I see we're consolidating quite nicely after yesterday's excessive rise and corresponding deep correction... currently $2418USD (Bitcoinaverage).
Too bad our string of green candles ended at 8 but we moderated the upsurge to the point where only the zaniest fools will call it a bubble.
It might take a few days to reach another ATH now but that's probably good. Steady growth is best.
People talk as if this "healthy correction" is over, but that is yet to be seen. It is a possiblity that this thing rebounds and new ATHs are reached, but it is a bigger possibility that we see a larger ongoing downward correction. Only the zaniest of fools would be calling for new ATHs in a matter of a few days at the present time. Come on man, take off your Bitcoin shaded sunglasses for a moment.
I never said the correction was over. I said we were consolidating.
A "larger ongoing downward correction"? Larger than $500? Good luck.
The correction could and should continue downwards quite a bit more, and ATHs will not be reached again in a matter of days... more likely a matter of months... and probably even more likely a year+. (those timeframes are guesstimated from Bitcoin's market history... where it reached previous ATHs then corrected itself)
Remember the last significant correction, on May 12-13?
It took "a matter of days" (5 to be exact) to reach a new ATH.
"Probably even more likely a year+. (those timeframes are guesstimated from Bitcoin's market history... where it reached previous ATHs then corrected itself)"?
What "Bitcoin's market history" are you referring to? The bubbles of 2011 and 2013?
Don't forget that in those bubbles the price rose by more than 1000% in weeks, not years. All this correction has proved is that this current bull market is
not a bubble.
It seems to me like you're hoping for a much lower price to buy in. Wishful thinking will get you nowhere.
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