700$ - Support became resistance

[tunctioncloud]

I'm really surprised. The price is rising again, after I thought that it was definitely finished when we passed below 700$ yesterday.

[Febo]

620$ seems like the bottom but the bottom could break at any time.
However there could be a nice high of 800$. This should be the rough estimate through to the end of this year.
Just my predictions and speculations.

Price went to $620?

If that is true, then somoen got nice deal. I think this year price will not come close to $600 anymore. Unless something unpredictable happens.

[Wind_FURY]

It looks scary.  Please vote.

Why would it look scary? This is the time to hold and buckle your seatbelts because we are in for some volatility and a rocket ride up to what might be towards to $1000 again. I have to admit I closed my bids on $550 and had to buy more Bitcoins at a higher price when I saw how the price was behaving.

[romero121]

It looks good to see a price increase before the last month of the year, as most of the users expected for a increase by the days close to the last of December. This is just due to its nature the price increased and decreased to some extent which has once again started to rise to reach $750 within a short term.

[springgers]

Yoyo $10-20 until we hit around $750.
I'm not sure if we will reach $800, but I'm fairly certain this will be the last time to get Bitcoin close to $700 for a while.

I really don't think the price will reach $800 too and if reach for sure will be for few days and will go back to the "normality", China buying and the rest of the world selling, simple math.

[mixan]

It has had a major drop from $750 this morning to $715 now.
What happened all the sudden for this massive drop in price

[amacar2]

It has had a major drop from $750 this morning to $715 now.
What happened all the sudden for this massive drop in price

Actually price is even dropping more to hell, currently at 695$. 
Haven't expected correction will be this huge, hope price may not get again back to $650 level.

[1Referee]

It has had a major drop from $750 this morning to $715 now.
What happened all the sudden for this massive drop in price

It's funny that when the price goes up quite a bit, that people look at it from a point that it's nice, or okay, but when the price starts heading down, then there is all panic. Stop that.

Actually price is even dropping more to hell, currently at 695$. 
Haven't expected correction will be this huge, hope price may not get again back to $650 level.

Why does this come as such a surprise for you? If the price can go up significantly in quite a short time, then the price can also move in the opposite direction significantly in a short time. With the current wave of panic sellers, it may in fact come very close to the $650 level that you for some reason don't hope to see. Is that the price where you bought your coins at?

[harizen]

It has had a major drop from $750 this morning to $715 now.
What happened all the sudden for this massive drop in price

It's always happen even in the past so nothing new. Once there is a sudden price increase expect a sudden price decrease thereafter so you can't blame those profit takers. What we need to wait is, in what range it will established a good support or a so called correction price. The recent drop is good so that we can test how strong bitcoin price will sit on a certain range after a price decrease.

Hopefully resistance around $700 will be the same as what the resistance build around $600. Who knows $600 might be the bottom now.

[springgers]

It has had a major drop from $750 this morning to $715 now.
What happened all the sudden for this massive drop in price

It's funny that when the price goes up quite a bit, that people look at it from a point that it's nice, or okay, but when the price starts heading down, then there is all panic. Stop that.

Actually price is even dropping more to hell, currently at 695$. 
Haven't expected correction will be this huge, hope price may not get again back to $650 level.

Why does this come as such a surprise for you? If the price can go up significantly in quite a short time, then the price can also move in the opposite direction significantly in a short time. With the current wave of panic sellers, it may in fact come very close to the $650 level that you for some reason don't hope to see. Is that the price where you bought your coins at?

For sure that will happen, when price goes up, a lot of people have interest to sell it and at the same time when the price goes down, a lot of people have interest to buy, that's simple and that's why I don't expect big ups/downs... Bitcoin don't will reach 800 this year.