Bitcoin Forum

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.

It is true that bitcoin is still corrected, and after this obstacle many people believe that even if I bitcoin it will rise up to $ 40000 price even more.

According to wave chart analysis, bitcoin can be reduced to as low as $ 4k5. Thus, the cryptocurrency market will remain volatile. But the $ 4k5 bitcoin will be a big boost to the market especially altcoin because many new investors will enter the market when the bitcoin drops sharply.

I guess we should see everything in a positive way every dip because there will be new investors coming in times like this. If it does go down to $4k, its like the price when I've entered crypto last year because BTC was about $4.5 last September. Hope it won't go down to that rate though as $6k correction in my opinion is good enough.

#1 https://www.investopedia.com/terms/c/correction.asp (https://www.investopedia.com/terms/c/correction.asp)
#2 https://www.thebalance.com/stock-market-correction-3305863 (https://www.thebalance.com/stock-market-correction-3305863)

I don't really think we're going there. But if we do, I'm aiming closer to $3,000 for the wick bottom. $4,000 area for the rounded bottom. Bitcoin loves to make Adam & Eve bottoms (http://thepatternsite.com/aedb.html).

I want to see bears really demolish a bounce on the daily chart (not intraday) before predicting that kind of carnage. We're working on a 7th red candle in a row. Waiting on that bounce....

Even the best analysts can not tell you where the bottom will be.
It's all a guessing game.
There are guys who were right and on point for a certain amount of time and suddenly their forecasts fail.
Don't listen to what others have to say. Maybe they're having a hidden agenda and you would be one of their "victims". Or they just too biased due to being invested to heavy or not being invested. So there is always a reason to call for a certain direction if it could be in your favour.
Better do your own analysis, especially here in the crypto space, which is full of sharks and shady charcters who just try to take your money in any possible way.

4k is not a correction, it's a crash and it's probably not going to happen. Price seems to be fluctuating right now between 8.5k and 9.5k. We'll be back to 12k within the next 10 days unless there's something to cause another fall in investor confidence.

Bad news like banning Bitcoin and such does not have a big impact on the price. Maybe the first news like that had some impact, but not anymore.
Multiple factors needed here. Maybe one more of the Mt. Gox big selling and something to refuse people from buying. 

I think mt gox dumps aren't enough to kill bitcoin fuel. So I still see next stop as $10000 a bitcoin. We will return back to last month. Anyways lightning network is really needed now to fully speculate higher on btc price.

If nobody does a massive sale of the next stage I think $ 4.000 is an impossible pricing. But fortunately it will not happen again because 'Trustee' will.....

There it is. Very nice intraday move:
https://i.imgur.com/xmgOtLu.png

Threatening a local top on the 15min-1h. It's important to keep an open mind here. Bulls aren't in control yet. But if we can secure the $9,400+ level as support and push new highs, then we've trapped a lot of bears. There was heavy selling below there = fuel for a rally.

That’s true, correction should not that big. Btc is pumping again, hope that it will continue and finally break the resistance level. As I can see right now the volume are pretty nice, investors are buying back and we will see the price to pump again.

That's impossible that the price of bitcoin will dump to $4k it might be OK if the price correction is around $7k to $9k.

And I think the reason behind the price drop it's because of panic selling because of FUD.

The bitcoin price correction was done last month.

Much better to focus on buying look at the bitcoin movement today more on buying than selling.

No it won't go further lower than $4,000 or even will reach that price. The correction was done once again and the market is going up again so if bitcoin's price won't go further with $10,000 - $12,000 then we have to expect another correction which everyone should get used to it.
It wasn't and will never be. They are not the only whale in the market but they gave a very huge impact.

I might agree with you on that one but people will tend to panic selling if they read some FUD news and that's what the impact would effect immediately. Since there are people who do a short-term investment and those day traders. If something like Mt. Gox and Binance bad news would appear, it would really deal a big impact.

So far the last floor price we have witnessed in $5K-$6K. And a lot have been saying that we will not go down the deep but bitcoin tested in however it bounce back immediately and we almost went as high as $12K.

So I saying that we can possible hit $4K but the thing is that its a good opportunity to invest bought more bitcoins. So its gonna be just a quick test and then enjoy around good recovery.

But most likely we aren't going on that level. Right now we are green and almost all the top ten altcoin as well. Its just that there are someone dumping bitcoin at this moment (Mt. Gox trustee) causing all this turmoil and putting to much pressure on the price.

I can't imagine bitcoin $4K anytime soon, unless there are really bad news coming that will cause the price to this low. I agree that the Mt. Gox coins has something to do with the recent dump but it looks like we are bouncing back again because investors have realized now that there is no negatives news, although we have the Binance attack, it doesn't contributed to slide we see because they are quick in their actions.

Everything as settled down. And $4K will not be tested but another march to $12K and even higher at the end of the month.

$4k is too much for a price correction and it is not a price correction anymore, it is crashing already if that's happening but it will require some really really bad news. That people will end up panic selling every crypto they have and i already where it is coming but it's not happening yet so the price correction should be between the line of the previous price.

Today's price shows that BTC has started to rebound!

BTC will not crash to $4000 at this stage!

Already too many people wait for BTC price to go down to buy it.

there's a tend always but its not a correction of price if bitcoin fall on that value. Because it looks like another dip from 10k to 4k so obviously its not a normal correction and for sure the exact reason for that price is panic selling or any negative issue. Because actually the correction of price is just a minor drop for example like what happen on this week which is the price  fall back to 8k and after a days the price is increasing gradually .

 Can't predict but it's been stable from $7.5K to $9.5k. Current correction is listing for more than 70 days dropping around $3000k. We had a big correction in 2015 listing for more than 400 days loosing around $7K. But that correction taught the crypto community that after every correction there would be a great hike greater than the loss occurred. So let's hope for a quick recovery soon.

Why? Historically, once a bubble is done, Bitcoin retraces 80-95%. We only retraced ~70%. Going to $4,000 is completely within the realm of normal.


I'm sensing a lot of hope in this thread and elsewhere. Not a good sign. You guys are supposed to be bearish and predicting doom. :-\

To be honest, I expected at least an OTE retrace to $10,400-10,700 or so before bears re-asserted themselves. This is some mega-chop. I'm glad I've been keeping positions small.....

Bitcoin really hasn't been stable between $7,000 and $9,500. Just a week back, the price was close to $12,000. If you compare it with the correction in 2013, this would last a lot longer. If you look at the trends, the price recovers but it takes longer after each correction.

Nobody can precisely give you buttom point but I think it will not go there or even lower than $8k as there is strong support made on those regions after last massive dump. Many who were left behind are willing to jump in so this correction might not last too long...

Many users wanted to buy always at cheap price to start to invest. At this point, I couldnt see that market wil going down to $4000. I cant say it is still a correction once it will drops to $4000, a crash rather. But, it is just temporary that price down now. It will go for sure a highest point this year.

The question is, (number) to be achieved first? because it is not possible to drop to $ 4k and not a good correction in my opinion. For most people, this decline is very healthy, and some of it has been used (downhill) to buy bitcoin a bit more, automatically there will be an increase in the market again.

It's not impossible but I wouldn't say there were signs it was going to drop hugely.  I did think it might a couple of weeks ago go right down to 4K again but instead it went up.   Even for experts it's unpredictable I think at the moment.  The best way to think is that it is unpredictable just now so you have to take that into account when buying or selling. 

I was dam sure ,bitcoin will not reduce to 4000$.Now the price of bitcoin is reduced to 9000$,so you can get into bitcoin trading at low price as like this.Many predictors had predict the price of bitcoin will reach 20,000 by this month end.So you can inverse in bitcoin with low price now.

Well, the correction is still on going and one cannot tell when exactly we will see the end of this correction. But it may not decline further below $6,000.

Due to what is happening at this moment, I think that's possible to happen. But one thing that we should keep in mind is to continue holding if ever this thing will happen. Also, investing would be a necessary thing to do since there is always a chance for the market value of Bitcoin to increase given that crash on the market is just temporary.

At the moment the downward trend dominates. It is really hard to predict when it will end. But it seems that the price drop to 4k $ is unlikely.

OMG! price issues are always a hot conversation. calm down Every cloud has a silver lining. In my opinion the price will not go down that low, I am sure that in June the price will reach $ 20k and most likely, we will soon to the moon if it has reached the point at that number later.

Well, base on past history of previous Bitcoin correction even the one that happen in 2013/2014 i don't believe that the current correction of Bitcoin will decline below $5000. Although i strongly believe that history repeat it self but not to the turn of seeing Bitcoin below the above amount let a lone reaching  $4,000.

Refer coinmarketcap.com. The correction do occure every year. But the time is not known. Its normal with crypto currencies. If you look at the data, we had a huge correction in 2015 losting for more than 400 days loosing more than $5000. Correction always end with huge hike in price. The hike was more than 130 percentage compared to the loss occured in last 400 days plus. Currenct correction and the loss occured due to closing of tradings and exchanges.

The last bottom price if I'm not mistaken is $6K and then it dramatically rose to almost $12K. So that being said, I doubt that we can hit $4K because the price today is hovering around $9K which is way above $4K.

If it hit $4K though, I think it will not hold that long because its another good entry point for all of us. Many have been waiting and wanting to enter the market but since its very expensive for some of us. They keep on waiting for the price to go deep. So $4K will definitely a golden opportunity to buy because of such huge discount price.

The short term charts look like a "scam curve." It's a super choppy whipsaw formation. Obviously a corrective formation, which EW chartists usually assume is a bearish consolidation that will break down because of the higher degree downtrend.

But in my experience, they are usually accumulation patterns that break upwards. Sort of like how BTC often breaks upwards from rising (bearish) wedges.

In any case, 5 days of ranging here means that the next break of range will be meaningful. Time to start paying attention. My gut says that $14,000+ is still on the menu. Lots of liquidity > $12,000 so that's probably where we're going.

It's stabilizing at $9,000 and there's no one can tell if this will be pulled down or pushed up.

http://www.businessinsider.com/bitcoin-price-speculation-mt-gox-bitcoin-wont-be-sold-until-september-2018-3 this news is the hope of many that can pump bitcoin's price soon.

I also read that news and I also hope that this will bring back the investors who have sold bitcoin because they are scared that the trustee will continue to dump the coins pulling the price back even further.

Currently its stabilizing around $9K but as soon as we are closing at $10K, we suddenly seen a rush to sell because they are thinking that it may go down once again.

Let's see that this news is a welcoming one specially who have been waiting for enter the market.

It's not news. It's speculation, and it's pretty illogical. See here:


Notice how the most recent creditor meeting took place in March? Kobayashi was selling in December. Creditors were not notified when the courts approved earlier liquidations.

I'm guessing the trustee is facing a lot of blowback, especially after some of the public comments made by Jesse Powell and others. It's also not clear why the trustee would need to liquidate any more assets, as it sounds like all liabilities are already covered. Those two points are why I don't think he'll be selling more for the foreseeable future.

I think Bitcoin will stable at the moment around $7,000 value. It will keep this value until middle of the year I guess. Many investors keep hold their Bitcoin now and hopefully will rise end of the year.

No, if it happens (I hope we will never see this situation), it will be not any correction at all, but the greatest fall of Bitcoin ever. I suppose BTC had a correction already.

Okay bitcoin has been pulled down after few days and it was a quick one. But let's all hope for the best for this year, there are too many people who are worrying about the price fall of bitcoin but this isn't new and this isn't the first time we've seen it happened. There's still room for it to improve and go back to its trending price before. Am I the only one that misses bitcoin at $20,000?  :-[

I don't think it's a correction, this is due to so many factors like Google wants to ban crypto advertisement from June and some negative news added to that. If there is one negative news obviously another one with positive news float around. Don't panic now and Bitcoin would start it's bullish run probably during mid of April.

I really don't think that bitcoin would be going that low .
If you studied the trends carefully it is showing that whenever bitcoin gets low , it recover some of its value on the same day . Coming as low as $3000 , is the same trend is followed is quite unreal . So bitcoin is not going that down and is going to shine soon.

If bitcoin value will touch $4k then I think we should sell now before it goes down even more or lower than $4k? That was too low for bitcoin price right now.  :'(
I am also thinking that bitcoin will just hit $6k and not lower than that.

bitcoin prices would not be possible for a correction below the $ 5k price because the suport buy bitcoin is very much at the price of $ 6-7k and it would be difficult to make the bitcoin price collapse up to that price.

Bitcoin correction takes place every year. The correction end up with a big hike. Hope this correction ends up very soon.  Recent sells of bitcoin from an exchange has caused this fall.  We could have this correction ending next week. Hope see a good spike in upcoming days. 

While there are always corrections right now the market is not showing the capacity to recover in the short term, bitcoin is barely above 8000 dollars and I see a little bit of green in the market right now but it's not much, I will like for a recovery to start already but it seems every day there is a news about the government trying to regulate bitcoin or saying something negative about it and people are very susceptible now to these kind of comments and as a consequence the price is unable to recover.

for now it's impossible to happen  .'cause as we see the bitcoin price now is gradually increasing at 8k value.  So perhaps 7k is the bottom of this fluctuation and maybe the causes behind of this volatility of price nowadays is from weak hands that always panic selling when there's a dump. therefore this is just a normal correction and it will never go dip for now ,