Bitcoin Forum

There is a saying in my country about our currency always decreasing against dollar: "The dollar does not fall, it just takes momentum".

I think this is quite true for bitcoin at this moment, and that is why nobody is worried about bitcoin $500 correction!  

Bitcoin price is always at the peak .Now it was only the value of 7000$,soon it will move to the next value of 8500$.Atleast this will happen at this year end.If it happen means,the value will get stable at the value of 7500$.I am waiting for that

While it may rise against your local currency, the dollar obviously falls relative to goods and services just about all the time for the last 100 years.

Since the dollar keeps falling, BTC will continue to "rise" even if its value relative to goods and services stays approximately the same, because it is measured against fiat currency.  So if people value BTC as high as they do now in 50 years, they'll most likely think that the price has more than doubled, even though it's actually stayed the same.
I think it's impossible to tell when a bear market is going to come, but it usually happens when people are the most complacent.

Mmhh not sure about that. 2017 was already a pretty incredible year for bitcoin's price. I see him drop for 2018 - 2019 just like post 2013 peak. Money don't grow on tree.

Yes you are right. There's nothing to get worried of even if btc falls back 500 or 1K it is nothing. Minor corrections from time to time is normal with btc especially if the increase in a week is very drastic. If you can still remember the month of September where btc had a major setback and most investors didn't even flinched because we know that btc will bounce back in no time.

surely it cant keep sustaining ??? i hope im wrong but just seems crazy to think it can hit 20k without a decent drop first

People seem to have very short memories. Was the fall in price in 2014 from $1200 down to $200 just taking momentum?

Lol that sounds extremely silly, but it has some truth to it. Bitcoin does fall, but rather than a bad sign, investors typically think of it as a good thing. They consider it dips, and basic investment knowledge say you buy dips.

Bitcoin's fall from $4500 to $3000 during the entire China ban FUD was very real, but investors saw that as an opportunity and has grown their money by more than 100% since then. We were able to recover within a few weeks lmao. But yeah, falls invite more demand, which can be considered momentum. This cycle can't last forever though, as there inevitably has to be a ceiling.

Why are people so worried about a 500 usd drop after a 2000 usd climb? That is just normal price correction and is needed for growth.

I expect a much sharper fall immediately after the fork block is mined though.

yes you are right bitcoin is currently being corrected price and pull some profit, do not worry drop because price will go up again.

should be worry about that, only newbie traders who panic and sell bitcoin. Let's market say, and the idiot govt and banks will see the growth of bitcoin. They will regret why they not embrace bitcoin. It is time for general people to be wealthy after more than 100 years money owned by bankers, Now money are in the hand of crytocommunity.

the $500 drop was a small drop because it is $500 out of $7500 not $500 out of $1000 which means the percentage is small (~8% while the other is 50%) and that is why nobody cares. but also there are still those who panic which you can clearly see on the charts with the big red candle representing a big ass dump from panic sellers.

and these days everyone is buying more bitcoin rather than thinking about selling anything. and since the number of investors has grown a lot, it means the drops will also be so much harder and slower.