As we approach $10k, a correction/crash is coming.

[alyssa85]

I disagree. I think this bull run has a way to go. It won't till the last bear has capitulated - that means when we stop seeing threads predicting crashes, the top will have been reached. We're not there yet.

[EDWARD78]

I disagree. I think this bull run has a way to go. It won't till the last bear has capitulated - that means when we stop seeing threads predicting crashes, the top will have been reached. We're not there yet.

Im not suggesting the overall trend line will not continue to move upwards. But there will be major dips in it that in the moment will test peoples’ resolve. Dips that roil the entire ecurrency market, suggesting the bull run is over and the hysteria that will be made worse by the media’s negative, ‘we told you so’ reporting. And generally these dips are better understood by career traders, not guys worrying about fork drama. I’m only concerned because so much of what I read seems to be blind optimism, based on an admittedly amazing run, but mostly blind to the harsh realities of market trading ‘laws’ that will start dictating much more as the guys that trade on them throw their money in. Career traders are trained to see warning signs, because trading is as much a study of psychology as anything else. Charts are psychological predictors. There is another side to the elation on these boards and it’s panic and institutional money is aware. Just a friendly reminder.

[fulmetal08larz]

This is all part of the system and the volatile market of bitcoin, wise investors have seen this coming and are readying their cash to buy the fucking dip. The best strategy is to buy low, sell high; always stick to your goal and have your own strategy in investment. Bitcoin is going mainstream now, there will be bad news along the way and more panic selling will happen, but, it won't stop the growth of bitcoin. Wise investors never let their emotions affect their ways.

[sindikat]

Any correction will not force people to sell their bitcoins. Most users will keep the coins at any price. Among the users is very small percentage of those who can and sell cryptocurrency on the exchange. This means that bitcoin will continue his ascent to Olympus.

[BitMaxz]

I think more people right now are investing in bitcoin and most of the company are investing in bitmain that i think it would be hard to say that price will crash but expect that there are other holders will satisfied with the price and sell but if they seen the price getting low expect that there are other people will buy more bitcoin too.because they are waiting to buy cheap bitcoins ..
Maybe we will see a big crash if there is a big news about bitcoin that can bring people to panic sell..

[J. Cooper]

Why?

1- Study the past chart movements, they’ll tell the story. Major corrections are healthy and necessary.
2- People will take profits at the psychological cliff that is Bitcoin $10k.

You're probably right there. Even if you even have a little understanding of economics you realize there has to be some sort of correction down the road. No rocket science.

And MOST important:

3- Institutional (Wall Street) money WILL eventually take control of these price movements. And when they do, they’ll shake you guys out (the little guys who have no understanding of price movements, TA analysis, etc) and when you all sell after a major drop, they’ll happily buy your BTC. At that point, we’ll see MUCH LESS volatility, because ALL of these guys trade their hundreds of billions on chart analysis, which in turn creates much more predictable price movements. Herd mentality.

LOL. What a generalization, do you really think hard core bitcoiners will leave the game that easily? You're under estimating us boy. Lots of bitcoins are locked away for the long term. Sure, those who are only in it for the money will be more likely to give into the FUD and "herd mentality" (probably still a majority but not all of us).

Most of you guys here are concerned with forks, and pumps and dumps, and ICO offerings and whether it’ll hit $50k in 2018 when in reality, the really big guys are on their way to shake you the fuck out of the value YOU created. I think most of you will lose your asses. Do you know how to trade the way they do? Or did you buy a handful of coins at $2k and are up, not because of some continued investing geniousness but rather simple luck in buying into an asset that has seen only one overall chart trajection thus far? They’re not going to buy in at $10k, that I can guarantee. But they DO want in. And they need to get in, if Bitcoin is going to retain its value in a much more stable way as it weathers its scalability, usability and regulation growing pains. Exchanges know this, that they need societal integration, and that it won’t happen without big bank investment. That means the little inexperienced guy has to get out of the game.

WRONG. I'm yet to partake in an ICO. And again the people who do are only in it for the money and don't really care about bitcoin if they closed their position.
I was able to snatch up some at relatively low prices but that doesn't mean I just got lucky. I recognized the potential in the long run and pulled the trigger and bought. And I will hold the f*ck on for dear life if I have to. Let them come with their institutional money, my body is ready.

[erre]

[...]
like 30% or so drop only happen whenever there is some kind of drama going on. last one was the "bitcoin is dead and BCH will replace it because S2X is dead"-drama. the previous big one was the "UASF will split bitcoin and it will die"-drama. i don't know anything that is coming to us now though!
[...]

"Tether is fractional reserve fake money and bitcoin price was pumped with this fake money on bitfinex".

This is the next drama. Buy your popcorn.

[pjhom]

"Tether is fractional reserve fake money and bitcoin price was pumped with this fake money on bitfinex".

I worry about tether too.

[fabiorem]

I disagree. I think this bull run has a way to go. It won't till the last bear has capitulated - that means when we stop seeing threads predicting crashes, the top will have been reached. We're not there yet.

Just threads? Go to tradingview.com, only bear predictions there.

[richardsNY]

"Tether is fractional reserve fake money and bitcoin price was pumped with this fake money on bitfinex".

This is the next drama. Buy your popcorn.

At some point it might, but cuttent levels are far more than just a pump with fake money, like how MtGox back in the days did it. People should have ditched Bitfinex directly after the fake hack, but just because they got "compensated", people suddenly started to trust that exchange again, which is a shame. Current growth comes from all over the world, where Asia is the main engine powering everything. If Bitfinex happens to implode, it will definitely cause a major selloff, but regardless of what happens, we'll always be hovering around much higher levels than what we entered this year at.

[bitbunnny]

Corrections are nothing to be fear of. Because the price is rising fast that doesn’t mean that the big crash will follow. Maybe we will not reach 10000$ as soon as it looks at the moment but I don’t expect the dump to be dramatic. And even when it happens, if it happens, don’t do something emotional like panic selling, just hold your coins this correction moment will pass rather soon. And don’t believe everything you hear or read, there are too many so called Bitcoin experts these days.

[m1c0]

I don't really see a crash coming, maybe a pullback. But what I see is a extremely big resistance at 10k, which could take a few days to cross.
When it is crossed it can easily reach 11-11.5k the same day imo

[erre]

"Tether is fractional reserve fake money and bitcoin price was pumped with this fake money on bitfinex".

This is the next drama. Buy your popcorn.

At some point it might, but cuttent levels are far more than just a pump with fake money, like how MtGox back in the days did it. People should have ditched Bitfinex directly after the fake hack, but just because they got "compensated", people suddenly started to trust that exchange again, which is a shame. Current growth comes from all over the world, where Asia is the main engine powering everything. If Bitfinex happens to implode, it will definitely cause a major selloff, but regardless of what happens, we'll always be hovering around much higher levels than what we entered this year at.

I'm not talking about a 1000-ish apocalypse, but the usual FUD followed bt 30% dump from 10k to 7k, or something like that.
It's clear by now that the next trigger will be tether, how it's big is not important when it comes to spread panic.

Anyway, a bank run from bitfinex (and every other centralized exchanger) can only do good for the ecosystem.

[illyiller]

I'm not talking about a 1000-ish apocalypse, but the usual FUD followed bt 30% dump from 10k to 7k, or something like that.
It's clear by now that the next trigger will be tether, how it's big is not important when it comes to spread panic.

Anyway, a bank run from bitfinex (and every other centralized exchanger) can only do good for the ecosystem.

A 30% correction is definitely possible given the corrections we've seen this year. However, we are in full-blown parabola mode, so anything is possible. We could see less and less dips as we approach the top. According to Peter Brandt, we can drop to ~ $6800 without breaking the parabolic shape. Further than that, the whole rally is thrown into jeopardy.

I agree that Tether is problematic (and Bitfinex has other problems as well). But don't underestimate how long it can take to play out. Regulators tend to move slowly, and I suspect that regulatory or law enforcement action against Tether/Bitfinex will be the catalyst for Bitfinex's downfall.

[Shamie1002]

Prices pumped at its highest this year and we have experience some correction already but at the end of every corrections prices will continue to pump and that is what we should not miss when it happens. That is your your point here if I am not mistaken. Since there are frauds and other factors that indeed influences the price movements it will trigger fear in everyone.
And you advise them to do nothing.
Well some depend their whole lives with bitcoin which is not wise and we can not blame them. But if is true that in every dip we should buy more. It will worth more including efforts.

[Kingofbitcoin12345]

I’ve been in this forum for almost a year now and what amaze is everytime there is a significant increase in price.. A rapid increases actually,, a new thread will come out (w/valid points and good explanation about it) that a correction is coming.. This does really makes no difference at all,, for I observe the investors are well knowledgeable about it and panic selling is now minimized after those dip that rattled the newbies and gained experienced now.. So don’t think much about it,, that would be better..

[EDWARD78]

I don't really see a crash coming, maybe a pullback. But what I see is a extremely big resistance at 10k, which could take a few days to cross.
When it is crossed it can easily reach 11-11.5k the same day imo

Accurate.