The BIG Bitcoin Correction Is Coming! ( Not Spreading FUD )

[Goosebump]

Hello everyone, I made a video talking about how this recent INSANE price spike will effect the market going forward. The purpose of this video IS NOT to spread FUD in any way, but to inform anyone who is new to the Bitcoin investment scene of the correction coming. Im sure many of us long term holder already know this.

https://www.youtube.com/watch?v=i_uCIIDjaP4

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[tosmartak]

It is normal to expect correction most especially after a huge bull run like this, but I would not expect it to be an extremely massive one anyway. Guess we will just have to wait and see. Nice to make and share the video, to at least make the newbies understand what may be coming rather than panicking when the time comes.

[EcoChavCrypto]

So you said that you are not spreading fud, but i watched your video and you are only spreading fud, it is a fifty-fifty?

Hello everyone, I made a video talking about how this recent INSANE price spike will effect the market going forward. The purpose of this video IS NOT to spread FUD in any way

This insane spike has only been caused because the real hype that bitcoin has been having lately because of the cme, wallstreet, japan, china, russia, and so on.
Maybe a lot of people are now interested in joining cryptos, maybe your grandma has invested all his life savings in here because he wanted to have quick profits.

There is a guy on the forum who invested $14,000 on bitcoin on the morning, and he has earned $3000 so far, so where is the spike in here? It only rised because of the speculation, nothing more.

Fud? Probably, but you are trying to warn everyone about the price, and that is nothing that we have to worry about.

I am not talking about that bitcoin will be 1000000000 dollars in a few months like a few people are saying right now, i am just being realistic. it is not going to crash soon, or not even during this week or the next one.

[Goosebump]

So you said that you are not spreading fud, but i watched your video and you are only spreading fud, it is a fifty-fifty?

Hello everyone, I made a video talking about how this recent INSANE price spike will effect the market going forward. The purpose of this video IS NOT to spread FUD in any way

This insane spike has only been caused because the real hype that bitcoin has been having lately because of the cme, wallstreet, japan, china, russia, and so on.
Maybe a lot of people are now interested in joining cryptos, maybe your grandma has invested all his life savings in here because he wanted to have quick profits.

There is a guy on the forum who invested $14,000 on bitcoin on the morning, and he has earned $3000 so far, so where is the spike in here? It only rised because of the speculation, nothing more.

Fud? Probably, but you are trying to warn everyone about the price, and that is nothing that we have to worry about.

I am not talking about that bitcoin will be 1000000000 dollars in a few months like a few people are saying right now, i am just being realistic. it is not going to crash soon, or not even during this week or the next one.

I tried to make it clear not to spread fear, uncertainty, or doubt in the video. The purpose of the video was #1 to praise this recent amazing run and #2 to warn new investors that corrections after these huge price spikes are common and to hold instead of sell as it goes down. This video really is not targeted at the more experienced crypto investor like yourself.

[thecodebear]

Didn't watch the video, not sure what kind of BIG correction you said is coming in the video.  If you said it is gonna go below $11k I would strongly disagree (and since you said BIG correction I assume you did say it would go below $11k). $11k-$12k was the base of this most recent pump after the last correction. Bitcoin always returns to that base. I expect a correction soon certainly, and I expect it to bottom out around $11k or $12k.

Between people being all hyped about Wall St, LN first test on mainnet, and Square expanding bitcoin integration there has been a lot of bullish news and hype this week. While a correction is expected I fully expect the price to continue rising in the near term. Though since that ATH hit all the way up at $19.6k or so it might take a few weeks to get back there assuming no more crazy outbursts.


I just got my mom and dad into buying Bitcoin over the weekend when the price was right around $10k. So they are very happy with their 50%+ gains in less than a week even after it dropped like $3000+ from the high today. My Dad even panic bought some more today when it was around $17k I think haha. But I told them to expect a big correction down to maybe as low as $11k in the coming days but not to worry about it as this is just the way Bitcoin always works.

[btcone111]

There are a huge amount of people who feel they are missing out... There are also a lot of people who got off the rocket before 10K. These people have loads of money waiting on the sideline. BTC will probably flash crash by 30% from here but then will rebound pretty soon to 20K

[richardsNY]

It has become a trend for people to call someone a fud spreader just because the other person thinks a correction is coming. It feels nice that some people here at least maintain a realistic view on this panic buying that's going on. It can't continue endlessly, and currently, people talking about bubbles start to have more right of speaking now. This increase isn't healthy anymore, and we're way past levels what this market should be hovering around in these circumstances (i.e. the market is heavily overbought). South Korean exchanges are now moving over the $20,000 level, which is beyond insane!!

[harizen]

I tried to make it clear not to spread fear, uncertainty, or doubt in the video. The purpose of the video was #1 to praise this recent amazing run and #2 to warn new investors that corrections after these huge price spikes are common and to hold instead of sell as it goes down. This video really is not targeted at the more experienced crypto investor like yourself.

In the first place, new investors should know that correction always have a chance to happened. I doubt they will just enter without any knowledge about price decrease, price dip and price correction. Since then, we all know that while bitcoin price is experiencing a crazy pump, it was always associated with a dump but we don't know how dip it will goes.

Also if investors looks for long term goals and they knows all the associated risks, then they can just hold their coins while the price getting down and add some into their stash to take advantage of it. What if the price will not rebound after it? I doubt it will.

P.S You made me as one of the counted viewers. Nice.

[Enjel]

I mean, to people who have even a little experience in trading, that is definitely fudding, since we all know that corrections must happen, and in fact big corrections (20% or more within some period of time) happen about once per quarter.

For beginners, I agree that it is important to teach them about price corrections, and not to panic, and to buy low sell high. For beginners, it is just common sense so they don't lose all their money when stuff happens.

Everyone here is fully aware that despite the awesome price run (I heard some guy bought 14K of BTC in the morning, and earned 3K already in USD), there will be a pullback soon. We are expecting it, but we are quite happy.

[Labrader]

So basically the OP hast 135 subscribers on his channel and opens the tenth thread this day with the same topic. It used to be that people had some weight before... weighing in. Not spreading fud, just choosing a clickbait topic title with big in caps.

[Goosebump]

I tried to make it clear not to spread fear, uncertainty, or doubt in the video. The purpose of the video was #1 to praise this recent amazing run and #2 to warn new investors that corrections after these huge price spikes are common and to hold instead of sell as it goes down. This video really is not targeted at the more experienced crypto investor like yourself.

In the first place, new investors should know that correction always have a chance to happened. I doubt they will just enter without any knowledge about price decrease, price dip and price correction. Since then, we all know that while bitcoin price is experiencing a crazy pump, it was always associated with a dump but we don't know how dip it will goes.

Also if investors looks for long term goals and they knows all the associated risks, then they can just hold their coins while the price getting down and add some into their stash to take advantage of it. What if the price will not rebound after it? I doubt it will.

P.S You made me as one of the counted viewers. Nice.

You would be surprised at the amount of people who are just googling how to buy bitcoin, going to coinbase, and purchasing 100-500 dollars worth of it without any investment knowledge or bitcoin knowledge at all. It is actually a pretty alarming number of people, around where I live at least. Also thank you for the feedback and the view on my video, hope to see you checking out my videos to come as well haha !

[Labrader]

You would be surprised at the amount of people who are just googling how to buy bitcoin, going to coinbase, and purchasing 100-500 dollars worth of it without any investment knowledge or bitcoin knowledge at all. It is actually a pretty alarming number of people, around where I live at least.

Yes, i'd really like to know how many and how you sourced the data. And also how you estimated the level of investment and bitcoin knowledge of those people.

[Goosebump]

You would be surprised at the amount of people who are just googling how to buy bitcoin, going to coinbase, and purchasing 100-500 dollars worth of it without any investment knowledge or bitcoin knowledge at all. It is actually a pretty alarming number of people, around where I live at least.

Yes, i'd really like to know how many and how you sourced the data. And also how you estimated the level of investment and bitcoin knowledge of those people.

About 15 people that I went to high school with have texted me this past week asking me how to get into bitcoin or telling me they bought some bitcoin on coinbase and don't know what to do with it. So judging from this information, I can come to the conclusion that if people from my area are jumping in without any knowledge, I am sure it is happening elsewhere too.

MANY people are invested into bitcoin that know little to nothing about it or how it works or the technology behind it, they just want to make money.

[DaMut]

correction is expected to be honest but right now it's not the time yet,
at least the dump will not happen until Dec 18,because we're waiting for CME group's listing on their futures.
how big it will be ?
we do not know about it for sure because we made a lot of move lately from $700 in january until today for more than $17.000.
but if we're looking at our current expenses that we need to spend if we want to mine it,
an ideal price should be around $5000~$7000 more or less(not really sure because the expenses can change at any time).
also we should know that something will happen with it again in the future,
i heard there will be another listing in Q1 2018 next year,
correction is expected but do not fear it too much because next year we may be can see this kind of movement,
because we got a green sign from other people until Q1 2018.
if you're a true believer,simply holding it will not make you any loses in the future.

[Goosebump]

correction is expected to be honest but right now it's not the time yet,
at least the dump will not happen until Dec 18,because we're waiting for CME group's listing on their futures.
how big it will be ?
we do not know about it for sure because we made a lot of move lately from $700 in january until today for more than $17.000.
but if we're looking at our current expenses that we need to spend if we want to mine it,
an ideal price should be around $5000~$7000 more or less(not really sure because the expenses can change at any time).
also we should know that something will happen with it again in the future,
i heard there will be another listing in Q1 2018 next year,
correction is expected but do not fear it too much because next year we may be can see this kind of movement,
because we got a green sign from other people until Q1 2018.
if you're a true believer,simply holding it will not make you any loses in the future.

I agree, also the mining difficulty was increased today if I am not mistaken.

[illinest]

Didn't watch the video, not sure what kind of BIG correction you said is coming in the video.  If you said it is gonna go below $11k I would strongly disagree (and since you said BIG correction I assume you did say it would go below $11k). $11k-$12k was the base of this most recent pump after the last correction. Bitcoin always returns to that base. I expect a correction soon certainly, and I expect it to bottom out around $11k or $12k.

It's important to recognize that different analysts are charting on different time frames. This analysis is mid-term. Your analysis is short-term. He's talking about the correction expected after the blow-off top occurs. In other words, the context is a temporary (mid-term) end to the bull market.

Yes, in the short term, price tends to confirm previous resistance as support, then continue upwards. But if you think that Bitcoin can continue like that forever, you probably haven't experienced a Bitcoin bear market before. Go figure: "Date Registered: May 21, 2017"

I just got my mom and dad into buying Bitcoin over the weekend when the price was right around $10k. So they are very happy with their 50%+ gains in less than a week even after it dropped like $3000+ from the high today. My Dad even panic bought some more today when it was around $17k I think haha. But I told them to expect a big correction down to maybe as low as $11k in the coming days but not to worry about it as this is just the way Bitcoin always works.

Sounds like you have reason to be biased.

I'm very bullish on Bitcoin in the long term, but there will be very painful corrections on the road to $1MM. The pie-in-the-sky attitude of newbies tells me that there is a lot of pain incoming. If you look at the 2011 or 2013 bubbles, an 80-95% correction after a parabolic rise is perfectly normal. We can't necessarily expect it, but if you think BTC will never experience downtrends, you're gonna have a bad time. Personally, I'm not selling any coins yet. I need to see a wide range on the monthly; we're not there yet. Needs $20k+.

Also, don't underestimate the extent to which institutional level futures markets can affect the spot market. People I respect have differing opinions on that. I'll just say, keep an open mind. The BTC market has always functioned in a way that separates coins from their holders in mad panic. Don't forget that.

[Labrader]

About 15 people that I went to high school with have texted me this past week asking me how to get into bitcoin or telling me they bought some bitcoin on coinbase and don't know what to do with it. So judging from this information, I can come to the conclusion that if people from my area are jumping in without any knowledge, I am sure it is happening elsewhere too.

Drowing broad conclusions from one's imediate experience is plain wrong. Those people know (or think) you are in the know about this subject and naturally are turning to you. To make guesses based on 15 people is hazardous at best.

MANY people are invested into bitcoin that know little to nothing about it or how it works or the technology behind it, they just want to make money.

That's another geekish mistake. They don't really need to know what's under the hood to use it properly. And also you can't possibly be in a position to know the experience of people entering the market now. Those that know simply haven't turned to you. Naturally only those that don't know have asked you, so you have a biased point of view.

Stop drawing broad conclusions from limited experience! And stop posting clickbait titles for the sake of gaining followers on youtube, it's not curteous to the rest of us.

[Goosebump]

About 15 people that I went to high school with have texted me this past week asking me how to get into bitcoin or telling me they bought some bitcoin on coinbase and don't know what to do with it. So judging from this information, I can come to the conclusion that if people from my area are jumping in without any knowledge, I am sure it is happening elsewhere too.

Drowing broad conclusions from one's imediate experience is plain wrong. Those people know (or think) you are in the know about this subject and naturally are turning to you. To make guesses based on 15 people is hazardous at best.

MANY people are invested into bitcoin that know little to nothing about it or how it works or the technology behind it, they just want to make money.

That's another geekish mistake. They don't really need to know what's under the hood to use it properly. And also you can't possibly be in a position to know the experience of people entering the market now. Those that know simply haven't turned to you. Naturally only those that don't know have asked you, so you have a biased point of view.

Stop drawing broad conclusions from limited experience! And stop posting clickbait titles for the sake of gaining followers on youtube, it's not curteous to the rest of us.

This will be the last time I go back and forth with you because it is bad for the threads discussion. Titling my video "A Big Bitcoin Correction is Coming" is not very "clickbait" at all. A big correction is most definitely coming, it might not be down to 7-8k, but there will be a rather big correction. So I am not sure if you are just hating to hate, but please take your negativity and petty claims somewhere else.

[yogg]

I agree that a big correction is coming. What goes up must come down.
If you take the Bitcoin all time chart and look to more detailed periods, you can see that it doesn't stat at "All time highs" for a long time ...
When, at what level, for how long, these are the right questions imo.

That isn't FUD. It's just another cycle. Rinse and repeat. This is how BTC rolls. 

[Enjel]

Of course there will be large drops on the way up.

That's fantastic - it just means more opportunities to buy low and hodl. This is a good thing.