Greed = Bearish, Long-Term-Investment = Bullish [Segwit2x cancellation]

[Pursuer]

Personally, i see this current pullback is just another one of those corrections that were bound to happen, regardless of forks or BCH. It's just a part of the process of initiating the next pump and so on, we've seen this with $2500 back to $1800 and up to $4000, $4000 back to $2900 up to $5000+ and so on.

we can't call this a correction anymore. I agree with the follow up about this being the same exact process which will lead to the next rally. we have seen it enough times now, it is clearly visible on the charts too if you zoom out to about a year at a time.
but all the previous speculations, at least what I said above was said for a normal situation without an ongoing attack against bitcoin. these attacks always change everything, intensify the drops and panics. but make up for good opportunities for lots of profit, BCH is not the only thing getting pumped these days, you can see how many altcoins are taking advantage and getting pumped.

fill your bags with enough bitcoin while you can ladies and gentlemen...

[d5000]

Historically speaking the group that has been causing the rally is obviously much bigger. Bitcoin has been going up since 2009, and at the price it is now, it is still very good considering where it started.

I agree that the price is still high, even $5000 would be a good price.

But how to know why these people that have caused the rally invested?

Since about $3000, price upswings have been related to hopes to get "free coins". It may be a simple correlation and not a causality, but I think a big group has invested in Bitcoin in those last 3-4 months with Bitcoin Cash, Bitcoin Gold and Segwit2x "free coins" in mind.

I for myself am bullish long-term, but in the mid-term I believe there could be a bear market (e.g. 2018-19). $6000, an important mark, have been broken now (that would indicate at least a short-term bear market), although it was at a moment with heavy speculation moves between BTC and BCH. So the signs are not really clear.

Taking everything into account, I think the question "will we see 7800+ prices in 2017 again" is still a 50/50 bet.

[pitham1]

Instead of having a target for BTC, I think it is safe to have a price target for BTC + BCH. I think the combined value still has a chance of hitting $10K. You don't need to invest in any other altcoin when you have the chance to invest in Bitcoin Cash.

[Wind_FURY]

Historically speaking the group that has been causing the rally is obviously much bigger. Bitcoin has been going up since 2009, and at the price it is now, it is still very good considering where it started.

I agree that the price is still high, even $5000 would be a good price.

But how to know why these people that have caused the rally invested?

Since about $3000, price upswings have been related to hopes to get "free coins". It may be a simple correlation and not a causality, but I think a big group has invested in Bitcoin in those last 3-4 months with Bitcoin Cash, Bitcoin Gold and Segwit2x "free coins" in mind.

It could be related to that but the main trend is telling us something else. Whatever it is, I do not know. Maybe it is because of Bitcoin's nature as deflationary currency combined with the increased demand for it.

Maybe there are bigger forces at work here that has not yet revealed itself. Drugs, money laundering and other illegal activities are still a big part of Bitcoin whether we like it or not.

I for myself am bullish long-term, but in the mid-term I believe there could be a bear market (e.g. 2018-19). $6000, an important mark, have been broken now (that would indicate at least a short-term bear market), although it was at a moment with heavy speculation moves between BTC and BCH. So the signs are not really clear.

Then that is good news for you. You will have plenty of time to buy more cheap coins.