Topic: Short term corrections could be detrimental. (Read 307 times)

It happened on the approach of the post-ETF retail trend, which was the main reason for the short-term correction. This is normal, and I guess this $40k resistance is still optimistic. In the long term, this price is important acceptance. It shows the momentum before the Halving and the price increase afterward

Altcoin investors and collectors wouldn't stop, most people would take the risks of investing in a lot of new altcoins that they might think have great potential because newly launched coins and tokens can sometimes provide great returns when compared to old and existing cryptocurrencies. However, when it comes to the trust and safety of funds, I think it's much better to choose the safest way and invest in cryptocurrencies that are trusted by the community to avoid any problems.

In my opinion, the best time to buy altcoins was when Bitcoin was around $32k or even better when it was around $26k from where it jumped straight to $37k in no time. Those who bought during that phase, must have earned good profit already when Bitcoin touched $48k earlier this month.

Some are afraid because they are worried that if the ETF is rejected, the market will make a very high price reversal.
but in the long term in reality it is just fud for btc, in fact the increase in btc will continue to occur every season and the decline is caused by fud to correct first before increasing higher than before.

You have said it well and the concluded part where halving will push the price of the market higher is a very good one, so any which way the ETF drive the market, the halving will pick it from there to resuscitate the coin. The ETF was too pricy in its effect with Bitcoin and it was not nice at all when the approval eventually came and Bitcoin was seen selling. The selling continues all the same, but it would have been worse if the ETF fillings were rejected, maybe Bitcoin would have hit $35,000 or lower this time. As it is now, I hope that the market can stabilise at a support level. It has hit my first support at $40,243. The market reached the level yesterday and rebounded sharply to above $41,000 immediately after hitting the level, but has moved lower again after a while.

The level and $40,000 psychology level will be the market determinants for now, and if the two are successfully breached low, Bitcoin can continue to sell massively downwards. But in all, this is the pre-having effect we are seeing, the halving will come and the post-halving effect might be quite opposite to this in such a way that Bitcoin will be spiking higher so much in the short time possible. But I hope everything goes well with no disappointment happening, especially due to the manner in which halving itself is being hyped by people. If it moves higher but at a point ceases and creates a bearish pattern, the market might backfire on the plan of people.

I'm also thinking the same, or at least that's what I learn from those members who gave us their TA, that there will be one leg down before the halving before we can see an uptrend. So maybe this is it, from $47k then to almost $40k, now we are back to $42k.

Or perhaps there will still be one coming in the next coming months as we get closer to April. Obviously there will be demand from institutions, maybe they are just playing their cards right now with the approval of ETF. But news says that BlackRock has put so much money already and most likely to continue accumulating.

A very obvious way on how to manipulate a market on which it is really just that normal that you would really be having those kind of doubts on making your next entry because of those manipulative acts
on which tons of people are really that having those doubts on entering the market due to this kind of behavior on which it isnt really something that acceptable but since we dont really have choice
then we do really need to deal with it. It is really that something that even on traditional markets are really that happening. Big players would really be always be having the advantage and this is why
as a retail trader or investor then you should really know on how to go with the flow or making out decisions which it would really be getting in line with theirs.

Yes, it wont be that easy but having that counter trend kind like of mindset then it would really be that also hard. So outcome and profitability will really be
that determining on how well you would really be making out such decision towards your position because not all would really be that good when it comes to this.
There are ones who are really that being too impulsive when they do see those FUDs and negative prices or value.

We have seen something quite deranged yesterday as well. The "SEC twitter account was hacked" doesn't feel like that is actually a thing to me, I feel like some people in the SEC got the approval to share that tweet, and some people had their hands on long and short.

So when that was shared, someone in the SEC knew that it would be shared, and opened a long position, made some insane money, then sold and used that money to short and then they shared "it was hacked" information, so it crashed. Some people who are in the know made some insane amount of money from it. I believe that is the reality, some people may not agree with me, some people may think it was all legit and nothing was wrong, but I find those people naïve if they think this was all a mistake.

All investors have their own targets in making decisions, including selling when they see Bitcoin ETF news which can create a temporary sharp increase in the market. Because they can buy Bitcoin again when there is a price correction after selling at a high price to make long-term decisions again to wait for a bigger increase through moments such as the halving or after it next year. So as long as it's a profit, I don't think there's anything wrong with investors doing something that can make them profit.

I would like to think that one last liquidation will come into play before the gradual, choppy uptrend toward and throughout the having. There are also mixed opinions as to how the ETF will actually reflect the demand for Bitcoin within them, whether institutions will buy the Bitcoin (and when) to back the demand from the ETFs, and if the contracts will reflect the correct prices. I've been doing a lot of thinking of this and will share my thoughts soon.

Short term corrections however, shouldn't waver any true holder. Volatility is not unusual for Bitcoin or cryptocurrency. Letting volatility rule will never end well.

I chose the tactics of long-term investments. Now I don’t care much about what’s happening on the market, whenever possible I just strengthen my portfolio with bitcoins and wait for the halving first, there will be a correction, and more than one in these 3-4 months, so there’s definitely no need to worry. But those who are in altcoins should be nervous because they will be attacked much more strongly than the main assets.

This is indeed a great opportunity for short term investors to take quick profit but as there was so much of hype about ETF approval and finally it has happened so there would be equal amount of FOMO as well which will stop some of them from selling out because of upcoming halving as sometimes price can fluctuate so quickly that we will not be able to catch up with the price and end up regretting like I did when I sold SOL around $25. Smart investors can quickly sell around $48K and try buying back at a lesser amount.

But, yeah the long term investors won't bother about this.

This ETF approval is only the beginning and the real increase will still be awaited when the Halving occurs and after that the real bullishness will really occur. Bitcoin spot ETFs have a good impact when they are approved but will have a very bad impact when they are all rejected. It is good news today that ETFs are approved and allow short-term investors to take profits faster.

Yeah we are going to see some positive movement in the bitcoin market in the coming days, and since the success of the bitcoin ETF have already been achieved with the new of the approval today, we are going to be seeing some heavy buy pressure for bitcoin and at some point we may likely see up to 50k price correction before the coming bitcoin halving which is going to usher in a new phased for the market.

Many bitcoin holders are already anticipating a new all time high much more than the presumed heavy correction that some speculators are forecasting.

Only short term investors are waiting for this approval so that they can take their profit when bitcoin price moves up as a result of the news. Long term holders are still waiting for the real bull run to come before they will sell and not the news hype that will make the market rise for short term and still goes back to its normal trend level. Long term holders knows what’s ahead and they’re prepared for it and not carried away by the approval of the spot bitcoin ETF.

I think there is no legitimate announcement yet if ETF is going to be approved or declined, but many are too optimistic about its approval this year. Even so, it is still early to say that the price will soar really high. We should keep in mind that in the BTC market anything is possible including a dump in price despite of the positive events that came out or vice versa. Same goes after the halving.

It may take a long time for us to an all-time high in BTC and other cryptos. But isn't that great? Because, it's a real test to see if who is the true strong hodler here. Those are the only ones who deserve to get compensated by a massive amount of profit and not the weak ones.

BTC as it is, has yet to reach the ATH many have predicted to come, but the ETF approval is one that is sure to effect the market somehow by it's acceptance or rejection or postponement.

To stay positive and HoDL for those with very big assets and with the possibility to diversify the portfolio, is one idea that may pop up and then an investor may decide to move some funds elsewhere because of these speculated events to come.
 One of the fact that is dangerously true is that old investors may miss out more on the profit from the bullish market season which may even begin before the halving, and because of this fear that make many want to make corrections to their portfolio holdings, they would consider selling off rather than buy and HoDL now, and also they would invest in other cryptocurrencies that's not Bitcoin.
These changes although short term, may have lasting impressions on the HODLings or investment portfolio of individual investors.

This might be that not correlated or bit off topic but seems these things are connected.

Player 'Gary Gensler' timing $BTC volatility with perfection on 1,000x leverage
Linkc source

This hit is on Rollbit. Coincidence? Feels like that player do know on what would happen and having that 1000x leverage. Woah!
Market manipulation at its finest, sooner or later which these news or events wont really be that easily be believed on.
X.com made out some investigation but it seems that it was really that a real exploit or being hacked.  Really that hard to believe imho.

This is what I concluded today too. It seems like the market manipulators are getting ready to take a big profit out of the market one way or another. If ETF is approved they'll try to "pump" bitcoin (so to speak) and take the profit that way and if it is not they will dump it by shorting it hard to make profit in a different way.
Either way, we are in for a short but volatile period soon.

P.S. There is a way their plans could fail which is if SEC postpones its decision like they always do, enough for the market to naturally enter the bull run so that their manipulation becomes ineffective (eg. shorting in case of rejection will only lead to their loss).

I do also believe that we will be seeing the maximum growth of the halving effect in at least 18 months
but I also believe that we need to maximize our profit in different way and that is to sell our coins when its in the top
and sell them when its dumping , maybe that is a different approach than Holding but at least we can gain more in the
coming bull market.

Exactly, as you've already said, that's what bitcoin has been doing ever since with the correction. People's still don't get used to it though, I guess the sudden change in prices is still as surprising as the first time that we've experienced it but hopefully along the way, we learn that if this happens, we just need to have some spare money to put into bitcoin so we don't get left out in these opportunities.

Currently, this is a year of halving without an ETF, and the price of Bitcoin in the following year is undoubtedly set to soar significantly and massively. It will reach its all-time high once again. If an ETF is approved, the price will surge initially before the halving. Typically, after halving, the price of Bitcoin tends to reach its latest all-time high. Therefore, we can only wait for the following year to see whether the price of Bitcoin will reach its latest all-time high or not.
long term bitcoin price still uptrend because halving

I'm not contradicting myself because when I said 2024 is going to be bullish I'm referring to Bitcoin. Shitcoins will remain to be shitcoins and while their prices may increase along with Bitcoin in terms of USD, their value in Bitcoin is actually going down.

If you're making profit with Solana then consider enjoying it while you still can. Indeed shitcoins can also give you profit but they don't last long. They cannot sustain. Solana too will fall in time.

When the real bull season comes, Bitcoin will rise and shitcoins will bleed.

Everyone has their own opinion, I also see many people taking profits because they think that whether the ETF is approved or not, the market will be very volatile and they do not want to participate in short-term fluctuations due to news about the ETFs causes. So far, there is a lot of evidence that an ETF will be approved, but we have no guarantees about that and there is also no guarantee that once an ETF is approved, bitcoin will definitely increase in price.


You are contradicting yourself because as you say, if 2024 is a growth year then why is holding altcoins bad? Like many people said, don't invest in altcoins but I have accumulated some Solana over the past year and I am making significant profits. It can be said that not only bitcoin can bring profits, many altcoins can bring better profits than Bitcoin and we need to accept that fact. Especially when the bull season comes, altcoins will bring much better profits than bitcoin.

I agree, while the thought of having a retirement fund is there but for sure that most of the holders that have got a lot won't just cash out everything. The flow continues of how it all started and there will surely be some Bitcoins left on their stash that's still going to continue as their holdings. That is one mistake that I've done when I was starting, I've sold most of my holdings but good thing that I was able to recover and still bought some along the way before all of these crazy prices have come up.

It will, and it will always be.
Whether it's the Spot Bitcoin ETF, or whatever event that's positive, we will see a surge in Bitcoin's price, then altcoins will follow after that. Investors will get FOMO'ed because they're a bit late to buy Bitcoins, then they will just see that Bitcoin's price went below their buying price because some investors already sold their Bitcoin holdings.

Let's not forget the infamous quote "Buy the rumor, Sell the News". I'm not seeing this phrase more often, but when an acceptance of a Spot Bitcoin ETF happens, Bitcoin's price will surge for a moment then they will sell immediately, taking some profit, and those who bought at the peak? They will be force to hold their Bitcoin, and will say to themselves "Oh, the bull run is coming anyway, so I'll just hold it and wait for the bull run to happen." From a short-term trader, to a long-term investor in an instant.

Overall, don't think of the short-term, but more of a long term. Plan for the long term. In that way, you will be much safer. You might see your portfolio being down 10% or even more, but as long as you're not selling then it will not be your permanent loss.

For me, I am expecting we will still go higher from now until before the Bitcoin block halving. Try to check the previous Bitcoin block halvings, you will see that most of the price actions upward are happening before the Bitcoin block halving event.
But this time, we are very volatile because of the ETF deadlines, it could affect the market, but still, we must stay positive.

You seem to be contradicting yourself. And why should investors and hodlers be scared because of the potential spot ETF approval? Why should they be taking profit if an approval is most likely to happen? Also, are investors assured that there will be an approval rather than a postponement or even rejection? Who gives them the assurance?

2024 is going to be bullish but if what you have are altcoins and shitcoins you are doomed. So to those who are keeping a lot of altcoins you better sell them for Bitcoin.

What does altcoin has something to do with the halving? they have been dumping hard because that's how it is, majority of them are being used as a pump and dump schemes. And if I'm not mistaken, pump and dump groups are still around and maybe their numbers are still growing up to this day.


Why not just go long for Bitcoin or even those strong altcoins and then see how it goes. I know that there are short term speculators, but it's not going to be for everyone as this game is full of emotions and so it's just better to accumulate as much as you can HODL and then don't speculate short term?

smart people dont 100% cash out everything to then live on/spend it all
they instead just cash out portions of the gains to live on

never cash out everything. do everything in small allotments/percentages

like traditional finance, dont spend the capital, live off the interest/dividend
only take out (not all) but bigger portions if significant ATH to then buy more at discount n a correction

these 5% tides are nothing compared to the 300% tides of true ATH/corrections (mid 2021-dec2022)

dont get emotional over 5% waves, dont go full 100% trade on these small waves

When we do speak about market corrections then it is really just that normal or something do speak about to be part of this journey or career when dealing up with this market on which corrections is always present
because if there's none then its not called a market in the first place. This isnt really just that applicable into altcoins but on Bitcoin itself because we do know that prices cant really be just that moving up forever
on which there would be corrections and price declines. This is why it would really be that just that depending on someones profitability on how well they would really be hovering themselves into this market.
You cant really just that make profits so easy on just simply holding because there comes really a time that you would really be having that negative portfolio on the time that the market
would really be making corrections and this is normal, its neither you should hold your position or you would be cutting your losses.

I don't understand why they need to be scared of what? They've been holders and investors of Bitcoin for quite a while so, they know the timeline and what actually is happening. And if they're eager to take profits before a crash happens, no one knows when a crash will happen but we've got some clue and it's not yet this time. We're not even on a bull run yet or have maximized it.

And that's happening now. 

Let them invest where they want to invest, if you're solely focused investing on Bitcoin or you've got a larger portion of your stash on it. All you have to think of is your own portfolio and can even wait until 2025 which is like the pattern of the cycle.

How I wish that I'll be a millionaire but there are lots of it here in the forum that have been holding two digits of Bitcoin and that's more than enough for their retirement but still will patiently wait until the end of the bull run.

Your first paragraph is saying people are scared and taking profits, AND more money is being invested so bitcoin will pump. Which is it?? lol. It can't be both. 


Yeah I've been interested to see how the altcoin market reacts to the ETF. Assuming it is approved, it could mean money would flow from altcoins into Bitcoin, meaning an altcoin crash and bitcoin pump. Or it could be that it boosts the whole market. So far, leading up to the decision, it seems people have already started dumping altcoins a little bit and going into bitcoin in anticipation of an ETF approval.

Not sure if you have noticed or not there is a correlation between altcoins dumping hard and Bitcoin pumping as Altcoins overachieved their rally when Bitcoin's movement was relatively lesser and now since there is a correction phase which Altcoin is witnessing the funds which moved into market to Altcoin have started shifting to Bitcoin as it would take years for the loses to be recovered in Altcoins and most of the time if you lose money in Altcoins you don't recover it ever.

ETF approval or rejection is a temporary thing which might have mild effect or more impact but not for a longer period of time.

The correction affects more to altcoins than BTC itself. Its price could just pump almost instantly back to its previous high while altcoins struggle to climb. The majority had not bounced after BTC touched $45k again today.

So if traders were panicking to sell because of the thought it could go down to $40k due to the flash crash last Jan 3 drop to $40k, then the market really is becoming too unpredictable or the institutions are just creeping small traders.

They have been heavy demand of bitcoin this last week than a number of sale. It’s reported by glassnode that around 1.11Million bitcoin have been bought around the market price of $42,500 which shows that investors are accumulating for the purpose of ETF approval rumored to be on the 10th January and should there be a counter decision they a heavy sale will definitely happen. But nonetheless one should just hold, have a price tag and don’t panic.


I am also optimistic about the bull run happening after the halving not taken away by the ETF saga. When the bull run will happen is still not clear so I will advise a time frame shouldn’t be fixed but rather a price target Should. Also bitcoin wouldn’t make one a millionaire but depends on the amount invested into it. My new ATH is actually around 150-170 which is like 3x from the current ATH.

Altcoins is dumping hard because it pumps hard recently besides Bitcoin dominance is increasing when this shitcoin dumps which is an indication that traders is just changing investment from Altcoin to Bitcoin after taking profit.

Short term correction is really is painful for those traders that is using leverage because price swing is so strong on both side. Your suggestion about holding firmly is really the best strategy's on this uncertain times since Bitcoin will surely rise even without Bitcoin approval since Halving is the most prestigious event on Bitcoin since the beginning.

The talk of ETF approval is what's on board for now and because of this, many investors and holders are scared, thus, taking their profit before the market crashes.
Also, more money is being invested in BTC because of the assurance investors have of the ETF project being approved and as such there's every likelihood that Bitcoin will pump harder than before.

Although am quite certain about the bullish market season of 2024, just after the halving expected to happen, it is to note that altcoins and shitcoins have been dumping hard recently and every one investing in them should be careful not to make serious losses.

I am very certain about the bullish market season after the halving, and as such my advice to any true crypto/BTC investor who may become millionaires in the next 12-18 months, would be to hold tight and not let any short term corrections stop them or put them out of the market until the duration of their holdings is complete.

What are your thoughts?