at the peak right now and slowly trying to break the resistence.
in the next few days later on we should see another split which is caused another coin appear.
and i believe a few days before that event happen,the price should be around $5000 or even more.
many people take this chances to get a free coin that is why the price is pumped.
but we should see another small down to gain the momentum before take off.
after we break that $5000 marks,seeing $4000 is understandable because many people will sell some of their belongings.

no matter what will it be,
Bitcoin still has a lot of potential in the future,and every year the price should be entering another ATH.
nothing to worry about

Buy now and sell at 5,500 before the end of the year,  is the best way to profit, without being too greedy. IMO of course.

That's normal. I remember that when the price was still far below the $500 mark, I stopped buying because I had accumulated enough coins already, and was only interested to buy more if the price went back down.

Instead, it went only up and up. It has all to do with market sentiment, certain important developments, think about the activation of SegWit, countries legalizing/regulating Bitcoin, and the list goes on.

People (those who haven't brought anything yet) right now have the feeling that they missed out big time, and for that reason want to enter this market at any cost. Great thing is that Bitcoin has an insane amount of future growth potential.

In other words, even at current levels, it's still a great long term investment.

Hi BitHodler,
Just curious, did you sell some since? Or still holding everything you bought when the price was below 500?

i completely agree with OP, it is the same story every time the ATH is tested to be broken again. even same patterns can be seen on the charts,
- price trying to break ATH,
- not succeeding,
- drop,
- consolidation
- rise to test again.


and a little before that it was $400 and before it was $200 and people were complaining why bitcoin is too expensive.
i just posted this comment: https://bitcointalk.org/index.php?topic=2254789.msg22840552#msg22840552
to share a link of people were complaining that price is $20-$30 and it is too expensive it should drop to <$1

hope you see the trend ;)

i am usually the one who makes a topic like this :)
but i usually do it before a major dip, i didn't see any major dips this time, although this dip was good too and in my opinion these types of dips are mostly good for traders who want to make some nice amount of profit in short term.
most other investors who are (mostly) long term investors can buy anytime they want an still make profit.

It certainly was surprising how people is willing to buy bitcoin $5000 now when it was not even worth 1000$ a year ago. Still I agree in OP's points for now bitcoin won't probably go lower than 4600$ in the near future but it might be possible to go way down beyond in the far future. Still I don't see it happening soon so buy now the dip that occurred is quite good IMO.

Long-term investors look at nervous novices and smile. Now is a good time to buy coins. But I do not have free money for this. It upsets me

It's pretty simple, I just look at the previous resistance points and those are the places where I expect Bitcoin to bounce back towards ATH because at the end of the day, people want free money, and Bitcoin is the place to be with all these hardforks coming. People want to receive their free Bitcoin Gold and their Segwit2xCoin forks and dump them for more real free BTC, so these resistances will be very solid. As we are seeing, we are back to $4800+

I expect the ATH resistance to be broken this week, next week as of late. It will try for a while in the current ascending triangle formation so if you day trade and like risk you can try on that range.

Reasoning is correct but not complete.

To judge frankly: Bitcoin Gold brings only 5% profit (super super optimistic)
But buying BTC ($800/BTC at the beginning of the year) with $5000 is a major risk (because BTC doesn't cure cancer ... yet)

It's not a risk to buy BTC at $5000 if you believe in what bitcoin can accomplish long term, it's not risky at all.

And now on the technical perspective, we are going to test $4910 soon, if we get through it then we will have a second opportunity to reach ATH.

And on the fundamentals, the price will keep rising after Bitcoin Gold. November is still far, 20 days is a long time on crypto, we could even reach $6000 before the segwit2x attack crashes the market, and that's a cool $1000 gain if you buy at $5000.

Last year halving cost is only price was around 800$ USD but this year bitcoin cost started raising after this year February so from that time now price increasing continuesly without big trouble.
Anytime bitcoin investment to buy is good because price potential takes to flight in future for sure.

I agree with you, but honestly this isn't the dip. The real dip was when when btc fell form $4800(what's it back to now) to $3000, I was saying out loud that it's the perfect time to buy, probably the last time we saw $3000, but people were more busy selling because they thought BTC died, because what? China banned some shit ICOs or Jaime Dimon called it a ponzi. People, other than the truth BTC enthusiasts, will never understand.

I think you missed the opportunity, when prices were closer to $4000.

There will be another fork in more or less 10 days, I think it is unlikely that another dip wouldn't happen.

Still can't believe people were selling because of this "chinese" news. People tend to get too emotional and overreact to anything these days.
The dump caused by China ICOs banning is nothing in the long term perspective (IMO of course).
 ;)

The next dip will go to $5000.

That's what we call dip waiters, I mean the people keeps on waiting for the dip. It will never get lower again at $3,000 or $4,000 I had agree with Billy that bitcoin's price will be lowest at $4,600 but it's still quite early to wait for the dip while the fork isn't done yet.

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I guess that's the proper dip and it's what we call as the correction and if you are not able to buy at that time, you'll can't move on as we are now skyrocketing.

As predicted by you, today we see another shot at $5000.

Resistance is quite strong, as seen before. However, once this resistance is gone, we should not only see bitcoin rise above $5000, but potentially much further up than $5000, along the lines of around $5200-5300.

If there are any more dips below $4750, buy them.

You have to be crazy to get bitcoin right now. Within five minutes, the price of bitcoin came to $ 5200. We have to wait a while. Maybe it's a temporary price increase.

That was a cascade of short liquiditions.
Let the fomo settle and the price pull back for a moment.
And this is a good entry! Why? Because we broke the sideways channel upwards! Actual target for many traders who go long from here will be 6-7k at least!

That target price is a near speculation the price might went because it might drop when the Hard Fork comes near then I think that is the best time to buy bitcoin, but for now it is good to hold on to your bitcoin for now until the price ricochets back down.

It is a great painting indeed. Mass adoption is what we will call it. Most people ended up realizing that bitcoin aren't the usual fiat and not a joking matter and decided to look more into it until they realized it is a value worth investing in at this stage and at any price they can get it now. Some of us met it when the value was not much and so many people in the future will even consider today's value as extremely cheap and wish they had gotten in earlier.