Last correction before 700+ breakout

[uki]

In a few months bitcoin price never can't break $650 maybe it's the time we must lose a hope to seeing bitcoin price touch $700 in this year.

No need to lose hope, but the point is that the majority of the people here expect too much from the price. Reaching $700 this year is a realistic possibility as there are more than 2 months to go before this year ends. But hoping for prices higher than $700 is more like wishful thinking. I think $700-$720 will be the peak that we will see in the remaining time of this year, and after that it will settle below $700.

I agree with 1Referee. There is no need to cry that the price isn't pumping again. Bitcoin is all about waiting and that is much harder than initially seems. That is one thing. The other thing is that we currently don't have much fundamentals to support a bigger rise. That means that the only option is a pump based rise, and this is almost impossible to predict when it can start. You will only know that once the things are going.

[Denker]

In a few months bitcoin price never can't break $650 maybe it's the time we must lose a hope to seeing bitcoin price touch $700 in this year.

No need to lose hope, but the point is that the majority of the people here expect too much from the price. Reaching $700 this year is a realistic possibility as there are more than 2 months to go before this year ends. But hoping for prices higher than $700 is more like wishful thinking. I think $700-$720 will be the peak that we will see in the remaining time of this year, and after that it will settle below $700.

Of course there should be hope for rise of the price. the two remaining months are months characterized with lots of purchases. So, many people will be buying lots of bitcoin for purchases which will increase the demand and consequently the price that everyone here is hoping to see. I think what i said is making sense, right ?

All bitcoin users are  hoping for the price increase of  bitcoin because as we all know that we would really benefited on that event  that would happen  but  we cant still make sure that  it would reach price  point because  adoption is  the main reason. If  adoption would arises then  for sure  price would  move  up.

little over 700 will be price maybe I'm wrong on this but to much pressure is on 650 price if this can be breakerI will say that 750 will be next one
But still it 2 long months till end of this year

Over a long time users were expecting to experience the break out of bitcoin price over $700. Now in the ongoing fluctuations we can see the price to be around $650 in a short time. Possibly to experience $700, we need to wait with patience till the year end.

I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!

[uki]

I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!

And that is yet another good point. If things taken in proper perspective, 2016 has been a great year so far.
Great growth and with price now around $600-650, people who had enough patience got quite a chunky gain.
It is all about how realistic price expectations you may have. I know that many were expecting moon or beyond, just because of the halving.
They put their 0.1BTC hoping it will grow 10 or 20 fold, just like that. Well, that is not that easy, and I hope that was a good lesson for them how difficult it is to even double the price from where we are now.

[maku]

there are some potential news on the way in the very near future that can change the way market is to kick start the new breakout to above $700.
and in my opinion the two most important (most hyped) events are the US president and also obviously the block size debate.

Only blocksize debate matters, albeit not as much as you might think.
US presidential election is insignificant event - bitcoin or regulating cryptocurrency in general is not priority for both Clinton or Trump.
People were saying that in case of Brexit bitcoin price will skyrocket, it didn't happen.

[BitcoinHodler]

there are some potential news on the way in the very near future that can change the way market is to kick start the new breakout to above $700.
and in my opinion the two most important (most hyped) events are the US president and also obviously the block size debate.

Only blocksize debate matters, albeit not as much as you might think.
US presidential election is insignificant event - bitcoin or regulating cryptocurrency in general is not priority for both Clinton or Trump.
People were saying that in case of Brexit bitcoin price will skyrocket, it didn't happen.

if you ask me, none of these things matter at all but the reality is different and they will surely affect price in sometimes unexpected sizes.

because if you think about it, the only thing that should affect the price is supply and demand and the demand should only change based on adoption. and since adoption is not changing suddenly the rise should be slow.

now have this even changed anything? no. mostly hype have been affecting the price like the $120 drop because of the bitfinex hack.

[bitebits]

I think this price correction already got its buttom yesterday at around $625 so i am tightening my belts for another big pump.  

I hope so, the whole forum is very quiet lately, I hope that isn't a reflection of things to come with regards to price etc. There just doesn't seem to be much excitement around at the moment.

Are people losing interest?

In the wall observer tread, that historically has been a bullish indicator (counting Chartbuddy's in a row).
Now imagine that rule can be extended to the whole forum turning quiet.

[bitebits]

Price this year been quite fluctuating due to bitfinex hack lossing thousands of bitcoin however it is nice to see price is moving towards before hack time price already and if $700 is crossed in next pump we will be again before bitfinex hack price range.   $700 is comming...

Don't worry, Bitfinex is gently asking the supposed hacker to return the bitcoins. /s

If they do get 'returned' we can be sure it actually is an inside job.

[jondeen707]

In a few months bitcoin price never can't break $650 maybe it's the time we must lose a hope to seeing bitcoin price touch $700 in this year.

No need to lose hope, but the point is that the majority of the people here expect too much from the price. Reaching $700 this year is a realistic possibility as there are more than 2 months to go before this year ends. But hoping for prices higher than $700 is more like wishful thinking. I think $700-$720 will be the peak that we will see in the remaining time of this year, and after that it will settle below $700.

Yes, $700 by the end of the year is realistic, yet I agree that it may as well not happen, but that's not too much of a deal anyway.

[pitham1]

Price this year been quite fluctuating due to bitfinex hack lossing thousands of bitcoin however it is nice to see price is moving towards before hack time price already and if $700 is crossed in next pump we will be again before bitfinex hack price range.   $700 is comming...

Don't worry, Bitfinex is gently asking the supposed hacker to return the bitcoins. /s

If they do get 'returned' we can be sure it actually is an inside job.

Bitfinex is being investigated by multiple agencies. Their strategy of giving tokens has not worked.
They have to return the bitcoins stolen, or be hauled up by the authorities.

[cpfreeplz]

We're definitely seeing a good increase now I'm assuming we'll be breaking $700 within two weeks (but we'll see if any damn exchanges get hacked lol).

[bamboylee]

I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!

And that is yet another good point. If things taken in proper perspective, 2016 has been a great year so far.
Great growth and with price now around $600-650, people who had enough patience got quite a chunky gain.
It is all about how realistic price expectations you may have. I know that many were expecting moon or beyond, just because of the halving.
They put their 0.1BTC hoping it will grow 10 or 20 fold, just like that. Well, that is not that easy, and I hope that was a good lesson for them how difficult it is to even double the price from where we are now.

Those who got started with bitcoin last year, like me, is very satisfied with the growth of bitcoin this year. We even hit 800 at one point.  Maybe those who started this year are the impatient ones. This long correction phase bores them. I think this is about to end and the price will start to pump as the holidays are fast approaching.

[Ayers]

We're definitely seeing a good increase now I'm assuming we'll be breaking $700 within two weeks (but we'll see if any damn exchanges get hacked lol).

i really think that you need a solid pump to have a new floor, with these slow motion, the market is not going anywhere, at the first dump we are again at the beginning of this, what i want to say is that i'm not really sure this last increasy is very stable, i've seen this already, it will usually return at the previous point

[outatime1]

It looks like you may be on to something. Then increase today has been about 5% so far. I think we could see the price hit $700 soon. Although it wouldn't surprise me if we saw another correction before then.

[Zadicar]

We're definitely seeing a good increase now I'm assuming we'll be breaking $700 within two weeks (but we'll see if any damn exchanges get hacked lol).

i really think that you need a solid pump to have a new floor, with these slow motion, the market is not going anywhere, at the first dump we are again at the beginning of this, what i want to say is that i'm not really sure this last increasy is very stable, i've seen this already, it will usually return at the previous point

These  price increase are  just  normal though hence bitcoins price is  moving  on  any way and as you mentioned  we saw this  kind of  movements  that  like they are  just  hyping  up and suddenly goes  back   to  its previous  price which  is  no  surprise  anymore for me.

[uki]

there are some potential news on the way in the very near future that can change the way market is to kick start the new breakout to above $700.
and in my opinion the two most important (most hyped) events are the US president and also obviously the block size debate.

Only blocksize debate matters, albeit not as much as you might think.
US presidential election is insignificant event - bitcoin or regulating cryptocurrency in general is not priority for both Clinton or Trump.
People were saying that in case of Brexit bitcoin price will skyrocket, it didn't happen.

Blocksize debate has been used as a potential key factor for about 18 months already. Actually it is a non-argument as long as there is nothing coming out of these talks, as in the last year or so.

[uki]

I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!

And that is yet another good point. If things taken in proper perspective, 2016 has been a great year so far.
Great growth and with price now around $600-650, people who had enough patience got quite a chunky gain.
It is all about how realistic price expectations you may have. I know that many were expecting moon or beyond, just because of the halving.
They put their 0.1BTC hoping it will grow 10 or 20 fold, just like that. Well, that is not that easy, and I hope that was a good lesson for them how difficult it is to even double the price from where we are now.

Those who got started with bitcoin last year, like me, is very satisfied with the growth of bitcoin this year. We even hit 800 at one point.  Maybe those who started this year are the impatient ones. This long correction phase bores them. I think this is about to end and the price will start to pump as the holidays are fast approaching.

That is right. The newcomers are usually impatient, nothing new about it. It usually take them until the first bigger loss that helps them put the things in a proper perspective.
Things take time even in Bitcoin and one has to learn to live with that and trade it to his/her advantage.

[Snorek]

So correction of price is over now and advancing moves are happening? The price was as high as $675, but dropped a little now.
Question: do we wait for more gains, hoping that bearish trend will continue or it is a good time to sell some BTC?

[jondeen707]

Price this year been quite fluctuating due to bitfinex hack lossing thousands of bitcoin however it is nice to see price is moving towards before hack time price already and if $700 is crossed in next pump we will be again before bitfinex hack price range.   $700 is comming...

Don't worry, Bitfinex is gently asking the supposed hacker to return the bitcoins. /s

If they do get 'returned' we can be sure it actually is an inside job.

Yes, all that looks very fishy, especially given that we all are kept in the dark on the investigation.

[azguard]

So correction of price is over now and advancing moves are happening? The price was as high as $675, but dropped a little now.
Question: do we wait for more gains, hoping that bearish trend will continue or it is a good time to sell some BTC?

we all hope for this but im still little skeptic about it think that this 700 is really hard barrier to brake but if somehow we manage to do it dont know and can predict what will be price for bitcoin after that
and i have high hopes just for steady rise in price sudden bigger jump wont do any good cuz after that sudden drop comes out

[uki]

So correction of price is over now and advancing moves are happening? The price was as high as $675, but dropped a little now.
Question: do we wait for more gains, hoping that bearish trend will continue or it is a good time to sell some BTC?

we all hope for this but im still little skeptic about it think that this 700 is really hard barrier to brake but if somehow we manage to do it dont know and can predict what will be price for bitcoin after that
and i have high hopes just for steady rise in price sudden bigger jump wont do any good cuz after that sudden drop comes out

I agree. I don't expect any sudden long jump up at the moment. It is more about making small steps forward. And at the moment the first obstacle is the $650 level. Let's make it first, and stay above for some time. Then we can think of $700. And I agree it won't be easy to make it.