Bitcoin Forum

Hi,

Due to the recent hike after the fork – do you think bitcoin will hit a correction?

JH

Bitcoin is bound to have a correction at some point, if you look at some of the charts right now about the Bitcoin price you'd see that it FUCKING SKYROCKETED from about 5500-over 7000 at a certain point. If that doesn't look insane to you, I don't know what will. Bitcoin wasen't thought of to ever go this high, and at some point the traders will stop drinking the Kool-Aid and the price will drop insanely drastically.

You can even hold me to saying that.

I think there will be a correction after the fork and money comes back flooding into altcoins. Because alts have been down for a very long time now.

With all the bitcoin forks we will probably see even more in the future, because they are so profitable.

many think btc now is overbought and correction could be 5-6k. If this happened, it will result two things:

1. if people cash out via fiat, the altcoin price will go with btc to hell, correction could be 10-30%;
2. if people are buying altcoin by btc, then we will see altcoin mooning and btc go mild correction then recover in 2-3 days just like the btc gold fork.

We dont know when the correction will happen.

The btc price is unpredictable and it might go straight to 8000k before plunging down.

All we need to do now is observe the price.

I believe that correction will happen after fork. People prepared for Bitcoin Gold and then Segwit2x forks and changed their altcoins into BTC. This is why price of mostly altcoins decreased so much. After Segwit2x will happen, people will back into altcoins. It will result a bitcoin correction and increase price of altcoins. But still, few weeks until fork left and we can expect that Bitcoin will continue to rise and maybe will hit $8000.

do you really... REALLY thinks anyone knows ?