Are we in a crypto bubble? Is a possible correction coming soon? - page 2.

hd49728

legendary

Activity: 2044

Merit: 1018

Quote from: esinka1903 on February 28, 2024, 07:37:33 PM

As we approach the end of February, BTC is reaching new all-time highs not witnessed since 2021.

It does not make a new all time high which is an important point.

When it breaks out from 2021 all time high, it will create massive FOMO.

Quote

However, the increasing trading volume and the influx of inexperienced investors driven by FOMO, leading to hasty buying decisions based on the expectation of reaching new price peaks

People are FOMO and if you are fearful of correction, take profit and exit the market.

In a bull run, there will be many correction like 15% or 20% but price will soar more after a correction. You must know that halving will happen in April and Bitcoin Spot ETFs will bring more capital into this market in coming months. They are only at beginning of loading bitcoins for their Spot ETFs.

Zaguru12

hero member

Activity: 672

Merit: 855

Yes bitcoin will take a little correction after this huge pump because as we know it is clearing all liquidity at the top currently and this means the buyers are stronger than the sellers but with the price this high we expect some investors to take profits and this will lead to a correction of the market. Currently the resistance level at $62500 to will act as the new support and bitcoin will come back to test it and if he gets to break it down we could see a good fall but the price wouldn’t get low like the way some investors predict it my lowest correction price is $49k.

As for ETH ETF may I still sudden for that to happen and last quarter of the year looks more realistic. But ETH wouldn’t influence the entire market but rather its tokens because only bitcoin has that momentum or dominance to push the entire market.

esinka1903

newbie

Activity: 17

Merit: 0

As we approach the end of February, BTC is reaching new all-time highs not witnessed since 2021. Bitcoin is making significant progress, moving beyond the $ 62 thousand price range and heading towards the all-time high of 68 thousand. This positive movement is supported by a bullish reversal candle pattern called Three outside up on the recent 3-day chart.

Things are looking good so far Wink

. However, the increasing trading volume and the influx of inexperienced investors driven by FOMO, leading to hasty buying decisions based on the expectation of reaching new price peaks, indicate characteristics of a potential bubble in the crypto market. The upcoming Halving event in April and the anticipated approval of the spot ETH ETF in May indicate that this bull run will continue throughout this season. Any predictions on whether a BTC price correction is on the horizon? How far do you think the price will go now that it has broken through resistance levels?

#tothemoon

Topic: Are we in a crypto bubble? Is a possible correction coming soon? - page 2. (Read 172 times)