This won't end well

[the_poet]

Look at the Daily Change column!

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[sgbett]

So legends. Such 'member. Wow.

[spazzdla]

Depends.. like in 1 year perhaps not, by 2025 I bet you it "ends" really well by not ending

[thejaytiesto]

This will end pretty well actually. The ones that will not end well are most of the shorters. For every 1 that nails it, 10 lose their shorts. I know people that shorted at 2k, 5k, 10k... well you can imagine how they are doing right now.

Will it crash? yes, but what are the chances we go below our entry points? If you have a strong hand and you aren't a total newbie that just entered the market, we can deal with an huge correction, as long as the floors keep getting higher, progress is progress. FOMO's happen, it comes with the territory. Just remember to accumulate when people start calling Bitcoin dead again.

[the_poet]

Depends.. like in 1 year perhaps not, by 2025 I bet you it "ends" really well by not ending

Yes, in the medium-long term things look good for BTC, but in the coming months, a STRONG correction is absolutely to be expected. I don't even want to think about all the newbies allured by the massive media exposure that poured most of their savings into BTC.

[DaMut]

there will be no end to this kind of movement because it's part of the game,
correction ? yes it will happen because everything that goes up someday will goes down.
i remembered a few words from friend of mine a while ago when i started my journey in this land a while ago,
he said 'do not believe what people says directly and always do your own research,usually whenever some people said about something like Fud or Shill.which mean the market soon will make another move,choose the opposite side from what people say to you'.

even if the price goes down so deep or going back to its own price when it's in january,
for me it does not matter because it's an opportunity for me to take and hold it for a while.
and i believe with the time,the demand will be increased and its price should be far from it.
so everything will be went well no matter what because it's the future.

[European Central Bank]

I don't have any sympathy for anyone throwing their life savings in right now.

Bitcoin has enough history to know what happens next.

If you can't spend a few minutes researching then don't come crying to anyone else.

[the_poet]

Personally, as a long time holder, I have no reason to fear what the near future will bring (unless BTC goes down in value by 99%, I won't be losing anything of my fiat investment). What I fear is the HUGE massacre that the correction will cause. I don't know if you have taken a look at Google Trends chart for Bitcoin recently. That huge spike that occurred in last few weeks will easily give you an idea of how many people got in.

[jtipt]

Look at the Daily Change column!

[img]https://i.imgur.com/YOda5OS.png[/img)

We all know what's gonna happen next. A price correction is bound to happen now.

[joinfree]

It doesnt mean that the price is going to crash or whatever you are thinking about, maybe a correction is probably going to happen, but i dont think that it will be soon.
Bitcoin wont last forever, and we all know that, specially me, i have a lot of funds in bitcoin and i dont know what would be of me if they all disappear or just crash just like it happened on 2013.

But i am sure, that it is not going to happen again, we all are possitive again except those who are always trying to spread as much fud as they can in order to make it go down.

Lets hope for bitcoin, and those altcoins.. i never trusted in them, only in ethereum and monero.

[Youghoor]

I have a friend who invested over 20000 dollars on IOTA yesterday when the price was $4,50 each IOTA.

Poor of him, now each one is below $3,50 and he is almost going to kill himself (just a joke)


But yes, the price is very sensitive at the moment, it is the perfect moment to make some arbitrage with a few exchanges, just look the prices on gdax, polo, bittreex, bithumb, etc, they all are different.

In polo the price of each btc is less than $16,500.

On bittrex it is $17,000 - gdax $15,900

[Febo]

What I am glad is to see how pessimistic all you are.  I am usually pessimistic but now most recently I changed sides.  Every time so right about now when Bitcoin retrace. There is so much money waiting to enter that they just hold the falling knife. What can happen is that Bitcoin go way over $100k.  We dont matter anymore. Wall street entered Bitcoin. I think it started like a year ago. Now they will start with manipulation. You will see.

[jc89]

Look at the Daily Change column!

[img]https://i.imgur.com/YOda5OS.png[/img)

We all know what's gonna happen next. A price correction is bound to happen now.

Not just a price correction, a strong one. This is to be expected since Bitcoin reaches a new all time high within just hours. I strongly believe that many people out there are getting ready to sell and harvest their profits. A correction, though, is still a correction. No matter how strong it would be, Bitcoin will surely recover from any time soon after.

[aso118]

I don't have any sympathy for anyone throwing their life savings in right now.

Bitcoin has enough history to know what happens next.

If you can't spend a few minutes researching then don't come crying to anyone else.

I have absolutely no sympathy either for those who want to gamble with their money. But the problem is that governments might use this as an excuse to try and clip Bitcoin's wings. You already have banks and other financial institutions lobbying hard with the government. Some bad PR might push the governments of the world into taking action.

[FiendCoin]

Funny thing is, all of us including me are expecting a massive correction but what if it doesn't happen? What if we have a minor correction and continue up throughout next year or even longer?

[DustyRah]

I am really hoping Bitcoin goes to about $20000 and then waits there for a week or two to gather up the clowns. Then I hope it drops its ass down to the $10,000 mark (which is already quite high) and polishes off the loose handed clowns.

Any investment is risky and anyone putting in more than 5% of their investment into Bitcoin alone is gambling and there are consequences. Of course the 5% may grow into 25% or more over time.

[btcone111]

Actually, with so much bearish expectation floating around, I think BTC will just correct by 20% then continue to rise.

[sgbett]

Funny thing is, all of us including me are expecting a massive correction but what if it doesn't happen? What if we have a minor correction and continue up throughout next year or even longer?

Then you'll be just fine, cos you HODL right

[d5000]

Four scenarios and their probabilities for me:
- No correction. (10-20%)
- Correction, but hype hasn't ended: 19.xxx -> >10.000 -> to tha moon (40K?). (20-30%)
- Deep correction/crash with panic and "people trapped inside the blockchain", followed by a real bear market: -> down to ~2.000-3.000 , stabilizing at about $5.000 (30-40%)
- Bitfinex/Tether conspiracy theory is true: -> down to $1000 or below.  (10-20%)

I am usually pessimistic but now most recently I changed sides.  Every time so right about now when Bitcoin retrace. There is so much money waiting to enter that they just hold the falling knife.

This is a good indicator for the "mania" phase of a bubble. Everybody thinks that the highs are the "new normal".

Wall street entered Bitcoin.

And in a couple of days they can short Bitcoin*

*in reality: an asset based on the Bitcoin price

[FiendCoin]

Funny thing is, all of us including me are expecting a massive correction but what if it doesn't happen? What if we have a minor correction and continue up throughout next year or even longer?

Then you'll be just fine, cos you HODL right

I held through the 2014-2016 bear 

[ImHash]

What OP is showing us is another sign for altcoin holders, Every sh*tcoin needs dumping and converting to bitcoin, You want correction to happen? If you have more than 20,000 you should sell them all to see a correction. I think we all know the risks, I knew the risks, I've stopped buying for months now, I have no idea who is buying, It's not me

[rickadone]

Depends.. like in 1 year perhaps not, by 2025 I bet you it "ends" really well by not ending

I really do not know why people are so agitated with the increase in value right now and even if anything ends up happening where we see the case of a huge correction, then we just accept and buy more in that case. There is really no point worrying over any issue when at the end of it all, bitcoin will not end and even if FOMOs are kicking in now and the value subsides, then at least we will know we had a pretty good run this year.

[btcone111]

Well - it looks like right now we have some healthy correction from the insane $18K top.
Really happy to see this as BTC needs some sizeable correction and consolidation for a more long term and healthy uptrend

[Biscutard]

What OP is showing us is another sign for altcoin holders, Every sh*tcoin needs dumping and converting to bitcoin, You want correction to happen? If you have more than 20,000 you should sell them all to see a correction. I think we all know the risks, I knew the risks, I've stopped buying for months now, I have no idea who is buying, It's not me

This is not going to end well if price going is going to happen since a lot of users will be dealing with it specially those new ones. They may look this as a bad side, but it is part of the game 'the faster you rise, the faster you fall'. So a great expectation of price correction will going to happen just watch it.

[illinest]

Depends.. like in 1 year perhaps not, by 2025 I bet you it "ends" really well by not ending

I really do not know why people are so agitated with the increase in value right now and even if anything ends up happening where we see the case of a huge correction, then we just accept and buy more in that case.

It's totally normal in markets to feel agitated with these kind of insane gains. I think it has something to do with the drastic change from what is normal. Markets range 80% of the time, so traders get very used to banking 10-20% gains and waiting out corrections. This type of nonstop insanity for weeks and months on end is a totally different animal.

I've experienced this many times myself in crypto markets, and I'm getting better at fighting the urge to sell insane bull markets. One of my new favorite analysts commented on this phenomenon the other day:

The reason I brought that up is because it’s a phenomenon of parabolic trends to “fatigue” the riders without actually doing any damage (losses). There is something about the price behaviour that frays nerves. Most exit here right before the big show. $BTC

[CornCube]

Four scenarios and their probabilities for me:
- No correction. (10-20%)
- Correction, but hype hasn't ended: 19.xxx -> >10.000 -> to tha moon (40K?). (20-30%)
- Deep correction/crash with panic and "people trapped inside the blockchain", followed by a real bear market: -> down to ~2.000-3.000 , stabilizing at about $5.000 (30-40%)
- Bitfinex/Tether conspiracy theory is true: -> down to $1000 or below.  (10-20%)

The 2nd one has the highest probability right now.

The 3rd one has the highest probability after we hit the $40k peak. But the bottom would be > $10k.

The last (4th) one [the Tether/Bitfinex collapse] may occur during the 3rd one, and may also include:

• the Tether/Bitfinex collapse
• a blood bath for non-compliant ICOs
• SegWit theft wherein the blockchain “steals” $billions of BitcoinSegWit “pay to anyone” donations
• skyrocketing transaction fees and excruciating slow confirmations on BTC

Trace Mayer Predicts Bitcoin Will Hit $27,395 USD By February 2018

OTOH, we're already way above the ~50% per annum average appreciation of Bitcoin and we are 5X higher than the prior peak in 2013/14. So we're already entering nosebleed terroritory, but perhaps we need to hit $10,000+ or some level ($50,000?) where my nose is bleeding profusely before we finally get the SegWit attack, the SEC crackdown on major ICOs such as EOS, and perhaps also the failure of TetherUSD, Bitfinex, and perhaps Poloniex also.

[richardsNY]

Well - it looks like right now we have some healthy correction from the insane $18K top.
Really happy to see this as BTC needs some sizeable correction and consolidation for a more long term and healthy uptrend

It's not really a correction. If we're talking about a healthy correction, then we more likely test the $10,000 level again, and as long as we hover around current levels, I just consider it to be normal market movements given current circumstances. It's clear that the market is taking a break waiting for what's going to happen with the futures that are less than 24 hours away from now. It's almost calmth before the storm, and it will not remain flat at current levels for long, that I am sure of. The entire market is alert and ready to either open or close positions. I cashed out some of my profits around the $16,000 level, where from this point it's waiting whether or not it was a well executed move.

[pooya87]

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

i mean look at these two screen shots!

• bitcoin rises, they fall
  
• bitcoin falls, they fall again this time harder
  

Look at the Daily Change column!

[bitcad4u]

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

i mean look at these two screen shots!

• bitcoin rises, they fall
  
• bitcoin falls, they fall again this time harder
  

Look at the Daily Change column!

Bitcoin system is digital currency and it fully based on all in computing online using gpu so it not a ordinary currency it's a digital currency and it's raises fall and fall and fall again is harder it's not really a correction it is talk about healthy correction then we more testly like the $10000 level again and it touch the $17000 and today rate was $13000 and in future it increased high only so no way to it's end .

[vv181]

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

i mean look at these two screen shots!

• bitcoin rises, they fall
  
• bitcoin falls, they fall again this time harder
  

(.)

Yeah, altcoins market is very tightly correlated to Bitcoin, the only way for Altcoin to go up is for Bitcoin to stay stagnant or very slowly uptrends/downtrends movement.

And I believe anything that goes up that fast will have a nasty crash, and the panic seller could help the crash nastier.

[illinest]

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

I'm pretty confident that Bitcoin will remain dominant in the cryptocurrency space. But not all altcoins are pump-and-dumps. And if you think that money will only flow into Bitcoin, I think you're mistaken. For every 40 or 50 coins that are launched, there is probably 1 or 2 long term protocols/suites that will become groundbreaking. Most 10,000x gains are not pump-and-dumps.

There are a lot of use cases that Bitcoin won't or can't address -- privacy, decentralized exchange, decentralized governance. There are entirely new methods for consensus that can, in time, compete with Bitcoin. I wouldn't write them all off, even if I think Bitcoin will capture more value than all of them in the long run. The market is diversifying, and I'm happy to go with it.

i mean look at these two screen shots!

That's like posting screenshots of Bitcoin during one of its corrections. Or during the entire 2014 bear market. You could also include screenshots during the insane bull rally in altcoin markets during the first half of the year.

These markets are cyclical.

[the_poet]

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

i mean look at these two screen shots!

• bitcoin rises, they fall
  
• bitcoin falls, they fall again this time harder
  

(.)

Absolutely. I have always thought of alts as parasites that live on the back of Bitcoin.

[CornCube]

altcoins are so funny. and i keep saying all of these alts are pump and dumps and they don't believe me. there are still so many people who think altcoins are the good for long term investment!

i mean look at these two screen shots!

• bitcoin rises, they fall
  
• bitcoin falls, they fall again this time harder
  

[…]

Agreed over any long enough duration that is true for virtually all altcoins, but altcoins can appreciate very fast w.r.t. to BTC at some junctures and that is when one can increase their BTC if they are very astute about trading.

When I said buy LTC at $6, some people thought that meant HODL it until $150, but we traded in and out several times including selling at $85, re-entering at $44, selling some around $60s, buying more in $50s, then selling some (not all) again $150 (at 0.01 BTC). (Some think and maybe correctly that they should just HODL because LTC at $7 billion mcap is still very undervalued w.r.t. BCH and ETH, but they have been decimated w.r.t. to BTC as LTC had declined from a 2017 peak of 0.022 to 0.005)

For example, on the recent high some were selling BTC for LTC, and they doubled their BTC if they traded back.

Trading alts has tax implications. See also.

P.S. given the potential gain for BTC from the current level is ~3X (or maybe 5X at an extreme to $100+k), the altcoins are likely to moon soon and gain on BTC, because most of them have 10+ X gains potential before the next crypto winter.

I'm pretty confident that Bitcoin will remain dominant in the cryptocurrency space. But not all altcoins are pump-and-dumps. And if you think that money will only flow into Bitcoin, I think you're mistaken. For every 40 or 50 coins that are launched, there is probably 1 or 2 long term protocols/suites that will become groundbreaking. Most 10,000x gains are not pump-and-dumps.

There are a lot of use cases that Bitcoin won't or can't address -- privacy, decentralized exchange, decentralized governance. There are entirely new methods for consensus that can, in time, compete with Bitcoin. I wouldn't write them all off, even if I think Bitcoin will capture more value than all of them in the long run. The market is diversifying, and I'm happy to go with it.

Agreed and there are two facets to this:

• Investing in alts when they’re microcaps such as when I was saying Byteball had a unique consensus mechanism when it was a $1 million mcap and then it went to $250 million mcap.
• Very special altcoin which would potentially exceed Bitcoin's mcap without killing it, might emphasize something other than the cryptocurrency and even we may already have an example.

Btw, I think decentralized governance is a lie.

Absolutely. I have always thought of alts as parasites that live on the back of Bitcoin.

Sorry but I must scold you for being egregiously myopic.

They grow the ecosystem! Just think how many people got interested in speculating on BTC because they were interested in speculating on an altcoin. All the PR on altcoins contributes to the snowball of market mass for crypto in general. Come on man! Not everyone are only interested in HODLing a better gold. Some are interested in smart contracts, decentralized blogging, Crypto Kitties, etc..

[btcbug]

They grow the ecosystem! Just think how many people got interested in speculating on BTC because they were interested in speculating on an altcoin. All the PR on altcoins contributes to the snowball of market mass for crypto in general. Come on man! Not everyone are only interested in HODLing a better gold. Some are interested in smart contracts, decentralized blogging, Crypto Kitties, etc..

This is such an important point!

[thejaytiesto]

Lol shorts got blown the fuck out again, specially those that were looking forward to short bitcoin below $10k hoping for a scare due future's market's opening, but oh what a surprise, it actually pumped near ATH levels.

Now let's see if this is now one of these double tops with a classic pullback or we actually go for a new ATH. Still many hours to go before the daily candle is closed, if we can close above $16667 I guess we'll aim for higher highs. Who knows if FOMO kicks in and we actually hit $20k before 2018.

[hugeblack]

Look at the Daily Change column!

after CBOE support it’s impossible to say the price will back into 0.

bitcoin will have "STRONG" crash next week/month not sure when but will happen.

This won't end well read theymos post

[btcone111]

Look at the Daily Change column!

after CBOE support it’s impossible to say the price will back into 0.

bitcoin will have "STRONG" crash next week/month not sure when but will happen.

This won't end well read theymos post

The link you've provided merely described some facts which I think most people are aware of (especially the earlier investors in bitcoin).
Having said that, it's always good to be reminded of those facts. thanks.

[ha_ham_bk]

Never end well ))

[iram1011]

Four scenarios and their probabilities for me:
- No correction. (10-20%)
- Correction, but hype hasn't ended: 19.xxx -> >10.000 -> to tha moon (40K?). (20-30%)
- Deep correction/crash with panic and "people trapped inside the blockchain", followed by a real bear market: -> down to ~2.000-3.000 , stabilizing at about $5.000 (30-40%)
- Bitfinex/Tether conspiracy theory is true: -> down to $1000 or below.  (10-20%)

Regarding 4th one, even if Bitfinex/Tether conspiracy is true which in fact is, price won't go correction that bad. There will definitely be a correction but price will stay at $7k-$8k. Bitcoin will find a good support at these levels or maybe more.

I believe the maximum probability is of 2nd scenario. As soon as the mcap touches $1 trillion. I expect people to exit or mark profit. But still correction won't be that bad. Bubble is building up but bubble tends to survive longer than we expect. A crash is inevitable but will take time.

[Wipro]

Lol shorts got blown the fuck out again, specially those that were looking forward to short bitcoin below $10k hoping for a scare due future's market's opening, but oh what a surprise, it actually pumped near ATH levels.

Now let's see if this is now one of these double tops with a classic pullback or we actually go for a new ATH. Still many hours to go before the daily candle is closed, if we can close above $16667 I guess we'll aim for higher highs. Who knows if FOMO kicks in and we actually hit $20k before 2018.

If that happens I am very much happy too. I have holded around 1 to 1.5 bitcoin in my electrum wallet that will give me a way to make more profit. Still I am keep on holding the bitcoin whatever I am making from the project and campaigning.
I have got information from my friend who is currently mining. He stated that some big investors from US gonna invest on bitcoin and related project and then its value will be grows to more than 5k USD in the chart.

[redsun114]

This will end pretty well actually. The ones that will not end well are most of the shorters. For every 1 that nails it, 10 lose their shorts. I know people that shorted at 2k, 5k, 10k... well you can imagine how they are doing right now.

Will it crash? yes, but what are the chances we go below our entry points? If you have a strong hand and you aren't a total newbie that just entered the market, we can deal with an huge correction, as long as the floors keep getting higher, progress is progress. FOMO's happen, it comes with the territory. Just remember to accumulate when people start calling Bitcoin dead again.

Just simple! No need to be raising unnecessary alarm about something that even if it happens, it is a good thing to get some pretty good profit at the long run. Shit happens and even if it ends up happening, we can deal with it, move on and then get the ball rolling again. I remember I did not want to miss out some years back and I was a FOMO, which still ended well right now despite everything everyone like the OP said.

[bitgolden]

Depends.. like in 1 year perhaps not, by 2025 I bet you it "ends" really well by not ending

Yes, in the medium-long term things look good for BTC, but in the coming months, a STRONG correction is absolutely to be expected. I don't even want to think about all the newbies allured by the massive media exposure that poured most of their savings into BTC.

The strong correction has always been expected and even if it happens. Some newbies who apparently have no idea what they are dealing with and doing some FOMO shit right now may end up panicking and selling at losses instead of buying more at dips.

At the end, most of them will still end up learning their lessons if they panic anyway and I cannot imagine how someone can pour all their savings. That would be crazy!

[Osarman]

I don't have any sympathy for anyone throwing their life savings in right now.

Bitcoin has enough history to know what happens next.

If you can't spend a few minutes researching then don't come crying to anyone else.

You have not seen cry yet bro! Be sure to have some topics on this thread in coming weeks. I would not want it to be like we are scaring anyone anyway and I would not blame any newbie for being a FOMO right now since no one really knows how long this is going to keep going. However, every reasonable person should know this looks like a bubble and putting their whole life savings? That would be some whole new shit level.