Bitcoin's bubble is going to be corrected - Update #3

[tk808]

Update: As shown the correction occurred at roughly 20k on Bitfiniex, approximately 8k USD more than when this was posted. But the correction is occurring, just like 2013

Update #2

Now, we are entering a second bull-rush period, followed by potentially a third, before the steady recession. Bitcoin is nearly repeating the same pattern it did 4 years ago. History always repeats itself.

Update #3

This is my final update to this thread. The final drop-off before a steady recession is occurring. I couldn't tell you were the markets are going, but the correction did occur (or is ongoing), at this point it seems safe to say it will continue along the same trend as 2014. Some would claim it's because of the news revolving around Bitcoin (china, korea... etc), i personally say it's the natural order to these markets.

Note: I'm not using any tech analysis, this is just pure intuition/pattern recognition. It's best to observe Bitcoin's behavior in the past to predict it's future, then applying real-world tech techniques. This thread was for fun.

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[Nipperkin]

Welcome to Bitcoin, yes it already goes up and then crashes...remember when it went up from $.18 to $.65 ...then crashed down to $.20...then another time it went all the way to $120 then crashed down to $28...then it went all the way to $1200 and then crashed down to $200...etc...

[5ensei]

The question is how grand this correction is going to be! Most of us know it is going to happen, but what we don't know is what is going to be the trigger for this huge pop of the bubble. Could it be Christmas shopping or new legislation? Who knows

[Mister1k]

Welcome to Bitcoin, yes it already goes up and then crashes...remember when it went up from $.18 to $.65 ...then crashed down to $.20...then another time it went all the way to $120 then crashed down to $28...then it went all the way to $1200 and then crashed down to $200...etc...

Why you expecting the crash bro. Sure we will find the best growth in the price chart. We found the price going up from the past one enormously and it is being settled around the 12k plus in the chart now.
To find the crash in the chart, this is not a centralized currency or being control by the whale to make the changes by the share holders. This is how economical whales changes the share value in the chart. Here bitcoin is not controlled by anyone dude.

[fabioganga]

LOL! I've heard of this nonsense of "the bubble is going to burst" since Bitcoin was only worth $100.

It will indeed have a price correction (it's very much overbought today) but that's hardly a "bubble that is going to burst".

Live with it.... Bitcoin is HERE TO STAY and especially GROW STRONGER.

[tk808]

LOL! I've heard of this nonsense of "the bubble is going to burst" since Bitcoin was only worth $100.

It will indeed have a price correction (it's very much overbought today) but that's hardly a "bubble that is going to burst".

Live with it.... Bitcoin is HERE TO STAY and especially GROW STRONGER.

and those bubbles have busted every time, until there was a new major growth indication, mostly led by volume and etc. Those downfalls lasted many months.

No one here is talking about the longevity or the regrowth to new heights, we are talking about the current climate.

[renes]

That does not make sense at all, the most important question is if altcoins also fall   I think yes because they are also overbought now.

[Nipperkin]

It's all just perspective. Even if btc goes down 90% from here (from 13000 to 1300) we are still up from a year ago. You have to read "How I stopped worrying about price and learned to just love the technology."

[Ogunboy]

Really nonsense it will not crashed. People keep saying it will crashed everyday i don't believe that. All i know os that it will be here 50 years from now all i will say to you guys invest now before you cry later  

[Holla123]

I would not mind a correction as I want to buy a bitcoin at some stage. There is some interesting predictions for the future value of bitcoins. My focus is on ALTs but would be nice to have one bitcoin in the portfolio.

[imperatron]

What's missing from the graphs? The grand correction is coming soon.

I saw a lot of doom callers while the bubble from 1k to 10k USD. All posted some graphs with a huge spike and they said this is going to be the end And bitcoin just climbed more! Lets see how long this correction will hold on.

[fabioganga]

LOL! I've heard of this nonsense of "the bubble is going to burst" since Bitcoin was only worth $100.

It will indeed have a price correction (it's very much overbought today) but that's hardly a "bubble that is going to burst".

Live with it.... Bitcoin is HERE TO STAY and especially GROW STRONGER.

and those bubbles have busted every time, until there was a new major growth indication, mostly led by volume and etc. Those downfalls lasted many months.

No one here is talking about the longevity or the regrowth to new heights, we are talking about the current climate.

So, you are saying in other words exactly what I am saying my friend. What you are calling "all those bubbles have burst every time" were nothing else than price corrections.

That's what I also agree 100% will happen.

But "a bubble that bursts" is an entirely different thing.. it means a CRASH BEYOND RECOVERY, just like a literal bubble that bursts DISAPPEARS forever.

Hence, price correction? Yes, it will indeed happen as Bitcoin is badly overbought and all the indicators show that it is due for a correction.

Bubble bursting (as in "total crash beyond recovery" as explained above) ? No way, it's not going to happen.

[freedomsr40]

What if not? A lot of people are selling and expecting this correction, and if whales have enough appetite to eat them all - there will be no correction, to everyone's surprise.

[GrandBcn]

What if not? A lot of people are selling and expecting this correction, and if whales have enough appetite to eat them all - there will be no correction, to everyone's surprise.

Yes, I also see that many people sell at the top of the price. And I'm surprised that whales have such an appetite. If the price does not correlate, it will be another confirmation that bitcoin is something else that does not lend itself to any laws of the economy and the financial market.

[hase0278]

What if not? A lot of people are selling and expecting this correction, and if whales have enough appetite to eat them all - there will be no correction, to everyone's surprise.

There will still be a correction if that happens but it will be not that big of a dip if whales plan to buy all those sell orders when that times comes. Still, I think what OP has said is possible and bitcoin might at least go back to 3000$ because BITCOIN HAS BEEN ON A PROLONGED GROWTH PERIOD ALREADY WITH ONLY LEGALIZATION AND SOME POSITIVE NEWS AS SUPPORT and it is impossible for it to always go up and only have little corrections, it won't be healthy for btc if it continues like this.

[sylance]

Of course there'll be a correction or a crash... but I want to hear someone brave enough to say when.  Every free market has a rise and correction... so there's nothing insightful about warning of crashes.  People were saying bitcoin was going to correct at $5000, saying it couldn't get much higher.  Then at $6000, $7000, etc...

Show me someone who'll say, "bitcoin is going to correct in two weeks by 40%."  Now that is bold and insightful.

[tamango]

I think the correction, it there will be one in short time, will not be huge, demand is so high..... personally I buy (and then hold) everytime I see a decrease more than 5-7% for a day...

[CrowdFunder]

LOL! I've heard of this nonsense of "the bubble is going to burst" since Bitcoin was only worth $100.

It will indeed have a price correction (it's very much overbought today) but that's hardly a "bubble that is going to burst".

Live with it.... Bitcoin is HERE TO STAY and especially GROW STRONGER.

and those bubbles have busted every time, until there was a new major growth indication, mostly led by volume and etc. Those downfalls lasted many months.

No one here is talking about the longevity or the regrowth to new heights, we are talking about the current climate.

So, you are saying in other words exactly what I am saying my friend. What you are calling "all those bubbles have burst every time" were nothing else than price corrections.

That's what I also agree 100% will happen.

But "a bubble that bursts" is an entirely different thing.. it means a CRASH BEYOND RECOVERY, just like a literal bubble that bursts DISAPPEARS forever.

Hence, price correction? Yes, it will indeed happen as Bitcoin is badly overbought and all the indicators show that it is due for a correction.

Bubble bursting (as in "total crash beyond recovery" as explained above) ? No way, it's not going to happen.

When you talk about the economy and you say the bubble burst you don't normally mean the country will never recover, so I don't see why people think when someone says bitcoin bubble bursting should mean the end of it. It's more like saying the price will crash and the currency will enter a protracted bear market.

[Ermbc]

We already see last week a Flash crash 11k to 8.5k this not count?

[batang_bitcoin]

Let that bubble burst if you believe that bitcoin is a bubble. This has been said thousand times and look on where bitcoin is, still thinking that bitcoin is a bubble? Comparing the chart from few years ago? You can have that technical analysis and comparison but we had different thoughts about bitcoin. If bitcoin is a bubble from this years mid run it should pop but what happened, it didn't. So when it reached $14,000 , $15,000 - $20,000 - $100,000 - $1,000,000 it is still a bubble?