Topic: Is the Bitcoin market correction over Yet (Read 297 times)

I really need to understand what you people thought was going to happen with bitcoin when it hit over 100k. Did you guys think it was just going to keep going higher and higher? Why did we all forget how bitcoin usually is? Is it not normal for bitcoin to hit a certain figure and go back down? Is one of the major features of bitcoin, not its volatility? So why is it a surprise?
It's usual for bitcoin to go back down to 96k after going above 100k. Currently, bitcoin price is at 98k and that is how bitcoing has always been. I don't think it's any correction or whatever it is you may think. A correction will be needed when something like a FUD or FOMO makes the price go up or down, but when it happens organically there's no need for a correction. 
 

Many Bitcoin speculators believe that Bitcoin will do tremendously well in price in the last days of the year 2024 before we have the new US administration in place, and Bitcoin will likely stay above its current all-time high of $100k+ and that is something that we should expect to be broken when the new administration comes to place in mid-January 2025, so we shouldn't expect to see more market correction downward like we have currently, and anyone looking to buy Bitcoin at the bottom should buy now instead of risking not to buy at bottom in the coming days before the next bull season begins.

What are you saying? We are in a bull season. What do you think it is? Climbing straight up with no dips? In all bull markets there are crashes in which some people lose money by buying and selling, getting carried away by emotions and trying to time the market.


I do not know. Nor do I care. The only thing I know is that in 1 year the price will be much higher than it is now. And in 10 years it will be even higher

I don't expect the correction to end anytime soon but will continue until the end of the year even up to second week of January. Sincerely, bitcoin will surge only with a strong news such as the news of the inauguration of President Donald Trump that is seen as pro bitcoin.  Maybe from then onward we should be expecting a new ATH, a moment we all are waiting for to see how high bitcoin will go in this market cycle. The real winners will be those who will use this period to buy more bitcoin instead of panicking.

Don't forget that bitcoin is still very volatile, it can go up 20, 30% or even 50% in a short period of time, so it's no surprise that it can also go down 20, 30%. If we are happy every time the price increases rapidly, we should also be mentally prepared for strong corrections because no asset can rise vertically without any correction, including bitcoin. Additionally, there has been much talk about the possibility of a bitcoin price correction this December as we have a major holiday season at the end of the year and it is inevitable that people will sell some of their bitcoins to enjoy the holiday season. So I don't see anything to worry about in the bitcoin price correction these days and I even think this correction will continue until we enter the new year.

Bitcoin may not be able to return to $100k before the end of the year but it could hit $120k by January, so what's to worry about?

Man, if you look at charts, Bitcoin has been going up since 2022 Q4. It reached to its lowest point in the last few years and since 15.5K USD, it started rise and there hasn't been a single major crash since that day. There were slight corrections during the process of it rising from 15K to 25K to 30K but since 30K, it went up to 70K without a correction. From 70K, there were some corrections and price was fluctuating between 50K and 70K but even in this case, it still went up, crossed it's ATH and even surpassed 100K.
I think that what Bitcoin did, i.e. going from 15K to 108K, is a huge jump, especially in such a huge market cap. I believe that what we see right now is not a correction and it's a very normal habit for Bitcoin if you look at charts but I can't predict when there will be correction but that will happen at some point and the price will crash. What will be the catalyst of it? I don't know.

The main part of the bull cycle will be in 2025 anyways, so we just need to push through what we see today.

On the moment that you do step your foot into this market then you should be that get prepared for whatever volatility that it do brings. You've been wary at first about on being volatile so therefore you could be able to expect that the price will really be that moving life waves on which it could neither be up and down. On the time or moment that you do place yourself at the bottom then you will definitely be able to make profits once the market will be going up. There are those individuals who do bought up on the peak on which at the time that they will be able to buy on the peak then they do become that panicking on the time that the price made out some correction or price dumps. Is it over? no its not because this market does have its own cycles and its normal that these movements do really happen and as a trader then you will be that mindful about taking up positions.

For those who are really that wanting to hold for long term then they can anytime buy on any price they do want or on point price and wont tend to check out the market every often because usually on the time that you do check out then this is the time that you do become that impulsive on which you might not be able to hold up for long term. Its always been wise that you should be getting along side with the projects that you are that involved into specially with Bitcoin or with some altcoins that it is included into your portfolio. Each one of us does have their own take on how things works accordingly. You wont be finding any issues if you are that good when it comes to emotional tolerance.

I do think you are right and we will totally see Bitcoin outpacing everyone's expectations again, just like when it breached 100k and went a little bit more than that.
We just need to wait a bit and look at the market once the smoke is gone and New Year would be in the past.

I don't know what could be behind this sudden fall of Bitcoin because after those struggles and later break out $100k to more higher level, I thought at that point we have said goodbye to any price below $100k but for few minutes I was looking at the price the day it reduces to $90k, actually a lot of Bitcoin must have been sold to push Bitcoin price this way because after that hit the price hasn't taking it previous form and it has become more highly volatile than the way it is before, just on Friday 20 December the price rose to $97k plus and now it has fallen again to $94k plus, does it actually mean that $100k Bitcoin price will not cross over to the new year since $90k plus has become the deciding price.

Lol! A typical behaviour of newbie indeed. They normally assume Bitcoin movement is just like pump pump and pump not knowing that it include dump dump and dump too. It's not possible to have a one way market trend and that's what it makes it volatile. I don't see any reason to be panic now when we are just having a slight correction in the market.


This is actually a correction and not dip 

You won't have the energy to type this when dips occur 

Yes, that is true, and for sure that there are entities right now taking advantage of the dip and buying, but there are also a lot of sellers so it offset everything. And as I have said, it seems that the market correction is not done yet as the support line of $95k has been broken and now that we are in $93k'ish. So it looks very bearish from the outside and the joy that we have experienced was somewhat replaced by disappointment. Although we still have high hopes in 2025 when Trump's goes to the office and implement pro-crypto policies and put pro-crypto individuals in position that concern crypto like SEC or even FED chairmanship.

No one can predict with right for Bitcoin price because the moves of Bitcoin become wild and it is difficult to predict what will happen in the next hours. We can only analyze and guess where the price will moves and place our order if we want to trade.

If we check on the price movement, it seems we will see another correction and maybe we will get back to $85k. But no one will have the right prediction and those people who say like that can just guess without knowing the truth.

But if the price really down to that price, we must take benefit from that because we may difficult to see that price in the future. We can buy back for more and hold or we don't have to do anything and just enjoy our time.

It is difficult to pass $95k at this moment but I am sure that will break that price and will be back to $108k. The market looks bearish so we don't have panic while we should search for a chance to buy back in a low price. That will be better for us rather than panic and worry with the price.

We can still hopes the price can reach $100k this last week but no one will know for sure. So we can only waiting for that and make a plan what we need to do. I am sure many people are waiting for the 6 digits of the price and they are prepare for that by buying more Bitcoin.

Surely Bitcoin stabilization should not be a burden since it has surpassed the ballpark of $100k. Bitcoin has already reached an ATH of $107k before correcting back to $94k. investor should no be much boderd about the dip in price or thinking much on how it will increase rapidly to a new ATH but should be more accumulative to consider that this may be the last time to see $94k since we are heading to a more speculated higher price.

We are far from being over yet, I think Bitcoin will likely drop to around $80,000 to 85k before we can say we have the bottom price from the market because, from the look at recent market reactions, there have been more sell orders than we have buy order which signified that many investors are taking profits most especially those that bought around 50k or below.


I used to feel that we may never come down to 95k in the previous week, but when Bitcoin started dipping down significantly and generating a negative chart of more than -10% on multiple occasions it signified that the market lacked liquidity to keep going up or resisting the current level.

If you're optimistic towards the market, you will think that we might see a huge spike towards the price of Bitcoin in the upcoming weeks.
If you're a technical analyst, you will make decisions based on what the market is showing.

Right now, it's hard to predict on whether we will see a reverse in the short term or not, but one thing's for sure. The market right now is bearish in the short term, and maybe many holders are cashing out so they can spend something for the holiday season. I believe that in the 1st quarter of 2025, the market will be bullish yet again and will reach new ATH. As for the 2nd question, anything is possible. It's all about probabilities, and I also see $90,000 as a psychological support as well. Is it the end of the correction phase when we reach $90,000? I don't think so because right at this moment, bears are the one leading the way.

Whatever the case is, there's no need to panic or pressure, but let's continue to accumulate if we expect that Bitcoin will go up in the next months to come.

There is always the potential for a correction when prices have risen so high for some time. Even if the condition recovers after a few days, a correction can certainly cause injury to anyone whose estimated investment balance is less. I personally cannot guarantee that the correction is over because the market is so easily influenced by the FUD spread deliberately by some people. They take advantage of panic to invest, especially buying from anyone with weak hands.

It is impossible to expect prices to always rise and continue to record history, so corrections should be considered normal and one should not judge them negatively. Many investors use corrections to build their portfolios, so you can also practice it if you have the budget. But once again, the correction could continue because it all depends on the market situation and interest.

Plus-minus 10k to go to reach the conclusion of his prediction.
Would be epic if you ask me.
 

Bitcoin might fall to $85K because I see few articles are talking about CZ who predicted Bitcoin price drop from $101,000 to $85,000, since we have hit $101,000, this make people think Bitcoin price will go down, as we know the power from public perception is strong. Most people believe CZ, that's why they think their coins is safe in Binance.

I speculate most people don't have any stablecoins left because they've use it all to buy Bitcoin.

No, the correction is still continuing for the next few weeks at least that's what we predict, but usually at the end of the year there is a high drop even below $90K, if I'm not mistaken.

Some people say it's a deeper correction because they will buy DIPs but other investors don't want to see that happen fearing that the bull has already passed, but rest assured next year will be better than this year.

At least a correction until the end of the year.

I draw from previous experiences regarding the crypto market and the current development of Bitcoin prices. In terms of speculation, of course there are various factors for the current development of Bitcoin, maybe some experts have a point in their speculation.

As speculated by a Bitcoin expert.

From experience, before Christmas crypto users tend to prefer to sell, but when the Christmas phenomenon is over, the price of Bitcoin will experience another rise, which is estimated until next May, according to one expert's speculation, so the current downward correction should indeed occur, but we will see green prices return in the near future.

The dips are there to use them.
 
I do think that 2025 is the year to see Bitcoin reaching new ATHes, and nothing would stop it from doing so.
The rally is not done yet, so there was no correction. Only dips.

Man, you seem like a newbie. Only Bitcoin/crypto newbies get surprised when the price does down. Bitcoin is highly volatile and it will always remain highly volatile. 10-15% price drops shouldn't be something unusual or surprising. The Federal Reserve didn't cut the interest rates one more time, Trump's budget proposals were rejected by the US Congress. There's big selling pressure on the Bitcoin market. Many traders want to sell at levels around 90K-95K and cash out the profits. I'm sure that the BTC price is going to stay in the 90K-100K USD price range in the next few weeks.
  

Of course there is excitement and i don't actually blame you. Anyway sorry for that if you feels so messed up.
Even though it's me i am not above mistakes, so there is no problems mate.
Yes, there are people who actually missed the golden opportunities that could landed them into millions today but they never ceased those chances before the market hit an ATH of 108k before having those sharps drop moving around 92-97k.

The sentiments though still looks bearish as we can't get over the $95k, and obviously, it's the resistance for now. And there is also the scheduled Bitcoin future expirations if I'm not mistaken that could contribute to the price declining at the end of the year. For sure most of us wanted to see the price going at least $100k in the last week. This is a psychological barrier, and if we can get over it, then 2025 will be huge to start.

So it's just a week from now and majority could be looking at next year and have plans already. And with that, with Trump's sworn being the next President, January might be the month that we will see that 6 digits, if we can't get it in the next couple of days.

Indeed, it is very difficult to predict what will happen next, anything can happen and as investors we should always plan for both scenarios.

One thing I saw was when bitcoin crossed $107k most of the analysis said bitcoin would soon hit $120k by the end of the month. But when the price of bitcoin suddenly dropped below $100k, they made the opposite prediction and believed that bitcoin would drop to $85k. It can be affirmed that no one knows what will happen next, all predictions are just personal expectations of each person, nothing more, nothing less.


For my part, I don't believe we can get back to 85k but I agree with you if it happens we should take advantage of it. Because it is very likely that after this bull run, we will hardly see Bitcoin reach $85k again. So if bitcoin corrects, we should take full advantage of that.

I think it's not over yet, price might still go down, although it seems to have a strong support around $94k-$95k. But who knows about the sentiments as I thought that the negative news about the Feds will subside. But obviously, it did has some effect to us and investors might have hedge their Bitcoin to some altcoins or totally sold their it. Nevertheless, Christmas comes early for those who want to get into the picture as the price is at a discount and instead of fear, they should take advantage of the situation and buy at the price right now. It's not a bear or something, this is just another correction and it last for several days or market going to be on the sideways again.

Thanks, man you can't blame me for such excitement to already be in 2025, but for the record, I have corrected the year now and you can check again, well Bitcoin has given us so much excitement this year 2024 and towards the end of this year we are in another trend direction that points to a more positive year ahead, so 2025 is a much anticipated year for all Bitcoin investors who are looking forward to making some remarkable profits from investment. Seeing Bitcoin go below 100k in the last days of 2024 is a big discount opportunity for those who are looking to renter the market after taking profits when the price touched $107k before the current correction.

Hey man! Were you feeling drowsy when you were creating this post?
You seems to have been too fast with your year, instead of 2024 you are using 2025 while we are yet to enter that year, even though it's still remaining +-8 days to witnessed next year we shouldn't be that too fast to mention it without being inside already. That is by the way..

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Usually if this doesn't happened we would never experienced another level of price action, and of course correction is always important on the market to hit another ATH. On a norm, for we to see ATH the price would dropped to some certain level before it would gain support to create another stronger price, pushing above the price level.

Well... If not the market being on correction at now I am probably not going to call it a dip or bear. I assume the current market condition is  still on correction resting on the forebeing of the recent pump.we might experience some different market volume within the few days left in the year 2025.

We are talking about volatile movements here which can not be predictable so, we don't have to be surprise of any close by changes.
But if the office falls on a base of $90K, then I will take it that we are no more on the correctional level.

Besides... Bitcoin stabilizing on $100K should not be a burden to us because the history has been beaten. I know based on the market sentiments, investors are no more satisfied with the sum of $100K but are hoped to break a highily volume of new ATH just to satisfy their investment urge.

Bitcoin has a way of surprising everybody this year, if you noticed that Bitcoin has hard multiple time high prices with in a space of two weeks, first it was 90k benchmark seconds it did the $100k all-time high and lastly Bitcoin went above 105k all-time high all this happened within a short space of time, and we all were surprised to see Bitcoin at that level since we did not expect such price action from the market.

So we can't say that we will not break the last all-time Bitcoin price before the end of this year, we still have roughly a week plus before the year 2024 comes to an end and at that anything can happen, Bitcoin can still make a $100,10BTC before the New Year thereby closing the year I a most remarkable way before the real market bull starts early next year as Trump administration kicks off their Bitcoin reserves funds followed by buying Bitcoin by the government.

Everything can happen to Bitcoin now. The price hit the new ATH while now the price still at $94k so we see the price still goes down. But that doesn't mean the price will still goes down as no one will not know what will happen to Bitcoin. We can only prepare for anything that can happen and use the current situation for our benefit.

Some people say the price can goes down to $85k or lower than that. So when the price is really down to that price, that will be a big discount for us because we can buy Bitcoin at a low price. We may difficult to see that price in the future so we should use that moment for our benefit. We don't have listen to others that say bad things about Bitcoin because they really don't know for sure.

I don't have any predictions because my target is 2025 so short term fluctuations are not that important. But I guess no one wants bitcoin price to correct anymore because people have held long enough and now they just want the price to go up to take profits. So it would not be surprising if the majority of people predict that the correction is over and Bitcoin will continue to rise from now on.
But to be fair, no one knows what will happen because the future is unpredictable, and there is also nothing to worry about even if bitcoin price corrects further because we are in a bull season. Bitcoin will also recover quickly if a strong correction occurs.

maybe will end by the new year.

but we must remember bitcoin was channeling around $49k to $65k, you'd expect a decrease from $107k to $93k to be completely normal, it's BTC we're talking about, a volatile asset but overall has linear growth.
but imagine if something like previous descending channel breakout happens again we might see $130k, this retracement or correction is part of the game, like it or not BTC can't just go up forever.
there will be a distribution phase where people take profit and we'll see whether this will be an accumulation phase that's followed by breakout for new ATH, time will tell.

I am not sure we are above all possible corrections it may dip more to maybe below $93k to $90k and may never fall below $90k or might be that it may never fall below $94k since Eveything still remain speculation.

I don't think so.  The least I expect bitcoin to crash is within the level of $90k but not below. So that from hence it will pick up to regain back $100k and above but it may not reach the ATH this last quarter of the Year,  maybe the fist quarter of 2025 but if it get back to ATH this remaining days of the year then chears.

Its hard to conclude that way since there's still possibilities that we can experience more dump and it goes down to $90k or even more. But that doesn't mean people should get panic in that situation since for sure that if they provably might lose their Bitcoins if they act that way. Instead more better for people to accumulate since price dumping is somehow good opportunity for people to accumulate. people should not get afraid on Bitcoin price correction since this is usual sightings we could see for Bitcoin this is why we better take advantage on those situation rather than get afraid and do nothing since for sure some people would regret those decision for not buying some when Bitcoin is experiencing a dump.

Not close to over yet, it needs to meet the 50 day average and then develop positively from there.  So far it was just a brief encounter but it does not seem like a turnaround would be so brief as that.   These prices are the November start peak prices, it has to meet that area that first began this latest positive trend and satisfy all sellers while developing support to go forward progressively.

Time is the main thing, just remaining in this area is quite positive but it might not move upwards just yet.   More volume comes over time and eventually it will develop up but thats more of a task then might be expected from BTC previously moving upwards so fast.

The correction might be over any time soon I believe however my prediction shows that bitcoin is only going to fluctuate within this range of 92k to 100kish but never to break a new ATH this year. There can be bais because it's just a mere speculation but I really have a little bit of trust in this prediction.

Seriously only few investors actually expected bitcoin to correct down to this level because they got carried way with the euphoria of the increasing price but some investors or mostly old investors were definitely waiting for this because it is a routine by bitcoin to usually come down and clear the liquidities or inducement there after an impulsive movement. For me I was expecting this to happen way before we can continue the upward movement and my reason was because of the out flows I was seeing from dormant wallets and their was more less a chance that it was for taking profit after the $100k price was achieved.

My prediction is we might see the price test the $92k support again after getting their and bounce off immediately, we should be ranging in this region for now before the next round of upward movement will commence, but if the world economy gets any negative news again then we can expect the price to test supports like the one at $90k and $85k if the news is a negative one and then the pump will continue back again

I think the correction isn't over and should last maybe till the end of the this week or early next year.
The only reason I can see Bitcoin having such fall below such amount is if there's no news or it's a negative result in result to the implementation of the BSR policy.
Closing below $100K this week, set precedence for lower end
So temporary I think the correction is still ongoing.

In the last one week ago, I never thought that Bitcoin would correct back to below $95,000 again in this year 2025, in fact I never expected to see Bitcoin touching the 90k-99k region again for the first half of the year 2024 because of the level of the market movement in the last one month Plus now, but this is Bitcoin market and anything can happen and here we are right now with Bitcoin battling to regain a 100k benchmark diving between $94400- 97k+ for the last 24 hours high and low.

The question is:
Have we gone above all possible corrections and are ready for the next bull season?
Do we expect more crashes in the market possibility of going below 90k before we call the corrections an end?

Let me know your input on this.