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Author Topic: Is bitcoin undergoing a correction?  (Read 926 times)
lambomoonmoney
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November 10, 2017, 06:28:25 PM
 #1

Its down over $500 from yesterday and seems like its going to go down more. I hope not.
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November 10, 2017, 06:33:26 PM
 #2

I’m in about 500 bucks, dont have the stomach for this LOL. I can’t image being in hundreds of K.
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November 10, 2017, 06:35:27 PM
 #3

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

It's a correction long over due...
Let's see how low it'll go.
Some simple TA indicates next level at $6200

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November 10, 2017, 06:40:40 PM
 #4

yes because price rise more than 2000$ in short range so if correction stopped only to 1,000$ it will be very good
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November 10, 2017, 06:48:32 PM
 #5

So it begins. So buckle up and tighten your grip. Almost all currencies are going.

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November 10, 2017, 06:49:03 PM
 #6

Well yes.  A correction is generally regarded to be at least 10% down from the peak.  Considering that the price has dropped from the mid-7000s to the mid-6000s, it's now fell over 10%, so it's pretty much objectively a correction.

It'll most likely continue to go down, which is the importance of HODLing.  Personally I was selling as the price was rising rather than panic selling, but if you're in too deep into the bubble and you're worried about losing money, it could well be a good idea to cut your losses now.

You don't want to get caught up in a bear market if you've bought recently.

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November 10, 2017, 06:50:21 PM
 #7

Most currencies down today. Good be an opportunity to buy if you can hit at the bottom.

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November 10, 2017, 06:59:28 PM
 #8

Most currencies down today. Good be an opportunity to buy if you can hit at the bottom.

man I just bought some this morning. I feel like its gonna go down a lot more.
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November 10, 2017, 08:29:31 PM
 #9

it has to, the growth was much inflated with fork expectations, folks got ...emotional, cooling down now. hopefully will stop by 5k
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November 10, 2017, 08:37:32 PM
 #10

it has to, the growth was much inflated with fork expectations, folks got ...emotional, cooling down now. hopefully will stop by 5k
Unfortunately it didn't! Going down further below Sad
Don't sweat,this is just temporary,the prices will sore up once again like always.This is usually the phase after/before the fork and price should be stable after a week or so.Don't let the bitcoin cash confuse you,that is just another pump and dump scheme.


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cryptoDARO
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November 10, 2017, 08:44:40 PM
 #11

I think the price of Bitcoin can fall down to 5k levels and then stabilize around 5-6.5k and perhaps we will see another bull run.
But I'm not quite sure about the future of BTC as I don't see any upcoming upgrades so we may see some stagnation in price for a longer time than ever before in 2017.

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November 10, 2017, 08:47:15 PM
 #12

Yes, corrections are a good thing tho
lambomoonmoney
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November 10, 2017, 08:48:43 PM
 #13

man i just bought some this morning. I haven't traded for so long cuz i lost money and now I'm losing again. this sucks
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November 10, 2017, 08:54:09 PM
 #14

due to all the talks about segwit2x and the other forks bitcoin kept rising for a long time for far to fast. the increase in value was so high that even regular daily media who wouldn't care about bitcoin at all picked up the topic so more and more people got into contact with bitcoin over the past few weeks and decided to invest, because it was always going up. this was a short time where bitcoin got an extreme amount of attention from professionals as well as from regular people.

now, that segwit2x failed, the correction started. some people might be panic selling, i think a lot of regular people will, because they do not understand the systematics of bitcoin, probably don't know anything about segwit2x but will just see the correction and therefore sell in panic of more losses / less gains.
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November 10, 2017, 10:33:55 PM
 #15

This correction still acceptable and bitcoin price still high compared to last months. It's a chance to make a little profit because bitcoin price will increase soon.

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November 10, 2017, 10:38:29 PM
 #16

Yeah this correction might be a good time to buy as I believe the price will shoot past 7K again very soon.


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November 10, 2017, 10:43:33 PM
 #17

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

This correction was expected when the Segwit 2X fork was called off two days back. The investors who invested in bitcoin with the hope of getting free 2X coins, they are now pulling their funds back to invest in different assets or waiting for another suitable opportunity. The market cap has also come down to 109 billion USD from 124 billion USD due to this reason. However, I see strong support at 6500 USD level so I don't expect it will go down any further. It is just strengthening its base before taking the next jump, it's just a required correction and nothing else. It gives a lot of people an opportunity to enter in to bitcoin at a cheaper price.

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November 10, 2017, 10:43:47 PM
 #18

People want to move the price down in order to buy more, this is the main reason of why it has been going down so much during the last few days. It is going to go back to the top soon, but we had to face a little correction, it might probably go to $6500 again and maybe a little bit more down, but who knows, there is no way to predict how much money it will be.
But see it as a nice opportunity to get some bitcoins at a cheaper rate, this is not bad mate, you all know that bitcoin will always go up, no matter what.

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November 10, 2017, 10:44:59 PM
 #19

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

This is normal. If the growth is very fast, expect that there will also be a downward movement to follow. Let us just hope that this will not last too long. I think this will not go as down as $5,500 because the coming back of Bitcoin's upward movement might be in the next weeks of November. Bitcoin Silver will be coming this December. We will be expecting another Bitcoin rally by that time because of the free coins.

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November 10, 2017, 10:54:44 PM
 #20

BTC looks like its not gonna crash today. thats good news.
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November 10, 2017, 10:59:05 PM
 #21

everyone should relax! It's just a normal correction after such a big rise in that short time Wink

Somehow it's really funny, because everytime bitcoin is going up everyone is speculating how it will rise to the moon. However, when it has a little correction everyone is questioning what they said before and think they'll lose most of their money.
All the altcoins are going up and down with sometimes +/- 20-100% in shortterm, but somehow it doesn't get so much attention. It's just because Bitcoin got this really big value and even 10% of it is worth more than any altcoin so far.
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November 10, 2017, 11:05:37 PM
 #22

I think it has. When the price reaches another ATH at $7000, people never thought of it to be corrected since there will be a fork. But the fork was canceled so I think we are now seeing the correction.

BTC looks like its not gonna crash today. thats good news.

I do not know why it became a good news but I think altcoins and bitcoin is going down for some reason.



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November 10, 2017, 11:07:10 PM
 #23

correction can't down to 6000$ that is my speculation

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November 10, 2017, 11:11:55 PM
 #24

It has been more down, I think its due to the segwit cancellation aftermath. Sooner or later it will be back in regular pricing.

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November 10, 2017, 11:26:26 PM
 #25

yes, in my opinion. Corrections are generally thought to be at least down from the top. Considering the price dropped from mid 7000 to mid 6000s, and now down more than 10%, so pretty much to make the correction objectively.
could just keep going down, that's the importance of HODLING. so I'm selling because the price goes up from a declining sale, but if I'm too rash and worried about losing money, I'd better cut my losses right now.
everyone especially myself do not want to get caught in bear market if you just bought it.
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November 10, 2017, 11:27:50 PM
 #26

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

It's a correction long over due...
Let's see how low it'll go.
Some simple TA indicates next level at $6200
Never did reach below $6500 so maybe another one is to come to get closer to $6000.
Then it can pump up again quickly like it did earlier in the week during the last one.

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November 10, 2017, 11:30:41 PM
 #27

It is normal after the fork, it will keep dropping but slow at first as people are wondering if it is a serious correction. Then it will drop sharply as they realise that they need to sell quick otherwise all gains will be for nothing.
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November 10, 2017, 11:35:44 PM
 #28

It has been more down, I think its due to the segwit cancellation aftermath. Sooner or later it will be back in regular pricing.
Yes I think btc drops possible if segwit cancellation. The normal situation in btc after this correction it will be back the rising value. And it will continues be high, bitcoin will be on the moves again soon after this correction.

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November 10, 2017, 11:38:17 PM
 #29

Yes i think so, but for me it’s normal after hitting the peak but for sure it’s just a short period of correction. Well i will take this opportunity to get more bitcoin and you should do this also because bitcoin will surely pump again.

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November 10, 2017, 11:45:15 PM
 #30

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

Yes, we are now on a correction. Everyone is buying bitcoin cash now and with the fall of bitcoin there's a domino effect for other alt coins too except bitcoin cash. Normal correction, this is expected when bitcoin is pumping very quick don't think that it will last forever. And this is the opposite reaction of that pump so we are reacting according to the market value of a coin and the increase goes to bch for now.

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November 10, 2017, 11:48:15 PM
 #31

man i just bought some this morning. I haven't traded for so long cuz i lost money and now I'm losing again. this sucks
Hope you are following the news before investing,got the news that the proposed fork is canceled and expect the price to go down a bit after those things as people were investing heavily to get the split coins in equal share and never expect to see the price of bitcoin just rising all the time,accept these sort of correction too,hold on to your coins and you will end up in a profit.














 

 

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Ucy
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November 10, 2017, 11:51:23 PM
 #32

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

This is Cryptocurrency World for you. Prices aren't set on stone.
Bitcoin cannot always go up all the time. Don't expect too much from it. It's susceptible to volatility too. It has done really well this year. We need to be very grateful.
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November 10, 2017, 11:57:45 PM
 #33

Most currencies down today. Good be an opportunity to buy if you can hit at the bottom.

Almost everything will probably keep the downtrend for at least a couple of weeks with minor ups and big downs, I expect it will touch 4500 euro before we start the uptrend again.

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November 11, 2017, 12:05:10 AM
 #34

yes bitcoin will still price correction, as in the events before it there must be a saturation point of a price. there is a negotiation between buyers and sell to determine a reasonable price, but I still believe bitcoin will go back up in price after a correction
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November 11, 2017, 12:08:17 AM
 #35

yes it is.. now bitcoin is undergoing correction and we will see how deep it will be, even though bitcoin undergoes a deep correction i always believe bitcoin price could bounce back for create a new price record highs.

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November 11, 2017, 12:08:49 AM
 #36

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

This correction was expected when the Segwit 2X fork was called off two days back. The investors who invested in bitcoin with the hope of getting free 2X coins, they are now pulling their funds back to invest in different assets or waiting for another suitable opportunity. The market cap has also come down to 109 billion USD from 124 billion USD due to this reason. However, I see strong support at 6500 USD level so I don't expect it will go down any further. It is just strengthening its base before taking the next jump, it's just a required correction and nothing else. It gives a lot of people an opportunity to enter in to bitcoin at a cheaper price.

Yeah, I'm thinking it will go down to 6400 and then go back up a bit. I'm holding. I was hoping more altcoins would rally but they experienced a fall. I still think Litecoin is undervalued so I am going to put some funds into that then dump when they go up 20% or so and buy BTC.

Don't panic. Just HODL!

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November 11, 2017, 12:50:05 AM
 #37

Nothing unexpected. It was obvious that correction will happen. Segwit2x cancelled and people moving their funds from Bitcoin back to Altcoins. And now lot of money moving to Bitcoin Cash and their volume almost equall to Bitcoin.
Now it's question, when and where Bitcoin will stabilize. My prediction that it won't go bellow $6000.

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November 11, 2017, 12:58:27 AM
 #38

Its down over $500 from yesterday and seems like its going to go down more. I hope not.
if the bitcoin value goes down I think it's natural but I'm sure bitcoin will continue to rise its value in the future I believe with it I will still save and access bitcoin because I have to this day still get profit

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November 11, 2017, 01:10:48 AM
 #39

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

Most likely yes, the market is undergoing a price correction. Its now down to $6500 from the previous highs of $7000++. I guess everyone is not surprised to see the price drop as the Segwit2x anticipation, which drove the price to a massive bullrun is already postponed. Investors are shifting and moving their funds somewhere else, to altcoins and simply taking profit. I guess you bought bitcoin at high's, but don't worry and just stay calm and just hold on your bitcoin. This correction is also temporary and we might see the price rising up again in the next coming days.

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November 11, 2017, 01:32:34 AM
 #40

Wu is dumping Bitcoin for his Bitcoin cash, and when he pumped Bitcoin cash high enough, he'll dump them again for Bitcoin. or I could be totally mistaken as I'm just a beggar here, I don't know nothing about financial markets and ecosystem, I'm just sad because no body is sharing their new Bitcoin fork coins with us, BCH now has $16 billion marketcap, they pulled $16 billion out of their asses and now are back again to pull out more with a new name but the same people and the same boost mining capability.

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November 11, 2017, 01:36:57 AM
 #41

it seems that way. some predict this is going to be a very long correction for months. well let's see how it goes.

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November 11, 2017, 01:43:24 AM
 #42

This was bound to happen at some point.

If history is any lesson, it's just a matter of waiting it out for the next bull run.

Perhaps this might lift your spirits:

https://www.youtube.com/watch?v=XbZ8zDpX2Mg





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November 11, 2017, 01:51:48 AM
 #43

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

Yes a correction is happening now. We might see that bitcoin will touch 7000 again then go lower up to 6000

if bitcoin breaks 6000 it will slowly and surely reach 5000 mark on which is a good buy for me.


Exit bitcoin if you can. its not too late

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November 11, 2017, 01:59:37 AM
 #44

The ongoing price drop seems to be the beginning of the correction phase. Maybe this will continue for weeks and the growth towards the next ath might begin after the same. It's our responsibility to have patience and keep hold of the bitcoins without getting into the panic.

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November 11, 2017, 02:02:57 AM
 #45

6% decrease is nothing in the world of cryptocurrency. You see bitcoin 2x? That went 98% down real fast.
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November 11, 2017, 02:09:29 AM
 #46

The dump for the price of bitcoin is because of the cancellation of the fork that let the bitcoin cash shines its own and as you can see the altcoins are following the movement of bitcoin and it seems that bitcoin cash will have its time for its own in the next few days or weeks but in the long term, bitcoin will bounce back again and it will move up higher than the price of its recent all time high.

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November 11, 2017, 02:14:54 AM
 #47

meh.

10k by feb.

My prediction.
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November 11, 2017, 02:49:02 AM
 #48

Its down over $500 from yesterday and seems like its going to go down more. I hope not.

its all up in the air right now, courtesy of all this fork bullshit. this is a correction yes, but this is moreso a reaction. correction to me, with all this unexplained growth over the past year, is us readjusting back down to those previous levels. im thinking its going to start deadcatting at some point, esp if we have any more fork controversy in the near future. while its variable in other markets (eth is down, but some erc20s are up), the depressing is affecting the entire ecosphere

remember when people used to actually be afraid of forks? its like this shit is old hat now  Undecided

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November 11, 2017, 11:03:24 AM
 #49

I wonder what's the reason that altcoins are following the movement of bitcoin with some few exceptions. I had the impression there was concensus that after the fork Bitcoin holders who were just in for some free coins would head back into altcoins. Instead the capital is pulled out of the crypto market alltogether.
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