Bitcoin Forum

After the recent bitcoin boom for few weeks the market looking very weak after all.
As of today the market is looking all red, what is really happening is the correction near or what?

https://i.imgur.com/0yEu1zr.png


Share with us your thoughts, thanks :)

I don't know why you are saying that. Everything looks normal to me, and is not even that red, both in number of coins in red, and on the amount of loss they show (if you take the top100 coins into consideration, and not just top10). There are a lot of coins with 2 digit profits, and the overall marketcap of crypto is still above 300bln. This looks like a normal day in crypto for me, and I would say that we are seeing consolidation and not a correction. This can change of course, and it's hard to make those predictions, but right now I think things will continue like this until the bitcoins futures are launched in the next weeks.

Still looks normal, at least for now. The price really haven't moved much for BTC, still within the 11k range. Same for the alts, it just happens there are times that they'd look like they've all gone red though the price haven't really fluctuated wildly.

Actually there is always confusion between two different rates, one in the USD prices and the other in the BTC rates. If you select the BTC rates then you will see everything is in green zone. This has got to do with two different markets and prices relative to that one.

The correction has already been done and there could more often if its not completed the cycle that it should go through. Also, more often the investors are making good moves from one coin to another now a days to grab those little profits in day trading. So you will see lot of fluctuations in the market currently and might just wanna get feel for it after having coinmarketcap overview.

Its been quite a routine of cryptos. One day you will see whole market booming with green tickers everywhere while the very next day you will see the coins bleeding out all of their accumulated gains. This is the very reason that crypto market isn't everyone's cup of tea. You either have to be a big expert who can predict each dozy and hammer or just a superfluous personality who doesn't care losing his bucks one day to gain them back the very next day.

I believe that most crypto coins usually follow Bitcoins rise and fall. That's because I've seen a correlation between them. I haven't been observing for long, though.

why are you looking at the red mark? You must pay attention better in the percentage gained or loss of a coin. If it is only 5% or below changes within 24hours, that is only a normal situation in market. Well see another pump within the next few weeks so dont worry!

It's possible that a correction is near, and there's a small head-and-shoulders pattern forming recently as well.

Notably though, there's not a significant trend yet and we aren't in a bear market.  This swing is quite minor compared to swings which have occurred over the last few months, so it's almost worth ignoring.

From what you have there, there is nothing abnormal from what I can see because 3 weeks ago, price was not even close to what we have now and so if the price should even fall further, its still an appreciation. The correction to me, makes the market stronger in the long run because if the price just continued to rise without taking some hit or retreat, then there is a problem which every one should start getting scared of, it does not just happen that way. Not in the past, not now, never in the future. So, rather than creating panic all over, let all just admit that its one of those things that is expected to happen to price in other to reach a greater height.

This is normal and it happens pretty much every day, nothing new here. It doesn't mean a correction is happening since it is almost impossible that all cryptocurrencies will get a correction at the exact same time. This is just how the crypto market works due to how volatile it is, sometimes it's all red sometimes it's all green, and some other times it's a mix between both colors.
No need to be alarmed, this is normal cryptocurrency behaviour.

I noticed it also, its a regular occurrence so I've nothing to worry about really. I don't think it necessarily indicated inbound correction or one that is indeed happening at the time because as you said, almost everything was red therefore all can't simultaneously be corrected. It could all be green again in a few minutes, hours or the next day even.  Just the cause and effect of inevitable volatility.

If you look the prices for last month they are pretty high and I don`t think that this red is a healthy result. When you analyse the prices also consider their price with both usd and btc.

The reds could be a sign of calmness on the moves because bitcoin has really been on the ride, it may be a time for some backward movement. I'm thinking though.

I don't know why people still got shocked on these kind of events which its just like something new happen into crypto market seeing and questioning why all are almost reds. They are just normal and do happen when bitcoins price is soaring up but not all alts go turn out to be red because some did able to pump out just like what happen on bitcoin too. Correction can happen anytime and for those alts movements I don't see any correction but only just a simple price decrease which isn't really major at all.

Disagree 100% to me a lot of the strong alts are finally making strides and this to me shows the market is alive and well. Don't know why you think it is red, perhaps your coins are not doing well today and that is anecdotal evidence you used? Anywho it seems to be a little bit of both to me which I think signals those who profited off BTC as of late are diversifying and getting into a few altcoins.