I always feel relieved when you have a good fall....how about you?

[jubalix]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

[TryNinja]

It also makes me feel good. When the price is too high, I'm always tempted on selling my coins because of the fall that may come anytime, and it's normal for most people to think more about profit than the technology itself.

I know that it sounds weird, but when the price goes down, I'm glad that I still have my coins and there is no more reasons to sell them. Do you think that makes sense?

[Bitcoinaire]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

I also agree that a nice, deep pullback is healthy for a strong bull market. Time will tell if this is a bump on the way to an ATH, but I think with all crypto hedge funds getting into the scene, along with general investor appetite, we'll be at an ATH before the year ends.

[pooya87]

no i become the most nervous i have ever been because i need to rush to transfer as much money as i can afford to my exchange accounts in order to buy more bitcoins before it is too late.

and the bottoms usually happen in a blinking of an eye.

i agree though, it is a good relieve of tension and hopefully puts an end to all the bubble talk.

[JanpriX]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

I almost feel the same way when this type of fall happens. It just provide me a realization that I can still buy BTC at lower prices and then will just have to wait for it to come back up to sell at a profit. Just always to take in mind to take profit when you think the price is too high. Bitcoin's price history tells us a story that when it hit ATH (or almost hit it), selloff will follow. Always.

[DaMut]

Yeah we should feel that way,
because if we're going straight to the moon without pull back i am afraid we will see another crash.
it's an economy cycle,they will press the price to get more and they will pump to get profit.
if we're going straight to the point that we're hyping,i am afraid the bubble will explode and it's very hard to recover.
i believe if something like that happen a lot of people will lose their money so badly and noone want to trade it anymore.
it's just matter of time when we will see another pump again which is will lead us to another ATH (I hope so)

[timerland]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

Well said.

I think that this dump actually saved bitcoin from a much more devastating correction that was coming as the end of the bubble. I think that this dump reminded people a bit that bitcoin is not going to go up forever, it is simply not sustainable.

We've seen a floor at $4000, and a quick recovery as soon as the floor was breached.

For me i think we are going to see btc float around $3800-4200 level for the next few days.

[soothaa]

Totally agree. Shakeouts are good. Temporary panic selling from those who are weak handed or do not understand what is going on, but for those of us with longer term goals and have a bigger picture in mind, it is great.

It resets strengths, lowers the price for lower entries, it is kind of like a nice rain storm, flushes away and almost starts fresh! So here is to a few days of screwing around finding support until we have a go at $5,000 again!

[MissionPhailed]

It depends on the movement of prices before the drop for me personally; a (too) rapid surge in value makes me kinda wary as this leads to a significant correction in most cases. I've gotten a bit suspicious in these cases as I've bought crypto during sharp rises (FOMO) several times and subsequently got burned.

Yes, I see the correction we've experienced in the last few days as a positive development.

[Youghoor]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

Well said.

I think that this dump actually saved bitcoin from a much more devastating correction that was coming as the end of the bubble. I think that this dump reminded people a bit that bitcoin is not going to go up forever, it is simply not sustainable.

We've seen a floor at $4000, and a quick recovery as soon as the floor was breached.

For me i think we are going to see btc float around $3800-4200 level for the next few days.

I think the same as you, but it $3800-$4200 i dont see it possible. It is almost at 4.5k right now, i think it will go up towards 4.7k and stay there for some time.
It is good when the price goes up, but it need to be stable at some point, people still need time to collect some money and be able to buy, i think it is good to give a chance to those people who still have not buyed any coin.

[Vaskiy]

Majority of the bitcoin users have such a relaxation, because after every price dumping there will be a price pumping with which the users try to make the profit out of the same. Everytime reaching an new ATH makes the users happy, but an internal panic always prevails. On the whole bitcoin is all about risk involved.

[Siren]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

Totally agreed. Weak hands have been shaken and strong hands prevail. It's also a perfect time for new faces that would like to get their hands on those precious bitcoin. That's why it's called a healthy price correction. Actually sooner or later we will see this kind of correction, however the Chinese announcement has really accelerated the situation.

But what do you know? Bitcoin is currently rallying again at $4500 so this bump has already been pass and I think this is a sign that we are going to go for $5000 or more in the coming months.

[jubalix]

feels dead cat bouncy.....i think another few days of 5~15% off would make it better in the long run.

[alyssa85]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

Well they do say that Markets "climb a wall of worry".

The bitcoin price rose too fast - from $300 to $4900 in just a month. So if it consolidates for a while at the current price, it will allow it to form a new base price on which to build further rises later in the year.

[HeRetiK]

It sort of gets rid of all the tension and makes it look more realistic, and wipes out a lot of the irrational actors...

I still don't know if the is a bump on the way to the ATH though.....

Well they do say that Markets "climb a wall of worry".

The bitcoin price rose too fast - from $300 to $4900 in just a month. So if it consolidates for a while at the current price, it will allow it to form a new base price on which to build further rises later in the year.

Definitely.

The current price levels still need to sink in as the "new normal". Knowing Bitcoin though, it won't be long until it tries to make another break for USD 5k,-. Question being, where we'll go from there. Breaking through too soon could lead to an unhealthy mania. Failing to break USD 5k,- could turn the sentiment bearish and lead to a reversal.

[Denker]

no i become the most nervous i have ever been because i need to rush to transfer as much money as i can afford to my exchange accounts in order to buy more bitcoins before it is too late.

and the bottoms usually happen in a blinking of an eye.

i agree though, it is a good relieve of tension and hopefully puts an end to all the bubble talk.

Well if you would always have a little bit of cash on an exchange of your choice, you wouldn't be in that situation. Just a few hundred bucks. When BTC dips, you buy and done. You may not have bought for several thousands this way, but at least you bought some. And then you can still transfer some bigger amounts to an exchange and buy if you think the price is worth it. It also lowers your average buying price this way.

[Blamsud]

no i become the most nervous i have ever been because i need to rush to transfer as much money as i can afford to my exchange accounts in order to buy more bitcoins before it is too late.

and the bottoms usually happen in a blinking of an eye.

i agree though, it is a good relieve of tension and hopefully puts an end to all the bubble talk.

Well if you would always have a little bit of cash on an exchange of your choice, you wouldn't be in that situation. Just a few hundred bucks. When BTC dips, you buy and done. You may not have bought for several thousands this way, but at least you bought some. And then you can still transfer some bigger amounts to an exchange and buy if you think the price is worth it. It also lowers your average buying price this way.

It's always good to have a back-up we shoyld not fully rely that btc will be at top always, it will fall but surely we rise. So we should be prepared when falls happen so we don't need to panic

[bamboylee]

Of course because it opens up opportunity to buy more bitcoin and other cryptocurrencies. As long as it is not a crash, a dip every now and then is a healthy opportunity to the market.

[talkbitcoin]

feels dead cat bouncy.....i think another few days of 5~15% off would make it better in the long run.

"dead cat bounce" is when something is dead and falling but on the way down it comes back up. do you think bitcoin is dead and will continue to fall down? because that is what a dead cat bounce really means!

for now bitcoin may fluctuate a little but it won't be a 15% drop that would suggest price can fall down to $3825 from $4500 which is impossible. the lowest it may get is somewhere around $4250

[iamTom123]

It also makes me feel good. When the price is too high, I'm always tempted on selling my coins because of the fall that may come anytime, and it's normal for most people to think more about profit than the technology itself. I know that it sounds weird, but when the price goes down, I'm glad that I still have my coins and there is no more reasons to sell them. Do you think that makes sense?

It does makes good sense actually in light of how Bitcoin is behaving historically. Bitcoin has had so many dips and ups and I think that only newbies would be crying a river whenever there would be some corrections happening. The recent news in China was a big factor why Bitcoin got into a big correction days ago but look at it now...Bitcoin is back on the action and is rising again just proving that it is really resilient and it was just implementing the necessary dips so that a big bubble can be avoided.

Newbies can panic anytime they hear that the value is making some retreats and then they convert their Bitcoin either into cash or other coins...only to find out later that it is now back to the same level where the holder left off. I once experienced that feeling and I have already learned my big lessons well.

I will "hodl" mine and I am happy with it.