Price is increasing too fast, will there be a correction?

[alyssa85]

I think a retracement is underway at the moment. It hit $3975 on Kraken, but it is now below $3800. Maybe we'll have to wait till next week for the next assault on $4000.

[Bagaji]

Definitely there most be a correction but am not certain on whether it will happen below $4000 or  above $4000 because of its current movement. Although I advice you to apply what i call " Wait and see a Approach".

[digaran]

In crypto sphere whales greed is our strong point, while they get bigger and bigger by every passing day, larger and larger amounts being invested which will only result in price rising. there are too many new coins(mostly Chinese scam ICOs all offering the exact same shit, it's like they have the same web designer lol and same script writer double lol, there are some coins listed on coinmarketcap and when you visit their website you can see typos and misspellings all over the pages yet they are being traded for millions of dollars on some unknown and fake exchanges, triple lol.)
None of them worth even reading their whitepapers, all are the clones of original coins and platforms, and all of them are being pumped by the free money those fackers earned after the split, I promise you all of them will go down once they have no spare money to keep the support alive.

With Bitcoin, they dump and we'll see some corrections, however for an original crypto currency there will be always real support to keep the market alive for at least another decade.

[maokoto]

The increase is so sharp that it seems to me that the correction would be after reaching the 4000$ at least. I think there will be one...but likely will end over the 3000$.

[xaxistech]

Well bitcoin is going up too fast, i think there is gonna be a correction after passing the $4k support, it will make a dump but only for a few days, like it happened in the past, it's just happens and then go up again like it always did.
It touched $3940 today

[fabiorem]

I think the money is coming from somewhere else, but have no idea where.

Maybe it's McAfee, trying to save his own dick.

[xypos]

I think the money is coming from somewhere else, but have no idea where.

Maybe it's McAfee, trying to save his own dick.

Hahaha, nice one.

But still, his prediction would be $500k. And this is far from it. Not even 1% yet.

So imo it's definitely not from McAfee, or at least from him alone.

I wouldn't be getting in bitcoin at the moment. It's just too crazy to be sustainable and we'll probably see some sort of correction very soon. Personally, i'd hold whatever i've got right now but not buy in any further.

[stevebc]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

[pearlmen]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

This $4500 mark is something that seems impossible to break for the past few weeks and even the highest witnessed was around the late $4400s but I still believe we will break that mark but my fear is when as I am interested in seeing those times that will happen without having to be skeptical about the price correction as OP has said and that the benefit of SegWit, begins to manifest.

[pinky]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

4500$ was standed as a resistance level for a long time.Price have to break this level for reaching high levels like 5000$. Last uptrend already surplused price less than 2 week. There will be another uptrend after deep correction.

[PokerFace3]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

This $4500 mark is something that seems impossible to break for the past few weeks and even the highest witnessed was around the late $4400s but I still believe we will break that mark but my fear is when as I am interested in seeing those times that will happen without having to be skeptical about the price correction as OP has said and that the benefit of SegWit, begins to manifest.

I am not ready to agree that $4500 is a big resistance levels. I do see the possibilities of breaking it this week as we may experience $5000 this week.

One blocking issue here, tx fees are not getting impacted as expected post segwit activation. This may be a concern for investors to keep holding their capital. In a worst case we may see a correction up to $3800 levels but I am sure that may happen only after testing $5000 levels before end of this august.

[magneto]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

This is actually exactly why i think that there will be a correction. $4500 hasn't been broken in the first wave of pumping, and now it is still struggling to break $4500. Any time bitcoin is at $4400ish price seems to correct down by at least $100, like we've seen now.

Traders need to make profit, and traders who are long will be forced to liquidate their long positions eventually if the price doesn't go up. There is simply no profit to be made by them, and even a small drop would make them panic.

So yeah, price is indeed increasing too fast and i do think there will be a correction.

[btcney]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

This $4500 mark is something that seems impossible to break for the past few weeks and even the highest witnessed was around the late $4400s but I still believe we will break that mark but my fear is when as I am interested in seeing those times that will happen without having to be skeptical about the price correction as OP has said and that the benefit of SegWit, begins to manifest.

I am not ready to agree that $4500 is a big resistance levels. I do see the possibilities of breaking it this week as we may experience $5000 this week.

One blocking issue here, tx fees are not getting impacted as expected post segwit activation. This may be a concern for investors to keep holding their capital. In a worst case we may see a correction up to $3800 levels but I am sure that may happen only after testing $5000 levels before end of this august.

$4500 is probably the major resistance right now and i don't think that it is imambigious at all. Just look at the price charts, you can see distinctively whenever the price hit around $4500 or close to it there is a dump following it.

Seems like traders aren't ready to accept $4500 as a new floor yet.

I think that worst case scenario we will see bitcoin correcting to less than $2500 which was the price level that we have started with on 1st August(approx), best case scenario we'll still be seeing corrections, just not as intense. Probably down to $3800 or so as you said.

[hello_good_sir]

The price looks pretty stable - can't break 4500, but not dipping too much either.  I'm happy to see it set in that range for a while.

Sideways movement usually indicates something much bigger is about to happen.

What i think is most likely to happen is first another pump that will potentially push bitcoin over $4500(maybe even $5000, i'm not sure about the specifics), and gets everyone hyped up again. And then the correction will come arounda  week later, and people will start panic selling.

The correction is definitely going to come, sooner or later. We just don't know exactly when it's going to happen but it's going to happen this year or the start of next year. No way we are going to avoid it when the price has moved upwards so fast, for essentially no reason or very little reason. It is pure speculation, and we've seen that in history it has always resulted in a sizeable adjustment in the end.