Topic: Correction from $30K: Reason to worry? (Read 1057 times)
Have now locked this poll and topic as Bitcoin has since recovered and returned to >$30K, so based on the original topic, the poll and discussion no longer remains relevant.
Frequent market corrections certainly give us the opportunity to buy more at a low price, as happened last week when the $24k price certainly made many regret not buying when the price was low, and I'm sure if we don't buy now at the price $30k then we will regret it when the price reaches $40k or more next July.
IF Bitcoin goes down to $15k or $16k again it will cause a panic sell for retail, but for whales and companies I'm sure they will buy,
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
If that happens it means there was a big crash that sent the price down in the $15-$16k range, and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn, but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
If that happens it means there was a big crash that sent the price down in the $15-$16k range,
and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn,
but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
I think the normal thing to happen is if it's going to drop below $15K, of course this could be the momentum where the opportunity for bitcoin to prepare itself increases afterwards.
bitcoin will continue to do things that are hard to predict when the market hasn't really recovered, so if it is going to drop to the current situation where the halving era hasn't arrived yet is a normal situation. believing that there won't be a big crash if the price corrects is precisely the right time to keep buying and holding until the bull market comes.
Tipping over the 50% level between March low and the April high. I do think we need to challenge and confirm Feb 2023 prices as some support, if that area is not able to provide support to BTC price action currently then we may see the full range of about 20k occurring though I think thats less likely to occur right now. Every move like today has some elasticity to it in that it can reverse and almost wants to trade the other way when energy of the move is fully dissipated, we dont know that can happen yet or where as its hard to gauge the energy to this sell but its fair to look for the attempt upwards and judge strength from that.
Anywhere below 26k even if we do recover is an ongoing negative development to watch and I do still think the range of prices down to about 24k will register as some harder ground for a foothold.
Anywhere below 26k even if we do recover is an ongoing negative development to watch and I do still think the range of prices down to about 24k will register as some harder ground for a foothold.
IF Bitcoin goes down to $15k or $16k again it will cause a panic sell for retail, but for whales and companies I'm sure they will buy,
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
If that happens it means there was a big crash that sent the price down in the $15-$16k range, and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn, but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
If that happens it means there was a big crash that sent the price down in the $15-$16k range,
and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn,
but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
then chances would really be there. We did touch up 30k wayback in previous months on which we do really have that kind of hopes that this might be the start of recovery but it seems that we are wrong.
Instead it do failed up on having a breakout for this kind of point on which the price keeps coming back and touching these levels but failed up on breaking it out.
This is why it would be better to make out some play about these movements because you wont really be needing to wait up for long before you could make profits
out of these volatility. Just really be sure that you should really be wise on doing so.
Until there are people who have got their Bitcoin for few dollars and thousands, there are no reasons to worry. In fact, Bitcoin has been growing for 5 months already. Take a look on a price that was in December. It was significantly lower that it is now. I see no reason to worry or cause panic. Learn to wait, to hold. If you expect that the price will only grow, then you are wrong and right. In general, price is growing since 2012, in short period, it is fluctuating.
IF Bitcoin goes down to $15k or $16k again it will cause a panic sell for retail, but for whales and companies I'm sure they will buy,
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
If that happens it means there was a big crash that sent the price down in the $15-$16k range, and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn, but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
If that happens it means there was a big crash that sent the price down in the $15-$16k range,
and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn,
but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
Clearly most people weren't concerned by a correction from $30K, especially after the substantial increase from around $15K. I'm not convinced this will be the same if $25K doesn't hold as support so may well do a poll if this happens. I suspect the correction will go deeper and there could be significant panic selling if price breaks $25K, until another support level like $23K supports the price.
The good thing is that $25k seems to be holding, as this crisis (I call it crisis since it SEC case has affected the whole market, not just bitcoin, although other coins are bleeding very bad).
So for now, we can say that we are now clear and everything has settled down a bit.
No more panic from the market, prices is trading sideways, and it could signify that,
- there is no buying/selling
- there is buying, but at the same time there is also that sells
- there is selling, but at the same time there is also that buys
IF Bitcoin goes down to $15k or $16k again it will cause a panic sell for retail, but for whales and companies I'm sure they will buy,
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
If that happens it means there was a big crash that sent the price down in the $15-$16k range, and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn, but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.
Correction of price is very much normal and nothing to be worried about!
Half a year has passed and Bitcoin's highs are in the $30k area, and actually before the recent correction which caused the price to fall back below $30k before this has also happened in the near future when Bitcoin was moving with a small bull, but at the previously we were able to return to high levels in the current year and this correction occurs several times in the near term.
So we think for now it's a correction where the price stays below $30k in the time frame which is probably not that much longer than the previous recovery, but basically we don't think this is cause for too much worry for a trader or an Investor, and to be honest we prefer to take advantage of this good time than we have to worry about the price which is still in the process of moving up and down.
If that happens, the more bitcoin falls, the more excited I am because there will be a lot of panic sellers, and that's an opportunity for us to own bitcoin at a cheaper price. Be greedy when others are fearful.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
Obviously altcoins will take a greater hit of it, if we eventually get a further drop from here, maybe worst case scenario, we head back donw to test the previous low of $15k which is less likely to happen. In as much as there's gonna be pain in the market seeing your portfolios on red, but there's also a great opportunity there for people to get BTC below $20k if you have reserved cash or a new investors looking up to dive into the market.
IF Bitcoin goes down to $15k or $16k again it will cause a panic sell for retail, but for whales and companies I'm sure they will buy,
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.
If that happens, the more bitcoin falls, the more excited I am because there will be a lot of panic sellers, and that's an opportunity for us to own bitcoin at a cheaper price. Be greedy when others are fearful.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
Obviously altcoins will take a greater hit of it, if we eventually get a further drop from here, maybe worst case scenario, we head back donw to test the previous low of $15k which is less likely to happen. In as much as there's gonna be pain in the market seeing your portfolios on red, but there's also a great opportunity there for people to get BTC below $20k if you have reserved cash or a new investors looking up to dive into the market.
If bitcoin falls below $20k again, there will be more panic selling than buying, and I think only experienced people, investors who have been through previous bear seasons, will feel the excitement and buy bitcoin. I doubt newbies will buy bitcoin at that point, and that is the difference between successful and failed investors. Many people didn't buy when bitcoin dropped to $16k last year, and I believe they won't when bitcoin drops again.
If that happens, the more bitcoin falls, the more excited I am because there will be a lot of panic sellers, and that's an opportunity for us to own bitcoin at a cheaper price. Be greedy when others are fearful.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
Obviously altcoins will take a greater hit of it, if we eventually get a further drop from here, maybe worst case scenario, we head back donw to test the previous low of $15k which is less likely to happen. In as much as there's gonna be pain in the market seeing your portfolios on red, but there's also a great opportunity there for people to get BTC below $20k if you have reserved cash or a new investors looking up to dive into the market.
Clearly most people weren't concerned by a correction from $30K, especially after the substantial increase from around $15K. I'm not convinced this will be the same if $25K doesn't hold as support so may well do a poll if this happens. I suspect the correction will go deeper and there could be significant panic selling if price breaks $25K, until another support level like $23K supports the price.
Obviously this can happen because the support is broken, then panic selling will occur. Bitcoin hasn't really experienced a dump because it only fell -4% or -5%, but the impact it has on altcoins is extraordinary,
look at the altcoins that are bleeding a lot these days.
If that happens, the more bitcoin falls, the more excited I am because there will be a lot of panic sellers, and that's an opportunity for us to own bitcoin at a cheaper price. Be greedy when others are fearful.
And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.
Clearly most people weren't concerned by a correction from $30K, especially after the substantial increase from around $15K. I'm not convinced this will be the same if $25K doesn't hold as support so may well do a poll if this happens. I suspect the correction will go deeper and there could be significant panic selling if price breaks $25K, until another support level like $23K supports the price.
Obviously this can happen because the support is broken, then panic selling will occur. Bitcoin hasn't really experienced a dump because it only fell -4% or -5%, but the impact it has on altcoins is extraordinary,
look at the altcoins that are bleeding a lot these days.
Clearly most people weren't concerned by a correction from $30K, especially after the substantial increase from around $15K. I'm not convinced this will be the same if $25K doesn't hold as support so may well do a poll if this happens. I suspect the correction will go deeper and there could be significant panic selling if price breaks $25K, until another support level like $23K supports the price.
I am not worried about the current price conditions, the hope that the market is immediately rising because these days are negative issues about binance that experienced a crisis, but I am sure that the binance case will not be like FTX, and it is proven that all withdrawal transactions that I do are all not a problem.
Correction of price is very much normal and nothing to be worried about!
If anything, price kind of moves in a way that an earthworm moves...to go forward it has to kind of contract and make that catapult effect to go forward..Same thing with our bitcoin price, to go up price needs to find liquidity at these bottoms to build momentum to break any barriers at the top that are keeping it from breaching this new price. So for now lets just hang in there, sooner or later new highs will be registered.
If anything, price kind of moves in a way that an earthworm moves...to go forward it has to kind of contract and make that catapult effect to go forward..Same thing with our bitcoin price, to go up price needs to find liquidity at these bottoms to build momentum to break any barriers at the top that are keeping it from breaching this new price. So for now lets just hang in there, sooner or later new highs will be registered.
Quote
Are you worried about correction from $30K?
My vote:NOI think the point is how the correction is going to happen, it is drastic make down? Just like what we have seen in the last 24 hours, the price suddenly goes to the high of $25k because SEC decided to go after Binance and accused the exchange of so many things illegal.
But there is also a catch, it could be manipulation as the price recovered from that upside and suddenly as if nothing happens, went to it's previous price before this news to $27k. Is this manipulation behind or this price action is natural and organic?
there are people who doesnt really like to see those huge swings on a short time without even trying out to look back that this had been a typical or normal movement of Bitcoin or in overall
crypto market or space on having this kind of movement on which it isnt really that shocking at all. Dropping below 30k isnt really that something that you should really be freaking or panicking about
because we've been even on 20k price and that moment on which we do struggle on breaking that point on where it do moves sideways for some time and now we are really that on a similar situation
on which the price is really that having stagnant behavior. We cant really be that able to predict on what are the things that would happen along the way. This is why it would really be that always
ideal that you should really be accepting on whatever prices that would shoot up along the way.
I think there is nothing to worry about corrections. There is only one thing to be scared of and its real dumping. It I think only happened in covid era with Bitcoin. Even at top of last rally bitcoin didn't experience huge dumps but all corrections following each other. I personally hold low amount of Bitcoin in my wallet right now because I don't think this price would be profitable level to enter. Anyways bitcoin is strong and steady in my opinion. Next year we may experience very good rallies that will make us completely forget about these 30k price levels. At one point we will return back and smile because we were "too" worried.
Recently I often read news on social media such as Facebook and Twitter that the SEC issue is alive again. I don't know for sure whether this is the news or issue that has made bitcoin prices tend to fall lately. SEC is like pulling bitcoin down below $25k but bullish pulling bitcoin up above $30k, in the short term bitcoin price will remain in the $25k - $30k range.
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