Bitcoin Forum

Can anyone explain me in simple english what is bitcoin correction? And why does it happen?

bitcoin correction is a system process that forces bitcoin to improve performance, usually for some reason, such as the system being updated, BTC sales in large quantities. such as the end of last year, thus affecting the price to be down. .

It's the price correcting when it went way too high, it happens because the bid and demand are not balanced

Is there any way to know when this correction will take place in the future?

Bitcoin correction is a temporary decline in price interrupting a usual uptrend of bitcoin price. This usually happens after a very good run and investors are cashing-out their profit. Corrections also happens when bitcoin comes to a point that people no longer wants to buy due to very high price, bitcoin looses demand which triggers price drop. But in any market, corrections are considered healthy as it promotes good opportunities for trading and investments.

The easiest example and explanation is like the stock market, not all the time prices of stocks are expensive. To make it balance there will be some pull back that makes the price lower and when it goes down that is a correction.

It's an abnormal market if there will be no correction.

If you are specifically asking about the price correction, then to put it in simpler terms this is the price wherein btc does not have a sudden pump or dump in value. You would see that in a particular period, lets say a week or a month you would not see too much volatility and there is a strong support and resistance on the charts.

Thanks for this thread so now I know more or understand quite bit about what is correction especially Bitcoin correction because I am still learning about trading. So, correction will happen in the market.

A "correction" is a general market term for when the price sells off quite quickly, usually after a substantial rise.  You do not know when this will occur, or how far down it will fall, its called in retrospect. 

Bitcoin might be expensive according to Vítor Constâncio, Vice President of the European Central Bank. In his interview with CNBC, we read.
Bitcoin price is showing a classic correction to a former resistance level as it waits for more bullish momentum to sustain the climb.