Quote from: olumyd on February 17, 2020, 04:18:00 PM

Quote from: bhabygrim on February 17, 2020, 12:00:16 PM

I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?

Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.

But, we need to consider few supporting factors which are going to happen around crypto space like upcoming bitcoin halving. The current pull back must be due to profit booking by some whales and definitely not be a signal for history is going to repeat itself.

I agree if the bitcoin prices will be failing to test $11k to $12k levels then definitely it will come back but it is too early to expect it to test those regions. I mean to say we must give some more time for market to accommodate and then to continue its rally. I believe those levels like $6500 may not be seen forever within bitcoin markets. Yes, those price levels must have gone forever and we are going to test new ATH in coming months.