This is finally the correction we have been waiting for! Current MC: $115.8B (-19.7B since 12 hours ago) Bitcoin Dominance 47.8%
The recent news of Chinese exchange closures has caused mass panic in the markets. The prices DUMPED overnight in the Asian markets as investors scrambled to re-coup what they could. With only 5 out of the top 100 coins in the green, the entire market is hurting BADLY!
There are PLENTY of other markets worldwide that CAN AND WILL pick up the slack in the midst of this panic however. Bitcoin regulation in China will be good for the long run but the wild west days that we all know are coming to an end. It may take a few weeks to recover but we should see the Bitcoin economy regain some of its lost ground eventually. Remember that Bitcoin isn't going anywhere and all of the money and time that has been invested so far will not be in vain!
We should be looking at a retracement to the $3650 zone before making our way to $3900+ again in a few weeks. If there is continued panic selling we could see a further drop to $2800-2900 before serious support steps back in again. The market is just kicking Bitcoin while it's already down.
The next few days there will be some AMAZING buying opportunities as the entire market is severely depressed. I always tell myself whenever I feel REALLY bad about Bitcoin it's the perfect time to buy some! If BTC drops below $3K you best believe I will be buying more :)
For part one of my forecast today look at https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-9-14-2017
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)
Check out my last forecast:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-9-12-2017
Feeling salty about missing the crypto boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Don't worry:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-just-getting-started-update-9-8-2017
Fantastic Documentary About Relevant STUFF! (MUST WATCH!!!)
https://steemit.com/cryptocurrency/@avii/mind-over-money-documentary
Like Bitcoin But Want To Avoid The Fees?
https://steemit.com/bitcoin/@hotsauceislethal/save-money-when-sending-crypto
Pay No Transaction Fee From Coinbase!!!
https://steemit.com/bitcoin/@hotsauceislethal/no-transaction-fee-bitcoin-trick-using-coinbase
Bitcoin discount I like a lot
I just got my GDAX deposit today too :) Hey did you check out my post about how to avoid fees when sending BTC?
yes but i don't have coinbase. BTC fees are cheap already now i think. Used to be very expensive
In part one I mentioned how I always use LTC since the fee is only about 2 cents right now to send. BTC fee was $1.86 at the time :-X Network fee is only $1.10 for BTC right now! On the plus side it will be cheaper to send BTC haha.
I agree with you that we could bounce back to 3600. According to my technical analysis we could see a rebound from current levels (3400), may be up to 3600 and then it will go down again due to strong suppor at that price. That is the short term. On the medium term we could be completing Elliot Wave 4 which means that only Wave 5 left before a long term bear market starts which with Fibonacci analysis takes us down to 1800.
Here is my technical analysis
https://steemit.com/bitcoin/@freedomvigilante/is-bitcoin-going-to-recover-from-this-crash-technical-analysis-with-ledger-levels-fibo-and-elliot-wave
I love this days. Everyone panic-sells, panic is in the air, people scream... I love this GREAT CHANCE to buy more and more cheap cryptos xD
Time to buy more crypto :)!!! It's like everything is on sale and I just want them ALL!
Nice article, let's see what's happen 👌👌
We could see prices dip below $3K again. The one year moving average is something like $2900. If BTC hits that zone or below you should be buying as much as possible!
Buy and Hodl!!
HODL and BUY! :P
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@hotsauceislethal Great submit. Hardwork pays a lot more so preserve Functioning tough! Resteemed.
@hotsauceislethal thnx for putting this information all with each other. Followed.
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