Is a correction happening?

[FlamingFingers]

So I woke up today to find the price jumping to $2,680 (Bitfinex price), I knew that was insane rise, but right now there is a little dip, Is it a correction? Does this mean that Bitcoin is going to stay above $2,000, and what we are experiencing now is not a bubble?

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[rickadone]

Most probably a correction (as it is not in considerable percentage to call it a crash) is happening. Right now bitstamp is trading -3.43% from yesterday's low 5% to 10% ups and downs are common for any commodity hence these fluctuations are not enough reasons to consider for any trend changes.

Some whales might have booked profits and some sense less panic traders must have followed them. Still, I am pretty sure we are going to have $3500 within this May month.

[LeGaulois]

if bitcoin holds above the 2000$ in this dump then we will hit more than the moon and very soon.The BTC chart was just insane this recent days and had to correct...anyway who thinks this might be a nice bulltrap for btc before the big huge correction?

[swogerino]

After a big rise like this one, correction in price is always behind the door so I think it is happening right now going from 2745 dollars to 2200 dollars a few minutes ago and going back to almost 2400 now. It shows that bitcoin price want to stay in higher levels. If it resists for a few other days at these levels than 3000 dollars is just a matter of time before it happens.

[Siren]

We are seeing a price correction right now. It is still trading at $2400 so maybe a few big whales jump dump their bitcoin to have profit. But everyone know that after a correction, there will be a lot of buying back, so let just see what would be the next target ($3000) after this correction.

[Skarner21]

The price of bitcoin after few hours drop down that i think there are still some whales out there trying to sale their all coins..
Or this is just because they are satisified what the price  today.. honestly bitcoin is really overvalued hoping to have more bitcoins..

[HabBear]

Correction, yes! And the support level has already been hit and bounced off of. We hit a low in the $2300s and we're now creeping back up into the mid $2400s. This shows how much support exists long term. It's great to see how quickly the the support comes to the rescue when there's a brief drop, it shows how many people see the pull backs as discounts on the value rather than weakness.

Exciting times ahead!

[richardsNY]

It was a near $500 dump -- by size it could be seen as some sort of a correction, but it offered people a great buy back opportunity. I sold today at $2700 and bought back at $2350, which resulted in a quick 15% in profits. I am not only happy that I bought back with profit, but also for the fact that one or more large players have likely liquidated a good sum of their profits.

[carlisle1]

Not sure but it is almost decreased $500 to its price so maybe correction is already happening right now . Hopefully it won't drop lower than that or else people will probably dump their coins as well .

[Richard Branson]

Hopefully it won't drop lower than that or else people will probably dump their coins as well .

Cheap coins are greate. Shake out the tards.

[cryptodontus]

if bitcoin holds above the 2000$ in this dump then we will hit more than the moon and very soon.The BTC chart was just insane this recent days and had to correct...anyway who thinks this might be a nice bulltrap for btc before the big huge correction?

It's just weak hands folding. We won't top before Japan price is lower than US price.

It goes like this:

1. Have 50% of daily volume (on 1 or more major exchange) in coins
2. Wait for 30% upswing and buy support that is close to market price
3. Pull all your buy orders
3. Sell into buy support down 8%
4. watch panic sell take price down another 8%
5. slowly buy your coins back until price reaches your lowest sell point
6. massive profit

Now the amounts might need to be fudged, as I'm no bitcoin whale. But that's the gist of it.

Hope nobody sends any assassins to shut me up

[Heartilly]

So I woke up today to find the price jumping to $2,680 (Bitfinex price), I knew that was insane rise, but right now there is a little dip, Is it a correction? Does this mean that Bitcoin is going to stay above $2,000, and what we are experiencing now is not a bubble?

In my view it's not. A correction price happened after a general price and stays around it for at least more period of time drop but today's drop is nothing as price have a behaviour of increasing again.

I believe we are in the little bubble that eventually will turned into a large one. Brace yourselves for more surprising price increase this upcoming period.

[cryptodontus]

The price of bitcoin after few hours drop down that i think there are still some whales out there trying to sale their all coins..
Or this is just because they are satisified what the price  today.. honestly bitcoin is really overvalued hoping to have more bitcoins..

When the market is ripe whales can actually use the strategy i described to INCREASE their coin holdings without spending any money, OR to profit take without losing any coins.

[serjent05]

I also think that this is a minor correction.  Bitcoin had been surging for several days, bull might had been tired and decided to take rest a bit.  Aside from that probably whales decided to part with some of their stash so we can see some minor dump on the chart.  But, I still believe that bitcoin price will continue to rise until $4000  at the end of the third quarter.

[batang_bitcoin]

Yep yep, just like what everyone is confirming it is only a correction. And so for those holders that managed to sell when it's at the peak, you can now buy some as the price is now lower. And the normal movement and cycle of bitcoin's price after the big pump there will be minor dump. And after that minor dump, there will be another major pump.

[audaciousbeing]

So I woke up today to find the price jumping to $2,680 (Bitfinex price), I knew that was insane rise, but right now there is a little dip, Is it a correction? Does this mean that Bitcoin is going to stay above $2,000, and what we are experiencing now is not a bubble?

I  believe that the price of bitcoin price has been taking an upward trend in the past few days and a few dip does not necessarily means the price is coming down although staying above $2000 dollars is still something worth happy about since its still s shift in the positive direction in the initial position of $1000+ few weeks ago. But its still growing and will recover.

[alyssa85]

Corrections are healthy. It would be nice if BTC stayed at or around the current price for a few months, establishing a new support level. But we shall wait and see what happens - it might go as low as £1500 before it starts climbing again. $1500 of course being way above where we started in January...

[jc89]

It is possible that it is a correction as seen on the sudden drop. However, the recovery of price will not take long as far as I know. After seeing the sudden drop, some people bought bitcoin at a lower price so bitcoin's price will recover quickly. Well nothing is certain. It might be a correction or maybe just a market thing. How do we even know if it is a correction or not in the first place?

[Jewell]

After a big rise like this one, correction in price is always behind the door so I think it is happening right now going from 2745 dollars to 2200 dollars a few minutes ago and going back to almost 2400 now. It shows that bitcoin price want to stay in higher levels. If it resists for a few other days at these levels than 3000 dollars is just a matter of time before it happens.

may be yes the price of bitcoin after a long rally and after a big increase now going to take a correction and that is the reason that the price of bitcoin fell down from 2700 USD level to 2400 USD level. although there can also so many other reason but if it is a correction then the price of bitcoin s not going to stay here for a long time and very soon the price of bitcoin is going to start increasing and this time it is going to cross 3000 USD level.

[Croneon]

this correction was necessary and overdue. time to buy more as you can