Could this correction lead to a bear market for Bitcoin? - page 5.

sunsilk

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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?

Ride it and that's how bitcoin's volatility comes out as it's nature. You don't need to be too worried about the dip that just happened because it was an expected and timely dip to come when it didn't pushed through $43k.

As you see, $35k, then $36k and the it's $36,500. With what you've said that it will come into a quick return, that what just happened and if you're one of those who bought at $32k. Be happy and you're in profit again.

pooya87

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Bull market is just getting started so it can't just reverse trend 180 degrees. There is also no reason for the start of a bear market and it can't just start out of nowhere and for no reason!
Besides such drops are not really strange during bitcoin bull markets. Have you checked the charts yet? If you haven't I strongly suggest you do that, go to bitcoinwisdom.com or tradingview that have decent charts and look at the price movements during previous big bull runs such as the one in 2017. We had 20% to 40% drops regularly all through 2017 while price kept pressing upwards.

STT

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Quote

but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

That isnt really the case, BTC has dropped alot of times while rising over monthly views and 30% isnt especially alot in its history. What really matters more is the amount of time spent within a regular pattern of lower highs and lower lows. Somebody mentioned 2017 being full of sell offs, however it was also notable for holding the lows and that was the clue back then. I think it will take time to decide which is true but 4 years ago and now, I still think the lowest prices count for more then the peaks and froth that occurs on highs. The high makes the headline but the low does the work behind movement in most gains.

zanezane

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Quote from: rhomelmabini on January 11, 2021, 09:15:38 PM

There's isn't a healthy chart if it's always up, this is different from the 2017-2018 bear market and I wouldn't expect that to happen again.

I do think that having a valley in the market is a good thing to be honest which coincides with the statement above, if the prices are always skyrocketing then there will be no small time buyers which is counter productive to the mantra of bitcoin in the first place that it will free people from the shackles of financial institutions. I hope that it will really be different because the same pattern will only mean that anyone can simply predict the prices.

rhomelmabini

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No God or Kings, only BITCOIN.

Only weak hands could think of a bear market this day. Yeah we're heading towards a correction but that doesn't mean it's a bear market unless everyone has their own definition of a bear market like a -10% down. There's isn't a healthy chart if it's always up, this is different from the 2017-2018 bear market and I wouldn't expect that to happen again.

GreatArkansas

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A lot of people already claimed that the bear market already started even we just saw 3 days' red candles for Bitcoin.

Even major media company, CNN already claimed it: Bitcoin plunges more than 20% in three days. It's now in a bear market.
20% dumps within three days are kinda huge for this price of Bitcoin, but if you are in the market for previous market, these kind of dump percentages are common which I am sure that it will make you don't get panic easily.

TravelMug

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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.

Lol, just because we did to $30k means that the market has been taken over by the bears.

This is just he beginning of the bull run, definitely, a healthy correction will be seen along the way.

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?

What business as usual you are saying? That the price will go on parabolic rise? Nah, this market is still volatile and the price won't go on increasing months after months, sometimes it needs breathing room and that is what we are experiencing this week.

ultrloa

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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?

Just don't over react of the turn of events since sometimes it really happens but what's good happening there is the price remain at $35,000 and still the current price is so huge that's why we can still hope for pump. But let's not take out the possibilities of the bear market season so if I where you just watch the market closely and be careful for the movements to secure or do a stop loss if necessary.

Kelvinid

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win lambo...

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?

Could be right, or absolutely wrong?

Well, I don't mind if the market will get back into a long dipped once again after this long bullish season. All that possible and we can't hold that but this will not stop crypto lovers and holders to continue investing. It may be people now are learning how holding benefits a lot in the future.

Just to say that many are waiting for Bitcoin price to dump. If that to happen that long bearish will come, then people have a big chance to make full of their bags in preparation for the next ATH. $50k, $100k, that seems to be the next ATH.

thecodebear

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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?

1. That is overly dramatic.
2. No when Bitcoin has dipped this much in the past it has not led to a bear market. It only dipped 28%. 2017 had at least two ~42% corrections in the middle of its bull run that each took about 30-45 days to get back to pushing new ATHs (and this correction is likely to be much shorter lived because institutions are here to buy all this cheap coin).
3. This bull run has only just started. A prolonged bear market is the last thing you should be thinking about right now. IF there is a prolonged bear market after this bull run, it'll likely start towards the end of this year, many months from now.
4. This is just a normal correction, not even particularly deep, and actually very short in duration, if we've already seen the bottom at $30k. It's an opportunity for strong hands to pick up cheap dumped btc from weak hands. It is an opportunity to stack sats for wise investors.

bekti3

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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?

In my opinion, both ordinary business and doing business in cryptocurrency must exist and be used today. do not because the decrease in current is used as a reference that seems desperate.
As for preparing for the increase in bitcoin in the coming year, it really needs to be accompanied by encouragement for the business you run outside of bitcoin. bitcoin supply is still available, and miners use higher electricity. the whale prepared everything. it takes time and we have to keep going as it should.

Bergkampsballs

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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?

Topic: Could this correction lead to a bear market for Bitcoin? - page 5. (Read 921 times)