Will Bitcoin will correct back under $10k or are 4 digits gone for good?

[STT]

3 digits is possible in a sell off, its just the chances are below 1% right now so people say impossible because they like the odds of buying anywhere close to that but its possible.    The reason I say that is not to be negative especially but just I believe there is alot of shock factor available in finance news and that could cause some to oversell.    Any forced selling can drastically alter sentiment shorter term, we dont have that right now and also it would likely need to be a series of hard shocks and theres multiples ways that can happen.

Anyway the question is 4 digits and I think when considering various time frames that would be more normal then expecting only 5 digits.    We did get the sell on the graph I posted above, but only down to the rising channel trend line and its back up

[onrise]

are 4 digits gone for good?

No

We are in 5 digit mark and would get stabilized in 5 digit mark soon. it has achieved after long time and will grow as demand will continue to rise in coming time. It is a good investment time as well in order to grow from here.

[gentlemand]

We are in 5 digit mark and would get stabilized in 5 digit mark soon. it has achieved after long time and will grow as demand will continue to rise in coming time. It is a good investment time as well in order to grow from here.

It's gone up in a pretty much unbroken manner for several weeks in a row. That's not regular behaviour so don't expect it to have a nice relax doing very little for a few months when it runs out of steam.

It could be the beginning of something considerably bigger, or not. I wouldn't act like anything's in the bank whatever happens.

[South Park]

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

I doubt it, the price has been growing for months now and while that is a good thing I am not sure we are going to get a stable price at 5 figures, it is possible a correction will come during the next months that will leave the price of bitcoin between 7000 and 9000, which is still a great price when we consider the huge lows we saw this year, but if I were to give a prediction about what price we are never going to see again that will be 3000, to me anything below that is probably never going to happen again.

[serjent05]

I believe a correction is inevitable but it won't happen soon, unless the one who dump 25k BTC strikes again for profit that will trigger a crash in BTC price.  If you remember a sell off of $200million worth of BTC that makes price plummet below $8k. But feel that is unlikely for BTC to have a correction this early because it just had it retracement this previous week.  Though I am in doubt whether Bitcoin will not visit the 4 digit again.  Remember 2017, Bitcoin goes up as high as $20k but it goes back to sub $4k during the bear market.

[exstasie]

It could be the beginning of something considerably bigger, or not. I wouldn't act like anything's in the bank whatever happens.

Nothing's in the bank of course. Technically this could still be a bull trap like the May 2014 rally, although price has retraced quite a lot farther this time.

Sentiment is also markedly different this time too. The May 2014 rally was full of hope and optimism, in fact I bull trapped myself on that rally. Looking back, those were classic bear market conditions. People were much, much more skeptical and pessimistic about the current rise. We climbed the wall of worry this time. That's typical of an emerging bull market.

[timerland]

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

I personally think that the support has been tested with the dip a few days ago, and it held up nicely.

The chances of us seeing a major correction is still there, but I think there is still ways to go before we see one since the market right now is starting to feel euphoric. But even if a correction comes - the likelihood of a flash crash down below five figures is still very unlikely.

Besides, the fundamentals are there. Nobody can deny the fact that institutions are clearly showing interest, as well as the fact that a markets are more mature this time compared to 2017.

I think that the best accumulation phase has already passed, although I'm not saying that if you are a long term investor, you can't accumulate now.

[Duzter]

Price correction with bit is quite simple way to get the market moving without any form of large scale variation being experienced in the market. There is a common thinking that every price correction will cause a drop in the price and further will be the increase in the market. To me there is no more price correction to take place, even if something happens it will not cause a big drop in the market growth of bitcoin and other cryptocurrencies.

[EdenHazard]

Fundamentally is not happen, the big correction will come if there is no good information come and I never met a speculation that says bitcoin will face a correction so far. Can you look at the sentiment market now? A lot of speculation spread up that bitcoin will break up to $15.000 and I believe if the price of $15.000 has been achieved then the speculation will be say $20.000 is the next price will be achived. Sometimes you have to remember when we were in the bearish market, there are many speculation that bitcoin will down to x price and it has happened the such condition will be happen in the bull market codition.

[thecodebear]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

[UnDerDoG81]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

Agree the part with owning one whole bitcoin. 4 digits, I think we will see them.

[The Sceptical Chymist]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again.

Holy crapoly!  I hadn't checked the price of bitcoin for a few days and just did--I'm surprised it's gone so high, but truth be told it makes me a bit nervous.  I've always said bitcoin shouldn't rise too fast too quickly, and that's kind of what's happening right now. 

If the price stayed right where it is for a few weeks or a couple of months, I think that would be a good thing.  If we had a dip or a reasonable correction right now, that would also probably be good.

Can't get back to 4 digits?  Um, yeah.  Have you been following the bitcoin market for long?

[thecodebear]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

Agree the part with owning one whole bitcoin. 4 digits, I think we will see them.

I'd say extremely unlikely. It BARELY managed to break down through $10k on the last correction, only hitting high 9000s for a matter of hours. Doubt any future corrections will go as low as that last correction. I do expect a bigger percentage drop and longer drop after the next surge, but think it'll probably dip to 11k-13k in september during the next correction, 4 digits seems out of reach now.

[thecodebear]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again.

Holy crapoly!  I hadn't checked the price of bitcoin for a few days and just did--I'm surprised it's gone so high, but truth be told it makes me a bit nervous.  I've always said bitcoin shouldn't rise too fast too quickly, and that's kind of what's happening right now. 

If the price stayed right where it is for a few weeks or a couple of months, I think that would be a good thing.  If we had a dip or a reasonable correction right now, that would also probably be good.

Can't get back to 4 digits?  Um, yeah.  Have you been following the bitcoin market for long?

Yup I've been following the bitcoin market for a bunch of years. And yeah it looks to me like 4 digits is gone forever. It looks very unlikely to dip lower during this current correction than it has already dipped since it is working on building back up to the high from last month, which means 4 digits ain't coming back during this correction. And while I expect the next correction to be deeper than this one was, i think there's no way is will bring the price as low as the low from this correction. The next correction will miss $10k by probably a couple thousand.

[omonuyak]

What do you think? We saw a little bit of a correction for like a day back to 10300s. Do you think there will be a bigger correction lower than that, perhaps back into the 9000s in the near future? Or do you think Bitcoin has left 4 digits behind for good? Right now it's back right at $11,000.

The corrections has happened this time last week and bitcoin was push back to $9600 at bitstamp. However, since then bitcoin has recovered from the pull back and it even went as high as $13,177 early today and it still remains very strong at the uptrend.

[Oilacris]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again.

Holy crapoly!  I hadn't checked the price of bitcoin for a few days and just did--I'm surprised it's gone so high, but truth be told it makes me a bit nervous.  I've always said bitcoin shouldn't rise too fast too quickly, and that's kind of what's happening right now. 

If the price stayed right where it is for a few weeks or a couple of months, I think that would be a good thing.  If we had a dip or a reasonable correction right now, that would also probably be good.

Can't get back to 4 digits?  Um, yeah.  Have you been following the bitcoin market for long?

Theres no such thing for bitcoin on not going back into these digits.We do basically telling this thing when we are heading up to 20k where we do say that 4 digit price cant be seen anymore but the price had fallen back.Making out conclusions would just frustrate you since bitcoin can surprise us out anytime.

[BrewMaster]

Welp it had its correction to just under $10k like I thought. Now it's back to $13k. At this point I don't think we'll ever see 4 digits again. The time of buying a whole bitcoin being possible by a lot of people (at least in rich countries) is gone. Heading into the future new bitcoin owners will be excited just to own 0.1 Bitcoin. They will be impressed by anyone who has a one or more bitcoin.

Agree the part with owning one whole bitcoin. 4 digits, I think we will see them.

I'd say extremely unlikely. It BARELY managed to break down through $10k on the last correction, only hitting high 9000s for a matter of hours. Doubt any future corrections will go as low as that last correction. I do expect a bigger percentage drop and longer drop after the next surge, but think it'll probably dip to 11k-13k in september during the next correction, 4 digits seems out of reach now.

the 4 digits is definitely gone for good unless something very bad and unexpected happens! otherwise the more we stay above $10k the stronger it gets, it has always been like this. not to mention that we are on an uptrend that has been going on strongly and so far no strong trend has ever changed direction for no reason which makes less than 4 digits that much less unlikely.

[leowonderful]

There's plenty of support and buying happening right under where we are at the moment, even after we dropped from the $13.2ks to the lower $12ks as it seems there's plenty of money on the sidelines at the moment just waiting to get in on a dip. Still can't rule anything out, but I find it unlikely we're going to revisit the 4 digits in the near future.

[Reid]

Always be ready for it.
Even with $13k now it can still go to amounts which you didnt expect.
It already happened and that should have been a lesson for us.

I am not saying you sell it all. Maybe make some profits out of it so that you can be ready to buy back if the price turns south.
Just leave some to avoid a larger regret. It wont hurt that bad if a sudden increase also happens.
Think about what you did now and not what wrong choice you have made later on.

[BitHodler]

I am not saying you sell it all. Maybe make some profits out of it so that you can be ready to buy back if the price turns south.
Just leave some to avoid a larger regret. It wont hurt that bad if a sudden increase also happens.

You're absolutely right, but it doesn't always work out well. I'm sure that people have done so already well below the current levels, but have been disappointed because the price went up way higher.

I think the main point is for people to educate themselves on how a market works on a more technical level. Selling, even when it is to secure profits, isn't always the best options and might result in more harm than good.

It sucks having sold at $6000 thinking to have done a great job, to not long after that see how the price keeps pumping further. This is a hodl market until we're seeing clear signs of a bearish reversal.