A lovely good morning Bitcoinland.

Looks like recovery from the PBoC over-reaction/panic is just about complete... currently $4610USD/$5720CAD (Bitcoinaverage).

That's about where we were after the natural healthy correction after hitting $5k.

Almost all cryptocurrencies are also up with AltcoinCash up to $635USD/$787CAD (Coinmarketcap).

It's a good sign for all of us who continued to hold after the fork.

Now we can start looking toward a series of new ATHs.

Go Bitcoin go.

 

Good morning Bitcoinland.

Seems like the PBoC-induced panic has subsided and pretty much all cryptos are on the rise again. Even Bitcoin which fell less than the alts has risen modestly... currently $4365USD/$5400CAD (Bitcoinaverage).

Altcoincash has stabilized at $552USD/$660CAD after taking a beating yesterday.

While we're not quite back to where we were after the post-$5k correction (about $4.5k) we seem to be well on our way.

At least we didn't go below $4k. If you believe in TA it would seem the double bottom just above $4k has established a new base of support.

Now it's time to start the rise to a new ATH and pass $5k on all exchanges.

Except not as deep. Late May was a 33% dip. This was only 20%.

Recovery in May took 10 days from bottom to a new ATH. Let's see how long this takes.

China didn't cause a market-wide dip.

Stupidity, over-reaction and panic did.

You gave him far too high a grade.

Only a fool would sell now.

The first $500 dip on Sept 2 was a natural correction after a month-long rally.

The second $500 dip on Sept 4 was directly caused by the PBoC announcement and ensuing panic.

Today's continuing dip started when China woke up and drove the price considerably lower than at the western exchanges.

Many people inexperienced in Bitcoin's history have talked themselves into thinking that the price will fall to unreasonably low levels.

It remains to be seen if it will drop as far as the 33% it dipped from May 25-27. The current dip is basically the same as the 20% dip that occurred between Aug 16-21. No big deal.


The price didn't drop by almost $1k in one day. It took 3 days. The correction was pretty much finished by the time the PBoC made their announcement and weaklings panicked.

China's ban on Chinese companies running ICO scams has nothing to do with Bitcoin. Bitcoin is an honest 100% mined cryptocurrency, not a pre-mined ICO scamcoin.

China is only trying to protect its citizenry from the kind of sleazy companies that use ICOs to rip off the gullible with pre-mined coins.

Fun, isn't it? 

Starting?  

Again I agree with you. You'll notice also that these are the times when trolling and FUD reach fever intensity.

Luckily those with experience see right through it. It's the traders and noobs who get sucked in.

Indeed.

Also consider last January's crash caused by the PBoC's investigation of the Chinese Exchanges and the ensuing panic. How did that play out in 2017?

Smart people recognized it as an excellent buying opportunity and profited greatly. Fools panicked and suffered.

Oct 2013 and Jan 2017 were watershed moments. Sept 2017 could be too.

I think your sarcasm meter needs repair.

Ted E Bare is hardly a bear and BobLawBlaw is an early adopter, (former?) miner and longtime holder.

Neither thinks crypto is dead.

They're just having fun with Abercrombie's standing meme.
_____

Or is my sarcasm meter broken?  

Good morning Bitcoinland.

I see the price has dipped further after my little shopping trip in the middle of the night... currently $4260USD/$5290CAD (Bitcoinaverage).

I think I'll wait a little longer to see if it goes even deeper before buying more. The panic following the PBoC announcement probably isn't done yet.

Meanwhile, along with all the scam/ICOcoins and other altcoins, Altcoin cash has taken a real beating... $515USD/$640CAD (Coinmarketcap)


Exactly my read on the situation.

The PBoC has identified ICOs far what they are, ripoff scams.

I had the chance back in January 2014 to get in on the original Ethereum ICO after hearing Vitalik Buterin speak at Decentral but declined to participate because the whole concept of pre-mined coins seemed sleazy to me. Sure, I could have made a lot of money from ETH but it would have meant compromising my ethics.

Bitcoin is holding up quite nicely during this shitshow. Its losses are half of those of the scamcoins.

Wow. I lucked out again.

Got up to urinate, saw the price below $4350, threw on clothes (no socks), ran to the local ATM, bought with a 1.7% fee, and came home to see the price had risen by more than $100.

Almost missed the dip. Barely made it in time.

Back to bed, see you all in the morning (crack of noon).

Good AM Bitcoinland.

Wow. Did it again. Woke up just in time to see the price go sub-$4.4kUSD, threw on clothes, ran over and bought the bottom (so far) at a 1.9% buy fee. Unfortunately I forgot to check to see how much cash I was carrying and found I only had $200 with me. Of course I spent it.

By the time I got home to get more dollars, the fee had risen to 2.3% (now it's up to 4%) and the price had risen as well... currently $4490USD/$5566CAD (Bitcoinaverage). Snooze you lose.

I'll keep an eye open for another dip to buy. This correction might go a wee bit deeper yet. In the meantime, every new egg in the nest is welcome.

Meanwhile AltcoinCash is hanging in there at $580USD/$720CAD.


I never tire of buying the dips.  Also at my age, I need all the exercise I can get.

I took profit this morning by buying more Bitcoin.

yep

Buy the dips and hold.

Good morning Bitcoinland.

Just having my first coffee after running over to buy the dip I missed last night.

After last night's ATH capping an incredible month-long rally, we were overdue for a real correction and we got a real doozy... currently $4545USD/$5635CAD (Bitcoinaverage).

Even Altcoincash took a beating... $570USD/$707CAD (Coinmarketcap).

Still waiting to see if it goes even lower or heads up from here.
_______

I noticed long ago that the peaks usually hit $xx80. Remember NLC's Wile E. Coyote gifs? The ledge was always $480, $380, $280. Even she saw the pattern.


Almost. Woke up, saw sub-$4.5kUSD threw on my clothes and ran over. Spent about half of my pocket cash and got home to find it had already bounced back up.


I wish. I had to pay an exorbitant 6.8% buy fee but at least I seem to have caught the bottom (for now). Just a few hundred bucks worth but everything helps.

If it goes back down below $4.45k I'll do it again.

Unfortunately, it might have caused me to miss buying under $4.6kUSD.

I wasn't about to jump up from a lovely moose roast dinner with a dear friend to take advantage of a borderline buying opportunity, although she did say I should run if I wanted to. "Go shopping" was her expression.

Now that the price is already up over $4.7k, I think I'll just follow her to bed.