Bitcoin price correction could be on the horizon in the next week
It's been an incredible week for BTC. Everyone has had great spending and buying power in the markets and as always, BTC has uplifted a number of other options with it.
It looks however that the correction we all know is due might be coming in the next week or so.
Check out some analysis from NewsBTC.com HERE
There has also been some funny speculation from financial experts. One of which; said he thinks BTC will drop to $3.50 in the near future.
If you're up for some FUD and laughs, you can read an article on his comments from themerkle.com HERE
Why the feather as the post picture you ask? Because I'd like to know if you think we will have a soft landing or drop like a brick of course..... Please comment, resteem and upvote below and let's have some good banter while we're all still able to afford pants.
I think so also. Between 3.450- 3.670 for a top for the short term. Scaled out already and will continue. Momentum still here but is weakening a bit. Good luck!
@makeithappen Let's just hold on for dear life in the coming weeks. It's always a little unsettling to see it drop (I mean "correct")
cool post congrats! I love your analysis. No doubts overall Steemit is a platform where content is of much quality.
We are in the right platform which is months away to start getting massively popular!
However BTC dropping to 3.5usd is soooo unlikely...hopefully it suffers a correction to pre-fork prices and I can jump in!
Thanks @darega03 I'm not sure it is that unlikely to see it drop below $3,500, but $3.50 is pretty funny. If it did though, I'd say it would be great for the coverage it would probably bring to the altcoins and other crypto projects.
I always like to call BTC a "gateway" coin to stronger stuff :)
I think when the general public isn't afraid or to baffled by cryptocurrency, it will be a great day for the world.
Absolutely. I won't be surprised if it goes below 3000.. at which point it is wise to get more. I will be waiting breathedly to see how Bitcoin Cash responds to that drop.
You said it @eavaryan ! I think $3000 would still be a great price! I'm interested to see what BCC/BCH will do also.
It feels like it has more to give than what we are currently seeing, but I've marked it for not much movement for 11 months or so, purely based on other forks where the lower coin had to recover value.
I wish Bitcoin would crash to $1800 again :-D I would sell my car and all of my silver for more Bitcoin :P I might even sell a couple of my paintings too!
@hotsauceislethal never sell priceless works of art for bitcoin! You should only accept NEO for such cherished items!
I'd be right behind you on the $1800 but would be out of cash from buying a truck ton at $2500 :)
Glad to see we are both clearly in control of our finances and not going beyond means!...... ((o.O ))
(all joking aside, it is never good to invest more than you could throw in the fire and laugh at)
Never bet more than you can afford to lose, I agree. But I will definitely go out of my way to get a larger position if it falls that much. Bitcoin tends to always retrace higher than its previous low.
Until one day alex! All good things....
That's why we invest in alts ha! :)
Solid blog. I was about to post a similair post. The price of a coin should depend on the quality of the product, the team behind it, if proffesional investors believe in it, and a lot more facets. This is quite an interesting website I found: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Sorted by team, product, company, advisors, previous investors, etc. For example: https://www.coincheckup.com/coins/Bitcoin#analysis To see the: Bitcoin Detailed report
Thanks @kaitlynmoore01 I'll check out that link. Completely agree on the quality of the product. Check ARK as an example.
Although it (ARK) hasn't achieved everything yet, clear communication on the roadmap and progress, coupled with 8 second transaction times, Smart Bridge tech, availability in 9 programming languages and immediate launch of the Ledger Nano S hardware wallet make it a much more interesting proposition than BTC. I think the fact you earn ARK for DPoS is also a big pull with those long term and institutional investors!