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Author Topic: Bitcoin in a mood of correction?  (Read 1241 times)
magneto
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August 16, 2017, 07:28:39 AM
 #41

The price has indeed declined quite a lot from the ATH of $4500 per coin, and i have been expecting this to happen quite frankly.

As i said, there is simply denying that this was in a bubble because it has simply risen too much in too short of a period. There are definitely going to be a correction, probably much bigger than the current one coming maybe a week after Segwit actually gets acitvated.

However the price could well go up again after that major correction. Nothing is certain when market seems to be going absolute nuts.

Just do whatever you feel comfortable doing. But i think that bearish market might set in its full effect by next year.
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August 16, 2017, 09:48:14 AM
 #42

I have been watching Bitcoins all the time after it hit $3000 just a few days back after which a super rally got injected and it inflated higher till it reached its new ATH of 4491 (near to 4500 as mentioned by me and many other speculators), but it looks like it is currently playing sub 4000 but being fallen >10% of its price is indicating that once again we will be getting some coins for cheap. Shall we take it as just a corrective measure and move on and buy more OR shall we wait and see how big will this dip be?

It's not really cheap right now. Cheap coins in my opinion would be somewhere between $2000-2500. Anything above that is at par or somewhat high.

To answer your question i do think that we are going to enter in a period of ups and downs and mostly downs. There is simply no way that bitcoin is going to keep rising 10% per day. I think a lot of people have already gotten used to bitcoin rising so much, and when they see that bitcoin is just staying at the current level or even going down a bit sometimes they will panic since a lot of people are trading on margin.

This will cause a long squeeze, and i expect btc to go down to at least $3500 if not lower. It may recover, but i do think that currently we are in a bubble and people are overly optimistic about the short term.

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August 16, 2017, 10:27:00 AM
 #43

The price has indeed declined quite a lot from the ATH of $4500 per coin, and i have been expecting this to happen quite frankly.

As i said, there is simply denying that this was in a bubble because it has simply risen too much in too short of a period. There are definitely going to be a correction, probably much bigger than the current one coming maybe a week after Segwit actually gets acitvated.

However the price could well go up again after that major correction. Nothing is certain when market seems to be going absolute nuts.

Just do whatever you feel comfortable doing. But i think that bearish market might set in its full effect by next year.
The ongoing year has been experiencing bullish market, so the upcoming year might give us the bearish market scenario. As the above mate described nothing is certain with the cryptocurrency market. Based on this anything might happen, even the upcoming year can go bullish in the start and turn to be bearish. The growth right now has been under correction, but it is quiet sustained with stability.

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Paycoinzzz
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August 16, 2017, 10:36:27 AM
 #44

The price has indeed declined quite a lot from the ATH of $4500 per coin, and i have been expecting this to happen quite frankly.

As i said, there is simply denying that this was in a bubble because it has simply risen too much in too short of a period. There are definitely going to be a correction, probably much bigger than the current one coming maybe a week after Segwit actually gets acitvated.

However the price could well go up again after that major correction. Nothing is certain when market seems to be going absolute nuts.

Just do whatever you feel comfortable doing. But i think that bearish market might set in its full effect by next year.
The ongoing year has been experiencing bullish market, so the upcoming year might give us the bearish market scenario. As the above mate described nothing is certain with the cryptocurrency market. Based on this anything might happen, even the upcoming year can go bullish in the start and turn to be bearish. The growth right now has been under correction, but it is quiet sustained with stability.
I think depends the profit whales and big boy earned in this year enough with their hope or not.
However, most people on the world's are greedy, so I think they can't stop starting new scenario in next year.
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