Topic: Correction in the next days? - page 3. (Read 699 times)

it can happen because the market is driven by money guys. If the long orders on margin trading are high, the sharks will sell and kill the Long and then it will cause the price of bitcoin to rise. In fact, the volume at margin exchanges like Bitmex, Bitfinex and Binance is huge and that's their main goal. The shark could earn millions in a few hours of such manipulation. So whatever happens in this market, we need a cool head to analyze.

I hope there will be a correction but a few more days later. Since there has already been a correction and now going up again. That means there will be no major corrections before halving. Because huge amounts of usdt are being injected in the market, which is controlling the price now. If you look at the marketcap of usdt then you will understand how much usdt is being printed everyday. They printing millions of usdt everyday. So I think bitcoin won't go into a big correction before halving.

There was no correction going on at the level people are thinking. We already had one that dropped the price from 9.4k levels to 8.8k levels and that was correction enough. If anything happens nowadays I am pretty sure it would be simply just bitcoin moving downwards normally, not a correction but just a sell off, and I do not see it happening anytime soon with the halving coming around neither. So, what happened already happened and right now its time for buyers once again.

Bear callers have been really dreaming about the drop in march and I get it, they have always been wanting bitcoin to fall in price and it did and they were very happy, but that period is now over, we were over 9k and still close to it now, so it is bulls time to show what they are made of.

Yesterday, bitcoin price can get dump although not much but that is worth to buy because today, the price is back to $8,900 and hopefully, the price can be back to $9,000 again. If the condition can be like this in the next week, then the price can have a chance to increase higher and maybe the price will increase more than $9k. But we still need to be careful because bitcoin can get another dump anytime.

That true correction for the next day after bitcoin raise up last days, always have moment after bitcoin pump will dump just wait when its happen, some time one day or several days later for bitcoin dump after break out higher price, but other time just few hour after up bitcoin go down.

The volatility will continue to exist as halving is near and also good time to people to buy during dips and book short term profits. Though for traders this could be risky yet rewarding if the buying/selling side is right with the markets move and could make some good money in this market.

The cost of Bitcoin rose significantly in late April, and then there was a correction of a whole thousand dollars. These are huge price fluctuations. The halving occurs only once every 4 years, so I think that during this period we will definitely not see a price flat. Price fluctuations are now inevitable.

But is it? And how would you ever know when it is?


So what? Lots of people think the halving will catalyze further price increase. Lots of people also thought they could buy in below $6K and are now chasing the market up. There is plenty of overlap between these groups. The mainstream media hype is an added bonus.


It's getting baked in. Plenty of bears were saying the halving was priced in at $7K. I certainly don't have evidence to prove them right.

I'm glad bitcoin is on the verge of 10k and holding what looks like a great support position. Hopefully everything is smooth and no FUD for the halving

Honestly the halving is meaningless but it creates a lot of talk and news which is great.

Yeah, and probably just another FOMO again, maybe newbies are caught and doesn't want to miss the boat so they fuel their funds on bitcoin market pushing the price again, above $9k. And as fast as it rose, the market goes down again around $700. The good thing is that at the current price, support is very strong and we might see this as up to the bitcoin halving date. Healthy correction, 10 days left before the halving, so I will be optimistic that there could be another push to hit that five digits again. But don't expect any all time high soon though, it will take some time after the halving.

We may still be in the state of FOMO as halving is really soon but correction may still be possible like what happened before. The price of bitcoin right now is not bad at all and correction might hurt a little but still, an all-time high may still compensate the changes in price regardless of whoever comes first ATH or correction. During this period of crisis every asset is valuable, however, changes on the price may also affect us but still people nowadays find cryptocurrency and BTC are more secured to invest with rather than investing in other businesses that are experiencing difficulties because of economic recession. Nevertheless, Corrections and ATH might be possible regardless of the time but cryptocurrency will definitely be able to recover faster than expected.

They always act in the unpredictable way, so if everyone expecting the price increase they may manipulate the price in opposite but due to corona the prices already went too deep now its starts to recover so I don't think whales will again manipulate downwards so if there is a correction it is supposed to happen.

Halving hype or correction from the fall, both are valid points and both could be the main reason for it, just sharing custody of the increase. The price was already around 9k levels when the corona virus panic all started, it bottomed at around 3.6k which we all knew was just way too undervaluing bitcoin, it bounced above 5k literally in a day, and tried to break over 6k for a week or so I think.

That means bitcoin did a recovery which could be called reverse correction, why wouldn't the price be high when the whole world is doing worse, plus countries printing money making their fiat worthless. So, I think that is a valid reason, but halving is getting close as well, there is like 10 days or so left, which means that is a valid reason to increase as well.

Any reason why the price rose for the last few days? It's just the same as when the price goes down. You can never truly tell what could happen. All I know is that there are millions of USDT injected again into the market and then the market risen above $9000. A correction for sure is about to happen and it's not because of the halving, but the people's decision.

Oh, it is so serious. Let us see what will happen in the next days. Meanwhile, you need to prepare your money to place your order at a low price so if there is a price dump for 10%, and you can buy bitcoin at a low price too. People can say anything they want, including to make a prediction to make people panic. But as long as you don't panic, and you can analyze the market, you will see what is going on in the market, and you can know what you need to do related to the current situations.

No one can predict the market so how do we get any price correction then? Whales doing could reflect in the market, yes, but I don't believe they are the ones behind your so called price correction. Whales are pretty clever coz they don't want their money to be liquidated, they won't let us guys gain from their money. Don't expect that much for the halving this year, the whole scenario is completely different from what we had back then, if we want to pump the price we are going to need a lot more than this but I think we are all scared to go for it.

I don't think the bolded is remotely accurate. Of course news can be priced in. The halving has been talking about for a very long time now, everyone in the market is aware it's coming. If nobody knew about it and then someone this week stumbled upon the halving in the code and the news spread and the market pumped then yeah sure that would be an obvious reason for a pump, but obviously that isn't the case. The halving as news is well baked in to the current price. There might be whales initiating pumps or dumps around the halving just because everyone is speculating what is going to happen so whales might play into that to create extra volatility and therefore profits. But the halving isn't suddenly making news that would drive up the price like that. And the halving as an actual event (not as a news story) is a non-event really, as its effects will be felt over the course of many months to come.

If the halving wasn't priced in until it occurs then the day of the halving we should see a huge pump that makes this look tiny. Of course, as explained above, that's not how things work.

Now, just to be clear, I'm not saying the halving narrative isn't playing any role. Sure people are excited about a rising price coming into this halving, but considering everyone already knows about it, no, the halving did not cause a 20% one-day spike in Bitcoin two weeks out from the event. There are much more reasonable and better arguments, like bitcoin correcting upwards for the vastly oversold panic sell of March as well as simply that the price broke through resistance so it pumped afterwards as you would expect it to do plenty of times in that situation. I mean hell the night before it happened I figured it'd probably pump well into the 8000s if it broke through ~7800 resistance because that's just how the market works, had nothing to do with the halving.

Like you say, its multiple angles, but the halving is only a small piece of that. I was responding to a comment that tried to lay halving hype as the whole reason for the pump, when it likely didn't really have anything to do with the pump at all. Sure the overall macro environment of the market is bullish due in large part because of the halving, but that is an environment that lasts for many many months, here we are talking about a discrete one day pump not the overall recovery from the bear market of 2018.

You should and you must have to expect that all the time. This kind of whales trick isn't something new to us, we have that before and that 2017 is showing how whales get huge participation to that unexpected dump. If we closely check the market movement, the market correction will possibly happen and I'm afraid how newcomers could deal with this thing knowing that they are expecting a lot for this halving.
Not only noobs should take this seriously but all of us. The market seems too tricky enough that might catch us someday.

Whether they initiate the pump, it's hard to tell whether they feel the FOMO or will they dump soon. The 9K resistance might prevent the breakout to further reach that 9400. I doubt the FOMO can help break it so the possibility for the price to dip to 8000 is high. $8k isn't even a strong support level.

But then I can say a good start for halving FOMO. After halving it will be another pump.

Nothing is priced in until it actually happens.

Every fifth post in my Twitter feed mentions the halving. Bloomberg and CNBC are talking about it. It's definitely being hyped. If nothing else, then the surge in longs can partly be attributed to it. Plenty of people are speculating on a price rise after halving.

You're probably right that whales initiated a pump and retail followed, but that's just one angle. The narrative of the halving also plays a role. So does the tight correlation with the stock market. So do the technicals.