New user with a trading question

[d20dad]

I got involved in crypto several years ago when Dogecoin was new and I bought some as a joke (and wish I had bought Bitcoin then). I am just now getting lightly back into it. I don't have the hardware to mine, but am interested in trading and investing. My question is, with the downward trend since January 7, how far do you think the price will fall before stabilizing and gaining value back? Thanks!

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[ArkadiyDeliev]

I believe they are already gaining back the value. I really don't see bitcoin falling anywhere lower than $9000 to be completely honest. The news about the South Korean ban has already been proven to be fake, so investors that have panic-sold are slowly losing their anxiety and bringing the money back. In any way, this correction has been needed, else the price could crash even further if bitcoin continued to climb at such a rapid rate.

[sabbathhawk]

Hey there
Welcome back
You need to do your own due diligence, as much we have people here as much we got opinions.
In long run we are bullish in short - it's gambling

[Crytptohack]

I say watch the charts on a 1 hour and 4 hour time frames.  The definition of a trend related to price, is producing higher highs and higher lows (uptrend) and lower highs and lower lows (down trend).

Most of the cryptos have followed BTC and put in a V bottom yesterday. It's producing higher highs on the 1hr and 4hr charts so far, but not on the daily. 

Study up on technical analysis and you can easily see for yourself. I post TA on BTC a few times a week on the Steemit platform if your interested.

[Dudeperfect]

There was a huge rally in price recently that pushed the market cap of Bitcoin and other cryptocurrencies. Still, I will not call the post-rally fall a correction but yes,it will help Bitcoin to grow organically in the long run. If you are willing to invest in cryptocurrency then Bitcoin is still a good option but one should hold it for the long-term irrespective of the price movements taking place during the short term. Please do your own research before making any investment decision.