Could this correction lead to a bear market for Bitcoin?

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: Reatim on February 11, 2021, 08:01:36 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?

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

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

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?

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, 06:59:32 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

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: Shasha80 on February 11, 2021, 06:57:45 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

sr. member

Activity: 1876

Merit: 318

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

sr. member

Activity: 1484

Merit: 277

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?

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

sr. member

Activity: 1484

Merit: 253

Quote from: StreakW on February 11, 2021, 03:26:40 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?

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

full member

Activity: 1189

Merit: 107

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

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?

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

legendary

Activity: 2464

Merit: 1102

Quote from: carlfebz2 on February 03, 2021, 02:56:15 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

hero member

Activity: 3052

Merit: 606

Quote from: Zemomtum on February 05, 2021, 06:59:32 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, 06:59:32 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

full member

Activity: 1316

Merit: 104

CitizenFinance.io

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

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: Silberman on February 03, 2021, 09:54:07 AM

Quote from: lixer on January 29, 2021, 01:33:27 PM

Quote from: Silberman on January 28, 2021, 04:30:09 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

legendary

Activity: 2534

Merit: 1338

Quote from: lixer on January 29, 2021, 01:33:27 PM

Quote from: Silberman on January 28, 2021, 04:30:09 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

full member

Activity: 756

Merit: 231

Quote from: virasog on January 30, 2021, 10:32:22 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?

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.

KTChampions

legendary

Activity: 2478

Merit: 1951

Leading Crypto Sports Betting & Casino Platform

Quote from: eaLiTy on January 30, 2021, 12:24:43 PM

Quote from: KTChampions on January 29, 2021, 06:24:09 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

legendary

Activity: 3024

Merit: 2148

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

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

Quote from: KTChampions on January 29, 2021, 06:24:09 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

legendary

Activity: 3136

Merit: 1172

Leading Crypto Sports Betting & Casino Platform

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?

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

full member

Activity: 1834

Merit: 166

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?

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

legendary

Activity: 2478

Merit: 1951

Leading Crypto Sports Betting & Casino Platform

Quote from: pooya87 on January 29, 2021, 02:25:18 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.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: Silberman on January 28, 2021, 04:30:09 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.

pooya87

legendary

Activity: 3472

Merit: 10611

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

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

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

legendary

Activity: 2534

Merit: 1338

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

hero member

Activity: 2688

Merit: 588

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

hero member

Activity: 2184

Merit: 531

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

legendary

Activity: 2534

Merit: 1338

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

legendary

Activity: 2338

Merit: 1124

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

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

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

legendary

Activity: 1974

Merit: 1150

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

full member

Activity: 910

Merit: 100

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

sr. member

Activity: 1666

Merit: 268

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

full member

Activity: 2520

Merit: 204

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

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

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

member

Activity: 252

Merit: 11

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

hero member

Activity: 2926

Merit: 640

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

hero member

Activity: 3024

Merit: 614

Leading Crypto Sports Betting & Casino Platform

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

hero member

Activity: 2926

Merit: 640

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

legendary

Activity: 2576

Merit: 1655

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.

Maslate

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

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

hero member

Activity: 2660

Merit: 551

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.

STT

legendary

Activity: 4102

Merit: 1454

Price is slowing down and the more moderate the correction the less likely it would seem to lead to a bigger correction. It could be a completely boring declie of 40% from the peak but thats not the big negative most would fear, could be far less then that or some would say a slow small pullback suggests we go higher with no overall bear effect at all. Indication at the moment is slowing fairly steady market, but we haven't received any bump or negative sentiment sell off from main markets so it remains untested imo

ultrloa

legendary

Activity: 2758

Merit: 1228

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.

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.

thecodebear

hero member

Activity: 2240

Merit: 848

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.

Silberman

legendary

Activity: 2534

Merit: 1338

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.

blckhawk

sr. member

Activity: 1554

Merit: 334

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?

Having correction doesn't mean we are about to enter the bear market. Honestly, it can bounce back and I think that is what exactly happening right now. I also don't think institutions are done accumulating so perhaps there's a chance that the rally would last more longer. Furthermore, corrections are healthy for the market so don't fear them in fact you can turn it on your side like you could buy as well. The bear market will only enter if whales and institutions reach their target price to dump all of their holdings.

Saisher

full member

Activity: 2324

Merit: 175

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?

A lot have happened after your post so far Bitcoin price is doing good and keeps setting new record and hopefully it will continue to perform better for the whole first quarter, there are no indication if the correction will lead to a bear market, there are no bad news that can affect investor's trust in the market, the motivation to buy is still there.

sayaya17

sr. member

Activity: 1638

Merit: 255

We all know that crypto is volatile. The decline when bitcoin is at its peak is commonplace, so don’t make that up because of the decline in bitcoin you become discouraged. The decline that is happening now is an opportunity to buy back bitcoin at a cheap price, and it’s an opportunity to make a big profit again, having sold at the current height of bitcoin bullrun. But in reality bitcoin does not lower its price to very low. We can see the price of bitcoin today is $37k.

magneto

hero member

Activity: 1666

Merit: 753

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?

Unfortunately, you are being overdramatic.

If you just roughly gauge the market sentiment you'll quickly realise that people are still extremely bullish. And looking back at longer term historical trends, they have very good reason to.

This is a classic post-halving pump that occurs every four years or so, and generally lasts 1-2 years before a major bear market takes over again.

With such strong fundamentals this time round and a very fragile fiat global economy, it is seriously a perfect storm. These corrections along the way are not only expected, but probably healthy to flush out the weak hands in the short term.

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: Ridwan Fauzi on January 13, 2021, 10:25:29 AM

Yes there is a sign, you can see the weekly time frame the previous candle has been closed by the red candle (this week candle). Although the current candle is still run for 4 days left I don't think it can be closed in the green candle, other than that I see in the fundamental factor some countries started giving a vaccine for their people. Which can make their economy run normally, at least there is no worry to stop their activities. A good information from all countries in this world will make bitcoin fall because some investors will take the money and save in their bank account again.

On contrary the good information from the nations do not make crypto fall, for example if you checked the summer and what happened, the first wave was over and everyone went back to work and companies started to make a ton of profit, stock markets rise incredibly, people were back to their regular lives, summer passed like that, what happened? Bitcoin increased a lot.

Economy not being good is a lot more important for bitcoin and it allows it to go up, but more people have more they end up using it to buy bitcoin as well so that helps bitcoin too.

Bitcoin doesn't go up or down depending on how the economy is doing, it goes up and down according to what people want to invest into and if people like to invest into bitcoin the price goes up, this could be at any moment, doesn't need to be good or bad, as long as they want in, we will go up with all the money going into bitcoin.

darewaller

hero member

Activity: 2926

Merit: 640

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?

Could it? Of course it could have, but it looks like it is not going that direction at all. I personally think there is really nothing to worry about as of right now, as you can see things are doing great and price recovered a lot anyway, so we are doing quite well.

However we are still not sure about how good we will go and how long it will go on neither, maybe it will be great for now, maybe it will be good for a while, maybe it will do another round of correction, we really don't know what is going to happen and when it will happen. This is why I suggest everyone to stay away from going all in, there is no reason why people should go in, it is smarter to put in a bit of money now, a bit of money later, wait a bit to see what is going on, that way you would be a lot better in the end, and that is what I think should every investor do during these type of movements.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Yes there is a sign, you can see the weekly time frame the previous candle has been closed by the red candle (this week candle). Although the current candle is still run for 4 days left I don't think it can be closed in the green candle, other than that I see in the fundamental factor some countries started giving a vaccine for their people. Which can make their economy run normally, at least there is no worry to stop their activities. A good information from all countries in this world will make bitcoin fall because some investors will take the money and save in their bank account again.

newwest

member

Activity: 686

Merit: 26

★777Coin.com★ Fun BTC Casino!

Quote from: Twinkledoe on January 12, 2021, 06:59:17 PM

Quote from: crzy on January 12, 2021, 06:52:59 PM

I don’t see this one as a real correction and I think this is just a pullback and after this, we will aim to reach a new peak again so let’s not lose our faith to Bitcoin. Well, this is just my speculation and we should still see the market as a whole, see the price actions and the volume of the trade maybe we’re near to end the bull trend, hopefully not.

We are slowly going up again but we don't know how long we can go back to the 40k level again. But seems that the market has a stronghold with 30k, which is actually great. We only saw this level this year and it seems it is holding strong. That means, the foundation is getting solid for bitcoin. I don't know if we can call it already as bear market, as it is not. Just compare the price last year.

It has corrected from 40k and has being for now couple of days with this price range near 33k, so seems it is finding resistance near this level. If it can still hold at this price for next couple of days then might not be a too much fall, I do look at it. Infact then it is a time to buy because with some buying it can shoot up again and be near that 40k price. So profits just might be on cards from here.

Finestream

hero member

Activity: 3052

Merit: 606

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.

Maslate

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

Quote from: Oasisman on January 13, 2021, 07:28:25 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?

Looking at how the market was moving lately, It seems that this is just a normal correction, and It also seems like the market is consolidating and will make another run that'll reach beyond $42,000. Anything can happen though, but I guess we're still not going to experience a sharp drop that will lead to another bear season as we have still a lot of good news in cryptospace for Bitcoin to continue the surge.

I guess we already see the effect of good news, probably it has made bitcoin overvalued as it increased significantly in just a short period of time, hence, a a correction is necessary to make this market stronger in the long run and I'm really expecting that.

As of this moment, I'm not bullish anymore until the next 6 months.

Hopefully I'm wrong.

Oasisman

hero member

Activity: 2716

Merit: 552

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?

Looking at how the market was moving lately, It seems that this is just a normal correction, and It also seems like the market is consolidating and will make another run that'll reach beyond $42,000. Anything can happen though, but I guess we're still not going to experience a sharp drop that will lead to another bear season as we have still a lot of good news in cryptospace for Bitcoin to continue the surge.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: crzy on January 12, 2021, 06:52:59 PM

I don’t see this one as a real correction and I think this is just a pullback and after this, we will aim to reach a new peak again so let’s not lose our faith to Bitcoin. Well, this is just my speculation and we should still see the market as a whole, see the price actions and the volume of the trade maybe we’re near to end the bull trend, hopefully not.

We are slowly going up again but we don't know how long we can go back to the 40k level again. But seems that the market has a stronghold with 30k, which is actually great. We only saw this level this year and it seems it is holding strong. That means, the foundation is getting solid for bitcoin. I don't know if we can call it already as bear market, as it is not. Just compare the price last year.

crzy

full member

Activity: 2128

Merit: 180

I don’t see this one as a real correction and I think this is just a pullback and after this, we will aim to reach a new peak again so let’s not lose our faith to Bitcoin. Well, this is just my speculation and we should still see the market as a whole, see the price actions and the volume of the trade maybe we’re near to end the bull trend, hopefully not.

Yamifoud

hero member

Activity: 2828

Merit: 518

As long as the pandemic continues, we gonna say that Bitcoin prices remain at a high value. These corrections, the high and low scenarios will keep that trend forever. May huge correction can't be avoided as well but that gonna be of different scenario this time while Covid-19 still exists and I think that we hit back to the hard dipped again as the market still showing high demand for Bitcoin.

Wulan_maniez

full member

Activity: 840

Merit: 102

I think personally and if you look at history that have happened like this, this is not heading towards a bear market.
Bitcoin will be a real bullrun. After this there will be a slow increase, after yesterday’s rapid rise. Perhaps this is
a trap to make panic sell for those weak hands. So whales will buy in the depths of the price. But because many of
the institutes hold bitcoin nowday. This correction will not continue.

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: slapper on January 12, 2021, 05:26:58 PM

A variety of indicators support the current uptrend. This decline is just a small correction compare to the powerful momentum. Correction is needed so that bitcoin can go even further. We want to see bitcoin at $50000 or even $100000 if our force is strong enough. I know that some of you have rise your awareness after 2017 when most of the people lose their money. But this is just the beginning. So dont worry

Many people are worried that the same scenario will happen just like 2017.
But I believe our situation now is different. This pandemic crisis gives a strong support why we need crypto.
Payment sector has been looking into crypto as a viable option during this crisis.
This is the reason why its use case is going stronger, not just for investments.
Definitely, there will be up and down movement, but this time, I believe it will not drop down hard as what happened in 2018.

slapper

legendary

Activity: 1946

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

A variety of indicators support the current uptrend. This decline is just a small correction compare to the powerful momentum. Correction is needed so that bitcoin can go even further. We want to see bitcoin at $50000 or even $100000 if our force is strong enough. I know that some of you have rise your awareness after 2017 when most of the people lose their money. But this is just the beginning. So dont worry

Bergkampsballs

member

Activity: 145

Merit: 25

This was my first biggish dip so I hope that next time this happens I will be able to remain more level headed. I did forget a few things that I need to try to remember to remind myself for the future:

The governments are constantly printing more money.
The institutional investors are aware of this fact and are just starting to see Bitcoin as a sensible way of counteracting it.
There's a strong possibility of a global economic crash on the way and Bitcoin is a good way to protect ourselves.
Bitcoin is only just getting started, it's market cap is only 7% of the market cap of gold, a figure that is likely to grow substantially in the future.
Bitcoin has just had a big healthy correction suggesting that now is probably an ideal time to buy.

With these things considered I can't see any reason why big investors would be shying away from investing in Bitcoin right now. Any dips will surely just be bought up to prevent catastrophe and continue an epic bull run.

Guess I'm back on the bull train now Wink

shoreno

full member

Activity: 1750

Merit: 118

i think the correction has two kinds , small and big .big correction can be consider as a bear too in other words like what happened before but there are also times that correction starts small then gradually it transform into mid to big or it happens slowly not instantly big .

often the cause for this is people are panicking and they sell thinking that price can go down for more but if they are only playing it calm and just go with the flow ( buying for more at dips ) the price can surely recover and all can return in track again .

600watt

legendary

Activity: 2338

Merit: 2106

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?

25% corrections in a btc bull market are normal. nothing to worry. this is such a weak correction, there isnt even some proper FUD coming with it. in january 2017, for example, we were getting out of the first 3 year bear market. it was not clear if bitcoin would be able to ever get back to those $1k levels. when it finally did in january 2017, China banned bitcoin. for real. price went down from $1100 area to 700 area. it was scary.

royalfestus

hero member

Activity: 2464

Merit: 519

If the pump extend beyond $45k that would have been scary but this price set a pace for the unprecedented parabolic into trillion of dollars and bitcoin over $100k by the end of the year. We expect the same size of pump in altcoins or possibly larger pump that should reduce the dominance of bitcoin, the btc pair with altcoins should bring in more fund in the next few weeks

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

I don't think the correction indicates a bearish trend season, in fact, a correction is very common here, another bullish run may begin, the good thing about reaching a new ATH is that many negotiations have been with very high amounts, and Those investors will defend their investment at any cost.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

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.

First the bear market is not yet to happen but people seems to be extremely surprising whenever the market dump in price whereas it only open windows of new profit opportunities and also make the market healthier. I will say this expensive truth if the market didnt experience this current dump we ought to be expecting a worse corrections.

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?

I expect this to happen before now and I dont expect a quick recovery.

Myleschetty

member

Activity: 1165

Merit: 78

If the correction lead to bear is fine since the crypto market is volatility in nature and I think we need to be bothered every time the market went dip cause we supposed to ride it and find any way to profit from what the market presented cause every market trend have it own advantage.

Bergkampsballs

member

Activity: 145

Merit: 25

Quote from: cabron on January 12, 2021, 11:13:54 AM

There has to be a good reason before the bear market starts taking over. The previous bear started when google and facebook announced to ban crypto ads on their adnetwork and then all of a sudden the crashing of prices. For now, the bull market hasn't yet started considering the prices of the old tokens haven't lift off. EOS during the last bullrun hit $20+, not it barely can't break $5.

Thanks, I wasn't aware of this to be honest. I can't really see any good reason for a bear market to start now to be fair, I just got a bit spooked and wanted a bit of reassurance. Like most here I'm very optimistic about Bitcoins future so gonna just hodl my way through.

Bergkampsballs

member

Activity: 145

Merit: 25

Quote from: BrewMaster on January 12, 2021, 09:31:13 AM

during 2018 and 2019 bitcoin was already in a bear market and the price was on a down trend.
during 2020, 2017, 2016 and most of 2015 bitcoin was in a bull market and it had many drops like this while rising up.
you should get your facts straight...

I never said that a bear market happens every time there's a big dip to be fair, just that it has happened in the past, you seem to have misinterpreted what I was saying but that's OK.

Quote

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

Quote

no, you should sell your bitcoin immediately because you have failed to do the first thing required before investing in something which was research into its history.

OK mate, no worries, is everything OK?

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

There has to be a good reason before the bear market starts taking over. The previous bear started when google and facebook announced to ban crypto ads on their adnetwork and then all of a sudden the crashing of prices. For now, the bull market hasn't yet started considering the prices of the old tokens haven't lift off. EOS during the last bullrun hit $20+, not it barely can't break $5.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: inanilujimi on January 12, 2021, 03:46:09 AM

Don't panic too much, isn't this a common thing, when bitcoin increases in a short time, the consequence is that in a short time there will also be a sharp decline, doesn't this look healthier and more interesting than continuing to see bitcoin rise but it doesn't have a strong foundation. we are still on the right track.

It is what we must do if we see the market is dropping. If we are not panic, we will see a chance to buy back and sell in a limited time, and that will be difficult to see if we panic. I hope this time, the price will not go down to another downtrend because people are waiting for the next increases. But if suddenly, the price goes down for more, we can not do anything, but we should prepare to buy at a low price.

Gozie51

hero member

Activity: 2660

Merit: 630

Vave.com - Crypto Casino

Quote from: rhomelmabini on January 12, 2021, 09:48:30 AM

Of course some can predict the price though it's all pure speculation but to be honest it's too complicated and difficult when is the time to buy and to sell unless you decide to do a plan especially when you're trading it.

When to buy is really that difficult thing all of us go through because bitcoin is highly volatile and likely to defy every prediction. To buy bitcoin during bull is not very nice because it always have a phase of correction, except you are sure correction has happened and the price now has balance.

rhomelmabini

hero member

Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

Quote from: zanezane on January 11, 2021, 09:32:56 PM

I hope that it will really be different because the same pattern will only mean that anyone can simply predict the prices.

Of course some can predict the price though it's all pure speculation but to be honest it's too complicated and difficult when is the time to buy and to sell unless you decide to do a plan especially when you're trading it.

error08

hero member

Activity: 1036

Merit: 514

Quote from: GreatArkansas on January 11, 2021, 08:58:16 PM

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.

For a big media company, they are too early to conclude that bitcoin has entered the bear market although it just a normal correction considering bitcoin price rebound to $36k immediately afterwards. People have predicted that bitcoin may encounter a correction of 30% - 40% after such an increase of more than 100% in less than a month, it really drops 27% though. Nonetheless, the support level at $30k still holds firm, and the demand for bitcoin in the market ensures bitcoin goes up in a short time.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

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

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

during 2018 and 2019 bitcoin was already in a bear market and the price was on a down trend.
during 2020, 2017, 2016 and most of 2015 bitcoin was in a bull market and it had many drops like this while rising up.
you should get your facts straight...

Quote

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

no, you should sell your bitcoin immediately because you have failed to do the first thing required before investing in something which was research into its history.

Bergkampsballs

member

Activity: 145

Merit: 25

Thanks for all the advice. I was admittedly getting a bit nervous and half the reason for posting this was hoping that people could talk me out of being a weak hand and cashing some out as friends and family have been trying to convince me to do. You've done the job. I bought in at the start of November so it'd have to be quite a severe crash to lose all my profits anyway which is a nice little comfort blanket. I AM HODLING! Grin

Cheers!

inanilujimi

sr. member

Activity: 1876

Merit: 259

Don't panic too much, isn't this a common thing, when bitcoin increases in a short time, the consequence is that in a short time there will also be a sharp decline, doesn't this look healthier and more interesting than continuing to see bitcoin rise but it doesn't have a strong foundation. we are still on the right track.

exstasie

legendary

Activity: 1806

Merit: 1521

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?

We might go back to the highs right now.

Alternatively, this might be a bull trap to the 0.618 - 0.705 retracement area (high $30Ks) like June 2017, before there is ultimately another leg down. If that scenario plays out, then $25-$28K is a realistic bottom range.

Either way, this bull run still has a long way to go before it burns out. The longer the market consolidates below $42K, the more powerful the next leg up will be. Be patient and keep those hands strong. Six figures USD this year, in my opinion.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

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?

Price even Fell down to 30,000$ level mate ,

But I'm Not having regret since i sold out my Bitcoin at 38k because yesterday i come to Buy at 30k level that brings me now a more than 18% already seeing the value is climbing up Near 37,000$ as of this moment .

and Literally ? this correction will not going to Bear market as the proof is showing already now.

sunsilk

hero member

Activity: 3038

Merit: 634

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

legendary

Activity: 3472

Merit: 10611

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

legendary

Activity: 4102

Merit: 1454

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

full member

Activity: 868

Merit: 150

★Bitvest.io★ Play Plinko or Invest!

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

hero member

Activity: 2030

Merit: 578

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

legendary

Activity: 2506

Merit: 1394

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

hero member

Activity: 2632

Merit: 833

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

legendary

Activity: 2758

Merit: 1228

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

sr. member

Activity: 2828

Merit: 344

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

hero member

Activity: 2240

Merit: 848

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

member

Activity: 1078

Merit: 15

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

member

Activity: 145

Merit: 25

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? (Read 923 times)