Bitcoin Forum

Does this current bullish cycle not worry anyone?
Most people that know how markets work know that healthy markets need to correct to continue growing.
The current bullish cycle is larger than the first and second one, where we saw some nasty corrections, meaning things could get real dirty, real soon.
Market cap has increased from $250B to $310B within 7 days.
I want to know what people think.

https://gyazo.com/d0acc37f197a677ac4752650c7e94e77

https://gyazo.com/d0acc37f197a677ac4752650c7e94e77

That's treu and most of the crypto investors are aware of it. The market is reacting positively because of the positive adoption news coming from every corner of the globe. CME group is about to start their crypto futures contract shortly and many traders and speculators are betting high on it. So we all know that a correction is imminent. But we are also sure that it won't be long before the market bounds back. A little correction is needed to take the next leap and also it will give us another golden chance to score some more bitcoins at a cheaper price. The entire market is running high on positivity so the correction will only be a very temporary phase.

This is on point. Correction always happen on any type of market but with more people investing in bitcoin, price correction will surely be temporary. Just hold your bitcoin because 2018 will be another great year for bitcoin holders.

And why we should be worried, corrections are a natural thing to happen in a market, if the price goes down I do not have a problem with that, the only ones with a problem are those that bought at the top and are going to lose money because of it but for the rest of the people in bitcoin that are holding for the long term do not care if there are corrections since they will probably still be on profit no matter how big is the correction.

Are those really even corrections? I know the first "correction" was the China ban, but what's the second one? Wasn't that the Bitcoin Cash attack? I'm not expecting a massive correction, but then again I'm no expert on the subject.

Either way, if we're basing off past bull runs anyway, we can see that it has come back stronger each time. You also say healthy markets need corrections to keep growing, so one coming should be of no concern. If you're a HODLer with long term plans, you have nothing to worry about at all. If you're a trader, then it may be time to sell and wait for the dip, if it really will even come.

All has been watching very keenly when will this correction occur. From the all time highs of both $7k-$9.9k there is no recorded fluctuation in pricing only the opposite of it and it still rises. Correction will strike the market soon but there is no need to panic. It will not crash only a correction.

Nothing scares me like the upcoming correction  :o :o :o
I'm really afraid that correction may be such powerful and huge, that we can lose a lot of current players at the market. Maybe it's time to burst to be reborn as a phoenix?

But mostly, I care about my savings in BTC  ;D

Cryptocurrencies are adapting the technology. But, if the balance is not good, then corrections should be done.

That's really good point, I've recently stopped thinking about crashes as corrections because they are simply a part of specluation. To put it simply, the price is growing because there are people who buy because they believe that the price will increase further, while most of others who have bought earlier wait out of fear of missing out on bigger profits. But when buying stops, the trend reverses and people start selling because they see no growth in the near future - so the price quickly crashes to some lower level. This is essentially what "correction" is all about - the price goes from "overpriced" to "fair" or even "underpriced". But with Bitcoin it's a bit different than traditional markets - Bitcoin may crash due to huge speculation on some FUD - like China ban or Bcash pump recently. It is also very volatile and no one can really tell what is the "healthy" price for it, so Bitcoin usually recovers from corrections (dips, crashes) very quickly, which means they might not really be corrections - Bitcoin's value rarely stabilizes.

For your own good remove what has happened in stocks and forex markets from your mind as this is a new market and price behavior is quiet different. People has been saying bitcoin price is bubble others saying the upward movement is abnormal since bitcoin was $1,500 July this year but were are we now?  If you have bitcoin hold and if you don't have buy.

Seeing Bitcoin rise at such a rapid speed it is known to the experts that a correction is indeed necessary for BTC to grow steadily.
A large red candle was seen today as a mode of correction and BTC is now having a good support at $10400 . This could be a strong support line for BTC while aiming for the $11000 resistance. I think the correction is done now and BTC won't go much deeper than this. We can see a bullish run again for a few days before we see it suffer from another correction.

Of course there will be correction and that's inevitable, the only thing we can do is to be prepared to this correction and of course mass dump will be happening before this year ends, so better gear up and get ready for time because for sure everyone will get affected by this correction.

Whatever they are planning, soon many people will realize how Bitcoin will replace our old way of our transactions (Central Banks), but as of now it's still needed. I hope it will not fall down below $10k when that happens.
The rise of Bitcoin will continue as long as the Internet remains available. We also need part of the population to have access to computers, and we need enough redundancy in the blockchain for the Bitcoin transaction to be maintained.

It definitely worries me, but I don't think I'll stop holding anytime soon. Sure a correction could tank everything, but in the end, there is strong support for crypto going into 2018 and that's really the only reassurance that I need for now. It also amazes me how quickly and firmly bitcoin broke the 10,000 sell barrier wall. It seems like this bullish run could keep going for a bit longer before the corrections come into play. Not sure if this is the best opinion you'll get, but this is what I've been going with for the past few months.

Yes this analysis is similar to what i have posted before
on a different thread. There is and will be more adoption
and acceptance of bitcoin and following on from crypto
general.

The value now being over $10000 is this the proper rate
that bitcoin should be at? Was it always "undervalued"?
 :o

Yeah, seems like prices will all drop after a few days and it will all correct since the prices are all based on bitcoins and bitcoins are pretty high right now. But I think it will all go back up since it will all drop by a lot and for sure investors will see this as an opportunity to buy more alts. This is the usual case in crypto trading, alts die when bitcoins goes up and when bitcoins are so high then altcoins will be so cheap that people will buy them back.

A lot of people say that cryptocurrency is in bubble but i do believe that its not and it will keep on soaring higher. The price of altcoin might correct but it will not last longer. This is the future, watch ou for this.

i think correction is just a formality for the things that must be done
Thats why theres a management team sp everything in the corculation
Should be in proper system.and flr me theres nothing to be bother
Because of correction that might bring dump to some coins specially
Bitcoin but the holders must not panic we know how strong bitcoin is
And it will recover for sure much bigger

We are far from being a market big enough to be corrected.

We still have a good margin before that, look at the market cap of Apple

Correction will be made very soon because right now the market is in big voltaile condition. May be very soon price will be consolidate at one point. Soon there will be correction for exact price of the coin.

It is just small compared to any multi billion market but it is stil ldecentralized and the issue of anonymity is there so i think market correction when it will go to at least 15k$

Yes, healthy market is always with correction. Sometime when is pump so high without correction so it has potential to dumb so low also without correction.but special for bitcoin it will not happen in my opinion.

Market capitalization will continue to grow as many people are interested in the crypto market. Where traders can make a huge profit.

Yes, but somewhere there is a limit to the capitalization of profits by people. Correction may be soon.

It depends what you mean by correction, for me as long as we stay around 8k, it's not a big correction ,just a normal fluctuation of the trend

The healty market is always correction and market capitalized to continue to grow up many people by profit and interest into the crypto market where traders make a huge profit but special for bitcoin it not will happen in my opinion.

Terminology utilized by traders and investors has a potential to confuse people and prevent them from seeing specifics in how market mechanics unfold. If bitcoin's price dips after a rally, most would call this a "market correction" and interpret it as a sign that bitcoin was overvalued. A dip in price could have many causes. It could also be premature selling from inexperienced traders. Fallout from anxiety over the next big fork. There were many "market corrections" after bitcoin hit an all time high of $2,500 which could give an impression btc was overvalued.

Emphasis on market momentum (https://www.investopedia.com/terms/m/marketmomentum.asp) could be valuable as an indicator. There could be cases where btc dipped in price with a majority of momentum swinging in an upward direction, which could indicate the price would continue in an upward trend.

With equities trading slumps or market corrections are often preceded by dips in fundamental performance. Bitcoin doesn't fit inside this paradigm, its more similar to gold and isn't as prone towards some of the tell tale signs and analysis equities traders would normally expect from a market.

You are exactly correct on your position. The correction is looming , it is necessary and it is likely to cause a huge bullish to altcoin that are not doing well at the moment.

such an nonsense , everyone is happy thats btc is growing the right people makes a lot of money after that the correction it -.- biggest problem in crypto.

It looks like a bubble, so yeah, I'm worried about the price level. Today there was a flash crash where btc fell over 24% in about 4 hours. It rebounded quickly as well, though still off the intraday high by about 10%. The volatility has been crazy, and such dramatic price swings (in either direction) don't provide any confidence that this is sustainable or rational. Watching order book data on gdax in real time, there's no doubt algorithm's are driving trading, and I have to believe they are fine-tuned to profit off volatility and to drive or manufacture that in order to capitalize off it. That doesn't do anything to assuage my concern that the current price level is artificially high, given that it was likely driven to this point by computers, and there will be nothing to sustain it once it begins to fall. Everyone treats bitcoin like its rise is inevitable, and nothing in the real world works that way. That's mania, and a sure sign of a bubble. 

Traders have a good margin still to make profit if we believe bitcoin will reach 25 or 50k, at the end, everyone wants bitcoin that high , especially biggest traders who are on the market since years

It is already anticipated which price corrections would really happen anytime soon but talking on crashing out its price just like what happen on those years wont really happen on this recent year on bitcoin.We would definitely see price correction but not totally dip down going back into lower price like on 5k range but still even we go back into that price it isnt bad after all because we did able to see how much price did bitcoin able to rise up on this year which we should really expect price corrections would happen later on and the important thing is that we should secure out before we would able to be caught on such correction.

I agree that a big correction is about to come, but it is really hard to determine when it is going to happen.
You can never know if the correction is going to be happened when the  bitcoin price will be already more then 15K$, or it's going to be tomorrow or in a hour.

I think that this mega bullish bitcoin market becomes very risky, and people who are not ready to take loses should not be investing at it at all.

This is a normal activity that many anticipate since crypto currencies is now taking the lead in the market a lot of changes and adjustment must be needed. I guess we will expect more correction as long as no stability for cryptos has been set for now. But even though we must not be worried because surely at the end of each correction the result will always be favorable to every one.

What is happening with the entire cryptocurrency is a massive correction. The volatility it found high during the time of price increase and the same thing is taking place at present. Whether it can be used as an opportunity to invest into altcoins or just keep hold of the assets without a switching. Everyone might be in a dilemma thinking of the ongoing situation.

good answer! totally agree. see the correction as a chance to get more bitcoins. when the correction actually gonna take place - no one knows...

No market correction is coming as long as they keep forking Bitcoin will go higher and higher in price and the crypto market will get huger and huger.
Ofcourse it went from 250 billion to 310 billion in a week, bitcoin went from 7.5k to 10k while the amount of it remained the same, that's basic mathematics.
Also crypto market is not like regular market, people keep forgetting this, due to this most people that know real markets keep falling into the same ditch over and over again.
The same way it went from 250 to 310 the next week it could also go from 310 to even 200 billion the next week if the price of Bitcoin would drop when lots of people would try to cash them in dollars. But since more and more forks are being planned and are going to happen, people will keep their Bitcoin to get more and more of this free fork money. So the only way Bitcoin will drop is when they stop forking it, but to keep this charade going they will keep announcing a new fork practicly every other week. Next fork with Bitcoin platinum is coming in december probably by next week.

I don't think it will be huge but as I am writing this 60b has left the market past day or two so what do I know lol. I thought this was going to happen early on because of December, winter, and Christmas. Something about winter coming means slow investment season I think at least for me anyway and I thought the market was gonna get destroyed anyhow. Well it went up first now crashing back down only question how far will it crash?

Well if this huge crypto market correction will really take place, we cannot do about this but to embrace it, but it may never take place right away, it takes time, a very long year.

I think the "true value" of Bitcoin can hardly be determined. McAffe corrected his end of 2020 prediction form $500k to $1M.
I'd rather call it "undiscovered" instead of undervalued. Most people were just not interested in Bitcoin since 2017. Now it's starting to doom on them, what the implications of a trustless money-system could mean.
To sum it up, in the long term I think that old McAffee might not be bunkers after all.

It's true that market correction is coming in crypto market and maybe it's sooner than we think we just always need to be aware and ready to minimize our loss and market correction is not that bad after it we can start again with a much more bigger profit than what we already have. We can have a large and bigger profit just always be careful and play your cards right.

So actually the correction is not coming now, maybe 10k is not enough for the smart money to sell yet,  we may need the 20k before the big crash and death of bitcoin

Well it's here now. And i think people are already expecting a dip that's certain to come. Some were even hoping for it to come sooner so they can buy for the next wave. I don't think a lot of people are concerned about it.

Not possible to happen because crypto is very pendent in the flow of the market. Taking advantage of some people may bring crypto into a lot of changes in the incoming. Price fluctation may somewhat contribute a lot for what will happen in the future.

The problem is that people buying at 25k are doing so only because they have the belief that there will be other people in the future who will buy those coins off them for more. This is why people say bitcoin is a ponzi, it requires ever more people buying at ever higher prices in order for the price not to crash. Fundamentally, I agree with this concept with the added caveat that a ponzi is intentional deception, and bitcoin is not. This is an important distinction, bitcoin operates like a ponzi without the intention of being one.

Bitcoin has been making some corrections for quite some time and if you follow the price movement you will understand that even yesterday Bitcoin make some correction before the current push. However, big corrections is underway and that is when Bitcoin will fight face to face with bankers and politicians who are against crypto currencies development.

Yeah seems the bullish nature of Bitcoin are getting alts out of control, they are growing unnaturally these days are people are anticipating them as 'price recovery' which is not entirely true when most of the projects have no significant value in reflecting their prices, i would rather stay on main projects like Ethereum while getting my profits fast and off in alt's market, the big whales would soon drop their loads of bitcoins when the timing is right, investors are rich and unstoppable these days.

My prediction from experience is that we will not reach $20,000 and instead there will be a major crash before the New Year. It might last until after the New Year... but the latest id January and everyone who got BTC in the past couple months is going to sell it all and there will be massive panic.

Its true that market correction has not undergone for a long period.This is because market situation is entirely different now from previous one.CME has entered the market and CBOE is also to enter soon.These have brought large number of new customers since coinbase got thousands of new customers immediately after CME announcement of issuing bitcoin futures.We might have to wait for some more time for market to get settled.

There is no point worrying as everyone knows it is something that is going to happen anyway. The market is getting a lot of attention right now and it is normal to see some huge adoption based on the upcoming news. There is a huge inflow of cash coming in, so it is normal to see some little dump in the coming weeks. I would not call that a reason to worry and as far as I am concerned, I am still going to keep holding.

That's true, there is nothing we can do that. Instead we just support and keep moving forward because this is the way why bitcoin exist and become popular. I know there nothing to worry about for the coming correction, maybe there is only some adjustment in regards of market capitalization. And I know that, the community will still happy and benefit from the said correction.

From the rapid increasing of bitcoin value, I think there will be corrections that will happen, this is necessary so the sustainability of the market will last long. But I don't think it will be huge decrease, there is no need for us to be worried about this. Bitcoin is a strong community and a lot of people have been patronizing it and this will help for the stability of btc.

Are you kidding? I've been worried ever since Bitcoin set off unfettered past the $4,500 mark! I'm still waking up most days wondering if it'll be the day I login to see Bitcoin back at that price. And when it did threaten to touch 9k, I thought that was really it. But here we are...


Exactly! All the bubble symptoms are there, yes, we're (I am) happy Bitcoin hasn't run out of steam, and it probably won't because every single day, someone is asking me now how to buy Bitcoin, or has told me they've already bought some, and some are preparing to go into it. I'm at a loss really at what to say, suddenly friends are poking me asking why I didn't tell them to jump in earlier. I fear for all of them, but when they're enjoying profits within days and weeks, hard to put a brake on that. Basically, there is a steady stream of new Bitcoin buyers and this is going to up the price for a very long period.

The correction... I can't predict it any longer.

Yeah, the market keeps getting stronger and stronger each and every day and we do not get to see some of the things that we have all been seeing in the crypto market few years back now, most especially in bitcoin and that your point is a good one bro.

Corrections are not getting as huge as they used to except for some of the FUDs created and some attacks just like you said. However, there are so many corrections that have always happened after a bull run in the past and not just the scenarios you have painted, so they are just a normal thing in the market basically too test the strength.

Corrections are actually a natural phenomenon especially in the market and it shows that bitcoin is in a healthy market because of its price correction. That only goes to show that its movement and demand is increasing too. I'm not actually worried about these corrections in fact, I am looking forward to these corrections so I can be prepared.

Well if that is the case than it can happen before the Christmas itself as people will sell and make out the profits which help them to celebrate the Christmas. And once the New year begins then again they will start investing because till than the market would have already crashed and now the cypto currency would be available at more decent price than now ,

Does anyone know when the correction would exactly happen?or it would just surprise us all?

how can anybody predict the future? you can only see a glimpse by technical analysis and take your own chances.
the best time to invest was yesterday and the next best is now imho (ofc concidering the long game)

Hi,

Well, people (I) think that it is indeed worrying.. But it is also how bitcoin works. It is increasing, always and always but still undergoes sharp falls from time to time!

How do you want to "correct" it? Volatility of the bitcoin is indeed a though question.

Corrections are going to become even shorter, in the past a correction in bitcoin could last for several weeks or even months but with the growing enthusiasm towards bitcoin corrections are not lasting that long, this means that we are witnessing a change in bitcoin, fresh money is starting to circulate in all cryptocurrencies and that is why we have seen such a growth in the last months.

The market with its huge hat is increasing but only 30-40% is money from the remaining traders, the whale owners and the developer of the altcoin project to boost its value in the market.

In my thought i know correction is coming but not big correction.
So i am  ot so worry about the market. Correction is normal bit since the marketcap getting higher too it will make the correction also not so deep. Just thought of newbie.

What if the correction already happened when we all experienced the flash crash where btc fell over 24% in about 4 hours. market correction will happened unannounced yes? I think the correction already happened because no one can still explain what happened that day to Bitcoin. It could be a mass dump or it could also be the market correction that everyone is talking about,just my thought.

This is not the first time I’m seeing someone say this kind of thing about Bitcoin price correction. Last time was a well known economists who talked about Bitcoin and said that it’s bubble, and that very soon it will burst and drop to a very low rate. Another time was someone on this forum talking about how Bitcoin was being increased as an effect of the big whales Investing on it.

He said very soon they might withdraw their profit and this may lead to a huge crash that will take place suddenly. But let’s keep watching, if that does happen, I will just see it as an opportunity for buying-in.

Man, I comletely agree with you! You are absolutely right. That growth that we see now is not healthy. It is something outstanding. Unnatural. It is all because of that awful histeria from massmedia. Correction must occur!

Yes, this is not the first time corrections are going to happen and it is not like they are not a normal thing in the market. We cannot just keep expecting a huge bull run to keep going on and on and not see some little bearish trend in the middle of it. As far as I am concerned, if the price drops, I will just see it as a chance to even buy more as that is most definitely going to be some good profit when it starts getting back up.

I think that this is the usual speculation of very large players. Manipulating large sums of money, they raise the cost of bitcoin, and then sell it on top. After that, buy at a low cost. But how to guess when they will start selling?

The signals for BTC adoption and growth have been really strong lately. The fundamentals that economists talk about are only getting stronger. The apprehension that some kind of Mega players are moving the market also seem to be unfounded at the market cap of ~250 Billion.

Only thing that the mega players may possibly be doing is to move the market to accumulate more as well as rake in the profits from day-trading. Its highly unlikely that some particular entities are going to move the price now.

The only entities that are going to be able to control it now are the core developers and Bitcoin billionaires. And why would they ever dump them?
In my opinion, the adage that any entry point is a good entry point remains true for BTC.

The sky rocketing price  of BTC  is the results of billionaires investors to hold much BTC in order pump much as expected my fear if there is a sudden drop of price are they prepared for a panic dumping, because in this scenario now it seems that the price is unbearable that only those big investor can afford
hopefully that in some points the price would go roller coaster ride for us to have a chance to buy in a cheaper price.

You are absolutely right!!! Bitcoin is soon going to be corrected and it may result in a huge crash. Now the question is when will the correction happen and how much it will crash to?? As of now Bitcoin is the new hot guy in the block and everyone is trying to ride on the fame train! But only time will tell what will eventually happen as is usually the case, a lot of people are in it without knowing the pros and cons of the system fully. ::) ::) ::) ??? ??? ??? :P :P :P

Bitcoin might be going back to 12K, I'm waiting around 10k and ready to add more in my portfolio. Can't handle this quick charge to $15k without a considerable pullback. Thus, No one  really knows, when it happens.
 

Correction must happen. The price of bitcoin is high and grows very fast. Only how big it will be the correction probably no one knows.

It is really going to be temporary. Recently when we were climbing up before the $20,000, we had some little correction and that was when I knew a lot of new hands are stepping into the market and it is going to definitely be a huge bull run. Stuffs like these are normal and it has happened several times, the thing is that no one can really predict what can ever happen to bitcoin but for now, correction is certain and it should be expected later on.

In as much there are more adoption of Bitcoin globally there may not be any serious correction in the coming days or months because so many people who are currently holding Bitcoin believe that it has not reach their take profit level at the moment and that makes them to keep on holding while making it difficult for people to get, and as we all know scarcity create value.

This is going to be huge since we have seen an increase of $2,500 in a single day. I am planning to convert to USDT to keep the dollar amount in anticipation of the correction or pull back but I was advised not to turn my BTC to USDT for now. I exit all my alts earlier when BTC hit $13,000 USD but in Twitter you will see comments that $20,000 is the target for BTC this month.

The analysis you describe is a situation where demand increases sharply in a short time. Actually it is not a problem in business role, such as you are investing in commodity or real estate stock, when the stock products you're invest become a trend, many are interested in joining and you gain multiple benefits. Will you be worried later this will going be bad? of course not.
As long as the market is not manipulated then the existing demand shows the real investor interest, so long as the situation is still within safe limits.

A correction is different from a crash, the price suffered a correction and yet it is still above 16k it may go down even more but that was to be expected, I'm not worried, bitcoin could crash to 2000 and I will still be OK with that, those that bought at the top however will be in big trouble if they still held to that point, but I doubt we are going to see such a huge crash.

sure crash and correction are both different because as far as i know crash is a huge price drop for bitcoin (i.e 60 percent) and correction is only just a small decrease (e.g 20 to 30 percent) . bitcoin has been experiencing a short and temporary correction lately and its not verry sever because it only last for just a matter of short time unlike to the past years and months which i say bitcoin really suffered that much and as far as i remeber bitcoin also goes from a huge crash that time and took for about two to three weeks if im not mistaken but then again bitcoin has still recovered and now im not really worried about that because we can still expext that bitcoin will always be fine.

Sometimes markets turn bloody. And that is the time, when you have to buy. Even if the markets are red with your own blood...

Risk takers most of the time take a better profits, those who are ready to take part of the bloody movements are also gaining after the bounce back,
its better to analyze your self because its really hard seeing hard downfall approaching in front of you, always think that its normal inside crypto
industry.

but sometimes when the altcoin market bleeds. it always lasts longer and deeper, and sometimes we do not know when is the right time to take the buy movement. though we still always have a square when the price goes green

There is no doubt after the recent bitcoin price rising so enormous and fast, a correction is expected and will happen, but we don't know when it will happen, and also what is the top price is yet. But the borderline is, from what I experience a thing that goes too fast will not end so well.

There will.be a price correction after this enomous change ng pricing. I'd say it is better to have a good pricing corection then rally for $20k.

yes you are right they are doing price correction and take profit, their price will buy bitcoin back and make new record high price for bitcoin.

When BTC rises, everything invariably goes down in terms of BTC. Even the better alt-coins. So you take the risk by buying one of these and shorting them when they scale back-up.
These cycles will not be there forever and they will soon die down. Make the most of them while they are still there. Only risk what you can afford to lose.

we have seen the price is dropped too far but fortunately, the price can increase back although it is not as the higher price before. this condition is making trader confuse to buy bitcoin or altcoin. we need to be careful of this because the price now cannot predict and it could be another drop in next day. my feeling said that bitcoin price is stable for a while now and it is time for altcoin to increase again.

I don’t really if that will be happening around this time or maybe later, but whenever it does happen, I pray it doesn’t just drop in a minute, but should take hours, and not just hours but days even, so that people won’t make loss. I have seen a lot of people complaining that the price is going out of hands and needs to be controlled. Maybe there will be price correction, this might be another rumour to force people into withdrawing all their money which may lead to a fall creating chance for the new guys to buy-in, well not a bad move though.

What happens with bitcoin and cryptocurrency has been taken into account by everyone, now people prefer trading cryptocurrency and leave the old way of trading forex, I'm sure the future trend of trading is like this.

Bad news is what is lacking at the moment.  It is not just Bitcoin/alt coin markets doing well.  Wall Street has been a bull for nearly a decade with financialists reminding people that bull markets do not last forever.  There have been 12 bull markets since the 1930s. When people feel safe they invest in new things.  Fear will make people invest in more traditional securities.

https://www.usatoday.com/story/money/markets/2017/03/07/bear-market-warning-flags/98695888/

I've had people asking me as well, and I've told them all the same thing. I haven't bought any in years because I've been worried about the price and the mania surrounding it. The mania is everyone's unreasonable expectations. I tell people who ask, I'm not a buyer right now, and probably won't be again, because if the price crashes and reaches a sustainable level and actually becomes useful as a currency, it's no longer an investment asset because all it does is maintain value, not appreciate in value. I don't currently see any circumstances where I am a buyer of Bitcoin again. The only potential opportunity I see now is if a crypto comes along with better tech or innovations and has the potential to displace Bitcoin. That would make it a (speculative) buy.

Honestly this is what I can expect from Bitcoin. The simple theory many peoples are joining Bitcoin because they are watching it as it increases its price rates. Another market will rise even more but the most Unbreakable step it I am worried about us is what is going to happen when Bitcoin mining is going to face another hurdle which can properly make many people lose their trust, we can already see that many transactions are became slower than previous month.

Not all the times on where you would tend to follow up these kind of basis since when bitcoin price tends to go up and alts are most going down I agree on this stuff since ive been seeing these kind of scenarios for years now basing on the history of past experiences on cryptomarket which as a trader or investor its like just gambling where we should decide either we do risk to invest or buy on dips but this is somehow have some basis not purely speculating or guessing. Price corrections are normal and nothing to be shocked off.

the present market cycle is six-month cycle correction happening so if this continues we may see big bear cycle

this seems to have been corrected in price because previously bitcoin prices can touch at a very expensive price and currently prices and bitcoin volume down so that there will be a lot of price correction.

Most of the coin holders in the cryptocurrency market have been surprised by the continuing price cuts in the cryptocurrency market. This makes investors confused and sad to put their funds in the market

Correction is always a positive thing, yes for some people in the moment of going it is not, but be patient for the time. After that everything changed: price, popularity, taxes. These small thing that in general, gives you the picture of situation!

That post was written when the price of bitcoin was at the peak and it happened which we all saw and now there will not be any other bigger correction. The current up and down is the normal fluctuation in the price of bitcoin which will continue for sometime and after some time the price of bitcoin will again start to increase and again we will see another ATH in the price of bitcoin.

You are right that the original post was made when bitcoin price was very high but that also means that the poster's prediction has come to pass too. Also I do not know if this continuous fall is normal or not. It now is scary to me that bitcoin is red this day with nothing major to pull it up. It can still go down if we are still thinking it is correction.

the ongoing market correction is the example of correction we can expect this correction countuine for next 3 months after then we can see price hike

As you said, it was a huge correction of the crypto-currency market. I believe you that this is absolutely normal. I still do not lose hope of price recovery.

I think it is already happening right now as we can see in the market of most of the cryptocurrencies that they are dumped so hard and it seems an endpoint to other people who got bitcoin or other altcoins in their portfolio because they are all in a huge loss and some of them don't want to have a deeper loss so they just sell it and quit.

Good for you that their is no room for losing hope. This is actually normal as the price were have been like this for long. Crypto market will soon realized with more adaptions and more demand that price will recover.

The thread was created in November, and man, that was amazing. Haha! If only this analysis were followed by many, there would be lesser cry babies supposedly.

Obviously, the sheep were too hyped to listen to this analysis.

And here we are. Thus as bear of a market as we could see. Then again, i really think that the bull market will rear its head again by the fourth quarter. I mean with the trend of bitcoin for the past 9 years, we will see that by the late third and although out the fourth quarter we will see green all the way. Who knows,aybe we'll see another freak spike by January next year.

just wait until q4 end we will see bitcoin price back to last year high.and maybe it can break and make new high above $20k , as expert said in much media.

Yeah, here we are with the bear market taking the toil on the market.
Normally, and like you said, bear market cannot simply be forever and there will always be time for the bulls even if it is a short term move upwards. For this year, the correction is still intact and it all depends though on how everyone is simply seeing it. Time to buy more or time to panic and sell, for someone who is wise enough, I believe the former would be more in their mind than the latter.

In hindsight this OP of november 2017 has been quite correct in forecasting the huge correction, even though it had missed to forecast the amazing bull run of December :D

Yes, that is one thing with analysis and there will always be people who will never listen. Normally, it was obvious since there was so many new and inexperienced investors that popped in last year with the idea of getting rich quickly and looking at the way things panned out.

No one in their sane mind should not have known it was just all manipulations and those were not real demand since what everyone was simply after was getting rich. So far, we are where we are, and we just simply have to deal with it.

The author was right, the correction greatly affected the domestic economy, I wonder what will happen next? I personally continue to believe in price recovery.

Dumping has a huge impact on the electronics market. Individuals who are involved in the destruction of the market do not have good results. Because they only think of their individuality without thinking deeply to the community as well as for themselves later. The lesson should respect the high turnover market also do not ruin them because life is so long so do not be greedy.