Correction is possible in bitcoin price? After 40,000$ - page 3.

bitgolden

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Quote from: benalexis12 on December 04, 2023, 09:32:57 AM

Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Honestly speaking, awhile ago, Bitcoin's ATH reached 41k more than today. And because of this event, many people lost money. That's how the market is; it's very difficult to predict its price in the current market.

Then one more thing: when we are basing it on a short timeframe, the risk is quite high. To be honest, you need a deep and broad knowledge of trading; you really can't be ignorant.

I would guess that going from 60k to 40k means it may go down more, going from 20k to 40k means it could go up more. Being 40k doesn't matter anything for the future, it could mean that it could go up even more, or it could go down, it all depends on the market movement and how it got there.

I believe, considering we are nearing triple the bottom, I could say that it is going to keep getting higher and higher. This is why I am still holding and the world will see another bitcoin all time high soon enough, by soon I do not mean anytime these days, I mean it may take a year to get there but we are going to definitely see it. This is why I believe correction will not happen, it is possible but I think it will do a lot better than that.

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000

Yes, potential drop is always there so as the potential continuous pump.

Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

do you believe it will continue its upward trajectory towards $50,000?

I believe in every possible action that bitcoin might do. It may go up as high as it can be or drop as low as we are not expecting it to be. That's what can happen to it so put every possibility on it and be prepared for the best because the worst might have happened already.

Erumo

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Who cares if there will be a correction or not. Either hold, or sell, or trade. No one would give you a correct answer what you should do with your crypto. There are no right or wrong decisions what to do with your crypto. Be your own boss and dont try to get rich fast.

benalexis12

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Honestly speaking, awhile ago, Bitcoin's ATH reached 41k more than today. And because of this event, many people lost money. That's how the market is; it's very difficult to predict its price in the current market.

Then one more thing: when we are basing it on a short timeframe, the risk is quite high. To be honest, you need a deep and broad knowledge of trading; you really can't be ignorant.

Questat

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Corrections are inevitable and it always happen after the pumps. But I don't think that the price of Bitcoin will be turning back too low again, we can call it short corrections over short pumps. That is what the market looks like but honestly, this is actually the reason why many people are here as they trying to catch the dump and sell when it pumps, and the cycle repeats again and again.

So I would say that we gonna expect changes in the market from time to time. Until the market moves in unpredictable directions, everything seems to be expected - up and down.

sheenshane

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Quote from: LogitechMouse on December 04, 2023, 08:10:02 AM

Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

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However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Going below $40,000 after reaching it, yes it might happen.
Revisiting the $30,000 price after reaching $40,000 or above it? I don't think so.

It seems we're more speculating now here in the trading discussion.
Normally, there's a correction right after the price increases even if we check the previous price graph.

However, as we know there are too many factors to consider when seeing the market sentiment, and as per see, people are in FOMO right now.
Yes FOMO, can drive prices higher, and when sentiment shifts, it can result in a correction as people rush to sell.

How many big investors have been investing in Bitcoin recently?

LogitechMouse

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

~
However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Going below $40,000 after reaching it, yes it might happen.
Revisiting the $30,000 price after reaching $40,000 or above it? I don't think so.

As I'm posting this, the price of Bitcoin is at around $41,500 already and there's no sign it going down at least for now. My first target has already been reached, and my 2nd price target is $45,000. I'm always optimistic, and bullish when we are in December, so I don't see Bitcoin reaching the $30,000 price after reaching $40,000. I guess my support for now is at $35,000. Small corrections are still possible though, especially in the next few days. I expect a downward movement after the price surge of Bitcoin in the past few days. Of course, there will be people who are selling at that price range.

It seems like the $40,000 price resistance isn't that strong enough for the bulls to be held back thus, we are seeing Bitcoin's price going above it for only a couple of days.

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Even this day for the moment, Bitcoin has touched $42,155 for its highest, of course this means it has exceeded the expected resistance. But of course, usually after there is a significant increase like this, there will be a market correction. And this definitely makes us need to be prepared to face any possibility of drastic price reductions too. It is also possible that later there will be sideways after the price falls at certain supports. Therefore, the point is that we have to remain alert and calm whatever the market conditions. However, the Bitcoin market remains volatile as always we have already know. So, don't panic when the market correction is coming.

adaseb

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If you look at any of the prior bitcoin bull markets right after it topped, you will see that it provided barely any dips. When the dip came, it was usually the peak of the cycle pretty much.

When bitcoin starts to pump, whenever you check the price it goes higher and higher and it’s hard to buy the dip. Eventually people get FOMO and they end up buying the top pretty much.

GreatArkansas

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

(....)
However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Psychological supports and resistance.
$40,000 is now acting resistance, and for me just in case we will stay above $40,000 for a while, then it will become support.
About the correction, $30,000 for me now will act as strong psychological support.

mirakal

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

Seeing a market price decline is always possible because of the highly volatile market. But what I'm seeing right now is more a consistent price increase that after reaching $40k, it will surpass another price surge until it reaches $45k and probably from there, we might start to see a market price decline that will test again the faith of early investors.

This is just my own prediction but it could also go the opposite way as it's still highly possible. Bitcoin's volatility makes it highly unpredictable, that's why keeping and hodling onto bitcoin is still the best weapon when price decline starts to appear.

Issa56

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

You are asking a question that everyone will like to know, but everyone is just predicting, and nobody is sure about what’s going to happen. Whenever there is an increase in bitcoin price, we are always expecting a correction to happen before bouncing back and even going higher. Since bitcoin price has gone up, there will definitely be a correction, but nobody knows what the price will drop to, and nobody knows when the correction is going to happen. But from my prediction, even if a correction is going to happen, bitcoin is going to hit $40,000 first, and from there we might be seeing the price dropping.

Bitcoin price prediction is kind of difficult. We might see unexpected good news that is going to pump the bitcoin price, and bad news might just end up dumping the market, so bitcoin price prediction is really difficult. You can’t be sure of your prediction because anything can happen at any moment.

jeraldskie11

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We can't predict the price movement of Bitcoin but we can forecast the price which gives possibility that the price will go to the specific level. I have tried to analyze the market but fortunately my analysis was materialized. Analysis is very powerful instrument to anticipate the price. I believe that when Bitcoin hits $45k the retracement will start. The market always look for a liquidity and the fair value gap can be defined as liquidity not only in swing points, so it's very possible for the price went that level before going down.

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

I'm optimistic to see a consistent price increase in the market, but it does not lost the fact that this volatile market is not free from any market correction or price decline for bitcoin. That's why I'm also open that this current price will suddenly drop again but I don't think it will drop below $30k again, most probably it will only range between $30k to $33k and then it might recover after couple of days.

However, we don't really hold the future for bitcoin. But one thing is certain, bitcoin will not frustrate us of its price most especially that we are looking forward for big events by early next year.

Bananington

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The price of BTC will still rise mostly as we anticipate the halving next year. Other events are also resultant in the hike in price such as may include the approval of ETF, ban of mixrs and more regulatory control over cryptocurrencies currently.
There should be no FOMO when it comes to HODLing as the bull run is still very much around and the value of it over time still pays better than as would alt coins over a duration of HODLing.

Captain Corporate

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I really do not think so, I mean we are getting to a point where its pure bull run and everyone is super excited to buy and wait for it to go up and the more time passes the more people buy and hold, so its just going up. I am not saying its not possible, in the sense that everything is possible so its not going to end up being anything crazy, it should be considering something that will benefit them in the end and should be all the way better. I think possibility is not what you should look at, what the results would be is a lot better, it could definitely be better if you think "what is more likely" type of way, instead of thinking what would be the possible result in this situation, and the answer is that its likely to go up even more.

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

If the bitcoin would cross mainly the $40k then we would see it in its height as more than $42k would be possible in the near future. But the thing is we should see its crossing the $40k.

Mostly seen that when the bitcoin has a rise in the price and when that rise go so high then there a dump came in between that in which mostly users got loss and all the market get into red mark.

I hope we would only see pump this time.

macson

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

the price of bitcoin could continue to rise to $50k or even fall back to $35k, so anything can happen to the price of bitcoin, the price of bitcoin will never be stable especially as we are approaching halving day, the price of bitcoin will definitely increase drastically and sharply.

Quote from: jens_akilssen on December 03, 2023, 09:56:33 AM

I read recent threads regarding halving-correction-december topics, general opinion is that even if correction taking place in December to 30K$ it might be traders taking profit at/from 40K level. People note that such market behaviour is natural and shall not scare you. Everybody (yes) agreed upon DCA technique, dollar cost average, to invest constantly (if you have money of course) no matter correction (or not) taking place, because anyway the price returns back to origin point (where the fall began). I personally waiting firstly xrp to rise little bit, lets say to 0.00002500 btc per 1 xrp because of xrp-valour-etp event (early december) and later move all in Btc. Btc is the only real valuable asset.

Swing trading is a good technique, but you have to be careful because even the slightest wrong step can make you make a big loss instead of a profit, estimate the right time to sell and buy because the fluctuation in the price of XRP is not as big as the fluctuation in the price of Bitcoin.

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Quote from: Rehan Zakir on December 03, 2023, 04:06:40 AM

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

The price surge could be attributed to the news of spot Bitcoin ETF approval that's in the offing or the forth coming Bitcoin halving. Whatever it might be, I believe we're all excited about the chart. Like you said the price has been hovering around 39,000 in the past few days and I think it's too early to say it's the new support level. I expect the price to push through to $43k in the next 60 days and maybe retrace to $41k or $42k, but I don't see it dropping down to $30k.

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somewhere around $42K i think before the correction happens but it might just take a little dip to $32k or maybe $30k before it spikes again. the halving seems a guarantee that a bull market will happen. whether the price hits $100k or not, that is one we will be looking to see.

because the institutions are already in crypto, we will probably be seeing a lot of pullbacks as a kind of manipulation. since they are up to gather more BTC, they will squeeze the market for traders to believe the price going down.

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