Post
Topic
Board Speculation
Re: Many graph analysts saying BTC will correct once it hits $10k. Why?
by
CoinsCoinsEverywhere
on 28/11/2017, 05:43:49 UTC
Is there an actual reason why BTC will drop once it hits $10k other than the fact that everyone is saying it will happen?

As has already been said, self-fulfilling prophecy is pretty powerful.  Back when BTC hit $5k, there were a lot of calls for a drop to $3k.  The China ban occurred, and what happened?  We bounced quite nicely off of $3k.

There has also been quite a lack of FUD lately.  It wouldn't surprise me if something unexpected came along just as we breach $10k or shortly thereafter.  I saw another thread talking about rumblings at the Federal Reserve.  I know nothing about that, but something of that nature could lead to a quick correction/crash.