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Author Topic: When do you think the price correction will occur?  (Read 681 times)
serdavos91
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September 01, 2017, 10:53:19 AM
 #1

And how much could it go down? Any ideas? I bought myself a Bitcoin when it was around 2500 $ and I'm kinda angry at myself that I didn't buy another one.

Once the correction happens, will you guys buy more bitcoins?
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BTC2
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September 01, 2017, 05:35:32 PM
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Right now the price is going up practically every day with no end in sight which means that a correction is unlikely to come this month unless there are negative news.
newIndia
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September 01, 2017, 05:39:06 PM
 #3

Cliff High's pet webbot says that BTC will go to 5k then fall to 4k then to 7k then back to 5k then 13k, but take it with a grain of salt because it has been 100% spot on for only 1.5 years now.
How does it predict? What parameters are taken into account?

Yoandy10
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September 01, 2017, 06:16:09 PM
 #4

It’s difficult to predict. But I always keep an eye out for major sell offs on the exchanges and an increase in available volume, so I can at least get a leg up on possible fluctuations. But it’s now always an accurate way of telling the market changes due to unforeseen action in Asia.

wearepoor
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September 01, 2017, 06:21:28 PM
 #5

And how much could it go down? Any ideas? I bought myself a Bitcoin when it was around 2500 $ and I'm kinda angry at myself that I didn't buy another one.

Once the correction happens, will you guys buy more bitcoins?

There will be a correction before the end of this year but still the value of the bitcoin will remain above $5000. I may be wrong but this is what i think. Obviously, it will be a good opportunity to collect more bitcoins in case of correction.

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NorrisK
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September 01, 2017, 06:23:48 PM
 #6

Right now the price is going up practically every day with no end in sight which means that a correction is unlikely to come this month unless there are negative news.

Lol, it's the first day of the month after an already good month.

I'm betting the correction comes sooner rather then later, even though bitcoin itself ofcourse has already been hovering up an down a lot before it went to these new highs.

Kemarit
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September 01, 2017, 07:11:36 PM
 #7

And how much could it go down? Any ideas? I bought myself a Bitcoin when it was around 2500 $ and I'm kinda angry at myself that I didn't buy another one.

Once the correction happens, will you guys buy more bitcoins?

LOL. Why are you thinking of corrections now, why not enjoy the massive bull run that we are currently seeing? Well if you are thinking that the price could go to $2500 then you are wrong. You have the perfect opportunity before to get it while the price is "low" and once it hit $5000 then your investment should have been doubled by then.

To answer you question, of course correction is necessary so that like you, new investors can get it and buy back bitcoin. However, its really hard to predict when its gonna happen because the price is purely speculative. You just have to monitor how the price goes, and see if there are external factors (negative) that will highly impact the price to go down.

angaper
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September 01, 2017, 07:44:29 PM
 #8

At least Goldman Sachs has predicted that after $ 4,800 we could expect a collapse at any time. Merrill Lynch predicted a price of $ 1,300 as the maximum top for bitcoin four years ago.

Therefore, as long as these rascals continue to predict collapses with such "accuracy", we can rest assured that bitcoin will continue to grow despite the bold efforts of these looters to cause fear and new crisis as they have done before.


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jorrit
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September 01, 2017, 07:50:27 PM
 #9

That's anybodies guess. One would expect things to change if new information comes to the market, good or bad. Maybe another fork would make people nervous? Release of a desktop quantum computer?
BellaBitBit
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September 01, 2017, 07:53:00 PM
 #10

Very hard to tell, I was expecting a corrected before it reached the 4500 mark.  I was thinking it could correct into the 3k's but no, so I think the fact it broke the 4500 mark it has momentum to continue a bit more.  It will be telling to see what happens the closer it gets to 5k, it may touch it and correct hard.  This is pure speculation though.

I love Bitcoin
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September 01, 2017, 08:03:32 PM
 #11

Why do you think there will be a correction? There is a very limited supply and high demand for Bitcoin. Earlier bitcoin varied more - but when big investors and ETF funds and wealth managers begin to take an interest in cryptocurrencies the price will probably increase dramatically. Also a growing number sees bitcoin as a safe-heaven instead of a weak dollar, euro, bonds or stocks.
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September 01, 2017, 08:28:17 PM
 #12

As far as i have known to the people here and i have learned is that by the end of September the price correction will occur or maybe at November 1st. It depends because there might be an split again to happen this coming November as the news is keep on spreading. This is the best time to buy bitcoin and be sure to watch the price chart so you will not gonna lose the chance to buy. It's a good time to invest if you can buy bitcoin in a cheap price.  Grin

rb26
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September 01, 2017, 08:30:18 PM
 #13

And how much could it go down? Any ideas? I bought myself a Bitcoin when it was around 2500 $ and I'm kinda angry at myself that I didn't buy another one.

Once the correction happens, will you guys buy more bitcoins?

A correction happens days after a very noticeable increase happened. About 10% or above. It could go down until it reached the same level it was before it pumped or above that level (most cases). The correction happens fast and if you are not aware of it, you might lose your chance.

I would buy if I have some to spare. But unfortunately.

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September 01, 2017, 08:39:42 PM
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I think 5,000 because everyone is talking about 5k limit for more than a month, and expected to reach at the end of the year

When reaches 5k, IMO people will sell some part to have some money to buy on the dip or to protect the money (fiat)
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September 01, 2017, 09:01:57 PM
 #15

At least Goldman Sachs has predicted that after $ 4,800 we could expect a collapse at any time. Merrill Lynch predicted a price of $ 1,300 as the maximum top for bitcoin four years ago.

Therefore, as long as these rascals continue to predict collapses with such "accuracy", we can rest assured that bitcoin will continue to grow despite the bold efforts of these looters to cause fear and new crisis as they have done before.
I don't think it's possible to accurately predict the price of bitcoin and how it will change; bitcoin is, and will always will be, an experiment. It's a rather special sort of asset unlike any other, and I think we've yet to get a firm grasp on what makes it valuable.

I think 5,000 because everyone is talking about 5k limit for more than a month, and expected to reach at the end of the year

When reaches 5k, IMO people will sell some part to have some money to buy on the dip or to protect the money (fiat)

Dunno why people would think that; not saying they're wrong, but I can't see any evidence leading to the fact that the ceiling before the crash would be around the 5k mark. There's also no reason to think people will suddenly dump at 5k either, that's pure speculation.

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September 01, 2017, 09:15:46 PM
 #16

Correction will happen soon after the RSI on a three day BTC/USD chart goes over 90. Right now on Bitstamp 3d RSI is 79 so we still have a ways to go.

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September 01, 2017, 10:33:23 PM
 #17

I have no ideea about how this predictions are taking place, i understand that Goldman and Sachs predicted a huge drop but if i remember right they got it wrong in the past. Nevertheless a little drop would only make bitcoin stronger because, like me, there are people who will take the chance of a btc low price and will invest...we will be back to 5k in no time and we would have doubled our investment.

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September 01, 2017, 11:01:55 PM
 #18

If Segwit2x goes wrong, you will see the price correction. Hopefully this will not influence bitcoin too much but it is a potential problem.

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September 01, 2017, 11:06:24 PM
 #19

I think there will be no price correction and it will pump till september. Then when there is no much time left to hard fork happens, people will panic and it will dump again.
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September 02, 2017, 05:22:38 AM
 #20

I think it is more like a panic selling rather than correction. The price correction and panic selling will occur when someone will sell a lot of bitcoin and if they will see a red bar on the chart then they will easily sell their bitcoins too because they don't want to get left behind and minimize their profit so as long as there is no manipulator in the market then the price correction will not occur.

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