Could this correction lead to a bear market for Bitcoin?

FanEagle

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Quote from: Reatim on February 11, 2021, 09:01:36 PM

Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

actually this even make the way to another ATH time and time again , Look at it now mate as the value reached another All Time High at almost 49k dollars.

after falling to 28k level in January , now it is a on the road to 50,000$

Of course ATH makes way for new ATH, that is how the system works right now thanks to all the hype and all the love it is getting, I enjoy it very much as well. When there is a correction, you get rid of the people who think bitcoin became as big as it could get and they feel like they should sell and get out and that is what they get from it, I personally believe that is wrong and I do not think that bitcoin has a "top" price, it will always go up, but when we get rid of those people, there are many more people who think like me left in the market, which causes it to go higher and higher and reach to nearly 50k levels.

This is something we should enjoy very much because as long as there are less and less sellers in the market, that means the price will go higher and higher. Hopefully we will see 100k+ this year, that is what I am hoping for.

Reatim

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Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

actually this even make the way to another ATH time and time again , Look at it now mate as the value reached another All Time High at almost 49k dollars.

after falling to 28k level in January , now it is a on the road to 50,000$

Quote from: Zemomtum on February 05, 2021, 07:59:32 PM

Bitcoin will do something unexpected this year as it will not do correction deeply as most people expected. There will be a lot of surprises while most of the altcoins will suffer for it.

Seems like this is starting and the Unexpected to be expected now, Hope will have justice now to take the 100k before 1st quarter ends.

Twinkledoe

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Quote from: Shasha80 on February 11, 2021, 07:57:45 PM

What the opening post worries about that Bitcoin will soon enter a bear market is not proven. Even the increase in the price of Bitcoin is now
unstoppable, Bitcoin continues to reach the new ATH price. But still Bitcoin is a high risk investment, because the price of Bitcoin can fall
at any time. So always use stop-losses when investing in Bitcoin, although based on my analysis it is likely that the Bitcoin price will continue
to rise in the near future.

What we have achieved in these 2 months, is actually great already. So even if there is correction, it will not go down hard as before. There are so many stakeholders and big names that are into crypto already. I don't think we will experience the 5-10k level again. Hopefully.
Bitcoin's rise will not rise forever, so at some point, it will go down. But I believe, it will not be down as before. We already surpassed 30k and it would be hard to go down again to 20k.

Shasha80

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What the opening post worries about that Bitcoin will soon enter a bear market is not proven. Even the increase in the price of Bitcoin is now
unstoppable, Bitcoin continues to reach the new ATH price. But still Bitcoin is a high risk investment, because the price of Bitcoin can fall
at any time. So always use stop-losses when investing in Bitcoin, although based on my analysis it is likely that the Bitcoin price will continue
to rise in the near future.

Hippocrypto

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Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Most situations that I seen right now on bitcoin was slight fluctuations compared from those days of bearish market. ATH was still ranging from time to time, recovery is faster than declining behavior of bitcoin market. What we're seeing these days is the activities that the people has been showing to us, and as part of the community in which business was running successfully; preparation is needed before possible dips will happen.

Cherylstar86

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Quote from: StreakW on February 11, 2021, 04:26:40 PM

Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

You are so dramatic, and what kind of business usual do you mean?? I hope you keep watching the bitcoin price and your drama is over now. I suggest for you stop be panic if you see a drop in price because this is so natural and every coin (except shitcoin) will dump to prepare the big increasing

No drama can change the perspective that we had with bitcoin right now, reality was speaking for the truth. What we need to do now is avoid panic, because that emotions would lead to devastating and wrong decisions. Talking about dumping has nothing to do with small fluctuations, and if you're having enough asset; take time to relax and wait until it's time to sell.

StreakW

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Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

You are so dramatic, and what kind of business usual do you mean?? I hope you keep watching the bitcoin price and your drama is over now. I suggest for you stop be panic if you see a drop in price because this is so natural and every coin (except shitcoin) will dump to prepare the big increasing

SquallLeonhart

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Quote from: carlfebz2 on February 03, 2021, 03:56:15 PM

We cant really just see a market that would just continue to rise.There would be always a correction that lies ahead thats why its better to secure things up rather
than making yourself missing out those profit opportunity that you had already made.

For now the bullish movement is still great but i wont be surprised if the trend would really shit in other way around.Neither those dominances would go
up together or would go to the opposite it doesnt matter because things can happen without knowing it.

So its be better to be wise and watchful on possible things that might happen.

Acting before something happens is the problem most people have, of course watch the markets and be careful about what could happen but that is something you do when you realize there is a movement and something is off, that is when you "react" to it because reacting means acting after something is going on. However there are too many people who think they are very clever and act beforehand and get out thinking it will go down or buy because it will go up without the price actually doing something, at that point it is a problem because if you move without market moving that means you are not reacting, you are just acting.

If you do that without having too much experience in crypto, I think it is not going to be profitable, in fact you will probably end up losing money from it. Obviously nobody could guarantee profit either way but I would say do not move before market moves.

Finestream

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Quote from: Zemomtum on February 05, 2021, 07:59:32 PM

Bitcoin will do something unexpected this year as it will not do correction deeply as most people expected.

How can we assure that, the run in 2017 seems to be the same this year, the only difference is the based amount, if I'm not mistaken, the run in 2017 started at $1k and end almost $20k, this time at $5k I believe, so it has not x10 or x20 yet.

Quote from: Zemomtum on February 05, 2021, 07:59:32 PM

There will be a lot of surprises while most of the altcoins will suffer for it.

it's not a surprise that altcoins are suffering, but it's still good because some major and legit altcoins are having a bullish run as well.

Zemomtum

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Bitcoin will do something unexpected this year as it will not do correction deeply as most people expected. There will be a lot of surprises while most of the altcoins will suffer for it.

carlfebz2

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Quote from: Silberman on February 03, 2021, 10:54:07 AM

Quote from: lixer on January 29, 2021, 02:33:27 PM

Quote from: Silberman on January 28, 2021, 05:30:09 PM

I even doubt that we are going to see a price as low as that, however the dominance of bitcoin is going down once again which means that there is some money going out of bitcoin and finding its way to altcoins and this is never a good thing, not because I hate altcoins but because sooner or later this means that speculation is taking over the market and while this may make the price of all assets on the market to go up at the same time a significant crash will most likely follow.

I believe the reason why there is money going from bitcoin to altcoins is that there are too many people who think bitcoin did increased as much as it can, maybe it could be 40k or even 50k but that is not going to be too much whereas with the same amount of money used for some altcoin we could have 2x or even 3x increases which is the point of trading.

I am not saying this is a good idea but I know a lot of people and communities that believes this and that is why they do it. If they could put 10 billion dollars collectively into bitcoin, they could maybe make it go 2x, if they put that into ethereum they could 4x and if they do it on doge they could easily 20x and that is why people are moving towards altcoins. Look at what doge did after few tweets, you think that is sustainable? It is not but it shows the world that it is that simple to increase the price.

I know that economically it make sense however the reason this worries me is that when the price of bitcoin is going up and its dominance is going up as well this is most of the time a sign the growth is robust and that it is fundamentally based but when we see altcoins going up faster than bitcoin that is a sign that speculation has taken over the market and while the price of most coins will go up at that point at an even faster phase this just means that sooner or later a crash will come.

We cant really just see a market that would just continue to rise.There would be always a correction that lies ahead thats why its better to secure things up rather
than making yourself missing out those profit opportunity that you had already made.

For now the bullish movement is still great but i wont be surprised if the trend would really shit in other way around.Neither those dominances would go
up together or would go to the opposite it doesnt matter because things can happen without knowing it.

So its be better to be wise and watchful on possible things that might happen.

Silberman

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Quote from: lixer on January 29, 2021, 02:33:27 PM

Quote from: Silberman on January 28, 2021, 05:30:09 PM

I even doubt that we are going to see a price as low as that, however the dominance of bitcoin is going down once again which means that there is some money going out of bitcoin and finding its way to altcoins and this is never a good thing, not because I hate altcoins but because sooner or later this means that speculation is taking over the market and while this may make the price of all assets on the market to go up at the same time a significant crash will most likely follow.

I believe the reason why there is money going from bitcoin to altcoins is that there are too many people who think bitcoin did increased as much as it can, maybe it could be 40k or even 50k but that is not going to be too much whereas with the same amount of money used for some altcoin we could have 2x or even 3x increases which is the point of trading.

I am not saying this is a good idea but I know a lot of people and communities that believes this and that is why they do it. If they could put 10 billion dollars collectively into bitcoin, they could maybe make it go 2x, if they put that into ethereum they could 4x and if they do it on doge they could easily 20x and that is why people are moving towards altcoins. Look at what doge did after few tweets, you think that is sustainable? It is not but it shows the world that it is that simple to increase the price.

I know that economically it make sense however the reason this worries me is that when the price of bitcoin is going up and its dominance is going up as well this is most of the time a sign the growth is robust and that it is fundamentally based but when we see altcoins going up faster than bitcoin that is a sign that speculation has taken over the market and while the price of most coins will go up at that point at an even faster phase this just means that sooner or later a crash will come.

Becky666

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Quote from: virasog on January 30, 2021, 11:32:22 AM

Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

As long as we are above 30,000$, we remain in bull market. If we broke the support of 30K, we probably will head towards 20 K and it might be a sign of bear market being starting. However i am hopeful that bitcoin will not break the support and will continue to move upwards towards ATH in February.

Sincerely, we are just about to start bull run base on the recent happenings in the world of cryptocurrencies, the $30k seem to us as a very strong support as bitcoin price hitted that and bounced back to normalcy severaly. Let be clear now, there might be something drastic that will ever made bitcoin to hit $20k again and not even the enemies of my enemies.

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Quote from: eaLiTy on January 30, 2021, 01:24:43 PM

Quote from: KTChampions on January 29, 2021, 07:24:09 PM

What can you say about those buyers who used margin trading or bought bitcoin with borrowed funds? If their share is large, then your reasoning will not work because in a falling market (if this process is long) they will have to sell their bitcoins to cover their debts. Therefore, the price of 20k is theoretically quite probable, there is no fundamental reason not to consider such a development of events.

During the last rally there were new investors who were trying to ride the market and investing using their credit cards and some of the banks started blocking the purchase of BTCitcoin with credit cards and it was evident that many burned their money when the correction started. People should learn the lesson about riding the market using borrowed funds as it might not end well.

Any seasoned investor knows this, there is no point in dispute. I am only stressing that the reality is that the "old" reasoning may not work and therefore, in fact, we can see any "stupid" price in a bear market. Bitcoin has become a part of the global economy, sometimes it is absurd.

hatshepsut93

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If 30k will be broken, you could be almost certain that the market turned bearish and that 42k was the top, the chart already looks a lot like the bubble that has popped. I always though that with time bubbles will get smaller and smaller, because more investors learn about Bitcoin, halvenings become smaller, and there are expectations for this bubble behavior. I don't want to be right with this prediction, because I'd still love to see the higher price, but the downside possibility seems to be very likely.

eaLiTy

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Quote from: KTChampions on January 29, 2021, 07:24:09 PM

What can you say about those buyers who used margin trading or bought bitcoin with borrowed funds? If their share is large, then your reasoning will not work because in a falling market (if this process is long) they will have to sell their bitcoins to cover their debts. Therefore, the price of 20k is theoretically quite probable, there is no fundamental reason not to consider such a development of events.

During the last rally there were new investors who were trying to ride the market and investing using their credit cards and some of the banks started blocking the purchase of BTCitcoin with credit cards and it was evident that many burned their money when the correction started. People should learn the lesson about riding the market using borrowed funds as it might not end well.

virasog

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Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

As long as we are above 30,000$, we remain in bull market. If we broke the support of 30K, we probably will head towards 20 K and it might be a sign of bear market being starting. However i am hopeful that bitcoin will not break the support and will continue to move upwards towards ATH in February.

worle1bm

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Quote from: Bergkampsballs on January 11, 2021, 04:26:45 PM

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

It's a correction period so do not compared them with the bearish trend of the market because we are still trading at $35k above so which means bears have manipulated the market at this price levels?We have already left the bearish market trend in the past year when they were struggling to rise above the $15-$17k and they have gained enough in that time but now it's time for bull run and from now on we will see price surge in the market and $45000 soon will hit the graphs so don't be drastic about its growth and let bearish market to manipulate the emotional feelings of individuals.

KTChampions

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Quote from: pooya87 on January 29, 2021, 03:25:18 AM

FUD during bull markets can only slow down the rise and deepen the correction size (for example 30% instead of just 10% correction that we had recently). What they can never do is reverse the trend and turn it "upside down". The buyers may stop buying during the panic sell but they don't go away, they start buying more the lower price goes and eventually the effects of the FUD wears off and the price starts going back up again.

That's the main reason why silly prices like $20k (like $1k when we were in $3k) is impossible even though many were blowing their birthday candles wishing for it.

What can you say about those buyers who used margin trading or bought bitcoin with borrowed funds? If their share is large, then your reasoning will not work because in a falling market (if this process is long) they will have to sell their bitcoins to cover their debts. Therefore, the price of 20k is theoretically quite probable, there is no fundamental reason not to consider such a development of events.

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Quote from: Silberman on January 28, 2021, 05:30:09 PM

I even doubt that we are going to see a price as low as that, however the dominance of bitcoin is going down once again which means that there is some money going out of bitcoin and finding its way to altcoins and this is never a good thing, not because I hate altcoins but because sooner or later this means that speculation is taking over the market and while this may make the price of all assets on the market to go up at the same time a significant crash will most likely follow.

I believe the reason why there is money going from bitcoin to altcoins is that there are too many people who think bitcoin did increased as much as it can, maybe it could be 40k or even 50k but that is not going to be too much whereas with the same amount of money used for some altcoin we could have 2x or even 3x increases which is the point of trading.

I am not saying this is a good idea but I know a lot of people and communities that believes this and that is why they do it. If they could put 10 billion dollars collectively into bitcoin, they could maybe make it go 2x, if they put that into ethereum they could 4x and if they do it on doge they could easily 20x and that is why people are moving towards altcoins. Look at what doge did after few tweets, you think that is sustainable? It is not but it shows the world that it is that simple to increase the price.

Topic: Could this correction lead to a bear market for Bitcoin? (Read 871 times)