Its not as bad as it looks

[rfisher1968]

I went to https://bitcoinwisdom.com/markets/bitfinex/btcusd and looked at the chart for the 1w time interval and this drop looks like a healthy pullback. What do you think?

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[1982dre]

I went to https://bitcoinwisdom.com/markets/bitfinex/btcusd and looked at the chart for the 1w time interval and this drop looks like a healthy pullback. What do you think?

Well a correction was expected i guess. I raised way to fast and now it's being slowed down. Its still a lot up compared with last month. Just let it be a rollercoaster for a few days and after that it will be climbing slightly.

[Paashaas]

1 ore 2 red candles in the mix is healthy, it's ok.

[1Referee]

It's very simple, the price went up in a pace that everyone with at least some level of market understanding could see that it wouldn't last. I am very happy that we're experiencing this correction right now. It means large players have done their best to cash out as many profits as possible, where we will soon enter the buy back phase. It's however not certain yet that we have seen the bottom already. I just hope the $800 level will hold, but I wouldn't put my money on it. Always make sure you have money left so you can buy in case the price does happen to dive below $800.

[doublemore]

It's just strange that not all exchanges are at the same price yet. They are off quite a bit. One says $890 another says $880 and yobit had it at $986 but since yesterday I could not even get to that site anymore.

[talks_cheep]

It's just strange that not all exchanges are at the same price yet. They are off quite a bit. One says $890 another says $880 and yobit had it at $986 but since yesterday I could not even get to that site anymore.

$10-20 difference between exchanges is normal in bitcoin. Most bitcoin exchanges are manipulated by whales who own 99% of the coins. It's one of the major reasons why bitcoin will never rise beyond $1000 level. Those of you dreaming $1million bitcoin rudely realized what a pipe dream it was. Greed leads to self-destruction. Go and work hard at your jobs, make money the right way. Bitcoin is for scammers, drug dealers, child pron pervs and other low lifers.

[Tanic]

It's just strange that not all exchanges are at the same price yet. They are off quite a bit. One says $890 another says $880 and yobit had it at $986 but since yesterday I could not even get to that site anymore.

To your nerves would be better to not check the price to bitcoin so oftenly. believe me. I am checking the price only when I have plans to cash out my coins.

[ridery99]

It's very healthy to believe in. I believe we will 2k after some problems then 10k moon is inevitable

[BTCLovingDude]

I went to https://bitcoinwisdom.com/markets/bitfinex/btcusd and looked at the chart for the 1w time interval and this drop looks like a healthy pullback. What do you think?

i totally agree with this and also i say as long as you are zooming out of the chart and looking at the price change for a much longer period than just a couple of weeks (one way is choosing 1w interval) you get a better feeling about what is happening with bitcoin price.

It's just strange that not all exchanges are at the same price yet. They are off quite a bit. One says $890 another says $880 and yobit had it at $986 but since yesterday I could not even get to that site anymore.

having a couple of bucks difference is normal between top exchanges and also it is normal to see a huge difference between the top exchanges and those bad exchanges like yobit who nobody trades at. it is because they don't have any volume so the price never changes.

[pitham1]

I went to https://bitcoinwisdom.com/markets/bitfinex/btcusd and looked at the chart for the 1w time interval and this drop looks like a healthy pullback. What do you think?

Yes, it is a healthy pull back. I would have worried if the rally continued.
If we get into bubble territory and then people burn their fingers, they will blame Bitcoin.

[BitcoinBarrel]

This pullback won't last long. You have people cashing out their small profits (buying at $400 and selling at $1k), thinking that the Peak has been reached. The bear trap before the big money should be expected. Why do you think the media has remained mostly silent on this rally? They are afraid of the new heights that will be reached.

[DefendKebab]

[BrewMaster]

so far what i see is a volatile price which is the dream of day traders and lots of profit to be made because of this volatility. price is going up and down more than $50 a day and about $100+ the first day.

and in all this chaos price can not remain in $800-900 range which is a good sign.

[btcmerich]

hahahahahahahahahahhaha . made my day

[Tanic]

It's just strange that not all exchanges are at the same price yet. They are off quite a bit. One says $890 another says $880 and yobit had it at $986 but since yesterday I could not even get to that site anymore.

Do you talk about YoBit when you say that you will not go to that site anymore? YoBit is a good site for my taste. They always have the highest prices for bitcoin that give me to cash out my coins with the highest profit.

[monbux]

lol and going to sleep has been just me thinking about the bitcoin price...  Woke up and saw that it crashed $200, then next day saw it crash another $70.  Sucks to be in the opposite time zone of China.

[kwukduck]

It's NOT fine!
We need the fundamentals fixed if this is going to even survive at all.
Right now superior coins that solve bitcoins core problems are rapidly gaining userbase and i suspect them to soon surpass bitcoin.
I had hoped bitcoin would be the crypto of the future and be fixed along the way. I guess i overestimated the community in their intentions of why they are involved with bitcoin.

[The Sceptical Chymist]

I love that picture.

But I do think this is fine.  There's no frigging asset price that can rise as high as bitcoin's did in the last 2 weeks and NOT have a correction.  It just doesn't happen. 

I'm glad I was awake for the crash back to $850 or so.  I don't own a hell of a lot of bitcoin, so it was amusing to me to see the price drop as precipitously as it did.  It's a good reminder to all of us that bitcoin can still be crazy, crazy, volatile.  Not quite like 2013, but this was as close as we've seen.

[HarryKPeters]

I went to https://bitcoinwisdom.com/markets/bitfinex/btcusd and looked at the chart for the 1w time interval and this drop looks like a healthy pullback. What do you think?

Initially I thought the same. but with leaving old support 880, we may see it go down futher.
I'm not sure how the first and second events could cause such a big decline but volume keeps pumping (330,652,000) so  the weekend may be not for the good.

[kwukduck]

It's going fast again. Sub $800 within the hour.