Long awaited Bitcoin correction(+)

[xelaxin]

Then how will you explain what is happening now?
I dont think there is a thing like a correction. There is none. It is only demands that will happen and will always be.
There will be an increase because of the fork and maybe your speculation might be correct after that. They will all sell it afterwards or if ever, there will also be a chance they will stay if they are that strong with their trust to bitcoin.

I ever it drops that is a sell not a correction.

my imho - it is peak before monday, when cme futures will open. than will be the same thing - new comers on the cme will buy btc and short futures with hedge intentions. it is what is happens now and it is why volatility so low

[xelaxin]

https://twitter.com/tetheralreserve/status/941308766653505536
 

[dominikas18]

Everybody thinks, that Bitcoin is "to the moon"-only asset?

Nope I tend to agree with the analysis you put forth in your first post and I too think there will be a similar correction. I thought however it would already have begun by now but I think perhaps it is waiting on the CME launch of futures which I believe is the bigger set. Will be interesting to see what happens after Dec 18th I know I am ready for either direction.

Agreed. We should look after Dec 18. Bitcoin has been consistently settling around $16K-$17K lately after CBOE bitcoin future contracts. So it would be really interesting to see if this can be maintained after Dec 18 or a price correction or even crash will happened. Let's see how it goes.

But personally, I think that all this futures contracts seems to lessen the volatility of the market. If you have noticed it. lately there's no wild price swings, it will always stays at the range of $16K-$17K at the end of the day. So me thinks that this is cause by those financial institutions getting into bitcoin now.

Completely agreed, imho it is main purpose for the futures - price manipulating with less real fiat supply, and volatility control
It is just incredible that just one future, with not so big volumes, control Btc market with all his volumes...
My opinion that money now flows to the owners who will put some of their new maded capitals back into crypto world, but it will be another coin, and, as there will be much more fiat on the market than was some years ago for bitcoin, everything will happen faster harder scooter;)

There is obviously an example of CBOE futures launch on 10 December, when Bitcoin made one of the largest growth in % in 5 minutes time, I think the same will happen upon CME launch. I have a quick video proving my point, would be glad to hear your feedback:
https://www.youtube.com/watch?v=JsR9N-TDBWM

[Koontas]

I can not see a real Bitcoin correction. All looks like we will leave parabolic mode and enter ultra parabolic mode soon.
If BTC will make hodlers a 25k USD present for XMAS there will be much altcoin blood.

[xelaxin]

Now, i think, very good time to open short positions, based on TA, frame H1, RSI, Stoch., ema telling that market is overbuyed, and futures in monday. let's see

[Slimdaddy]

I can not see a real Bitcoin correction. All looks like we will leave parabolic mode and enter ultra parabolic mode soon.
If BTC will make hodlers a 25k USD present for XMAS there will be much altcoin blood.

Bitcoin will definitely undergo a correction. Remember the last bitcoin correction from the $1500 bull run? That's how it's going to be. Nothing goes up forever. I believe bitcoin is still going up because people want more money for Christmas. Once that has been achieved, money would flow outta bitcoin.

[cryptoblackhat]

Up until now, I was thinking that any correction coming would be fairly minimal. Like a correction to 12-14k at the lowest. Mainly because of the huge support from merchants and institutional investors that's starting to build momentum behind the currency.

But the BTC transaction fees have been so high lately that it's changed my mind. Now any new users who want to sign up and send money (e.g. to pay for something with Bitcoin) are going to have transaction fees in the $10-$20 range, and a transaction that takes hours to finalize.

This is a pretty poor experience, and will probably detract from a few new investors signing up with simple sites like Coinbase hoping to get in on the trend. It's why Steam dropped support for Bitcoin transactions recently. If we see a few more major entities dropping support for Bitcoin it'll have a significant short-term impact on perception.

Based on this, I wouldn't be surprised to see a more major correction until the transaction fees (and confirmation time) improve which will help ramp up mainstream adoption again.

[xelaxin]

One more 100'000'000.00 USDT comes to Bitfinex.. Injection... It is crazy, lads, if it is a bubble, with no real dollars behind - it is will be disaster for BTC and for all crypto world.. Biggest scam in the world

[xelaxin]

Take care, guys, very big possibility that btc will hit 19500 again and then will go till the 17..  Or will drop from current position

[Pamadar]

Take care, guys, very big possibility that btc will hit 19500 again and then will go till the 17..  Or will drop from current position

Long hold will help us to lessen our worries mate, for sure those who's trying to do some shorting will just risking their money
as we all knew that bitcoin will bounce back after some correction and it will jumped high much even more.

[aar0ntan]

no correction until bitcoin hits $22k

[vicvicto17]

I think bitcoin correction is what we are experiencing now. right now alts are pumping i think 22k is the next target of bitcoin. biggest support line right now is $17k.. let's wait for a good news for bitcoin

[piporipo879]

I have been waiting for a stronger correction for a while now but it just doesn't seem like its going to happen, so I'll have to settle for a different price than I expected

[Etemind]

no correction until bitcoin hits $22k

I think so and I am very bullish that it will reack $25,000 dolalr before year ends .

Now, bitcoin just touch the $20,000 dollar mark and seems having a consolidation already. Wait for several few days and bitcoin will be on fire again. So much fork and good news are clogging the mainstream media, hoping it will turn into bitcoins advantage.

[Oasisman]

The Bitcoin touched new max, the news about CBOE Futures - is Fact now. There is no new information about Tether huge cap. And loooks like double top on Bitcoin chart is drawing now.
My opinion is that correction will be achieved in the range 8-12 and then big daddys will open new long position with target 25-28 before new year.
What you say?
BTC

With the continues increase , everyone is expecting the big correction but it seems like its not gonna happen, not this year but maybe next year.
That 8-12k is too deep for the correction when you make a basis with todays price. Lets say 15k is more likely with a minimum of 14k and price back up again two times. But what if the correction that we all waiting for to buy in already happened? When the price decreased to 13k last week?  This is gonna be another regretting point for anyone whos waiting for the dip LOL.

[blackwidow7]

The charts shows clearly signs of overheating. Look at the high flagpole on the 6 month chart of BTC. And in 3 weeks another 2x (from 9k to 19k today). And this is not the only sign of overheating: Look at the newspapers, the TV, to the people in your life. Everybody is chatting about bitcoin, a loooot of people are entering and risking their savings. The big ones will take profit at one certain point and get richer than before. It use to happen in normal stocks and it will in cryptos too.

I am curious what is happening with altcoins, when bitcoin falls. Until then I am taking profit and wait for the correction. And if it needs 1-3 months to come. A big one will come. And for this case I have made a lot of money that will be invested again.

CU in next year (probably?)

[hughjays77]

What you say?

I'm more than two months old waiting for a bitcoin correction... This huge growth needs some "pause" to be sustainable. Otherwise, I believe that there will soon be a big dump (although this crypto-world is very special and unpredictable).
I just hope that the Christmas passes quietly, without any sudden shock.

[xelaxin]

I'm thinking of USDT, they printed more than 100'000'000.00 USDT just days before today, day when cme futures will be open for trade. I am not sure that this game is fair. And, with big possibility, that it will be linked with correction on the btc price - at least, many of new comers will just buy real btc, and open short positions in the furutes, to hedge. And in the momentum, it will be looks like falling futures, and it is will be like ignition for the short-term sells across markets. Correction itself must lasts for few days, because one time hit of the bottom is not a correction, it is just volatility. Correction means psychology, not technical drawings on a charts
i started this thread, as my personal wish to warn community about game they are now in. Btc comes to real world, and it is really matters, so long way from the start. And just buy and hold startegy now can be not so safe as before. Do not use this as instruction to do something, i'm trying to ask people to think a little.

[mafostedu]

I dont think that there is going to be a correction so far, the price touched more than 20k and it has already been dumped to less than 18k, but it is now slowly recovering.. probably more than 19,2k, it has been some minutes since i dont check the price. but no ,there is not going to be a new correction again.

[xelaxin]

I dont think that there is going to be a correction so far, the price touched more than 20k and it has already been dumped to less than 18k, but it is now slowly recovering.. probably more than 19,2k, it has been some minutes since i dont check the price. but no ,there is not going to be a new correction again.

If we will take a look on the 1week chart of the btc all-time, we can see, that there was no real corretion at all since start, there is up-trend and we see usual price moving like steps. Real, convincing correction, will be looks like down-trend for some-time, just like a mirror to the current price chart. It must go through minds of competitors, sale, setting on the new levels, than go back and further, it is good. Never stopping growth - it is buble signature. It is what i'm trying to tell