Post
Topic
Board Bitcoin Discussion
Re: Don't be so sure about Bitcoin price correction
by
krypt0n1
on 02/11/2017, 14:27:44 UTC
I'm reading everyone to a wo/man saying Bitcoin price is not real and there will be a correction following fork. May I remind you what happened after BCH fork? Was there a correction? Briefly, but what happened then?

To all the people quantifying the value of Bitcoin based on fiat, you don't seem to understand that Bitcoin has no 'real' or 'true' fiat price. There will come a time not in a very distant future when 10 sats = 1 unit of fiat.

A correction isn't the same thing as a crash. Corrections can be healthy and necessary for sustained growth. Especially during periods (like now) when there is exponential growth without consolidation periods, the corrections can be more significant. Establishing support lines on the way up help prevent price crashes or significant corrections.

It's very possible there will be a sell off after the next hard fork since many people only switched their money to bitcoin to receive the forked coin. It doesn't mean this will crash the price at all. Also, there was very different sentiment leading up to the Bitcoin cash fork. People were worried what would happen during the fork, once it was seen that bitcoin would remain THE bitcoin, it reestablished peoples confidence so they put their money back into bitcoin.