Is another storm coming?

[uslfd]

Hello guys, been relatively new to the game.

Recently been watching price fairly closely. While BTC is able to trade above $4K, most of other coins are showing signs of weaknesses in the past 1 / 2 weeks.

My thoughts:

• Is the current BTC strength sustained by investors calling back investment from altcoins into BTC - which could soon be turned into fiat - hence leading to a potential big correction in BTC?
  

• Although BTC was able to recover from the quick dip below $4K three days ago - the support might have come from existing orders to buy BTC below $4K. Strength might disappear at the next coming dip as this earlier dip has wiped out enough bullish around high $3K areas.

• After all, BTC has risen a lot in a very short period of time - looks like any pullback is needed to show it is actually a healthy investment instead of a mega-bubble.

Please share your thoughts!  

Happy trading!

[ccowl]

I disagree. Summer was bad for crypto because many people went on vacation, temporarily stopped trading, stopped investing and pulled some money out. Also, people freaked because of the fork and then they put money into BTC to get some free BCC.

Now that people are back and the fork is over - people are more confident.

Quick growth to $4k? Although it was quick - it was also overdue. The bitcoin was trading @ $2k for too long and with all the new ICOs and governments accepting crypto - it is time to grow.

All coins showing weakness for 1 - 2 weeks? Actually BTC grew 3% in the last week, and other top 50 altcoins grew 15.1%. Feel free to use my website to see that data: https://ccowl.com/coins/OWL50
You can expand the "CRYPTO PRICES" section to see weekly stats. Almost all coins grew within the last week. Many grew 20+%. That's not the sign on weakness.

To sum it up:
* Summer was crappy for many reasons. Crypto is expected to start growing now
* More governments and corporations are starting to work with crypto
* Many new exciting developments in the crypto world with big professional teams

[BrewMaster]

since the correction has happened multiple times, many small dips and at least half a dozen big drops, i can say that there is no room for any more corrections the way you think.

with the price rising it proves that market is more ready for the rise than you may think and the support is strong for this rise specially with the good news of SegWit.

besides a big rise doesn't have to mean a big "pullback" is coming! take a look at the chart in this topic: https://bitcointalk.org/index.php?topic=2093528.0
a big rise or big numbers for price doesn't have to be scary, they are possible. it is just new to most people in bitcoin because they have never seen any other market in their lives.

[aardvark15]

Hello guys, been relatively new to the game.

Recently been watching price fairly closely. While BTC is able to trade above $4K, most of other coins are showing signs of weaknesses in the past 1 / 2 weeks.

My thoughts:

• Is the current BTC strength sustained by investors calling back investment from altcoins into BTC - which could soon be turned into fiat - hence leading to a potential big correction in BTC?
  

• Although BTC was able to recover from the quick dip below $4K three days ago - the support might have come from existing orders to buy BTC below $4K. Strength might disappear at the next coming dip as this earlier dip has wiped out enough bullish around high $3K areas.

• After all, BTC has risen a lot in a very short period of time - looks like any pullback is needed to show it is actually a healthy investment instead of a mega-bubble.

Please share your thoughts!  

Happy trading!

I agree that a pullback or correction is very likely because the Bitcoin price has risen so high so fast. It is the logical thing to happen. With that being said, Bitcoin is very unpredictable at least to me these days. The price seems to keep going up when you think it's going to drop.

I won't buy at prices this high and maybe I'll miss out if the price continues to $10,000 but the price just seems too high right now. I'm sticking with the Bitcoins I currently have and will only buy back in if there is a significant drop in price.

[CrypticGambit]

Hello guys, been relatively new to the game.

Recently been watching price fairly closely. While BTC is able to trade above $4K, most of other coins are showing signs of weaknesses in the past 1 / 2 weeks.

My thoughts:

• Is the current BTC strength sustained by investors calling back investment from altcoins into BTC - which could soon be turned into fiat - hence leading to a potential big correction in BTC?
  

• Although BTC was able to recover from the quick dip below $4K three days ago - the support might have come from existing orders to buy BTC below $4K. Strength might disappear at the next coming dip as this earlier dip has wiped out enough bullish around high $3K areas.

• After all, BTC has risen a lot in a very short period of time - looks like any pullback is needed to show it is actually a healthy investment instead of a mega-bubble.

Please share your thoughts!  

Happy trading!

I am not afraid about the bitcoin. But when it comes down to altcoins.
Well just look at the coinmarketcap. How many altcoins do you see?? Yes too many, only the strongest ones will survive.

[iram1011]

Hello guys, been relatively new to the game.

Recently been watching price fairly closely. While BTC is able to trade above $4K, most of other coins are showing signs of weaknesses in the past 1 / 2 weeks.

My thoughts:

• Is the current BTC strength sustained by investors calling back investment from altcoins into BTC - which could soon be turned into fiat - hence leading to a potential big correction in BTC?
  

• Although BTC was able to recover from the quick dip below $4K three days ago - the support might have come from existing orders to buy BTC below $4K. Strength might disappear at the next coming dip as this earlier dip has wiped out enough bullish around high $3K areas.

• After all, BTC has risen a lot in a very short period of time - looks like any pullback is needed to show it is actually a healthy investment instead of a mega-bubble.

Please share your thoughts!  

Happy trading!

1. There is hardly any correlation exist between Bitcoin and Altcoins. There was an uptrend as well as dip in Altcoin market when Bitcoin grows. You certainly can't come to any conclusion regarding this.

2. 3. There is a genuine increase in demand this year. This price trend is not a bubble. A minor correction did happen when Bitcoin reached $3700. But there is a least possibility of any long term big drop atleast till November. Bitcoin is in uptrend since the start of this year with some short term fluctuations with July being the exception. The July dip also wasn't a correction after a bubble. Rather it was because the fear and uncertainty created by fork and was not natural. There is an actual surge in demand and hence the price.

[arpon11]

We should not refer to price correction as storm as this will create panic in the  mind of amateur trader and most times the lose heavily because they don't know how this market work. I am certain there is going to be a little correction week to come and you should be sure that bitcoin is in bullish momentum right now.

[uslfd]

Thanks for all the great replies!

I'm curious if you guys use technical analysis / some sort of fundamental analysis to read into the price strength of BTC?

[CrypticGambit]

Thanks for all the great replies!

I'm curious if you guys use technical analysis / some sort of fundamental analysis to read into the price strength of BTC?

Well I have guy in my investor group that does  technical analysis. I think it is good to learn how to read the charts. You should definitely look into that.

[Insanerman]

We should not refer to price correction as storm as this will create panic in the  mind of amateur trader and most times the lose heavily because they don't know how this market work. I am certain there is going to be a little correction week to come and you should be sure that bitcoin is in bullish momentum right now.

Well its another FUDers news. There are news about this lighting activation this November and I think the say there will be another fork that will happen. I am a strong believer of bitcoin and this will not unfazed me.

Thats true bitcoin is still bullish right now.

[omonuyak]

We are not expecting anything yet and I don't Think  from now to November we would experience a storm are significant drop of bitcoin price. Though the storm is not over yet but price will be in range trend  for now. I forecast price to touch $5000 before we would experience any serious drop. Investors are moving from altcoins market to bitcoin market this days because of segwith activation.  We hope before the end of year we see price above $5000.

[LeGaulois]

August has never been a good month for Bitcoin so difficult to say something about. Add to that all the fake drama from July where people where in panic for almost nothing, as well November where the same panic will also happen and all the weak hands will sell their bitcoins in hurry....

[thelastmimzy]

It is the nature of investing that it is impossible to know for sure what is coming. Many think that we are in altcoin bubble, and yes, very soon there will be massive price drops. But there is also a chance that it is not a bubble, but a consequence of rising public awareness of crypto. There is also a chance that it is a bubble, but it still has many months to run.

Don't rely on strangers to tell you what will happen, it is not like you can blame them for any loss you might suffer.

[Sled]

If there will be a storm coming all we can do is just hold and don't get affected from those dips, dumps and just a huge correction because they are just for temporary and long term investment is the best option for bitcoin and that is storm is not impossible to happen so it is better to prepare our self and keep our hand hard like steel foo keeping our bitcoins for long term.

[Skarner21]

It is the nature of investing that it is impossible to know for sure what is coming. Many think that we are in altcoin bubble, and yes, very soon there will be massive price drops. But there is also a chance that it is not a bubble, but a consequence of rising public awareness of crypto. There is also a chance that it is a bubble, but it still has many months to run.

Don't rely on strangers to tell you what will happen, it is not like you can blame them for any loss you might suffer.

I don't think that there is a massive price drop as of now the price was very stable at this price from yesterday and today at level $4,300 that i think we have a strong price level. for me in my own speculation there will be a big price increase again with bitcoin this is just what i feel if all wallet will be segwit active the big problem about transaction fee will reduced that i think this is the only problem for other bitcoin users and holders..

[Ewinsane]

Thanks for all the great replies!

I'm curious if you guys use technical analysis / some sort of fundamental analysis to read into the price strength of BTC?

Well I have guy in my investor group that does  technical analysis. I think it is good to learn how to read the charts. You should definitely look into that.

If you are newbie, you are a senior member, you are an expert whosoever you are you must read the price charts.
Very well said here, it is quite good to learn to how to reads the price charts. Reason is they just give you the overlook of past and if you are smart then you may predict the future games of bitcoins to some extent.

[olubams]

Hello guys, been relatively new to the game.

Recently been watching price fairly closely. While BTC is able to trade above $4K, most of other coins are showing signs of weaknesses in the past 1 / 2 weeks.

My thoughts:

• Is the current BTC strength sustained by investors calling back investment from altcoins into BTC - which could soon be turned into fiat - hence leading to a potential big correction in BTC?
  

• Although BTC was able to recover from the quick dip below $4K three days ago - the support might have come from existing orders to buy BTC below $4K. Strength might disappear at the next coming dip as this earlier dip has wiped out enough bullish around high $3K areas.

• After all, BTC has risen a lot in a very short period of time - looks like any pullback is needed to show it is actually a healthy investment instead of a mega-bubble.

Please share your thoughts!  

Happy trading!

What is being witnessed now is not out of the ordinary as it has been predicted several times because of the last few weeks that stagnancy was witnessed, the next thing to expect is a surge in price couple with no effect felt concerning the SegWit activation. For the correction, not every time that happens although its a possibility but at this time there is a basis to rely upon and several interest in bitcoin are increasing on a daily basis.