This week was supposed to be volatile due to the FOMC, but things weren't as volatile as I expected. From the current market conditions, the effect of the news will take a few more days to be reflected in the market. I expect 113k to be raided before we see price get to 118k But in a way I feel the market could prove me wrong and head for 118k next without raiding 113k.
What's your take on the current market situation?
As long as bitcoin is concern volatility is no longer a new language. There is no one who can predict the market correctly and such as a newbie I think it would be more advisable you forget the idea of waiting for bitcoin to dip to a particular price before you start accumulating. Trying to time the market will make you miss market opportunities and as such it won't be a nice idea to wait for something that you are not sure of. To me I believe there is no perfect dip so am not really moved by the market trends.
I think you are far from the direction of the OP. Perhaps he is just Speculating using feasible economy forces that can influence the market to do his analysis, so I don't think there is something wrong about him Speculating.
You don't also expect newbies who was attracted to adopt Bitcoin to suddenly ignore the price as it fluctuates. It take some period of time for newbies to be experienced enough and control their emotions.
So I will take the speculations of the OP as one of the Speculation threads we reads here in the speculation board.