Will there be an epic dump?

[European Central Bank]

there's an army of noobs. noobs mean weak hands. none of them understand what they're getting into and they'll screw up eventually.

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[Xember]

there's an army of noobs. noobs mean weak hands. none of them understand what they're getting into and they'll screw up eventually.

Is that the reason for the big drop just now?

[European Central Bank]

Is that the reason for the big drop just now?

it went up too fast based on pretty much nothing. it came down for the same lack of reasons. the air is thin at those levels.

[alyssa85]

It's a possibility. According to the following article, we could either see a correction of 47%, or the price will jump to about $6000:

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Bitcoin is close to hitting a price that could see a 47 percent correction, according to one analyst, following a huge rally for the cryptocurrency that has led it to record highs.

On Thursday, bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.

Meanwhile, the number of long positions – those betting on bitcoin to rise – has risen 18.2 percent, while short positions – those thinking the cryptocurrency will fall – have declined 10 percent since the start of the week, showing that traders are getting more bullish on the cryptocurrency, according to data from Bitfinex.

One technical analyst, who looks at historical trading patterns to determine future price moves, told CNBC that the $2,800 could mark a level of resistance where the bitcoin pulls back

.

The article then goes into stuff about fibonacci waves.

Further to the post above, looks like the dump has started. If it pans out the way they predict, the bottom is about $1500. Be careful out there folks!

[2double0]

It's a possibility. According to the following article, we could either see a correction of 47%, or the price will jump to about $6000:

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Bitcoin is close to hitting a price that could see a 47 percent correction, according to one analyst, following a huge rally for the cryptocurrency that has led it to record highs.

On Thursday, bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.

Meanwhile, the number of long positions – those betting on bitcoin to rise – has risen 18.2 percent, while short positions – those thinking the cryptocurrency will fall – have declined 10 percent since the start of the week, showing that traders are getting more bullish on the cryptocurrency, according to data from Bitfinex.

One technical analyst, who looks at historical trading patterns to determine future price moves, told CNBC that the $2,800 could mark a level of resistance where the bitcoin pulls back

.

The article then goes into stuff about fibonacci waves.

Further to the post above, looks like the dump has started. If it pans out the way they predict, the bottom is about $1500. Be careful out there folks!

The levels that this analyst suggested were to be touched based on Fibonacci levels, and charts are not to be trusted always in bitcoins because this market is too much speculative and goes its own way, I would say we may see a correction wave back to 2800 (where that analyst said that bitcoins should reach) after which it will crash back to 1450. But, as bitcoin is gaining importance as well as audience, so is everyone trying to get their hands on its fame to get popular themselves by "predicting" about it.

[N7Pathfinder]

Is that the reason for the big drop just now?

it went up too fast based on pretty much nothing. it came down for the same lack of reasons. the air is thin at those levels.

From what I have noticed is that there are large amounts of coins being dumped at certain times of the day! The price drops $350 then they buy the coins again and sell them the next day when the price goes up and so on! There is no price correction here, this is market manipulation which worries me to be honest! I don't know how they are able to do that but that's not good for the Bitcoin market.

[Slow death]

Wow $2673.00 yeah the dump will happen soon. I suspect it will drop the price back down to about $600 just a guess

Oh you're right... I'm very angry, I was already seeing the $3000 door but my hopes are gone


@2double0


"The levels that this analyst suggested were to be touched based on Fibonacci levels, and charts are not to be trusted always in bitcoins because this market is too much speculative and goes its own way, I would say we may see a correction wave back to 2800 (where that analyst said that bitcoins should reach) after which it will crash back to 1450. But, as bitcoin is gaining importance as well as audience, so is everyone trying to get their hands on its fame to get popular themselves by "predicting" about it."


Really? Drop to $1400?

[N7Pathfinder]

There will be another big whale dump over the next 1-2 hours. This is happening daily, watch and see!

[jubalix]

I think the dump now is healthy .... it did not moon so much, and is not dumping is no to bad ... yet.

[ngin-x]

The price has moved up way too quickly. It has doubled in a month. There will be a dump no doubt but will it be too sudden or a slow one in phases, that's the question. We are seeing a dump happening again now as we speak. I probably made a big mistake buying very high but I have no choice but to hold now even if price dumps to $1400.

[alyssa85]

It's a possibility. According to the following article, we could either see a correction of 47%, or the price will jump to about $6000:

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Bitcoin is close to hitting a price that could see a 47 percent correction, according to one analyst, following a huge rally for the cryptocurrency that has led it to record highs.

On Thursday, bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.

Meanwhile, the number of long positions – those betting on bitcoin to rise – has risen 18.2 percent, while short positions – those thinking the cryptocurrency will fall – have declined 10 percent since the start of the week, showing that traders are getting more bullish on the cryptocurrency, according to data from Bitfinex.

One technical analyst, who looks at historical trading patterns to determine future price moves, told CNBC that the $2,800 could mark a level of resistance where the bitcoin pulls back

.

The article then goes into stuff about fibonacci waves.

The dump has started, Bitcoin is below $2000. According to the article above, it could go to $1470:

Currently, the bitcoin world is in "wave three" and according to Duke's analysis, $2,800 could be the level at which bitcoin begins its fall. The price is likely to hit $1,780, but could even fall as far as $1,470, Duke told CNBC. This would mark a 46.5 percent decline from Thursday's high.

[talks_cheep]

The price has moved up way too quickly. It has doubled in a month. There will be a dump no doubt but will it be too sudden or a slow one in phases, that's the question. We are seeing a dump happening again now as we speak. I probably made a big mistake buying very high but I have no choice but to hold now even if price dumps to $1400.

thanks for your honesty, but you are one of many here in the forum who will lose  his shirts. your greed has led you to your death.

[coolsai]

The dump is well under way but I think its almost finished, the pump was very fast and so will the dump be. It seems epic in absolute numbers but percentage wise its a very small dump compared to previous ones.

[N7Pathfinder]

Anymore expected dumps to happen soon? Should I buy or wait a little more?

[MMysterious]

If there's a pump there will always be a dump, that's how trading goes.  The question is when will be the heavy dump.

[N7Pathfinder]

If there's a pump there will always be a dump, that's how trading goes.  The question is when will be the heavy dump.

So are you expecting another big dump after the one happened today?

Looks like big purchases are happening again now. The whales are buying back I suppose.

[saqwe]

Everything is working fine with bitcoin until the large miners reach consensus to drop the price every 6 months by creating an artificial hard fork.

Please read https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77

You can contact me if you want to know the next hard fork but especially on how to protect your bitcoin investments or savings.

[eaLiTy]

If there's a pump there will always be a dump, that's how trading goes.  The question is when will be the heavy dump.

It all depends upon how the big time investors plan on booking their profits,lets get the facts straight,for the past few days most of the major exchanges were having issues when it comes to bitcoin and alt coin investment and withdrawals and some web wallets were also having issues and i think these things were connected with the correction we saw today.

[xslugx]

there's an army of noobs. noobs mean weak hands. none of them understand what they're getting into and they'll screw up eventually.

Well I don't know if noobs are responsible but we had our epic dump.

I'm not worried though, rather the contrary.
It was NOT an healthy rise whatever some fanatics were saying. It was not an horrible bubble but it's not a normal rise. Why should the price double in less than a month? Everyday we had like 5% rise, without any serious correction (apart the few 50$ ones)

It's great we had a good old dump. Now price will steadily rise again and we'll be able to sell the coins we bough in the dump ^^

[dothebeats]

Then it happened, a cutesy little dump was made from $2700 to $2000. Surprisingly it didn't pushed down a little further which I see would possibly happen considering the rise that we have had. Anyhow, it's good that it held the $2000 ranges and if anything, we are headed to a nice bullish trend soon.