Major fall in BTC price (16th Jan)

The analysts I have been listening to warned last month of a major correction being on the cards. I feel fortunate partly due to my strategy mentioned on another thread and partly due to these analysts that I sold a chunk near the highs.... I have not bought any more since. Corrections of more than 50 percent have occured many times in the past with Bitcoin and I don’t see anything fundamentally different this time. I would expect a fall to around $7000-$8000 where there is more support.
I am now diversified into other alt coins too, although they have been hit harder.

BS I am in a similar position to you. Because I sold a chunk the price would have to drop below around 2000 Euro for me to start making a loss on what I have left.
 
Bitcoin showing signs of stabilising, very little change in the last 8 minutes...is this a buying opportunity? :p
 
Price now back above 10k. Wild swings today. 1am in South Korea & China though so it could be an interesting evening here...
 
TheBigShort said:
Bitcoin showing signs of stabilising, very little change in the last 8 minutes...is this a buying opportunity? :p
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It’s interesting they say “when there is fear on the streets that is the time to buy”.

Sounds easy on paper but in reality when there is fear on the streets everyone is selling. Whether it stocks bonds or crypto it’s the same principle. Climbing that psychological hurdle for most average investors including myself is extremely difficult. Technically speaking and going from the last several 50 percent corrections in Bitcoin now would be an opportunity to buy. However even if my strategy was to buy after a 50 percent correction I don’t think I could overcome that psychological hurdle.
 
landlord said:
Corrections of more than 50 percent have occured many times in the past with Bitcoin and I don’t see anything fundamentally different this time.
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The difference, wether it is fundamental or not I don't know, is that a broader pool of investors were pulled in after each successive slump and rebound. Eventually there will not be any further investors to be pulled in.

Have we reached that point now. I dont know.

If your break even is €2k, and you can sell now for €8k, !!!!
 
cremeegg said:
If your break even is €2k, and you can sell now for €8k, !!!!
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My break-even is just under €3,000. If it falls to less than €2,000 I will start to ponder whether to bailout or not.
Im actually in bitcoin for the long haul, not as a get rich quick scheme.
I expect more to be buying again once there is a levelling off on the price.
 
Perhaps old news for some, but I note the following:

- Coinbase was the most downloaded app in the US in 2017

- The IRS have, to date, received only 800 returns of income or gains in respect of cryptocurrencies

- The IRS have subpoenaed Coinbase for details of all individuals who have transacted cryptocurrencies at a level of $20k or more

#onlyamatteroftime
 
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