$5,000 per bitcoin was a mile stone many bought into last night. While i didn't see all exchanges hit this mark some did and that was a goal on many minds. As soon as we hit the bench mark it seems we went into a massive sell off. But this correction as of right now looks over.
If you look at the past few months bitcoin corrections last 30 minutes to a few hours and in rare cases a few days. However the trend upwards has always been very strong. Today's correction was around 5%- 6% From nearly $5,000 per coin to $4,600 this seems like a huge amount but when you start looking at percentages it is starting to even itself out to how stocks perform.
The trend continues to look upwards and it is understandable for investors to take gains. These are key points of which you can buy into the market. As others panic and sell it is almost always a good time to do the opposite.
Could this be the time to buy in?
Maybe but like always it is a risk and one you have to be willing to take and be ok with should you be wrong.
Remember all of this is my own opinion and not professional advice. Please be responsible with your own finances and seek professional advice before investing.
These corrections are healthy. Time to buy
Exactly i've been buying on all of these dips and so far it has played out very well. The first few days looks scary but it quickly recovers. Bitcoin moves fast!
What is happening now is like what I did, when I see its price go near a 5000 mark, I sell half to buy more LTC and I was correct.I buy LTC the other day at 64 usd now it get 98 usd. Quick money and the prediction LTC will maintain its position up to the end of this year. Since, its a silver coin compare to BTC but its more faster to transact now. My opinion LTC will climed 5000 usd while BTC will go back 1000 usd. Maybe investor will go sell and sell when hit 5000.
It is good to see prices drop a bit across the board. They all have been going up too much!
I was offered Bitcoin when it's value was $1. I never thought it would go this high. And now, I am not in the position to buy any bitcoin. Game lost.
sigh that's harsh I still look back at litecoin now when it was $4 and wonder why I didn't invest everything I had in it lol but then I remember yeah that would of been crazy!
I had fear that the market would be dead before it would grow this big. The fear still persist. But now, when it's $175 billion worth, I believe crypto, besides Bitcoin and ETH, would take a big big storm. It's still in an infancy stage, though.
I know how you feel.
A break up would have been lesser painful.
you don't need to buy 1btc at a time
If you check the Fibonacci Retracements on the hourly, 30 minutes or 15 minutes charts, the retracement almost hits the 30% line. All charts are consistent showing it could be the end of the retracement.
Good insight it does look like the correction is over they do move very fast its pretty crazy lol. It seems to be flat lining right now at $4,600 it looks bad but what you need to realize is $4,600 is a massive gain still! Predictions where saying $5,000 by years end well we hit that 3 months ahead of time so i'm now thinking $7,500 by years end. The trend here has always been upwards.
wow, the cryptos were nearly all red yesterday, what happened? that's the worst i've noticed in awhile
Just a correction we all knew it was coming soon and the hype on $5,000 was a big thing. The reason why everything goes red is because honestly just about every alt coin is traded with BTC and not cash.
the dependence on btc is interesting
real wind surge looking more
We live in interesting times. Looks to be a healthy correction in bitcoin.
do we like it?
Fantastic post. Gives a broad overview of what we can expect for the next couple weeks as well.
Interesting view! It definitely will rise in the long term...
Thanks for sharing!
DUMP AND BUY! :D
It appears we are having a big of consolidation here in BTC. The downward spiral has ceased, at least temporarily. This is going to be a buying opportunity although one that might be missed. I could easily see BTC taking off again. Ultimately, I foresee us blasting through 5000 and pushing the 6000 mark rather quickly. At that point, we might really be overextended but will look at that when we get there.
Just my two cents on it. Thank you for your post.
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If i just only hold my BTC last year and didn't sell it that time. I maybe became millionaire today. regrets always at the end. =(