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Author Topic: A price correction is happening now  (Read 3332 times)
Paya
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May 12, 2017, 11:56:37 PM
 #21

I do hope we can keep our nose above 1200 level. Less than that would be bad. Like, 2013. bad. Almost.

I hate damn bubbles.
It's not a bubble, it is real, organic growth caused by increased demand in Japan. In 2013 we had totally artificial bubble created by Mt.Gox and Chinese leverage speculators.

Price of BTC won't crash this time, we will have normal correction, and then BTC will resume bull run. It is a high chance that we will see $2000 sooner that we thought we would.
Mechanics is different than before, I agree, and numbers are overall less dramatic, but after this crazy bull run psychological effect (of the roll back to or even below 1000) would be nearly the same. You know how it goes - lot of people lose money and leave disappointed, mainstream medias spread bad news, and so on... all followed by another period of stagnation. If this happens, we won't come anywhere near stable 2000 for a very long time.

In my opinion, increased demand in Japan is purely speculative. I am not seeing well developed businesses there starting to accept btc; there are only unconfirmed rumors, FOMO, and bs. Hardly a foundation for healthy sustainable growth.

I hope that you're right, though.
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May 13, 2017, 03:45:07 AM
 #22

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

price went up too fast, it should have came down. the correction always happens just like how the rise always happens. there is nothing stopping that. we just need to be ready to buy at the bottom before the golden opportunity fades away.

just like the $800 earlier this year, this dip will end soon too. and next target will be $2200 this time.

Buying the dip...
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May 13, 2017, 04:14:42 AM
 #23

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?
It will never below $1500

Bitcoin is having a strong support on the market. That will protect the bitcoin price from get dumping a lot by the trades. I have speculated about this. I will try to enter if there will another good news coming for us.
It may bring another bullish trend and i can take some money. $1600 is a good bottom for me.

Just put your order at the bottom and wait until the market gets panic sell.  Roll Eyes
For now that is the wisest thing to do but it might fall under 1500$ and 1600$ is not the new bottom in my opinion there is a possibility of it going back to 1200$-1300$ ranges if there aren't any good news in the coming days, if there are maybe the upward trend we experienced will continue again to reach new heights we have never seen before.

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May 13, 2017, 06:32:47 AM
 #24

< $1000?

very unlikely, the price reocovered tot he previous high , which was around $1300, then from that we made a new high which is $1900 or something, i didn't check precisely

from this i can deduct, that the bottom will be the previous high, and will hardly fall under $1300, but i would also bet that below $1500 is a tough call, i would play the $1500-1900 range
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May 13, 2017, 06:35:07 AM
 #25

this looks more like a pre correction kind of dip, i am afraid we may see more drop when the ETF is rejected once again, not that ETF matters, it is still the same useless thing but traders seem to like the effect it has.

but that is all for the better rise in next phase. we have already had the same thing happen when price dropped from 1200+ to 900 once. and now we may see the same thing happen again 1800+ to 1500(?) and back up to $2300 Cheesy

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May 13, 2017, 07:47:57 AM
 #26

I think the price dip was due to the negative coverage about the UK hospital and other services getting hacked into.
Then mentioning Bitcoin was the payment method for the ransoms so could be some malware sellers converting fiat this is speculation so it's fun to speculate.

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May 13, 2017, 08:01:56 AM
 #27

this looks more like a pre correction kind of dip

Looks so.
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May 13, 2017, 08:31:23 AM
 #28

I think the price dip was due to the negative coverage about the UK hospital and other services getting hacked into.
Then mentioning Bitcoin was the payment method for the ransoms so could be some malware sellers converting fiat this is speculation so it's fun to speculate.

It always happens when ever their is some selling in the bitcoin like this rumors start to roam so that bitcoin users get panic and sell it , very soon you will see back the recovery and next ATH price in bitcoin

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May 13, 2017, 08:36:49 AM
 #29

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?

price went up too fast, it should have came down. the correction always happens just like how the rise always happens. there is nothing stopping that. we just need to be ready to buy at the bottom before the golden opportunity fades away.

just like the $800 earlier this year, this dip will end soon too. and next target will be $2200 this time.


Yes this correction was definitely needed.
A chance for the guys with some money left to accumulate more and for the new ones to get in.
Will be interesting to watch how this will develop until monday where another ETF announcement is going to happen right?
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May 13, 2017, 08:38:34 AM
 #30

I think the price dip was due to the negative coverage about the UK hospital and other services getting hacked into.
Then mentioning Bitcoin was the payment method for the ransoms so could be some malware sellers converting fiat this is speculation so it's fun to speculate.
Bitcoin has decreased considerably. We're all here when it's been speculated that bitcoin prices will continue to rise. I do not believe that there is anything like this, there are some negative news that we should be able to bear. Because the negative news has a huge impact on bitcoin prices.

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May 13, 2017, 08:46:40 AM
 #31

This down mean that price correction is in order it can be like that by 1500 and the up to 2000 or 3000. Price is over 1700 at the moment so think that this down peak was only temporally and that we would be fix it in matter of days think that in Monday we will have price again over 1800, so dont need to be worry about anything.



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May 13, 2017, 09:53:45 AM
 #32

This down mean that price correction is in order it can be like that by 1500 and the up to 2000 or 3000. Price is over 1700 at the moment so think that this down peak was only temporally and that we would be fix it in matter of days think that in Monday we will have price again over 1800, so dont need to be worry about anything.

i wouldn't be so hasty to speculate like this.
there are a lot of things that need to be happening soon, that can change the price drastically. one of which is SEC decision about ETF, once again they can deny it and price continued dropping.
the bitfinex drama is not yet over either.
the BU drama is not completely over yet either!

all of these can go both way.














 

 

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May 13, 2017, 06:38:06 PM
 #33

At moment of this post, it's 1650USD, which is almost -240usd vs high point 1890, Bitstamp data.

So how far you think it may go? Or at what price you are going to enter?
I’m not buying anything at these prices, if you do and the price crashes because of bad news you risk having your money frozen for a long time, so it is better to wait for the bubble to end and then enter when the price is a lot more reasonable.

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May 13, 2017, 08:34:21 PM
 #34

It dropped from $1900 to $1750 in 1 day and this decline would happen gradually, or may be even faster than how it happened when the price kept increasing unless there are enough buyers who can afford to buy bitcoins at $1750 else there will be a huge dump from holders that would make the price reach $1200 soon.

I think the price of bitcoin soon will be increase again back we are just seeing huge price few hours ago almost $150 plus but the price was increase back and i think there is someone are sold their huge bitcoin in the market that is why we are experience of drop this  day.. but soon hoping that the price can be increase fast..
For those who mention about $1,000 i think its impossible to happen right now because bitcoin is already been legal in japan..

Even if bitcoins are legal in japan, the market doesn't work that way. It's price fluctuates depending on the market and controversies. The current jump took place after the exchange bitfinex having issues.

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May 13, 2017, 08:45:02 PM
 #35

If you are a trader then stop selling, even if price crashed down to $50 keep holding your coins, only newbies without enough experience would fall for whales tricking them causing panic sell.

I need to teach a lesson, if you buy at $1800 then do not sell lower $1800 under any circumstances what so ever if every single buyer refuses to sell with loss then how would you suggest the price to drop?
How many bitcoins do they have? let them dump as it benefits the medium class traders providing an opportunity for them to buy cheaper.

I am begging you when you buy at any price, don't sell with loss because then price will start to go down, and guess who is buying from you when selling lower than what you bought? exactly the same whales sold you those coins, that circle never ends if you keep doing this.

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May 13, 2017, 08:46:17 PM
 #36

I think btc need some stabilisation and btc needs to find new floor,price is still above 10000 yuan,so maybe 10000 yuan is new floor


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May 13, 2017, 09:28:34 PM
 #37

I need to teach a lesson, if you buy at $1800 then do not sell lower $1800 under any circumstances what so ever if every single buyer refuses to sell with loss then how would you suggest the price to drop?
I hate this kind of reasoning.  If every single person refused to sell at a loss, there would be no trading because the buyers would never match the sellers.  It's just the basics of how an exchange works.  For trading there have to be losers as winners and no group can unanimously do the same thing when everyone is only there to get profit.
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May 13, 2017, 11:47:45 PM
 #38

I need to teach a lesson, if you buy at $1800 then do not sell lower $1800 under any circumstances what so ever if every single buyer refuses to sell with loss then how would you suggest the price to drop?
I hate this kind of reasoning.  If every single person refused to sell at a loss, there would be no trading because the buyers would never match the sellers.  It's just the basics of how an exchange works.  For trading there have to be losers as winners and no group can unanimously do the same thing when everyone is only there to get profit.

Remember bitcoin is still being mined, so there is still a fresh supply that will flow in the market.  And it is the right thing to do when we want profit.  We must not sell lower than the price we bought.  You can even do it yourself unless you are a buyer Cheesy.



Correction is always the next thing to happen every rapid increase or decrease in price. It is expected.  So other people does not rush in buying when the price is surging up fast, they just need some time and price will definitely correct itself after some time.




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May 13, 2017, 11:58:26 PM
 #39

As matters now stand,the correction is already over
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May 13, 2017, 11:59:39 PM
 #40

I really expected  a good correction but it looks like the price of bitcoin has rebounded after a slight dip and i really cannot understand what made the dip and we did not see a major panic and the market is yet again stable as it is above $1800 yet again.I did wait to re enter as i thought we could see a good correction but the price recovered pretty soon before giving me an opportunity.














 

 

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