Is bitcoin undergoing a correction?

[lambomoonmoney]

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

[1713306979]

1713306979

[JTPhotography]

I’m in about 500 bucks, dont have the stomach for this LOL. I can’t image being in hundreds of K.

[uslfd]

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

[Thiptiout]

yes because price rise more than 2000$ in short range so if correction stopped only to 1,000$ it will be very good

[zenrol28]

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

[Xavofat]

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.

[tora]

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

[lambomoonmoney]

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.

[monomix]

it has to, the growth was much inflated with fork expectations, folks got ...emotional, cooling down now. hopefully will stop by 5k

[Patatas]

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
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.

[cryptoDARO]

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.

[East7547]

Yes, corrections are a good thing tho

[lambomoonmoney]

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

[ratiobitcoin]

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.

[Zarbout]

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.

[ro2sf]

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

[avikz]

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.

[uszaty43]

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.

[Hallmader]

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.

[lambomoonmoney]

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