if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true.
With or without shocking news, it can happen.
Topic: Will BTC go back to $40K - $30K range before a bigger rally? (Read 1335 times)
if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true.
With or without shocking news, it can happen.because in my estimation, the normal correction that might occur will only reduce bitcoin to 60k-57k and that is already quite severe, further corrections will probably have a very significant impact not only on the bitcoin market but also the crypto market as a whole.
It did happen last month and that had stayed there for how many weeks, IIRC. But even if there will be a correction on this potential bull run, back to $30k. That won't matter at all. Everyone is going to rush to purchase at that price range because we all knew that the price would pump a lot because of institutions and halving. 
Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.
Bitcoin taking correction to as low as 40-30K range looks practically impossible, not that one can predict the market but with everything putting into consideration, you know that is a price that bitcoin is not going to test now again until after the bull run has taken place and the market is going back to its bearish seasons.
Before this massive hike in price, remember that bitcoin all time high was about 60K+ after the last bitcoin cycle and during its bearish period, it went down to at most 20K+ which signifies how bitcoin can also lost its value over time before regaining it back. So we’ll be expecting another bearish cycle but I do no think it will go less as the amount it was during the last bearish cycle after the 2020 halving and subsequent bull run in 2021.
After a bullish trend the Bitcoin price may turn slightly downwards which we call a price correction. But that correction must be within a range. If it goes down further from the current bitcoin price I would expect it to go down to 50K but if someone expects more than that I would disagree. Because the market is not yet completely bullish. As we expect to be bullish at this point there is no chance of going that dip at that point. If one waits to buy then one must buy bitcoins between 60k and 70k. This is definitely not the time for those envisioning a major dip. When it comes to Bitcoin price speculation, there is no point in speculating what you want but we should not do any speculation that is not realistic.
if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true. because in my estimation, the normal correction that might occur will only reduce bitcoin to 60k-57k and that is already quite severe, further corrections will probably have a very significant impact not only on the bitcoin market but also the crypto market as a whole.
Always anticipate that there would might be some sudden fundamentals on which it could really be causing up that potential movement that we do have in the market.
This is why it would really be always wise that you should really know on what you should really be doing on times like these.
After a bullish trend the Bitcoin price may turn slightly downwards which we call a price correction. But that correction must be within a range. If it goes down further from the current bitcoin price I would expect it to go down to 50K but if someone expects more than that I would disagree. Because the market is not yet completely bullish. As we expect to be bullish at this point there is no chance of going that dip at that point. If one waits to buy then one must buy bitcoins between 60k and 70k. This is definitely not the time for those envisioning a major dip. When it comes to Bitcoin price speculation, there is no point in speculating what you want but we should not do any speculation that is not realistic.
if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true. because in my estimation, the normal correction that might occur will only reduce bitcoin to 60k-57k and that is already quite severe, further corrections will probably have a very significant impact not only on the bitcoin market but also the crypto market as a whole.
Absolutely! The halving event is a significant milestone in Bitcoin's cycle, and it has historically led to increased prices and market excitement. With the next halving scheduled for 2024, I think it will play a crucial role in shaping BTC's price trajectory. The reduced supply of new coins entering the market, combined with sustained demand, could lead to a supply squeeze and upward pressure on prices. Of course, there are many other factors at play, but I believe the halving will be a key catalyst for the next major rally."
It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.
Many people predicted the direction of Bitcoin's momentum but it ended up being the opposite. Since the ETF approval in January, Bitcoin has been on the rise since it crossed $73k. There was even speculation surrounding the Bitcoin halving, with many thinking it would lead to a major correction that could range from $40k to $30k. Even the price of Bitcoin has been down for a weeks and the price is coming back to the next weeks, I don't think Bitcoin is ready to go down any further.Personally, I don't see Bitcoin going back to $30K to $40K. Even with the last correction, I think the minimum price was around $58-59K. The spot Bitcoin ETF approval brought a massive impact to Bitcoin price which even reduced the anticipation of halving. Sometime last two weeks, we also experience a surge that was close to the ATH, I think around $71-$72K if I remember correctly. I see predictions as just ways of using previous events for future analysis. The ETF approval has already change how things work, which makes some predictions wrong.
It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.
Many people predicted the direction of Bitcoin's momentum but it ended up being the opposite. Since the ETF approval in January, Bitcoin has been on the rise since it crossed $73k. There was even speculation surrounding the Bitcoin halving, with many thinking it would lead to a major correction that could range from $40k to $30k. Even the price of Bitcoin has been down for a weeks and the price is coming back to the next weeks, I don't think Bitcoin is ready to go down any further. 
It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.
I guess may take that opportunity to buy at $57k rather than waiting for it to gown even further. And with that, we didn't see the range of $30k-$40k as what OP has suggested. Forget about the ETF though, I mean it's already approved and many whales and institutions are already buying.
What's important is the retail, the majority of us, average joe investors who really have to grind and to DCA because we don't have deep pockets to purchase Bitcoin. But we keep pushing ourselves to accumulate and then wait till we see a new all time high before we can sell and make a profit.
Let's just say with Bitcoin anything is possible and we can't write off this possibility!
And based on what I have seen in the past, the Bitcoin market can "easily "shade off 20-30K in one week and following week it will be gaining $40K which isn't explainable , but I expect it to have a strong hand at the moment with the entering of institutional money which should keep afloat these lows..and with the ATH just around the corner...should we break this ATH then a new barrier will be created to keep us away from the 30s but failing to do so means bear's 🐻 entering the markets to sell and this would mean markets going red 🛑📉 just hope not to the lows of $30K!
But on the bright side, to build momentum to the upwards we need to sell for panic buying to take place when other investors find a suitable buying price when price dips lower...for now BTC price is at a premium.
And based on what I have seen in the past, the Bitcoin market can "easily "shade off 20-30K in one week and following week it will be gaining $40K which isn't explainable , but I expect it to have a strong hand at the moment with the entering of institutional money which should keep afloat these lows..and with the ATH just around the corner...should we break this ATH then a new barrier will be created to keep us away from the 30s but failing to do so means bear's 🐻 entering the markets to sell and this would mean markets going red 🛑📉 just hope not to the lows of $30K!
But on the bright side, to build momentum to the upwards we need to sell for panic buying to take place when other investors find a suitable buying price when price dips lower...for now BTC price is at a premium.
Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.
We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.
So can we expect a major correction or it's going to go up again and reach $80K before halving?
Let's discuss.
Regards
SK
We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.
So can we expect a major correction or it's going to go up again and reach $80K before halving?
Let's discuss.
Regards
SK
From your topic or title to me I don't think Bitcoin is going to depreciate to $30k-$40k though one of its characteristics is rise and fall that is volatile in nature however I am not saying for sure that it can't depreciate to that amount but with what we are seeing most people has this believe that Bitcoin will soon appreciate to $80k or maybe $100k before this year run's out or early next year but that is more like an high expectation from Bitcoin. Morever, hitting $80k - $100k is not certain we are just predicting based on the surprised behavior it has shown for some months now which gave the thought that it will hit that amount.
This happens regularly in the market, so it is not unusual to happen, but the way the market is currently moving, it seems that the market will not come down as much as you predicted. There is enough support in the market and depending on that support, the market is trying to break the resistances and move upwards. But this condition of the market has happened in a short period of time so now it is normal to have some dumping in the market but the amount of dumping that you mentioned may not happen this season. From what I understand about the chart of the market, I think that the market can dump a little from this situation and pump again in a big way. Every investor is probably expecting Bitcoin price to touch $100k within this year and I am expecting the same.
I agree about bitcoin will not reach the $30k-$40K level again until 2025, because currently the holding trend is much better than what we predicted, and don't forget that a lot of institutions continue to accumulate bitcoin to this day, they are buying gradually and continuously so it is very difficult to reach the $40k price level when everyone is racing to collect more bitcoin. But to the $50k level it is still quite possible because we need to do a retest, but in the previous momentum when bitcoin touched that area then turned back and now to the $69k level again, bitcoin has always been excellent and we will see $100k if the activity of bitcoin buyers is like this.
I'll give a second opinion on this as we come to the end of the week. I never try to be absolute in my reckoning, we should discover the truth as each possibility comes into focus and we cannot possibly see everything with perfect clarity.
The reason why OP lower range is not likely to happen is clearer on weekly bars. The initial rise of 2021 the great surge that was sold to some extent and the closing weekly bars for the start of 2021 was about 58k. That was the line that held us is my summary for that period and also its a Fibonacci line from the old ATH
BTC is long term so I will regard 2021 as relevant now quite easily. The graph shows us only barely touching that prior area of 58k, not for long at all. A recent candle spiked down to that level and quickly recovered. It did look bearish at that time but has held well since, I think the bias going forward has to be positive.
We are stuck in a range but with positive bias we have to be looking for ways BTC will break out upwards and then fight to hold that area for a continuation. I do believe there is less evidence for the opposite take, but I will keep double checking.
The reason why OP lower range is not likely to happen is clearer on weekly bars. The initial rise of 2021 the great surge that was sold to some extent and the closing weekly bars for the start of 2021 was about 58k. That was the line that held us is my summary for that period and also its a Fibonacci line from the old ATH
BTC is long term so I will regard 2021 as relevant now quite easily. The graph shows us only barely touching that prior area of 58k, not for long at all. A recent candle spiked down to that level and quickly recovered. It did look bearish at that time but has held well since, I think the bias going forward has to be positive.
We are stuck in a range but with positive bias we have to be looking for ways BTC will break out upwards and then fight to hold that area for a continuation. I do believe there is less evidence for the opposite take, but I will keep double checking.
It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.
This happens regularly in the market, so it is not unusual to happen, but the way the market is currently moving, it seems that the market will not come down as much as you predicted. There is enough support in the market and depending on that support, the market is trying to break the resistances and move upwards. But this condition of the market has happened in a short period of time so now it is normal to have some dumping in the market but the amount of dumping that you mentioned may not happen this season. From what I understand about the chart of the market, I think that the market can dump a little from this situation and pump again in a big way. Every investor is probably expecting Bitcoin price to touch $100k within this year and I am expecting the same.
I agree about bitcoin will not reach the $30k-$40K level again until 2025, because currently the holding trend is much better than what we predicted, and don't forget that a lot of institutions continue to accumulate bitcoin to this day, they are buying gradually and continuously so it is very difficult to reach the $40k price level when everyone is racing to collect more bitcoin. But to the $50k level it is still quite possible because we need to do a retest, but in the previous momentum when bitcoin touched that area then turned back and now to the $69k level again, bitcoin has always been excellent and we will see $100k if the activity of bitcoin buyers is like this.
This happens regularly in the market, so it is not unusual to happen, but the way the market is currently moving, it seems that the market will not come down as much as you predicted. There is enough support in the market and depending on that support, the market is trying to break the resistances and move upwards. But this condition of the market has happened in a short period of time so now it is normal to have some dumping in the market but the amount of dumping that you mentioned may not happen this season. From what I understand about the chart of the market, I think that the market can dump a little from this situation and pump again in a big way. Every investor is probably expecting Bitcoin price to touch $100k within this year and I am expecting the same.
So can we expect a major correction or it's going to go up again and reach $80K before halving?
After a bullish trend the Bitcoin price may turn slightly downwards which we call a price correction. But that correction must be within a range. If it goes down further from the current bitcoin price I would expect it to go down to 50K but if someone expects more than that I would disagree. Because the market is not yet completely bullish. As we expect to be bullish at this point there is no chance of going that dip at that point. If one waits to buy then one must buy bitcoins between 60k and 70k. This is definitely not the time for those envisioning a major dip. When it comes to Bitcoin price speculation, there is no point in speculating what you want but we should not do any speculation that is not realistic. Thank you very much for your valuable reply. For your information, let me tell you that I bought Bitcoin at the time when Bitcoin was at $16,000 and of course, the bitcoin bought at that time haven't been sold yet because for me, Bitcoin is not a daily profit and loss asset, but for me, Bitcoin is a future investment that I would like to hold for another four to five years.
It's great to hear that. keep saving friends. soon the BTC song will reach 80K
However it is very important to know that BTC will go down further or up from here, so I always like to get opinion from senior people like you that's why I ask and the more one asks the more one learns there is nothing wrong with that, in my opinion.
Don't think that the news about everything decreasing is just for a moment, friends, if necessary, increase the load again. You are one of the luckiest people, where many people are always updated and there are no predictions of ownership prices at all. keep holding on bro.
I believe that this thread was created after the price of Bitcoin reached an ATH of $73,794 in 14 March this year and when we check Bitcoin price history since 2018 apart from 2022 December when the price of Bitcoin collapsed to $18,000 after an ATH of $69k was reached in 2021, and the cause of the extreme fall of Bitcoin in December 2022 was also as a result of the collapse of FTX largest cryptocurrency exchange due to bankruptcy but ever since that incidence till now I don't think that the price of Bitcoin has gotten to such extreme fall again.
We have binance now as the world leading cryptocurrency exchange platform now so I don't see any thing that will lead to crash of the exchange which means that the price of Bitcoin will continue to experience growth from time to time and since more investors are coming in that is how the demand of Bitcoin is increasing which are factors that leads to price increase perhaps nothing will force the price of Bitcoin to go below $40k again except if similar thing that led to what happened in December 2022 occurs again which is unlikely to be possible.
We have binance now as the world leading cryptocurrency exchange platform now so I don't see any thing that will lead to crash of the exchange which means that the price of Bitcoin will continue to experience growth from time to time and since more investors are coming in that is how the demand of Bitcoin is increasing which are factors that leads to price increase perhaps nothing will force the price of Bitcoin to go below $40k again except if similar thing that led to what happened in December 2022 occurs again which is unlikely to be possible.
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Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.
I believe bitcoin will experience another correction and maybe I will see this process continue. But if you pay attention I'm not sure bitcoin will get another $30k correction.We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.
So can we expect a major correction or it's going to go up again and reach $80K before halving?
The upward momentum will be marked by a process that occurs in Bitcoin and generally we will see a small correction process. In fact, I doubt that for this period of year we will see a correction process at $40k because the highest price has already exceeded the lowest value. Even if in the future we will see a long correction process then I am sure it will be above $50k and it will never fall below that price.So can we expect a major correction or it's going to go up again and reach $80K before halving?
I read several articles about sources talking about bitcoin and some of them said we will see bitcoin at $80k this year. It's not about confidence in them but I see an opportunity for bitcoin this year to reach $80k and above very open.
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