Bitcoin correction?

[jaklis43]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

[grimesrhymes]

If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.

[Whibu]

It is true that bitcoin is still corrected, and after this obstacle many people believe that even if I bitcoin it will rise up to $ 40000 price even more.

[blue_nexus15]

If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.

According to wave chart analysis, bitcoin can be reduced to as low as $ 4k5. Thus, the cryptocurrency market will remain volatile. But the $ 4k5 bitcoin will be a big boost to the market especially altcoin because many new investors will enter the market when the bitcoin drops sharply.

[Cookies_N_Cream]

If it goes to 4000 I wouldn't think of that as a typical correction, the correction was down to 6k and I still believe that was an over adjustment. If we go to 4k or lower that will be after a prolonged bear period of many months. It's impossible to say with certainty but my feeling is that worst case scenario we might retest support around the 6k level before recovering once more.

According to wave chart analysis, bitcoin can be reduced to as low as $ 4k5. Thus, the cryptocurrency market will remain volatile. But the $ 4k5 bitcoin will be a big boost to the market especially altcoin because many new investors will enter the market when the bitcoin drops sharply.

I guess we should see everything in a positive way every dip because there will be new investors coming in times like this. If it does go down to $4k, its like the price when I've entered crypto last year because BTC was about $4.5 last September. Hope it won't go down to that rate though as $6k correction in my opinion is good enough.

[hugeblack]

• A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation.[1]
• A stock market crash is when the 10 percent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 percent, for a total decline of 20 percent or more.[2]

So it's Bitcoin crashing.
The supply and demand rules have made 10,000$ as a stability point.
Price can be restored to 4000 but we need very bad news [Bitcoin ban, Network fee,....etc].
Sources:

#1 https://www.investopedia.com/terms/c/correction.asp
#2 https://www.thebalance.com/stock-market-correction-3305863

[exstasie]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

I don't really think we're going there. But if we do, I'm aiming closer to $3,000 for the wick bottom. $4,000 area for the rounded bottom. Bitcoin loves to make Adam & Eve bottoms.

I want to see bears really demolish a bounce on the daily chart (not intraday) before predicting that kind of carnage. We're working on a 7th red candle in a row. Waiting on that bounce....

[Denker]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

Even the best analysts can not tell you where the bottom will be.
It's all a guessing game.
There are guys who were right and on point for a certain amount of time and suddenly their forecasts fail.
Don't listen to what others have to say. Maybe they're having a hidden agenda and you would be one of their "victims". Or they just too biased due to being invested to heavy or not being invested. So there is always a reason to call for a certain direction if it could be in your favour.
Better do your own analysis, especially here in the crypto space, which is full of sharks and shady charcters who just try to take your money in any possible way.

[clrpod]

4k is not a correction, it's a crash and it's probably not going to happen. Price seems to be fluctuating right now between 8.5k and 9.5k. We'll be back to 12k within the next 10 days unless there's something to cause another fall in investor confidence.

[Dagser]

• A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation.[1]
• A stock market crash is when the 10 percent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 percent, for a total decline of 20 percent or more.[2]

So it's Bitcoin crashing.
The supply and demand rules have made 10,000$ as a stability point.
Price can be restored to 4000 but we need very bad news [Bitcoin ban, Network fee,....etc].
Sources:
#1 https://www.investopedia.com/terms/c/correction.asp
#2 https://www.thebalance.com/stock-market-correction-3305863

Bad news like banning Bitcoin and such does not have a big impact on the price. Maybe the first news like that had some impact, but not anymore.
Multiple factors needed here. Maybe one more of the Mt. Gox big selling and something to refuse people from buying. 

[followmenot]

I think mt gox dumps aren't enough to kill bitcoin fuel. So I still see next stop as $10000 a bitcoin. We will return back to last month. Anyways lightning network is really needed now to fully speculate higher on btc price.

[WUUEX79]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

If nobody does a massive sale of the next stage I think $ 4.000 is an impossible pricing. But fortunately it will not happen again because 'Trustee' will.....

The Trustee (https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cash ) has enough sold btc&bch to cover creditors. After now there will be another court or meeting and final result will be publish for what do to other 166k btc&bch .

[exstasie]

I want to see bears really demolish a bounce on the daily chart (not intraday) before predicting that kind of carnage. We're working on a 7th red candle in a row. Waiting on that bounce....

There it is. Very nice intraday move:


Threatening a local top on the 15min-1h. It's important to keep an open mind here. Bulls aren't in control yet. But if we can secure the $9,400+ level as support and push new highs, then we've trapped a lot of bears. There was heavy selling below there = fuel for a rally.

[Johnyz]

4k is not a correction, it's a crash and it's probably not going to happen. Price seems to be fluctuating right now between 8.5k and 9.5k. We'll be back to 12k within the next 10 days unless there's something to cause another fall in investor confidence.

That’s true, correction should not that big. Btc is pumping again, hope that it will continue and finally break the resistance level. As I can see right now the volume are pretty nice, investors are buying back and we will see the price to pump again.

[BitMaxz]

That's impossible that the price of bitcoin will dump to $4k it might be OK if the price correction is around $7k to $9k.

And I think the reason behind the price drop it's because of panic selling because of FUD.

The bitcoin price correction was done last month.

Much better to focus on buying look at the bitcoin movement today more on buying than selling.

[batang_bitcoin]

No it won't go further lower than $4,000 or even will reach that price. The correction was done once again and the market is going up again so if bitcoin's price won't go further with $10,000 - $12,000 then we have to expect another correction which everyone should get used to it.

I think mt gox dumps aren't enough to kill bitcoin fuel.

It wasn't and will never be. They are not the only whale in the market but they gave a very huge impact.

[Biscutard]

• A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation.[1]
• A stock market crash is when the 10 percent price drop occurs in just one day. Crashes can lead to a bear market. That's when the market falls another 10 percent, for a total decline of 20 percent or more.[2]

So it's Bitcoin crashing.
The supply and demand rules have made 10,000$ as a stability point.
Price can be restored to 4000 but we need very bad news [Bitcoin ban, Network fee,....etc].
Sources:
#1 https://www.investopedia.com/terms/c/correction.asp
#2 https://www.thebalance.com/stock-market-correction-3305863

Bad news like banning Bitcoin and such does not have a big impact on the price. Maybe the first news like that had some impact, but not anymore.
Multiple factors needed here. Maybe one more of the Mt. Gox big selling and something to refuse people from buying. 

I might agree with you on that one but people will tend to panic selling if they read some FUD news and that's what the impact would effect immediately. Since there are people who do a short-term investment and those day traders. If something like Mt. Gox and Binance bad news would appear, it would really deal a big impact.

[Jating]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

So far the last floor price we have witnessed in $5K-$6K. And a lot have been saying that we will not go down the deep but bitcoin tested in however it bounce back immediately and we almost went as high as $12K.

So I saying that we can possible hit $4K but the thing is that its a good opportunity to invest bought more bitcoins. So its gonna be just a quick test and then enjoy around good recovery.

But most likely we aren't going on that level. Right now we are green and almost all the top ten altcoin as well. Its just that there are someone dumping bitcoin at this moment (Mt. Gox trustee) causing all this turmoil and putting to much pressure on the price.

[Reatim]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

I can't imagine bitcoin $4K anytime soon, unless there are really bad news coming that will cause the price to this low. I agree that the Mt. Gox coins has something to do with the recent dump but it looks like we are bouncing back again because investors have realized now that there is no negatives news, although we have the Binance attack, it doesn't contributed to slide we see because they are quick in their actions.

Everything as settled down. And $4K will not be tested but another march to $12K and even higher at the end of the month.

[Oceat]

Hey bitcointalk, i want to ask proffesional players in cryptocurrency world opinion about bitcoin correction, is it going at least to 4k$?

I can't imagine bitcoin $4K anytime soon, unless there are really bad news coming that will cause the price to this low. I agree that the Mt. Gox coins has something to do with the recent dump but it looks like we are bouncing back again because investors have realized now that there is no negatives news, although we have the Binance attack, it doesn't contributed to slide we see because they are quick in their actions.

Everything as settled down. And $4K will not be tested but another march to $12K and even higher at the end of the month.

$4k is too much for a price correction and it is not a price correction anymore, it is crashing already if that's happening but it will require some really really bad news. That people will end up panic selling every crypto they have and i already where it is coming but it's not happening yet so the price correction should be between the line of the previous price.