[2018-08-22] Crypto Bloodbath: Bitcoin Back to $3,950

[iamTom123]

Crypto Bloodbath: Bitcoin Back to $3,950 After Dipping Below $3,800

Since achieving a new all-time high above $4,500, bitcoin price has recorded four minor corrections. Earlier today, on August 22, bitcoin price fell to $3,800 as the market and investors started to fear for a sell-off prior to the scheduled November SegWit2x hard fork supported by a few major companies including BitPay.

In July, when bitcoin price experienced a minor correction and dropped by around $300, analysts attributed the decline in the value of bitcoin to the imminence of the August 1 Bitcoin Cash (BCH) hard fork. At the time, ViaBTC and Bitmain hinted the possibility of the BCH hard fork and the market immediately reacted to the announcement of Bitmain with a panic sell-off.

However, Andreas Antonopoulos, highly respected bitcoin and security expert, reassured the community that the BCH hard fork announcement was only one of many factors that led to the correction. He explained amidst rapid surge in value, bitcoin and the market have to correct in order to demonstrate more organic and natural growth.

The Source Here.

As I am writing this, the value of Bitcoin in Coinmarketcap.com is exactly $3,991.94 ad there is a big possibility that Bitcoin is already on the rise again...after dipping into the $3,800 territory. As stated by the quote above, this is just another normal occurrence for Bitcoin and this is actually helping Bitcoin avoid big bubbles. Corrections are functioning like buffer zones for Bitcoin ensuring that predictions of market bubbles will not happen.

I am sure that there are many who are right now taking advantage of the market fluctuation as it is cheaper to buy Bitcoin compared to last week's price. People who got the capital should exploit a correction as it mean a good entry into Bitcoin.

[buwaytress]

Indeed, with these corrections few and far between, and lasting hardly a few hours, there really isn't a better time for latecomers to buy. I wouldn't have been surprised if the correction didn't happen, but it's no shock that it has. Bitcoin's beginning to show consistent patterns of having major events already priced in weeks before the actual.

Another rise to 4,500 at current price is not only imminent, but pretty much certain given that November is still more than two full months away. That's at least 15% profit even if you set your set your buys now at sell orders of the previous ATH.

Not quite a bloodbath, though!

[veleten]

if thats a bloodbath,then I don't even know....
a small correction,the price dipped to 3600$ for a short time,only to go bac kto 4000-4100
10-20% is normal for bitcoin these days,nothing extraordinary
not as Goldman Sachs predicted :1800$ sharp vertical dive,hope their analysis is not correct this time

[iamTom123]

if that's a bloodbath,then I don't even know....a small correction,the price dipped to 3600$ for a short time,only to go back to 4000-4100
10-20% is normal for bitcoin these days,nothing extraordinary not as Goldman Sachs predicted :1800$ sharp vertical dive, hope their analysis is not correct this time

I don't think Goldman Sachs people are really good in predicting the movement of Bitcoin. They are into the Bitcoin game late and they pretend that they already know everything about cryptocurrency as they tried to be an influential voice in the market. We don't have to listen to them because they are just capitalizing on the eyeballs they can get to boost their standing in the cryptocurrency market. We already have so many pretenders around and yet this firm wants to be added to the growing list.

[btc_angela]

if that's a bloodbath,then I don't even know....a small correction,the price dipped to 3600$ for a short time,only to go back to 4000-4100
10-20% is normal for bitcoin these days,nothing extraordinary not as Goldman Sachs predicted :1800$ sharp vertical dive, hope their analysis is not correct this time

I don't think Goldman Sachs people are really good in predicting the movement of Bitcoin. They are into the Bitcoin game late and they pretend that they already know everything about cryptocurrency as they tried to be an influential voice in the market. We don't have to listen to them because they are just capitalizing on the eyeballs they can get to boost their standing in the cryptocurrency market. We already have so many pretenders around and yet this firm wants to be added to the growing list.

What do you expect from them? They are banks, of course they wouldn't said anything good about bitcoin. It has recovered since, and now the price is above $4100. It was a very quick slip, although it took days before finally recovering. New investors come in while others buy back bitcoin in this dip. So overall its a healthy dip.

The next time I see some expert from Goldman Sachs predicting again, I would take it with a bag of salt. Those guys have nothing really to say good about bitcoin but price diving, but bitcoin has proven otherwise.

[Karartma1]

I see it back at $4154: am I missing something?
The press also needs to eat at the bitcoin plate so they must find ways to write these bullshit to please their readers.

Talking Goldman S at least they influenced the price in an upward trend.

[BitHodler]

That's quite an exaggeration. Did we suddenly forget that the market experienced more 10% price swings in the last months?

The only difference is that when the price hovers around the $2000 mark, that 10% translates into a $200 price swing. Currently at the $4000 mark, it translates into a $400 price swing.

It looks worse, while in reality it's just the same. I personally thought that the correction would be initiated properly, but it did bounce back ~ I still think the correction will kick in.

[hatshepsut93]

I see it back at $4154: am I missing something?
The press also needs to eat at the bitcoin plate so they must find ways to write these bullshit to please their readers.

Talking Goldman S at least they influenced the price in an upward trend.

When the price drops, journalists are very quick to spread the news and use loud titles like "bloodbath" or "crash". As of now, the price is $4,250, yet no major Bitcoin news site wrote anything about this rebound. Sometimes it's just feels like they are deliberately fudding? People remember drops much better than surges, because loss always hurts more than profit, and it seems like crypto journalists are trying to use this effect.

[buwaytress]

if that's a bloodbath,then I don't even know....a small correction,the price dipped to 3600$ for a short time,only to go back to 4000-4100
10-20% is normal for bitcoin these days,nothing extraordinary not as Goldman Sachs predicted :1800$ sharp vertical dive, hope their analysis is not correct this time

I don't think Goldman Sachs people are really good in predicting the movement of Bitcoin. They are into the Bitcoin game late and they pretend that they already know everything about cryptocurrency as they tried to be an influential voice in the market. We don't have to listen to them because they are just capitalizing on the eyeballs they can get to boost their standing in the cryptocurrency market. We already have so many pretenders around and yet this firm wants to be added to the growing list.

Honestly, I didn't think so myself and I can look at my post history in here commenting on Sach's very first Bitcoin forecast. Can't recall the exact numbers but they took out a bold prediction more or less against most of the analysis. Hit it spot on and then repeated the accuracy with their second and third (less-bold) signals. If it's really true they're looking at a $1,800 vertical drive now, I must say their early success has made them more brazen. That would have been a bloodbath!

Still early days, but they've proven themselves at least as good as crypto experts. Made me swallow my words earlier, anyway!

[ismart1]

I agree with the fact that correction is healthy for the market, otherwise, a bubble would definitely become a real danger. But the overall trend is upward, due to many factors, mainly the wave of new investors coming to the market, the awareness of crypto market for many different people who are not familiar with it yet and the scarcity of the asset. That being said, a lot of idiots, especially media and banks they are desperate to sound like experts to fools everywhere and to sound as the true source of knowledge based in the markets they know and control, but when comes to the crypto world, they can´t control it, they are just another player. 

[BitcoinGirl.Club]

Dips, corrections all these are normal when it comes to bitcoin and people should not fall prey for such and panic.
Things looking great for bitcoin at the moment, the $3950 was a temporary setback and bitcoin is now over $4150 and my guess is while others started to panic sell with all speculations of miners changing their interest for bitcoin cash as a result of available low mining difficulty, smart buyers were able to take advantage to buy cheap coins.