Quote from: richardsNY on November 11, 2017, 05:36:19 PM

Quote from: iv4n on November 11, 2017, 04:24:42 PM

look at that from the bright side unique chance for buying bitcoins with 20-30% discount cause price will get back to 7000 mark before new year.

People here are always too late. They likely bought their coins very close to the peak levels, and for that reason aren't in a position to see it as an opportunity. If we look at the charts, there is a similar pattern visible, hinting at a correction somewhere close to the +$7000 levels we visited before the market went down. It doesn't require any actual market understanding to spot that pattern, but just common sense. At worst we'll be testing the $5000 level in the very short term, but I don't expect the market to fall that much down. My guess is a dip just under the $6000 level ($5800-$5900) where after that we will see the market go back up again.

It seems you have the notion of bitcoin having an intrinsic value or "fair" price. The only price of bitcoin is the quotes from the exchanges.

I am no expert of the blockchain technology. It seems ethereum, bitcoin-cash and bitcoin all are using the same technology. So, which should be more valuable is only for the buyers and sellers. I don't see how we could tag a value of $5000 or $6000 to be the fair bottom. It seems to me the $600 reference just before the rally should be more useful.