More than 5% decline from around $4,850 to around $3,950 low. This really shows the sign of serious correction at the moment. Although it Is a very good point for rational investors to buy more and hold pending when its value increase again.
The correction tools place due to the China ban of ICO coins recently . Due to which it went low of 4k and and then started to bounce bank again . Now it's about 4600$ back and probably if again we heard some bad news then the drop may be significant this time it seems . Else if there is some positive news around then it should be reaching 5k mark soon.
Looking from the point of the voluminous Bitcoin history, we can see and say that all of these value corrections or retreats upon reaching a certain historical high is just a normal behavior of Bitcoin. Lately, Bitcoin almost reached (in some exchanges it did) the $5K level and then the projected correction happened (partly because everybody is expecting it making it a sort of self-fulfilling prophecy).
Now, the value is steadying at the $4,500 - $4,600 arena and since there are no real good news that can be the impetus for the market to positively react to we might expect no big changes for this week and the next. And since November is coming with the scheduled fork we might see more volatility as the date is nearing.
We are then hoping that by 2018, things can get smoother for Bitcoin and it can be the banner year for all of the cryptocurrency ecosystem.
