Correction from $30K: Reason to worry? - page 3.

justdimin

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Quote from: lkjhg on May 31, 2023, 08:41:58 AM

Quote from: aksplace on May 30, 2023, 06:42:55 PM

We must be aware that the price of bitcoin is volatile which creates price uncertainty under any circumstances, so a price correction now is an opportunity to increase investment, we have many options to buy Bitcoin and top altcoins to add to our portfolio, so avoid panic because a price correction in the crypto market does not make it's anyone's loss to stay holding on to BTC until the bullish season comes.

correction is an opportunity so why worry if the Bitcoin price corrects from $ 30k?,
the halving is still 1 year away, to be precise, maybe in Q2 2024,
so it's better to focus on adding to the portfolio because we are still in the accumulation zone of Bitcoin price action.

I think that's the point, if the price goes down a lot there are people who do not take advantage of that but instead sell. I never truly understood the mindset, if the logic is to sell before it goes down even more, then just wait for it to go down even more before you do that, you could sell if it keeps going down. I am not saying sell when it's even lower, I am saying just wait until it's lowering, if it goes from 28k to 26k, there is no logic in selling at 26, it's already there, you are already too late.

So instead people should be putting a stop loss order even lower, like 25.5 for example that means you are not too late, because if you sell at 26k then you will not see if it will go down even more or not, but if you put a stop loss at least you guarantee yourself you won't get any worse.

stomachgrowls

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Quote from: capedbaldy on May 31, 2023, 10:54:01 AM

Quote from: lkjhg on May 31, 2023, 08:41:58 AM

correction is an opportunity so why worry if the Bitcoin price corrects from $ 30k?,
the halving is still 1 year away, to be precise, maybe in Q2 2024,
so it's better to focus on adding to the portfolio because we are still in the accumulation zone of Bitcoin price action.

Exactly, we have nothing to worry about the current market conditions, we are planning a DCA strategy of adding assets because the market is very volatile at the moment but it is likely to correct below 25k, but I really hope bitcoin never returns to 20k because of the bad impact on the bitcoin price before halving, there's no telling what the next low will be as bitcoin has been holding on to lows for the last 2 years.

DCA when it dips as long your budget or fund would permit you then you could always be having the chance to accumulate more cheaper coins and this wont really be that a huge issue for you or on someones whose

really after for long term and not really selling out anytime soon but instead they would really be buying up whenever the price do make out some correction.Price now is really that hard to read up(as always be)
on which on the time the price had clinged up on 28k then lots of assumptions already that it might be the start of the bull run but we've seen that it didnt pushed through but instead it do make out
some huge red candle afterwards or simply lost its momentum.

This is why it would really be that just right that we shouldnt really be minding much whether it would really be breaking 30k soon.It is really hard to predict as always where the price could move up
basing on TA but with some FA it do drops down which it is really that contradictory most of the time which is the hardest thing of all.

capedbaldy

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Quote from: lkjhg on May 31, 2023, 08:41:58 AM

correction is an opportunity so why worry if the Bitcoin price corrects from $ 30k?,
the halving is still 1 year away, to be precise, maybe in Q2 2024,
so it's better to focus on adding to the portfolio because we are still in the accumulation zone of Bitcoin price action.

Exactly, we have nothing to worry about the current market conditions, we are planning a DCA strategy of adding assets because the market is very volatile at the moment but it is likely to correct below 25k, but I really hope bitcoin never returns to 20k because of the bad impact on the bitcoin price before halving, there's no telling what the next low will be as bitcoin has been holding on to lows for the last 2 years.

lkjhg

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Quote from: aksplace on May 30, 2023, 06:42:55 PM

Quote from: someone703 on May 30, 2023, 06:02:45 PM

Why worry about this? Bitcoin cannot increase continuously; there must be a correction to be able to move on to the following paths. So this is also the accumulation period for a new pump, so the opportunity for investors to buy at this time can also be good. However, it can also be affirmed that it will continue to increase because the effects of the news brought to the market in recent times are not great. So wait for an explosion, as this will be a signal of which direction the bitcoin price will go in the next trend.

We must be aware that the price of bitcoin is volatile which creates price uncertainty under any circumstances, so a price correction now is an opportunity to increase investment, we have many options to buy Bitcoin and top altcoins to add to our portfolio, so avoid panic because a price correction in the crypto market does not make it's anyone's loss to stay holding on to BTC until the bullish season comes.

correction is an opportunity so why worry if the Bitcoin price corrects from $ 30k?,
the halving is still 1 year away, to be precise, maybe in Q2 2024,
so it's better to focus on adding to the portfolio because we are still in the accumulation zone of Bitcoin price action.

Dollar_Hunter

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Quote from: Kadal Ijo on May 31, 2023, 12:57:41 AM

It's been more than 2 months the price hasn't gone up again, when it was March and the price could reach $30600, I was optimistic that the price would continue to go up and in May it could stabilize at $40k, unfortunately after the price was $30600 the price continued to decrease and now it's around $27k.

Correction in the Bitcoin price is a natural thing, even though the price fell to $ 27k,
because the Bitcoin price really needs a correction so that the chart can form naturally, not pump and dump,
I still believe in Bitcoin because Bitcoin's strong support is still not broken, so the bulls will take switch hopefully in June.

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Quote from: Semar Mesem on May 26, 2023, 08:50:01 AM

More than 2 months the price is below $30k, of course this is worrying because there is a chance the price will continue to fall, but if we look at the long term trend then the best thing for now is to hold, I plan to hold for at least another 6 years and won't panic if the price drop even below $10k.

Holding for 6 years is very possible if you have something that brings income to you and you didn't invest more than you can afford to lose in Bitcoin when it was at its peak. Many investors that came into the market during the peak are those worried.

Asking them to hold for 6 years or more 2 years is asking them for too much from their point of view since most of them thought they'll just invest and get profits the next few months. Some people believe Bitcoin will pump in 2023 but that's because they have no experience.

If Bitcoin price was to drop below $10,000 we shouldn't still panic instead use that opportunity to buy more Bitcoin and keep holding. When it's the bull market, we'll benefit from the decision we took of buying Bitcoin when everyone is panicking.

Kadal Ijo

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It's been more than 2 months the price hasn't gone up again, when it was March and the price could reach $30600, I was optimistic that the price would continue to go up and in May it could stabilize at $40k, unfortunately after the price was $30600 the price continued to decrease and now it's around $27k.

aksplace

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Quote from: someone703 on May 30, 2023, 06:02:45 PM

Why worry about this? Bitcoin cannot increase continuously; there must be a correction to be able to move on to the following paths. So this is also the accumulation period for a new pump, so the opportunity for investors to buy at this time can also be good. However, it can also be affirmed that it will continue to increase because the effects of the news brought to the market in recent times are not great. So wait for an explosion, as this will be a signal of which direction the bitcoin price will go in the next trend.

We must be aware that the price of bitcoin is volatile which creates price uncertainty under any circumstances, so a price correction now is an opportunity to increase investment, we have many options to buy Bitcoin and top altcoins to add to our portfolio, so avoid panic because a price correction in the crypto market does not make it's anyone's loss to stay holding on to BTC until the bullish season comes.

someone703

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Why worry about this? Bitcoin cannot increase continuously; there must be a correction to be able to move on to the following paths. So this is also the accumulation period for a new pump, so the opportunity for investors to buy at this time can also be good. However, it can also be affirmed that it will continue to increase because the effects of the news brought to the market in recent times are not great. So wait for an explosion, as this will be a signal of which direction the bitcoin price will go in the next trend.

Bitcoin2009

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It's been more than 2 months the price has fallen from $ 30k, many say that this year the market will be in the range of $ 20k to $ 30k so we have to be vigilant and always observe market conditions, but if we focus on long term investing then the best thing is to hold long-term.

Joshapat

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Didn't expect that more than 2 months the price could not go up or return to $ 30k, many were worried that the market would red again, but today the market rose by more than 3% and the price has reached $ 28k, and this makes me optimistic that in June the price could go back to $30k.

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Quote from: Paul Pogba on May 25, 2023, 08:09:22 AM

When the price rises too high, many people will sell because they feel they have made a big profit, the current price is around $ 26k and March is the highest price record because the price reaches over $ 30k, and when the price is low like this, the best thing is to buy more, don't miss this limited and short opportunity.

Those who have bought very low or those who are afraid to keep holding longer will probably sell if they think the price is good enough for them and they will get enough profit from their assets if they sell, but those that have their eyes on the bull run and a new all-time high and have diamond hands will always keep holding even if the price drops again after going significantly high.

And when there are dips, the thing is, not everyone can always buy more because they don't have liquid currencies that they can use to buy more Bitcoins or other cryptocurrencies, that is the reason why most part of the general public doesn't like dips.

carlfebz2

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Quote from: kamvreto on May 26, 2023, 09:19:45 AM

Quote from: Semar Mesem on May 26, 2023, 08:50:01 AM

More than 2 months the price is below $30k, of course this is worrying because there is a chance the price will continue to fall, but if we look at the long term trend then the best thing for now is to hold, I plan to hold for at least another 6 years and won't panic if the price drop even below $10k.

the plan to hold for 6 years seems to be quite long. are you going to buy now or already have enough Bitcoin. if your target is a long time ago, why don't you set a target price that you will achieve, or most easily target a new ATH. but if you hold on to 6 years it will be amazing. along the way you also need to make purchases regularly.

Holding for 6 years is really that a long time but we know that there are people who could really be able to stick into their plans and really able to accumulate and hold it up on long time manner.But if we do talk about

in my case on which i did make hold some bitcoins but i do really make out some sell when it do reaches out new peaks on which it would really be able for me to accumulate some stable coins or something not that volatile and im waiting for the bear market which means that it would really be ideal on buying on that time but of course since i do have able to benefit on the time of those pumps then i could really buy
even more coins which it would really be that advantageous for me.

Rinse and repeat, sounds easy right? But its not because there's no way to determine about peak and bottom prices and this would be the primary challenge on the time that you would really be engaging with this market. Now we are really that moving sideways and there's no way we could be able to tell whether we would be reaching out 30k again or would really be having this continuous sideways movements
which might last for months.

dragonvslinux

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Quote from: Semar Mesem on May 26, 2023, 08:50:01 AM

More than 2 months the price is below $30k, of course this is worrying because there is a chance the price will continue to fall, but if we look at the long term trend then the best thing for now is to hold, I plan to hold for at least another 6 years and won't panic if the price drop even below $10k.

I make it only about 5 weeks below $30K, but anyway this is somewhat besides the point. It turns out breaking through $30K and maintaining that level was never going to happen overnight, especially after an already 100% increase from the lows within a few months. This is now the 3rd week testing the 200 WMA as support, so if it holds, it won't take long to get back to $30K and above imo.

I however think there's more of a chance of coming down to $23K where there is a lot of accumulation volume before reaching higher levels. This is where the 200 Day MA is priced, as by comparison there isn't a lot of volume around $25K to act as support. Notably the 50 Week MA will be trending back upwards next week with price above it for the first time since 2021, so it seems that the bearish trend is more or less over.

Regardless, this doesn't mean price is in a full blown bull market, instead only that the bearish momentum for now has subsided. The possibility of further sideways consolidation remains quite high, now that the short-term bull run momentum has ended and the longer-term bear market is no longer valid. Either that or the market returns to bear, but personally I find this unlikely, especially looking at the stock market.

kamvreto

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Quote from: Semar Mesem on May 26, 2023, 08:50:01 AM

More than 2 months the price is below $30k, of course this is worrying because there is a chance the price will continue to fall, but if we look at the long term trend then the best thing for now is to hold, I plan to hold for at least another 6 years and won't panic if the price drop even below $10k.

the plan to hold for 6 years seems to be quite long. are you going to buy now or already have enough Bitcoin. if your target is a long time ago, why don't you set a target price that you will achieve, or most easily target a new ATH. but if you hold on to 6 years it will be amazing. along the way you also need to make purchases regularly.

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More than 2 months the price is below $30k, of course this is worrying because there is a chance the price will continue to fall, but if we look at the long term trend then the best thing for now is to hold, I plan to hold for at least another 6 years and won't panic if the price drop even below $10k.

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Quote from: Paul Pogba on May 25, 2023, 08:09:22 AM

When the price rises too high, many people will sell because they feel they have made a big profit, the current price is around $ 26k and March is the highest price record because the price reaches over $ 30k, and when the price is low like this, the best thing is to buy more, don't miss this limited and short opportunity.

It is natural that many people sell at high prices to take profits because that is the initial target of many people after buying at low prices. Although after that they also have to see another price drop to buy at a low price for further profits at another increase in the future. So there's nothing wrong with this because everyone who wants to make a profit will definitely take advantage of whatever moment they want to reach the target they have set before doing anything in the market.

carlfebz2

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Quote from: yohananaomi on May 24, 2023, 11:10:49 PM

Quote from: Sir Legend on May 02, 2023, 09:15:14 PM

I'm not worried about the current market conditions because I'm focused on long term hold, I bought bitcoin in 2021 when the price was expensive which is above $40k, until now I've only sold 2 times for around 30%, if the current bitcoin price is around $28k of course I'm going to lose and better be patient while waiting for price to pass ATH ever.

totally agree, you have done your best by buying btc and holding it, even though the price when buying is higher than now, but btc will be able to reach a renewed ATH after the halving period has passed. holding btc really takes patience so that what you want can be achieved because btc is indeed better for long-term investments, although it is possible that it can also be done for the short term, it will be just as profitable if you keep watching every movement. congratulations you just need to be patient at this time that next year has entered the halving period.

You could always have the option on making DCA if you've been able to buy on the higher price but the price keeps on going down.Well it isnt something that could be avoided for you not to worry considering that

your portfolio is really having those deep reds but if you do have that kind of trust into Bitcoin and really that confident just because you are investing on the amount that you can afford to lose then you wont really be having these kind of emotions and feelings on which you would really just simply tending to accumulate it while its still cheap. We know that this market does have its ups and downs on which it would really be normal that there would really be times or moments on which its price is really something like this. Yes, we do able to touch up 30k but it didnt really last that long on which it would really be just that normal
that we do have corrections and dumps.

Thing here is that you've been aware on how this market behaves or works because if you do find yourself that wont be able to handle out this volatileness then i could say that this market isnt really for you.

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When the price rises too high, many people will sell because they feel they have made a big profit, the current price is around $ 26k and March is the highest price record because the price reaches over $ 30k, and when the price is low like this, the best thing is to buy more, don't miss this limited and short opportunity.

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Quote from: Sir Legend on May 02, 2023, 09:15:14 PM

I'm not worried about the current market conditions because I'm focused on long term hold, I bought bitcoin in 2021 when the price was expensive which is above $40k, until now I've only sold 2 times for around 30%, if the current bitcoin price is around $28k of course I'm going to lose and better be patient while waiting for price to pass ATH ever.

totally agree, you have done your best by buying btc and holding it, even though the price when buying is higher than now, but btc will be able to reach a renewed ATH after the halving period has passed. holding btc really takes patience so that what you want can be achieved because btc is indeed better for long-term investments, although it is possible that it can also be done for the short term, it will be just as profitable if you keep watching every movement. congratulations you just need to be patient at this time that next year has entered the halving period.

Topic: Correction from $30K: Reason to worry? - page 3. (Read 1175 times)