Post
Topic
Board Bitcoin Discussion
Re: 11k plus is the price of Bitcoin Now. my fear is.....
by
Jating
on 03/12/2017, 19:47:20 UTC
Bitcoin might drastically go down deep following the sudden surge in price. If am wrong you can correct my impression thank you.

You need to understand that bitcoin can't go parabolic line and it is not sustainable long term. And no one knows when this upward trend will stop. Investors are still in stage of "euphoria", Irrational buying that generates a strong rally to push the price even higher. There will be retracement, but you don't need to worry because it will be another perfect opportunity to get into the market and buying bitcoin at a cheap price. Just hold and be patient.

And I also believed that it can't go lower $9k if ever there is a pullback. Because many traders see's this an perfect time to buy, while other's they will think its the last time to act (FOMO) to purchase bitcoin.

Again, do not be afraid of such corrections in the future, and I also suggest that you look at bitcoin's historical chart and see for yourself how it recovered from the past and even went higher than its previous all-time-highs. Wink