A big old correction going on...

[rhyso]

Just saying...

Where will it stop?

[1713984242]

1713984242

[BillyBobZorton]

Just saying...

Where will it stop?

We just broke the $2314 bottom of yesterday (by Bitstamp price) so I guess we are going to continue dipping for a while. If you believe in double bottoms, then we'll test $2140. If you don't then we'll go even lower, or retrace and go back up in the middle of this channel. Im hoping it's the former.

Im wondering what is causing this. Could it be Ethereum's big crash having an impact on Bitcoin too? Bitcoin fundamentals should be bullish since we are getting segwit soon, but yeah there's that uncertainty too about miners not actually locking in segwit. I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise.

[Sniper44]

... I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise.

this is actually what i was discussing with some people the other day.
we all know that activation of SegWit means a big rise and a follow up bullish market for a very long time to come.
so this simply means before it activates the only time whales can pick up more cheap coins is now, hence the dumps and shake outs.

it has happened many time before too. just before the $2000 was broken we saw the struggle to go above $1250 before that the dumps and struggle to break $900-$1000 and so on. and each time a dip and a lot of shake out before the big bang.

[Kprawn]

... I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise.

this is actually what i was discussing with some people the other day.
we all know that activation of SegWit means a big rise and a follow up bullish market for a very long time to come.
so this simply means before it activates the only time whales can pick up more cheap coins is now, hence the dumps and shake outs.

it has happened many time before too. just before the $2000 was broken we saw the struggle to go above $1250 before that the dumps and struggle to break $900-$1000 and so on. and each time a dip and a lot of shake out before the big bang.

Yes, my thoughts exactly and you know most newbies fall for this EVERY time. Some of these whales do not even have to dump a lot of coins for

this to happen. They collectively decide to dump a few coins to stimulate a "panic" and then the downward spiral start.... they wait for price to

drop and then they start buying up all these "cheap" coins. Most traders use bots and triggers, so this happens quickly and the profits are huge,

once these Whales starts to buy again. 

[gentlemand]

I don't think anything at all guarantees a big rise. Perhaps segwit is now so expected by everyone that it's already been priced in. It was always going to arrive somehow or other. It's just been stalled relentlessly.

People probably underestimate the effect of an ETH plummet. People will look to escape and a regular route is BTC to dollars.

[alyssa85]

Just saying...

Where will it stop?

When all the stop-losses have been picked off, clearing way for a new bull run.

[beerlover]

Thank you for agreeing at least as a correction rather than naming as crash. It is not too big nor old, a new down side wave, hopefully may end some where between $2200 to $2300 as these are big support levels and good levels for re-buying hence we can expect another wave renouncing from tonight onward too !

[rhyso]

Thank you for agreeing at least as a correction rather than naming as crash.

It would have to go down well below $1000 to be a crash. Anything that climbs by so much in a short period of time, is going to have a correction of some type.

After watching for the last few years, i was actually suprised to see it get to 3k before retreating.

It is a great sign.

[ethereumhunter]

i think the price could down too deep than now as we can see that many traders have to be panic to see the market and they are selling their bitcoin so fast. i don't know how much the price will be and i think its because many of us is waiting what will happen in august 1 and the panic situations is already happen now.

[richardsNY]

Last correction didn't make it to sub $2100 levels, where today I expect a similar correction, but the bottom will likely be $2000 as I don't believe there is any intention to dump it below that level. But then again, that's just speculation -- it very well might trigger a few large traders to close their positions, and maybe even trigger stop loss orders that will exaggerate the dump at that moment. I'll buy back some coins at sub $2100 levels, if we happen to go there.

[hurain]

Last correction didn't make it to sub $2100 levels, where today I expect a similar correction, but the bottom will likely be $2000 as I don't believe there is any intention to dump it below that level. But then again, that's just speculation -- it very well might trigger a few large traders to close their positions, and maybe even trigger stop loss orders that will exaggerate the dump at that moment. I'll buy back some coins at sub $2100 levels, if we happen to go there.

if you are interested you should try to buy bitcoin right now, because i  do not think that there is any chance that the price will come down to 2100$, it is going to start increase from the current position, therefore you should try to start buying bitcoin right now.

[agustina2]

Just saying...

Where will it stop?

Sorry to say but you will not get an answer here. Better just watched it and if you saw it stop then it stopped. All price movements is unpredictable and even all expert traders can give you the exact price where it will stop.

Hug the dip. Don't mind how far it will down but look for long term goals. No way bitcoin price will just move forward without swing. If you can afford to buy, do it.

[MoreBloodWine]

Noone can predict exact dip and tops. IMO you need to watch price action closely for better observation. Correction is also part of uptrend and never sell before hitting top second time in same year

[btc_angela]

LOL. The price is currently holding and I think that it go up sooner than we think. It's really hard to predict the price of bitcoin. Past 2 days its been going down but now the price is looking good and will probably hold at $2500. So no worries guy, just continue to hold and the price could go back to $2700 in a few days again.

[batang_bitcoin]

BTC is going down to $1250

Nope it didn't, last time I've got a gut feel that something is going to happen and well this is what I meant. The correction is what happened but I don't have an idea that it's quite too early. Anyways, the price is back now at $2,400 and I guess it's the end of the correction or do we need to expect that there's another one?

[skorupi17]

Just saying...

Where will it stop?

Is this really a correction going on? I believe that this is just the effect to some people that have fears toward the August first, Segwit activation. They are afraid of the uncertainties on that event that they decide to sell their Bitcoins before the date comes. This will happen to continue as we approach the said date.

BTC is doing down to $1250
alts will follow proportionally, if not more

Tell me, what is your relations to kwukduck?

[Rahar02]

... I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise.

this is actually what i was discussing with some people the other day.
we all know that activation of SegWit means a big rise and a follow up bullish market for a very long time to come.
so this simply means before it activates the only time whales can pick up more cheap coins is now, hence the dumps and shake outs.

it has happened many time before too. just before the $2000 was broken we saw the struggle to go above $1250 before that the dumps and struggle to break $900-$1000 and so on. and each time a dip and a lot of shake out before the big bang.

It seems started from ethereum price decline, then people speculate ICOs project cash out their funds from ethereum to secure it on cash. Big dump occurred and people panic if didn't get the profits from the highest rate, from there it all started. But, bitcoin dropped back (- $200) as well follow ethereum, yes maybe some people panic sell after whales shake the market, but not sure.
What makes it interesting is after ethereum fall down, all coins follow this trend and many coins drop more than 20%, what a tragic.

[richardsNY]

if you are interested you should try to buy bitcoin right now, because i  do not think that there is any chance that the price will come down to 2100$, it is going to start increase from the current position, therefore you should try to start buying bitcoin right now.

I just trade the volatility of the market with a separate coin stash. If it doesn't fall below the $2100 level in the coming days, then it's not a problem at all. I always cash out 10% per time, so if the price is climbing back up to +$2700 levels, I'll just unload another 10%. By cashing out and buying with 10% per time, I basically benefit from each price movement.

[topper26]

Some buyback occuring right now.  we went into the 2200 range but back into the 2500s as I type. Always some relief, I like the decrease a bit to buy at a cheaper price but always exhale once that rise begins again!

[Fireblade]

Some buyback occuring right now.  we went into the 2200 range but back into the 2500s as I type. Always some relief, I like the decrease a bit to buy at a cheaper price but always exhale once that rise begins again!

bitcoin is in fact giving opportunities to people to invest money in bitcoin at low price , because the price is now start increasing and hope that it is not coming back from that price and hope that it will continue increasing because still there is a lot of potential in the price of bitcoin.