Post
Topic
Board Speculation
Re: Bitcoin price fall below $5,500.
by
paul gatt
on 20/10/2017, 11:16:53 UTC
I have been following bitcoin price since the recent upwards price movement and I think $5875 has become the high and corrections has began. Checking price chart this morning I discovered that the down channel's line has been broken and that signal a dropped in buying momentum and price may get below  $5,000. However, this is another opportunity to buy bitcoin at a very cheap prices as before the end of this year bitcoin might hit $7,000. This corrections is not going to be a long one,  it might just be three to four days and we would resumes another upwards movement again.

Yes, there are always adjustments when the bitcoin value goes up too fast. And I think that these adjustments are reasonable, it is completely beneficial for bitcoin and the whole market. It does not inhibit bitcoin. It just makes bitcoin more stable.