Could this correction lead to a bear market for Bitcoin? - page 2.

pooya87

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Quote from: serjent05 on January 28, 2021, 06:07:13 PM

It has a slim chance for the Bitcoin market to fall below $20k this year since the Bitcoin market hype is still strong and there is yet a strong FUD that will turn the market upside down.

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.

serjent05

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It looks like the Bitcoin market is already recover after its dip to $30k. Sitting at the current price of $33k, I think we can see another sideways movement of the market before it started surging again until the next series of ATH breaking trends this year.

Quote from: pixie85 on January 23, 2021, 03:34:36 PM

I will not feal bearish until we break below 20 thousand. There are many levels from now to the bear market and this is a healthy correction as long as some of those levels are held.

It has a slim chance for the Bitcoin market to fall below $20k this year since the Bitcoin market hype is still strong and there is yet a strong FUD that will turn the market upside down.

Silberman

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Quote from: pixie85 on January 23, 2021, 03:34:36 PM

I will not feal bearish until we break below 20 thousand. There are many levels from now to the bear market and this is a healthy correction as long as some of those levels are held.

27 thousand is probably the first milestone and if we break below that there's going to be 22 thousand and then 19 thousand. If we can't hold support at that area around 19500 we'll probably go through a bear market gate into a long consolidation.

At this point I give it about 90% that we won't fall below 22 thousand before reaching a new high.

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.

lixer

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Quote from: Maslate on January 22, 2021, 06:04:27 PM

Bear market is the opposite of bull market, with bear market, we will see that bitcoin will struggle and the price will decline, the perfect example is what happened in 2018 after bitcoin and altcoins reach their new ATH. We might see it or not, but we should be ready of that as that is very much possible.

Why do you feel so pessimistic about bitcoin fall? I mean I never understood it so I am asking seriously without any joke. If you are feeling so pessimistic about bitcoin shouldn't you just sell all your coins and get out and never deal with bitcoin ever again? Why so down? I feel bitcoin may go down (or maybe not) but that would be correction and accumulation and price will go back up again. That is the case in most situations because we are talking about something a lot more valuable here, a long term benefit of having crypto over fiat.

People know that benefit and they do not get out too much, they just simply sell in order to rebuy at a better price but that's it, because they know they can't go to full fiat life since that is making them poorer and poorer, there is no way we could allow that to be fine. Long story short we are going to have a great future, do not be so pessimistic about it and hopefully you will see the benefits of crypto.

pixie85

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I will not feal bearish until we break below 20 thousand. There are many levels from now to the bear market and this is a healthy correction as long as some of those levels are held.

27 thousand is probably the first milestone and if we break below that there's going to be 22 thousand and then 19 thousand. If we can't hold support at that area around 19500 we'll probably go through a bear market gate into a long consolidation.

At this point I give it about 90% that we won't fall below 22 thousand before reaching a new high.

Silberman

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Quote from: ultrloa on January 19, 2021, 04:42:13 PM

Quote from: Silberman on January 19, 2021, 03:20:48 PM

The correction was necessary because the market was growing simply too fast, I understand that people get scared when the price goes down so quickly but it seems that the market is back to normal and I think we are going to see another attempt by the bulls to try to breach the 40k level once and for all and remain above it, however there is something that worries me, the bitcoin dominance has been going down, and while some may see this is a good thing because it may be an indication of an altcoin season I do not like this at all.

Your worried because it may cause the dump? Well don't be worried about those situation since if you see the bitcoin dominance go down it means the wealth of the traders has been shared to various altcoin and we can see now that the altcoin market is much good since many of them are pumping so good which many people tells that it's start of altcoin season. I believe this events cannot effect bitcoins so expect after this thing or even this season come up we can still see bitcoin climb back to $40k.

In a way that is why I'm worried, in 2017 we saw bitcoin skyrocketing but at the same time altcoins were going up even faster than bitcoin and this was mostly the product of speculation, in recent months we have seen bitcoin growing at a speed faster than altcoins but that growth was completely justified because of the policies that governments are taking during this pandemic, the fact that we are seeing the dominance of bitcoin going down tells me that speculation is once again taking hold in this market and that never ends well.

RealMalatesta

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Quote from: Wawa2013 on January 22, 2021, 05:03:22 AM

This is what makes investing in Bitcoin attractive, because its movements are difficult to predict. But if we look at the cause of the initial increase of Bitcoin is because many institutions invested in Bitcoin, looks like Bitcoin won't be correcting too deeply. A few hours ago Bitcoin dropped to a price of $ 29k, but it wasn't long before it was up again.

Even now it's back to the price of $ 31k, seeing this Bitcoin movement pattern indicates the price of Bitcoin support is quite strong at $ 29k- $ 30k. And it is impossible for an institution to invest in Bitcoin for the short term, so according to my prediction the Bitcoin price will likely be bullish and back to $ 40k again.

That support is usually caused by two things and I believe price will stay high as well just like you because of these two reasons.

One of them is there are huge corporations keep buying thousands of bitcoins and holding them nowadays, that is a great thing because we are talking about thousands of bitcoins removed from the market and that is a very important task, if we do not have those coins being sold on the market anymore, that means there are more buyers versus less sellers.

Secondly people have seen that bitcoin price could be so high, and when you see that you do not care about how much it falls, when it goes down you end up buying instead of selling, which helps it recover higher instead of go down lower, why do people do that? Because they know that buying would allow them to get richer when the price goes back up to what it used to be.

Maslate

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Quote from: SaveOurSea on January 22, 2021, 11:12:18 AM

correction is not for the bear market. but bitcoin price correction to make the market healthier,
it hurts to see the correction occur up to 10% more decline,
but that is what makes this crypto market interesting, many people are caught in the trap,
many people are making profit from it, the bull period is still happening, don't worry because correction will make bullish continue.

Bear market is the opposite of bull market, with bear market, we will see that bitcoin will struggle and the price will decline, the perfect example is what happened in 2018 after bitcoin and altcoins reach their new ATH. We might see it or not, but we should be ready of that as that is very much possible.

BITCOIN4X

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Quote from: Wawa2013 on January 22, 2021, 05:03:22 AM

This is what makes investing in Bitcoin attractive, because its movements are difficult to predict. But if we look at the cause of the initial increase of
Bitcoin is because many institutions invested in Bitcoin, looks like Bitcoin won't be correcting too deeply. A few hours ago Bitcoin dropped to a price of
$ 29k, but it wasn't long before it was up again.

Even now it's back to the price of $ 31k, seeing this Bitcoin movement pattern indicates the price of Bitcoin support is quite strong at $ 29k- $ 30k.
And it is impossible for an institution to invest in Bitcoin for the short term, so according to my prediction the Bitcoin price will likely be bullish and
back to $ 40k again.

It would be nice if the price could down to a lower level in the hope that more investors would buy more bitcoin to store in the long term. I might consider buying some bitcoin if the price drops back to the $25K level. But maybe it won't happen anytime soon as the support is still quite good at $30K. Currently bitcoin price is trading at $ 32K+, up a few percent since yesterday's decline.

SaveOurSea

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correction is not for the bear market. but bitcoin price correction to make the market healthier,
it hurts to see the correction occur up to 10% more decline,
but that is what makes this crypto market interesting, many people are caught in the trap,
many people are making profit from it, the bull period is still happening, don't worry because correction will make bullish continue.

Wawa2013

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This is what makes investing in Bitcoin attractive, because its movements are difficult to predict. But if we look at the cause of the initial increase of
Bitcoin is because many institutions invested in Bitcoin, looks like Bitcoin won't be correcting too deeply. A few hours ago Bitcoin dropped to a price of
$ 29k, but it wasn't long before it was up again.

Even now it's back to the price of $ 31k, seeing this Bitcoin movement pattern indicates the price of Bitcoin support is quite strong at $ 29k- $ 30k.
And it is impossible for an institution to invest in Bitcoin for the short term, so according to my prediction the Bitcoin price will likely be bullish and
back to $ 40k again.

rodskee

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Quote from: Bergkampsballs on January 11, 2021, 03:26:45 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?

Sorry but i don't see any correlation at all on that matter ? and 32$k never become the ATH because we have seen 43k near after New Year and actually what we are looking at is the breaking of the last Barricade and that is 45,000$ .

What i see here is Corrections and attempt to Dump bitcoin price by manipulators , but their problem now is that there are institutional investors that hinders their motive , Not like 2017 that in 2018 they easily move the prices ups and downs while now they cannot.
Because real investors are not their clown here and seems that they are being over powered by truthful investors.

arwin100

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Quote from: coin-investor on January 21, 2021, 02:40:48 AM

Quote from: Bergkampsballs on January 11, 2021, 03:26:45 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?

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

This is more ideal thing to do rather than holding and worrying the risk beneath on doing it and this is advisable for newbie traders so that they can be trained to have a patience on certain movements and earn little by little from it. But I'm expecting that we will not get a the same track on what happen on last 2017-2018 since I really believe that the current achievements of bitcoin together with the entities of institutional investor for sure it will got a huge support and can never be dump more harder than we cannot imagine.

PerfectCircle

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Quote from: darewaller on January 22, 2021, 03:03:04 AM

Quote from: coin-investor on January 21, 2021, 02:40:48 AM

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

What people should have learned during this period would have been DCA because that is how you saved yourself during 2018 as well. If you got in at peak 2017 and kept buying once every month until this month, you would have been rich, and if you got in during 2017 peak all-in and never bought again, you would have still doubled if you waited this long as well but it would have been harder to wait I understand that.

So long story short if you can buy right now, and it crashes? You could always go ahead and buy some more, dropped to 25k? Buy some more, dropped to 15k? Buy a lot more, dropped to 5k? Buy as much as you can afford. There is no reason not to buy right now, the only bad thing about current situation would be to not buy more and more in the future, that is irrelevant to you buying right now or not, because keep buying is a thing you should always do.

A good advice indeed but only for those who are ready for long term holding, if you are someone who is just here to take advantage of the market and make some sharp ROI I would advice to be extremely careful, in such case I will only enter the market if I notice any recovery, we don't know when this bullrun will make a stop, it's certain that bear market will forever be here

darewaller

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Quote from: coin-investor on January 21, 2021, 02:40:48 AM

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

What people should have learned during this period would have been DCA because that is how you saved yourself during 2018 as well. If you got in at peak 2017 and kept buying once every month until this month, you would have been rich, and if you got in during 2017 peak all-in and never bought again, you would have still doubled if you waited this long as well but it would have been harder to wait I understand that.

So long story short if you can buy right now, and it crashes? You could always go ahead and buy some more, dropped to 25k? Buy some more, dropped to 15k? Buy a lot more, dropped to 5k? Buy as much as you can afford. There is no reason not to buy right now, the only bad thing about current situation would be to not buy more and more in the future, that is irrelevant to you buying right now or not, because keep buying is a thing you should always do.

coin-investor

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Quote from: Bergkampsballs on January 11, 2021, 03:26:45 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?

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

darewaller

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Quote from: btc_angela on January 20, 2021, 04:04:33 AM

Quote from: thecodebear on January 19, 2021, 04:03:58 PM

Nothing wrong with altcoins getting some time in the sun. Panic selling retail investors are selling bitcoin and buying alts so we get a little altcoin season. Meanwhile institutions are buying heavy into Bitcoin. It's only a matter of time until Bitcoin heads back over $40k and continues on upwards, at which time the scared retail investors will pile back into Bitcoin as well.

And I would say it's good to see some alt coins getting into a bull run as well, so that this market will remain healthy to some extend. We are still above the $1 trillion market cap and bitcoin 65%, so it slashes 5% at least and the money goes to altcoin.

But then again, there could be time that the altcoin investors would go back to bitcoin to push the price to $40k-$50k. Currently the price is stable along the $35k boundaries so we are all good.

Alts have been doing fine in fiat currency but they have been killed in the bitcoin drops lately, it was nice to see them recover a bit. Ethereum either reached or barely touched the all time high price for example, now it looks lower once again but it was at least there for a moment. I believe when alts start to go up, it usually means that bitcoin increase is stopping or slowing down, which is why I wasn't sure about the situation and if I should be happy about it.

In 2017 peak and afterwards when the price of bitcoin stayed or went low that meant alts went up, they all had their best periods during those times, for example December 2017 was peak of bitcoin but 13th of January was the peak of ethereum, it got higher thanks to bitcoin going lower, but after a while ethereum started to fall as well. That is why I am a bit scared if we are there right now.

Baofeng

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I don't think this is a bearish signal, people just liquidated at the top and that's it. Besides at $30k a pop, bitcoin is still way ahead of the prediction at the start of 2021. We even have a thread wherein many predicted that the top price at end of 2020 is $16k, many voted for it. But look at the price today, it doubled what we have expected. So this is just a normal correction, a process that we need to undergo as this market is really volatile and unpredictable. So are still very bullish and a possible break out might happen next month.

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Quote from: Finestream on January 13, 2021, 09:09:29 AM

Quote from: Bergkampsballs on January 11, 2021, 03:26:45 PM

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

Honestly, it's hard to answer this, ride with it? No, yeah, it's a no for me, bitcoin already hit a new ATH, and I think it will dump for sometime before it will start rising again, and seeing bitcoin still at over $30k, I think we can still see more correction to come.

The thing is it still stay at $30k now, had little swings but no significant price movement is happening. After the fall, bitcoin already struggle to come bake at $40k trading price, so probably you are right that it's due for a deeper correction and we might see it anytime soon.

Quote from: STT on January 19, 2021, 05:24:43 PM

but we haven't received any bump or negative sentiment sell off from main markets so it remains untested imo

This is what we needs to see in order to conclude that a huge correction is going to happen, until now there's no signs yet.
However, we can't be just complacent because as we are surprised to see this huge run, a huge correction might also happen without us seeing it coming.

btc_angela

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Quote from: thecodebear on January 19, 2021, 04:03:58 PM

Quote from: Silberman on January 19, 2021, 03:20:48 PM

Quote from: Bergkampsballs on January 11, 2021, 03:26:45 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?

The correction was necessary because the market was growing simply too fast, I understand that people get scared when the price goes down so quickly but it seems that the market is back to normal and I think we are going to see another attempt by the bulls to try to breach the 40k level once and for all and remain above it, however there is something that worries me, the bitcoin dominance has been going down, and while some may see this is a good thing because it may be an indication of an altcoin season I do not like this at all.

Nothing wrong with altcoins getting some time in the sun. Panic selling retail investors are selling bitcoin and buying alts so we get a little altcoin season. Meanwhile institutions are buying heavy into Bitcoin. It's only a matter of time until Bitcoin heads back over $40k and continues on upwards, at which time the scared retail investors will pile back into Bitcoin as well.

And I would say it's good to see some alt coins getting into a bull run as well, so that this market will remain healthy to some extend. We are still above the $1 trillion market cap and bitcoin 65%, so it slashes 5% at least and the money goes to altcoin.

But then again, there could be time that the altcoin investors would go back to bitcoin to push the price to $40k-$50k. Currently the price is stable along the $35k boundaries so we are all good.

Topic: Could this correction lead to a bear market for Bitcoin? - page 2. (Read 921 times)