Snap back to reality

[sorrysteve1]

So in the last hour or two most major alts down 10-20% as well as bitcoin. I for one am not too disheartened to see this and am actually quite encouraged as it means there's still some sense in the markets. The rises we've seen in the last few weeks have been too much and the market has been too bullish and it's about time expectations were tempered. What do you guys think? Is this correction a good thing? Will it last or will we be back to a bullish market starting tomorrow?

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[RobbieDK]

Flash crash, through the door.

Welcome to crypto... everything which goes up, has to come down.
The support at 9K was amazing. This might be the biggest bounce back ever.

[sorrysteve1]

Flash crash, through the door.

Welcome to crypto... everything which goes up, has to come down.
The support at 9K was amazing. This might be the biggest bounce back ever.

It is the same with all things in life. I was watching the USDT-BTC market on bittrex as it all unfolded and it was incredible to see the price just tumble but then it reached a wall of buy offers at about 8700 usd that sparked the price to quickly bounce back. I wouldn't be surprised if it's the biggest swing we've ever had in a short time and also the largest hourly volume.

[Marvell1]

It could last for a long time but I think that this is just another market manipulation and whales will get up to 11k once again before the deep and long correction will happen.

[uncleduckerr]

So in the last hour or two most major alts down 10-20% as well as bitcoin. I for one am not too disheartened to see this and am actually quite encouraged as it means there's still some sense in the markets. The rises we've seen in the last few weeks have been too much and the market has been too bullish and it's about time expectations were tempered. What do you guys think? Is this correction a good thing? Will it last or will we be back to a bullish market starting tomorrow?

I too thought a correction was going to happen the last few days and it surely does seem that way for BTC at the moment. The rise up was way too quick and it was always going to come back down a little bit as for the future idk what it holds now. I think we may still correct a bit further for a few weeks here but the outlook for me in 2018 is good. I hodl what I have now because I can be patient.

[sorrysteve1]

It could last for a long time but I think that this is just another market manipulation and whales will get up to 11k once again before the deep and long correction will happen.

How deep and long of a correction do you think we might see? Wouldn't that be more of a bear market than a correction, do you have any price in mind you think we might see?

[BTCGOLD]

In my opinion it is a moment when price go down. It will takes a few days and Bitcoin price will go back to 11000 or higher. It's inevitable

[anasso]

in the 2013/2014 hype, BTC grows up to 1200$ and takes 2 years to down to 200$

i hope this time it will not take all of this time to correct. i hope correction will not taking more than 6 months.

[hamari76]

if my vision this snap seems to have a grip that can be reinforcing but I am not sure if this will last in the old amount.

[CaptainKid]

Was it not already the correction was predictable? at least partial. We will follow the further development of events.

[Falgorn]

Yes, the rapid growth of bitcoins for more than 11,100 dollars and an hourly decline to 10,000 dollars causes certain emotions and revival. If one looks at the price of bitcoins realistically, then too much of its detachment in price from altcoins is harmful both for bitcoins and for all crypto currency in general, as the probability of collapse and big panic in the market increases.

[TheAlchemist]

It could last for a long time but I think that this is just another market manipulation and whales will get up to 11k once again before the deep and long correction will happen.

Yes, the price of 11,000 did not last long today. Whales did not have time to sell all millions that they wanted before the fall. Need more time on top. But this is incredible .. 11 instead of the expected 10. Today I heard in the supermarket the conversation of two elderly grandmothers. "Well, bitcoin grows so much - you need to somehow buy it."

[tsaroz]

The increase is due to the surge in number of people and amount of capital invested and hodl in cryptocurrency.
But there's no sense in hodling forever for the people who were in for quick profit which they got.

[forcrypto]

That was a great opportunity to buy back in. Litecoin went down to $75 and got my order filled at that price. Happy about that. Bought back ETH as it went below $400. Hopefully the people who bought BTC at 11k didn't lose too much.

[thepo1m]

I think we will likely see the whole Cryptocurrencies marketcap hit $1 trillion soon, we are just scratching the surface when institutional fund start coming into the space then we will likely see the top 100 coin having more than $1 billion marketcap

[dodgrad]

 Better wait with purchases until tomorrow, maybe this is the end of the correction, but if not, it can be hard night. 

[RichardBTC]

Hi guys, what are you using to deduct that a corrwction is iminent? Everyone is saying correction correction.... No one can predict the btc market... I oersonally believe that bitcoin or crypro currencies are being invested in by alot more average people out there. The moms and dads of thw world are throwing money into btc and the "normal" user base is growing. This is a good thing, hopefully whales dump 10k coins and 10000 people buy 1 btc each... That gets the market diluted.

[withche.07]

Correction is supposed to happen as always. It is good thing. Noone loves the market filled with delusionals, seeking unlimited profit. My only concern is that correction hit bit later than expected, it may damage more people.

[HichemFetoui]

love correction 

[Raegorl]

So in the last hour or two most major alts down 10-20% as well as bitcoin. I for one am not too disheartened to see this and am actually quite encouraged as it means there's still some sense in the markets. The rises we've seen in the last few weeks have been too much and the market has been too bullish and it's about time expectations were tempered. What do you guys think? Is this correction a good thing? Will it last or will we be back to a bullish market starting tomorrow?

My thought process seing this dump is similar to yours. I just don't like seeing a market wide dump following Bitcoins correction, this isn't healthy at all in my opinion. And while bitcoin dropped 6% or so, most alts are down 13-15%+, this is a very telling sign...