Crash or Correction

[mrjoy15]

A crash is a drop of about 30% or more. That would take bitcoin to about $7700. The price is around $9700 right now - so it's a correction, and it's consolidating between $9000 and $10,000. Which is fine. It went up just too fast.

Exactly. And it take over shortly. BTC has a lot of support around $7900 area. I think we could see a correction to that level for a day or two and then rocket back up. Maybe I'm proved wrong, lets see what happens.

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[MiladMax]

It was a healthy correction IMO

[Erkallys]

It is just a normal backfire. I have been predicting that yesterday. At any very sharp rise is associated a little downtrend to compensate. But price is holding strongly now, and I doubt we will go down that much.

[DustyRah]

I am buying at current prices and will not sell below $15k in future. 

And therein lies the genius of trading Bitcoin. Just HODL till you get the price you want. I am not sure there are other commodities where such a strategy would work but it will work for Bitcoin.

[harizen]

The price of bitcoin fell more than $1,000 in the span of about 10 minutes on the CoinDesk Bitcoin Price Index (BPI) today, just hours after the cryptocurrency set an all-time high above $11,000.[1]

2017-11-26 price was 8,200$

2017-11-29 price was 11,000$

2017-11-30 price 9,800$

Is this crash or small/huge correction?

Source  [1] https://www.coindesk.com/bitcoin-price-falls-1000-minutes-erase-24-hour-gains/

Take note also that by looking at 24h view on today, yesterday and the day before, price increase was established for about closed to $1,000 in the span of not less than a hour alongside with price decrease, like a roller coaster. Meaning the resistance was great at above $9,000 so how much more below it. Clearly a correction and not a crash. Why I say it as a correction? Since the bottom price reached didn't say for long, it's clearly not a crash.

And now same price movement is happening, playing with the margin of $500 or more increase and decrease. The good thing here is, we can see lots of green lights at around $9,000 meaning we can treat this as a new bottom. You decide.

[J. Cooper]

A crash is a drop of about 30% or more. That would take bitcoin to about $7700. The price is around $9700 right now - so it's a correction, and it's consolidating between $9000 and $10,000. Which is fine. It went up just too fast.

Exactly. And it take over shortly. BTC has a lot of support around $7900 area. I think we could see a correction to that level for a day or two and then rocket back up. Maybe I'm proved wrong, lets see what happens.

This certainly was just a correction and not a real crash. You need to keep in mind that bitcoin went from $5500 to $11,000 without a reasonably big correction so I think I would be more worried if bitcoin kept gaining momentum and thus going up.

[batang_bitcoin]

For me that is just a plain correction. Remember when we are getting through at $8,000? It went back at $5,900 right? I dont think it is a crash, when we say crash in my own definition there is a big slash to its current original price, mostly half of if. But with these correction it is not more than of it.

[ASHLIUSZ]

It looks similar to that it happens with each and every price increase. Once after growing to certain price point, it automatically falls back and generates momentum to grow further and reach higher value than that of the price from which it trailed downwards.

[Cherylstar86]

A crash is a drop of about 30% or more. That would take bitcoin to about $7700. The price is around $9700 right now - so it's a correction, and it's consolidating between $9000 and $10,000. Which is fine. It went up just too fast.

I think that's a crash actually because its really too fast to drop of its price. Maybe a corrections can be associated to that but for this moment that price is actually struggling to rise even higher its our very best opportunity to hold bitcoins. Don't care if fluctuations is ongoing but the important is you know how to handle the current situations and you can manage it.

[EastSound]

In my own opinion its likely a correction the price went to high within just 2 months. Probably it will go down in the next coming days people would be cashing out for profits especially since the holidays are coming in.

[Cacingkemi]

The price of bitcoin fell more than $1,000 in the span of about 10 minutes on the CoinDesk Bitcoin Price Index (BPI) today, just hours after the cryptocurrency set an all-time high above $11,000.[1]

2017-11-26 price was 8,200$

2017-11-29 price was 11,000$

2017-11-30 price 9,800$

Is this crash or small/huge correction?

Source  [1] https://www.coindesk.com/bitcoin-price-falls-1000-minutes-erase-24-hour-gains/

This is only a decline between one group and not a small correction,some have sold their assets but only partially and this will continue go to beyond 11K$ see current prices since this decline will continue to increase you should buy again now.Because a correction will not take place quickly like this.

[BitMaxz]

Honestly when i was awake yesterday i was so excited if what is the present price but i was shock to see that the price was hit $11k for few hours after hit 10k it continue to increase until 11k but after few hours i saw a large price down or  crash yesterday that i thought that the price can be increase back and hit $11k i lose the opportunity to make small amount of profit and exchange my bitcoin once the price was drop but i lose the opportunity.. and i saw the market that there is a group that can manipulate the price as i seen in the market i saw some other could buy almost 1k amount of btc or more or sell more than 1k amount of bitcoin in the market so i think there are people are holding a lots of bitcoin and use it for dumping when the price is increase too fast maybe for price correction..

[jinksters09]

More like of a correction cause day by day many more people are getting attracted in investing in bitcoins maybe the price was correct because the price of 10,000 USD was so sudden the rush for price indication was happening so fast which is why it is necessary for bitcoin price to be corrected in the cryptocurrency world.

[rjbtc2017]

Definitely a correction, earlier it touched $10K again, and now it's down on $9.7k , BTC have been rallying up too long and have been touching new highs, i think it is time for Bitcoin to rest on rallying and go back again. I'll speculate that it will continue/resume on rallying before December Second Week, the implementation and the launch of Bitcoin futures-- as the CEO said that they will list it on Second Week of December. We should not be panicking now, Bitcoin will recover within this week or next week, CME hype is not yet dying, more money will flow and more investors will buy Bitcoin because of it's low price today.

[Rahar02]

A crash is a drop of about 30% or more. That would take bitcoin to about $7700. The price is around $9700 right now - so it's a correction, and it's consolidating between $9000 and $10,000. Which is fine. It went up just too fast.

Agree, bitcoin price still above $9000 which is a high price since bitcoin has leapt from $8200 to $11,000 within 3 days.
It's small correction until the price drops back to $8200 again, and consider as a big correction if it falls less than $7500.
It's a crash if bitcoin fall 50%, below $5500. But, we won't see it happen I guess, who wants to sell bitcoin if they know the price will skyrocket in this month? Normally, it will work like that, and we will see what happens after bitcoin futures launched in this month.

[jtipt]

Seems very obvious that this is a correction. The price is just floating around 9k-10k, and I don't think it will drop below 9k. Anyways, a correction was expected after such a huge rise and if the price doesn't drop below 9k then this will be a great correction IMO.

[STT]

I am buying at current prices and will not sell below $15k in future.  

And therein lies the genius of trading Bitcoin. Just HODL till you get the price you want. I am not sure there are other commodities where such a strategy would work but it will work for Bitcoin.

Sounds too simple to me, complacency is what makes me bearish overall.  I dont assume Bitcoin experiences real growth, in any case crypto overall could grow with BTC a smaller part of that.   If efficiency in use lies elsewhere thats what I expect to happen.


Right now for price, I see it as quite a mild pullback relatively.   ATH is 416% of the Sept China ICO ban, the next level to that being as low as 8169 but thats normal with such rapid price movement.   To retrack and confirm pricing is fairly positive.

I drew in a downtrend from ATH and I'm looking for it to confirm above that.   I see it outside a channel but sideways and uncertain for the moment.   This matches previous behaviour I've observed after pullbacks, I wont assume BTC finished selling but sideways relative to a previous regular lower high movement can be a good base for future gains

[marseille]

Seems very obvious that this is a correction. The price is just floating around 9k-10k, and I don't think it will drop below 9k. Anyways, a correction was expected after such a huge rise and if the price doesn't drop below 9k then this will be a great correction IMO.

Yeah and price is moving slowly again so I don't think there is anything to worry and in next few days we may see again price going $10k and it won't go below $9k for sure so the best thing would be to hold our coins and see what price it achieves in next couple of days and depending on that you can take your decision whether to sell it or hold it longer.

[lienfaye]

As expected its a price correction after hitting the $11k value. Some short term investors who set a target price sell their coins when its on the peak value which also has impact of the price movement.

Wait for a few days or weeks and it will bounce back again with even higher value hopefully. Im seeing this moment as an opportunity to buy more bitcoin.

[cupic]

Corrections are generally temporary price declines interrupting an uptrend. Correction Vs. Crash.

A market crash is when the 10 per cent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 per cent, for a total decline of 20 per cent or more.

Despite the inherently uncomfortable nature of watching an account balance drop by 10% or more, market corrections can be healthy for both the market and for investors.