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Author Topic: When do you think the BTC correction is coming? Is a crypto crash coming?  (Read 542 times)
relentless1
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September 01, 2017, 10:04:17 AM
 #1

I'm bullish for the distant long term but I just cant see this type of growth sustaining. What price do you think there will be a correction as I do want to average down.

If there is a clear possible correction, it would be the November fork right? which could go either way.

Thanks
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September 01, 2017, 10:09:34 AM
 #2

I don't think the November fork will happen, at least certainly not how the people planning it want it to.

It's hard to say when the crash will come. It doesn't feel like mania yet, but it's building. It's conceivable that the post crash price might settle higher than it is right now depending on how much longer it goes on for.

As for the growth sustaining, it could be argued that growth has been suppressed for many years. First by the Chinese zero fee exchanges that always dumped on every rise, and secondly by the endless scaling crap that's at least partially resolved.

I wouldn't be making any bets on anything at the moment. It's all kind of unprecedented.

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September 01, 2017, 10:25:28 AM
 #3

I don't think the November fork will happen, at least certainly not how the people planning it want it to.

It's hard to say when the crash will come. It doesn't feel like mania yet, but it's building. It's conceivable that the post crash price might settle higher than it is right now depending on how much longer it goes on for.

As for the growth sustaining, it could be argued that growth has been suppressed for many years. First by the Chinese zero fee exchanges that always dumped on every rise, and secondly by the endless scaling crap that's at least partially resolved.

I wouldn't be making any bets on anything at the moment. It's all kind of unprecedented.

F2pool has already rejected the NYC agreement, so about 15% of the hashrate that signed the agreement is no longer supporting it. That makes segwit2x have 75%... still a problem. But there's still time to more current members of the agreement to drop.

If we can avoid the segwit2x disaster we can go to 5 figures easily. I think if it drops to 50%, they will not be stupid enough to go through with it anymore.

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BitcoinHodler
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September 01, 2017, 10:41:45 AM
 #4

i sometimes wonder what different people who ask questions like this imagine a "correction" is. i hope OP can shed some light on this.

what do you expect out of a correction? lets assume price is $5000 right now. how big a drop and in what time frame would you call a "correction"?

down to $4800? $4500? $4000? $3000? maybe $1000? or maybe 2 digits again?
a 5% drop? a 10%? 20%? 50%? more?
1 day? a week? a month? how long should this drop last before the next rise so you consider it a correction?














 

 

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LFC_Bitcoin
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September 01, 2017, 10:47:51 AM
 #5

i sometimes wonder what different people who ask questions like this imagine a "correction" is. i hope OP can shed some light on this.

what do you expect out of a correction? lets assume price is $5000 right now. how big a drop and in what time frame would you call a "correction"?

down to $4800? $4500? $4000? $3000? maybe $1000? or maybe 2 digits again?
a 5% drop? a 10%? 20%? 50%? more?
1 day? a week? a month? how long should this drop last before the next rise so you consider it a correction?

Bolded - Simply never going to happen.

There will be a correction, there always is but they've been microscopic lately in the big scale. Bitcoin goes up up up, zoom out and look at a chart since inception.

BitcoinHodler
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September 01, 2017, 10:54:39 AM
 #6

i sometimes wonder what different people who ask questions like this imagine a "correction" is. i hope OP can shed some light on this.

what do you expect out of a correction? lets assume price is $5000 right now. how big a drop and in what time frame would you call a "correction"?

down to $4800? $4500? $4000? $3000? maybe $1000? or maybe 2 digits again?
a 5% drop? a 10%? 20%? 50%? more?
1 day? a week? a month? how long should this drop last before the next rise so you consider it a correction?

Bolded - Simply never going to happen.

There will be a correction, there always is but they've been microscopic lately in the big scale. Bitcoin goes up up up, zoom out and look at a chart since inception.

i am not asking what will or will not happen!
i am asking what they expect out of a "correction". i am just trying to figure out why people don't see the corrections that have already been happening.
for example the 20% drop that happened from that time's ATH 9-10 days ago. wasn't that a correction? or should price drop sharp down to a ridiculously low number and stay there for 6 months so that they can call it "correction"?














 

 

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1Referee
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September 01, 2017, 11:51:24 AM
 #7

If there is a clear possible correction, it would be the November fork right? which could go either way.

It's safe to say that no one is able to say anything of value about when this correction will kick in. However, if we look at the hard fork that is supposed to take place in November, we at least have a clue of how the market might be performing due to the uncertainties. In that regard, you can anticipate on the market to *potentially* take a step or two back, by cashing out some of your profits on the way up. I personally cash out like 10% of my profits by each $400-$500 increase. Yesterday I cashed out some profits slightly over the $4600 level, and my next target will be $5000 to unload another 10%. This is exactly why one should never cash out everything at once. By cashing out smaller chunks of your profits, you'll be able to continue to benefit from the price going up further.

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September 01, 2017, 12:03:36 PM
 #8

i sometimes wonder what different people who ask questions like this imagine a "correction" is. i hope OP can shed some light on this.

what do you expect out of a correction? lets assume price is $5000 right now. how big a drop and in what time frame would you call a "correction"?

down to $4800? $4500? $4000? $3000? maybe $1000? or maybe 2 digits again?
a 5% drop? a 10%? 20%? 50%? more?
1 day? a week? a month? how long should this drop last before the next rise so you consider it a correction?

Bolded - Simply never going to happen.

There will be a correction, there always is but they've been microscopic lately in the big scale. Bitcoin goes up up up, zoom out and look at a chart since inception.

i am not asking what will or will not happen!
i am asking what they expect out of a "correction". i am just trying to figure out why people don't see the corrections that have already been happening.
for example the 20% drop that happened from that time's ATH 9-10 days ago. wasn't that a correction? or should price drop sharp down to a ridiculously low number and stay there for 6 months so that they can call it "correction"?
I don't think bitcoin will crash as above mentioned, correction is happening little by little already. This doesn't mean that it will forever be gone but this is only a challenge or somehow a strategy to make the demands more stronger for bitcoin. Recently, the price has reached to 220 thousand dollars above. Then, that's a lot difference after August 1st came. Probably it will last till the end but not too close this year because many of us have invested our time in earning our bitcoin. Sooner we want to become more successful people, together we can make it.

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September 01, 2017, 12:06:25 PM
 #9

I'm bullish for the distant long term but I just cant see this type of growth sustaining. What price do you think there will be a correction as I do want to average down.

If there is a clear possible correction, it would be the November fork right? which could go either way.

Thanks
I think we will see the correction in short time, bitcoin already touched its new ath in these days, some people saying the bitcoin will be keep in touch with correction as fast as possible after the pump will have ended. And i can say that the cryptocrash coming after the september.

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September 01, 2017, 12:25:48 PM
 #10

i am not asking what will or will not happen!
i am asking what they expect out of a "correction".

Reality for me at least was left behind above $1500 or so. Since that $1800 bottom it's carried on drifting up and I'm not sure I'd call a 20% drop a correction, more of a breather.

At this moment in time I ain't got a clue what's going to happen.

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September 01, 2017, 12:29:56 PM
 #11

Seeing how much "free" money that investors are getting with BCH, even more people would probably rush to stock up their BTC so that they get maximum airdrop if a hard fork does occur in November!

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September 01, 2017, 12:33:25 PM
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I am enjoying the bubble and wont worry too much about the crash, we are a very long way from that. Buy and hold for a while ifyou can afford to.

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September 01, 2017, 01:19:56 PM
 #13

I honestly think this is just some natural growth bitcoin is experiencing for the time being and any price changes from here on out will be pumps or dumps and I do not see any crypto crash which is something I consider more severe but a dip most definitely because these are normal occurrences in the bitcoin ecosystem.
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September 01, 2017, 01:26:59 PM
 #14

I don't think that correction could trigger the collapse of bitcoin. Earlier this year we saw the mark below 1000 dollars. Now $ 4,800. What should be the correction that you have lost confidence in bitcoin? Bitcoin price always rises more than 100% per year. This can only attract new people.

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September 01, 2017, 06:49:20 PM
 #15

I don't think that correction could trigger the collapse of bitcoin. Earlier this year we saw the mark below 1000 dollars. Now $ 4,800. What should be the correction that you have lost confidence in bitcoin? Bitcoin price always rises more than 100% per year. This can only attract new people.
I think that we should wait, but I'm straight and see another fork. I then can not imagine how the birth of a new double will affect Bitcoin. Perhaps this affects the pricing of the crypto currency, but we will only have to wait and watch.

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