Topic: Correction coming in the coming weeks? (Read 11097 times)

I also believe that a major correction is imminent, i wouldn't be surprise if bitcoin goes down to 7k again. It is definitely a good time for investors to take some profits.

Is really correction needed and then who will made this correction possible? If there really is correction about then I doubt that there could be no abuses or manipulation that will going to happen. I thought that bitcoin since high pump ups with its market price happen a correction interns of its market price does seem really needed. Injust hope that there will be a third party that will ensure bitcoin market price correction in proper way and in good faith.

We are getting close to the days of reaching $10k. Maybe before the days of reaching a larger milestone there will be price correction in the market. Maybe this time we've already crossed the price correction and we're too fast to reach $10k. From my experience the present market resembles the same growth pattern during the year 2016 before the days of halving.

It will happen soon, and the correction is one step to increase higher in the next days. We need to stay calm and don't panic, and that will be a good time to buy more bitcoin if we can see the price is at a low price. Perhaps, you cannot get a very low price, but you can get a low price, and you can hold it for a while until the price can increase to a higher price. No need to worry if the correction is staying for a moment because if the time for the price to increase comes, you will see your profit will bigger than the price you bought.

You are already in profit now, seems like bitcoin is ready to stay at $8000 again, selling at this price is good for you since you buy at a lower price.
But my friend, I'd suggest that if you are not into day trading, just wait until bitcoin crosses $10,000, I can feel it's happening soon.

Hopefully the correction will bring better market changes in the next few days to go this month, which will make the price stable and pumping. Even though there's a declination of the price, I guess that's great to see more new developments to come along with bitcoin. More people now hodle their assets and gained strong dedication towards growing their coins, yet learning more ways to overcome panic emotions.

The correction already happened and OP was right, just was not completely accurate on the value it will dip to, and as against the 6000 op speculated, it went just a little below $7100 before finally rebounding.

I don’t think we should get to see that value again for now till maybe after this bullish market has set a new ATH, that is when I know that the market can be forced down to that vale again and I think after this ATH, that might be the lowest value we will ever see in the history of Bitcoin again. The next value we should be targeting now that Bitcoin is trying to sustain the new $8000 should be $10,000.

Is really correction needed and then who will made this correction possible? If there really is correction about then I doubt that there could be no abuses or manipulation that will going to happen. I thought that bitcoin since high pump ups with its market price happen a correction interns of its market price does seem really needed. Injust hope that there will be a third party that will ensure bitcoin market price correction in proper way and in good faith.

Even though there's a declination of the price

You are already in profit now, seems like bitcoin is ready to stay at $8000 again, selling at this price is good for you since you buy at a lower price.
But my friend, I'd suggest that if you are not into day trading, just wait until bitcoin crosses $10,000, I can feel it's happening soon.

I bought some more at 7580. Just missed the drop down to 7400s. Set the last bit of money I have right now at 7100 in case there is further downside (which I'm guessing there will be in the coming days.

I took the liberty to check the charts on CMC from 2017 (too lazy to check past years). Prior to the 'August 2017' 40% correction that @exstasie mentioned, there was a massive surge in the price from $1856 to $4480 with usual sideways movement, then there was a 18% correction to $3674, from there the price took off nonstop towards $4980 until the 40% crash hit the market and the price touched sub 3k. After that, the price recovered and the rally kept going.

Very unlikely. If you were able to work out with those numbers from your previous posts that the price enters a "cycle" everytime we're in a massive uptrend (the cycle being a 40% or so correction), what makes you think the bulls aren't anticipating such correction?

I'll just have some fiat ready before the inevitable flash crash comes...Everyone should do the same.

I love me some bitcoin rising as much as the next guy. But looking at the parabolic rise of the past two months, does something gotta give?

If I'm looking at the chart objectively, and not with the bias that I own a lot of Bitcoin, I would say that price is very likely gonna drop back down to 6000s soon and  take a few months until it moves back up and hits $10k.

The only real reason I could see this not happening is if enough institutional money has come into the market already to prop up the price far higher than the bottom this early in the bull market. Basically a round of institutional FOMO just hit the market as Wall St realized the bull market started and a few players wanted to get a small allocation of bitcoin before the market starts really heating up in the next year or two. If this is what happened then I think either we'll see the price go sideways for a while because it'll still take a while before new retail investors start coming back in any serious numbers, or institutional FOMO will create a short bull market this year followed by a quick but full crash, and then another short bull market ensues later on next year to bring the price far higher, basically a 2013 scenario of two short parabolic bull runs with a full on 80% crash in between all within a short time period that if we zoom out now kinda just looks like a single bull market with a break in the middle.

@omonuyak we need more people like you who can hold their nerves, and not indulge in panic sales when the market is taking a dump. This dump is indeed a buying opportunity for all cause when bitcoin prices will rise it’ll cross $10k, and everyone who’ll buy now will earn handsome profits. What levels are you you planning to buy bitcoins, as I’m planning to buy them at $7.7k levels.