Bitcoin Forum

You heard it here first.

 :D



edit - Looks like an ascending triangle is forming on the 1hr and 4 hr charts. You heard it here first!

 Quoted for posterity.

 Care to speculate on the possible value at the time of the dump?  It would suck if we were to see $19667 followed by $12783. 

Quote for "trollery".

Seriously, No clue. Price and time getting it right is near impossible.

I'm just speculating on the move in price, not the time frame.

Wouldn't be surprised.

There is already a lot of FOMO and markets have been rallying for months now. I don't think that this is sustainable. The correction could even come before the ATH to flush out the weak hands.

Long term prospects for BTC are bright as ever, but when you have mainstream media covering stories like Citi's leaked predictions of a $300k BTC, you know that likely people are no longer thinking rationally within the market. And that's when these adjustments hit most often.

 Damn my alt is funny :)

I dont know or care that much about ATH as its just headline action not the bulk of what matters but more recent then that it formed a lower high on a closing bar basis and now its challenging the channel up for most of this month.   This might take the next month to decide and I think the main market traders who are closed over the holidays will be glad to be out of it till then hence weakness from a departure by some is fair game.

Here is BTC on 5 minute bars hitting the bottom trend of the channel to bullish price over the last month so its a good bounce but I think the longer term we'll have to revise and reformulate any continuation of the bullish trend.    A 35% correction is not a big deal, that might be whats happening but for the moment its still short term formations.

https://talkimg.com/images/2023/06/12/ALDbW.png

Target to beat just for watching I think is 18k then 18.5k and ideally we take 4hr bars for proper solid movement.

It barely reached the recent ATH last 2017 and right now the market is in a correction phase right now.
$17,898.01 is the price of Bitcoin a while ago and as usual all of the altcoins followed its movement (or possible some did the opposite).

Either way, a correction is needed in every market and TBH I don't really care if it goes beyond its ATH or goes to a correction. Expect for more further downside movement in the next hours or days :P.

When it had a double top at $19500 it was a sign that it might not break ATH this time around and now we went to the low $17ks already.

I am not surprised, this was pretty much the max pain spot since people basically sold way too early at $14K and most wanted to sell at $20K or something like $50K or $100K. So the market does what the market does best, disappoint the majority of investors.

Sad but happening now that the market is again in Bloody situation though I'm lucky and great as i have sold my Ripple at 0.72$ per coin so now that the value is 0.56$ i will wait if this to fall atleast around %0.40 cents and i will buy back all my investments.

Bitcoin and ethereum is what i'm concern because i keep the holding so hopefully this correction won't continue to Bear.

And the December is what we have to decide,though i can still hold upto when the right time come.

Nope, lots of people have been planning on that scenario. Now that we've seen a double top at $19.5K and a 16% drop so far, it's beginning to look like the shakeout is coming before a new ATH.

Everyone ready to buy the dip?

Mmm the time has come, as expected bitcoin may encounter a resistance level at $19,5k-$19,8k. Yesterday we thought BItcoin will break the new ATH soon but today it falls 16% to $16,3k because billions of dollars get liquidated from exchanges which Binance is the highest worth about $840 million. If Bitcoin would actually fall by as much as 35%+ then we can expect it to plummet to $12,6k within a few days. However, bitcoin seems to hold its position above $16k and gradually recover to $17k at the moment, has the correction been ended with only 16%? is it just a minor correction to create fomo among weak holders?

I think half of these people are very bullish and are waiting for Bitcoin to reach the $20,000 mark, and half of them are looking forward for the correction (those who have sold earlier I guess.)
Nevertheless, this will put a lot of people into disappointment. At the current price of $16,000 by the time I'm typing this is still considered as expensive buy, So a further dip might be happening next, or the other way around.

There's no $20,000 now, the correction has started and I think bitcoin will dump more, it's not over yet.
IMO, the best price we would see by the end of the year is $15,000, sorry for ruining the part, that's just my honest opinion.

Nothing wrong with bitcoin closing this year at $15k, still a good price to be honest, from lower low of $3k during March's panic and ending at that price, its 5x. The price continue to slump but somewhat recoverd around $17k but I think we will see more sell-off in the next couple of days. Not sure though if it can go as low as $12k because if that happens then others might doubt that a new all time high can be reach at the end of the year.

We didn’t touch the new peak yet so I’ll not agree on this one.  :D
The market is on its way down again, someone has to stop the correction and continue the uptrend, I’m still optimistic here because I bought some at the uptrend hoping to get at least a short profit, so this must not the end for me, haha.  ;D

This is our moment to collect good staffs again and never miss this chance, anyway the trend is still better since Bitcoin price recover from a $16k correction easily so that means to me that we are indeed heading the peak price. We learned from the past and use it on a time like this, let’s not make any fun here and have your serious strategies in buying and selling.

20k will be a new ATH, as will 50k;)

@exstasie: totally ready... except since I'm earning anyway I'm going to be hoping this dip worsens over the next two weeks, and I'll invoice the hell out of my clients =p

I wonder if anyone "trades" like I do haha. I haven't timed by invoicing and Bitcoin sells for a long time until the past 6-8 weeks or so haha, so far to success =p

Damned if I'm not enjoying it.

Not quite 35% on the downwards movement but we're getting there, and it seems that the sell-side of things have been aggressively putting the numbers up within the last few hours. A retrace to a more comfortable position for buyers is literally just around the corner, perhaps $14000 - $15000? I'm throwing random guesses out here, but these levels are more likely to prevail within this week or next few weeks considering that most of the buy walls are aggregated at this price currently.

At least OP is honest about what he is saying. He said he is just guessing and nobody can predict it correctly because we have no idea whats going to happen, and I agree with him. I do not agree with him on the new ATH and 35%+ correction part because we do have corrections, here we were in one of the corrections right now and it wasn't nearly at 35% levels, this was more like 10% correction give or take and I would say something similar may happen as well.

For example reaching to $22k and than dropping to $19.5k levels could be pretty simple and realistic as well, I am not sure if it would be exactly those numbers but I am sure it will be something similar to that at least. The price will probably have a correction of maximum 20% and probably not even that much.

Waiting patiently for this 35% dip.....

I'm waiting for the ATH first that is possible to be seen in minutes.

Then I believe a dip is necessary to make the market healthy and we all have the opportunity to buy again at dip.
As of this writing bitcoin is already trading at $19700.. VERY CLOSE!

some monitoring here

https://www.binance.com/en/trade/BTC_USDT?ref=H31B921U

Why exactly 35%? For a highly volatile market and a correction after reaching ATH, this is an ordinary figure. It is even difficult to call it a correction - just increased volatility when ATH is reached. I think that if there is excitement and an incredible increase, the percentage of correction will be larger and more dramatic.

Now that it has rallied right back to ATH-levels after several day dip, I wanna see a push past ATH to like $22k-$24k before a full on correction to back to $13k-$16k range to set that up as solid support before moving past $20k for good this winter.

I don't think btc will fall that big because we were lacking volume during 2017-2018 pump and this time, there are lots and lots of institutions daily buying btc in such volumes which even present total mined btc isn't enough to meet the demands. There will be a correction as the coin has gone up so fast, but it will not be such a dip like old days so you better not expect it to give you a chance to buy it again at $3000  ;D

Volume always includes a buyer and seller, we are rising in price presumably because there is an excess of buyers but we can still move down on volume also.    There will always be more sellers to tip the balance in theory but in practice many hold fast at present prices and market sentiment.
    We sold with Thanksgiving, that could foreshadow the xmas effect as I like to think of it where we have a series of national holidays in many countries and we can get light headed in this atmosphere.    Sometimes xmas brings light volume and prices can rise during this, I assume prior we would have had selling perhaps but also xmas can bring selling as buyers cease to be the majority for that time.    Its a while off yet so its interesting how bullish can price act mean time.

The price of bitcoin touched its all time high valuation today and i am waiting for the market to have a huge correction as you mentioned  ;D. Whenever there is a correction the market is recovering so fast and that means there are huge investors glued to the market to invest whenever there is a correction and until these situation lasts i do not think we will see a 35% correction.

No we hit it and fall back a little.  Dance around 19500-20500

we will eventually move hard up to the range of 25k-30k.

This December

In January a big correction maybe 14-16k

Then take off in fall of 2021 over 50k.

He went after what happened in 2017 after old ATH was reach. History is usually similar but never totally repeats. We had correction from $19300 to $16300. That was about 15%. That could be it or we are still waiting for big correction.

For sure there are lots waiting for some big correction specially to those who sell off into those peak price between 19000-19800 and for sure those who had already secured out their profit will be
longing to see those deep reds to buy again and then Rinse and repeat on the same process.

-35% correction isnt something new into this market and people should really expect the unexpected from time to time.For now the price do able to held up strong on what we are seeing now.

It do corrects but not really that much of a severe case similar into those previous years that we do almost heading to the floor.Its really hard to make up some prediction if you dont know
on where it would go further.

You sound quite confident! I prefer to take it wave by wave. Things aren't that predictable.

I like your time line because it fits the current uptrend and also fits with tax season implications. But I'm still not convinced we're busting through the $20K area without a harsher pullback first. Between forum sentiment, the Fear and Greed Index, and long funding rates, sentiment tells me more and more people are expecting a strong push upwards very soon. That makes me wary of a shakeout. Greed often gets punished.

I'm still jumping back and forth between "tight stop mode" and sitting on the sidelines. I only want to rebuild a very large long position after a crash.

That's where the excitement live, we don't see a new ATH here, people will either short or long it, it's two sides of action and when this will take long, those who short might win. Anyway, prediction of OP is still possible, we still have plenty of time, December has just started, we will see a crucial month to see how people react on the price movement.

January leads into Chinese New year Feb 12th, could fit possibly but I dont know its that neat.  We have a new electoral term starting around then, I dont know thats helping via an easy money policy or stimulus cheque or who knows what upset might be perceived by markets but Im not guessing 50k for 2021.   I dont know why BTC should be concerned with dollar events like that but seems like it is.   We have too many deflationary events, it might equalise upwards eventually but theres alot of upset for the next year imo.
   Anyhow today I looked a few times and thought it's pulling back but also its made a slight higher price.    18500 is a price it needs to lose and also we are below 2 day average and lowest price today was a weekly average, it does seem like it must pull back further before a greater push upwards.  It could develop into pulling back for the rest of this year for all I know, alot of froth and hard to judge seems like.

It is not surprising that when Bitcoin reaches a new all time high there will be a deep correction. This must happen,
so that the increase in Bitcoin can be even higher. But most people panic when correction occurs, even though we have
to stay calm and hold the Bitcoin that we have. Because it usually doesn't take long for Bitcoin to rise higher, after
the correction occurs.

Hmm ... maybe I'm confusing something, but it was no longer a correction. It was a downtrend with pullbacks and it continued right up to 3.5 thousand. I understand that we can distinguish different periods of time and call them differently, but in that case, everything is more or less obvious.

There are many different factors that interacted in 2017, today in 2020 events so volatile and unexpected have occurred that it is difficult to establish a comparison at a Fundamental level, however, the patterns in the markets tend to repeat themselves, we are experiencing events such as the massive purchase of the 70% of the virgin bitcoins mined by Paypal, the announcements of many investors who have been migrating towards bitcoin, entrepreneurs who are accepting Bitcoin, this has somehow helped the price increase, because we cannot forget that COVID-19 it is cause for panic worldwide and markets are often compromised by these events.

I think this happens time and time and time again; i noticed also that it doesnt have to be bitcoin alone; it happens with most tokens in the market; there is massive price increase followed by a price correction; then there is a repitition. Your prediction was correct lol; I implore traders to continue to do their own research

Not sure if make a small bump above previous ATH qualifies to me as a "new ATH".

Need to see a sustained move for at least a whole daily candle before I consider it a new ATH.

Noise in the short term.

I think it is wrong to call bitcoin a bubble; either today or later in the future; price surges are normal in crypto currency as well as price corrections and as a trader i suppose you have to get yourself accustomed to this terms because it will continue to happen as long as crypto currency exists. One addition is that, you should continue to do your own research and focus on your trades.

The correction is overdue and I will not be surprised if BTC retraced to the 14k region before taking off again and that is when the bull will start to run without looming back.

It is what it is, an all time high is simply the highest price ever reached regardless of the time it remained in that level or close to those levels, so it qualifies as an all time high, what it will be interesting to see is what happens from now on, we are now seeing a very small correction, but for what I can see there are many so called news that are trying to scare weak hands from the market and I am curious about how will they react.

Will they get scared and begin to sell their coins? Because if they do they will play right into the whales and institutional investors hands as they will buy their coins in a heartbeat.

$16k will be a good gauge, if we go down in that price, I will not be surprised to see further retracement up to $14k. Currently we are in the $17'ish range, probably majority are nervous seeing the price at this point, nevertheless, I believed that this kind of dip is needed to go to the next level of new all time highs of $20k plus.

Again, let's just be positive and see this dip as healthy correction, and a golden opportunity to at least let your wallet accumulate more bitcoins. And probably 2021 will be the year wherein the imminent bull run that we all have been waiting for will happen, similar to 2017.

Well still waiting for that 35%  ;D while also waiting for ATH  8)

But it the 35% correction will happen at least 3 days after the ATH ,that would be enough preparation and decision to Either quit or remain Holding.

But i will surely Sell first as i want to have added value when i buy and hold again.Hopefully that Correction will trigger the coming of the great Bull soon.

and also when this happen?i will Named you as Nostradamus of Bitcointalk.prg lol

We had the ATH, I know many people do not agree with it because we have bounced over it for like a hundred dollars or something, but the official all time high is now 2020 and not 2017 and people can't really talk about 2017 anymore like it was a special thing, we had it once again and even more, I understand that we didn't go well and beyond it, I understand there were some places in 2017 that was much higher than the official number we have now, but it is still broken and that is the ATH.

However there is absolutely no 35% fall at all, maybe one day it will happen, maybe if we keep failing to move upwards like this constantly there will be some short futures that will try to crash the market and liquidate the long futures in order to profit, but for now we had only one of this.

Cant we still consider for this as a bull run? Clinging up from 10k to 19800 in a short span of time isnt something that you can just called as a normal rise of the market.
We've been hoping or looking for this kind of value over the years after that 2017 bull run and here we are now but the price hadnt able to break its previous high
which might be a frustrating thing but at least the price isnt reallyy crashing back on where we do start. 35% correction isnt something that you would be surprised
because this intensity of such correction or sell off is already common into this market.Thing here is that you do know on how to handle out yourself in times like these.

Not exactly. We saw a new ATH on November 30th. Not just on one exchange either......Bitstamp, Coinbase, Bitfinex, all surpassed the 2017 ATH. There was just absolutely no follow through and price immediately dipped back below.

If the 35%+ correction happens from here, the situation would parallel January 2017, when BTC tagged the 2013 ATH (just barely) and then crashed back down to $800.

Technically, a new ATH was installed, but I think very few people perceive it as a new ATH. Everyone expects a serious increase of 50 or one hundred percent from the previous one. In addition, if we take inflation into account, it turns out that the old ATH is still unmatched.

Of course this can still be consider a bull run technically, from $3'ish to new all time high this year. But the problem is that there are a lot of members here looking for the bull run similar to 2017 and waiting for a perceived all time high of $20k or higher.

$20k might be selling off point for some traders, maybe because it was a whole numbers or when the new all time high was reach in most exchanges, they do liquidate and take their profit. But personally, I believed that the 'real' bull run will be next year.

I will wait for that new ATH because I am waiting for a long time, and I am sure that people will do the same. We miss the new ATH after waiting, and if that can comes at the end of this year or next year, we will not have a problem waiting for more. We believe that the new ATH will come soon, and that makes people still buying bitcoin now.

But if the new ATH makes the price to have a correction for 35%, I will not have a problem, and I will make sure to buy back bitcoin again at a low price. That will be the best time to buy back bitcoin after we sell at the new ATH, and I think that can give more bitcoin to people who buy it later.

Yeah your the first and maybe will be another predicting thread in future  ;D

But given that after every Bull correction follows or much Bad like Bear market in which 2017-2018 shows as all ,witnessing how Great Bitcoin move the whole 2017 but then before the year end starts to fade and when 2018 comes continues the downfall .

What we have now is Hope that this wont happen again.

I don't think that's going to happen we are in a different environment we are too far from adoption and if there's going to be a correction, not something that looks like a big crash after we hit an all-time high there will be a correction something like a 5% drop then the price will move up again because the confidence has been established.

What was your entry point if it's not a secret? And at what point are you planning to exit? I think it is dangerous to exit at the first serious breakout of ATH - no one knows how high the price will rise, perhaps you will not be able to buy back at a good price. I think that leaving from the asset completely is unjustified (by the way, I made this mistake  :D ).

Think someone told ME a couple of days ago not to divulge entry points -- looking back I think I'd agree with this advice. Best not make yourself a target.

I didn't reveal too much at all, other than my dream fantasy target which never happened and likely never will. My account details already give away when I started on this forum but yeah, I'd say to exercise caution with what you tell people you trade at. No point painting a target on yourself.

Sure, but that's irrelevant to the point I was making. Even if you and smoothie don't perceive it as a new ATH, the market could easily just tag the old ATH (or fall slightly short) and then correct 35% while bulls are waiting for new highs. There is no need for some sustained new ATH first. That's all I'm saying. We could see another January 2017 shakeout, instead of one like March 2017.

Okay, I understand you and agree with you. After all, privacy is one of the fundamental stones of the cryptocurrency. As for me, I take this more easily, since the thousand or two or three dollars that I dispose of are hardly interesting to anyone  ;D
Maybe that's why I am skeptical about trading - an increase in interest on a small capital gives practically nothing.

I'll looking for pullback but its gone up recent days of course.   The decision now I'm trying to decide if its operating outside of its previous series or trend of gains, we've met roughly the same area of highs seen for this month and its near ATH but not building in the way I would like to see in order to be fully confident of surpassing this area.

https://talkimg.com/images/2023/06/12/ALMKJ.png

We've touched the bottom with monthly average on Friday, passed the 2 day on Saturday and beaten and confirmed above the weekly average just passing into Sunday so we have momentum.  The doubt remains that we need to do this during the week not just weekends, the two currency flows can vary in their sentiment and strength so Monday is a day of conflict imo.

Why not indicate when this be happen so i will be ready to purchase more and now this time pure Bitcoin and no altcoins.
frustration is what Ethereum gives this year and also XRP for many holder,even the Events of these altcoins seems nothing in effect so it's better always to stand for bitcoin and not for alts.
but i think not in this year to happen?mid of next year or till 4th quarter.
If we will make ATH for sure it will be dump back again because too much waiting and stress is what people get this past months.

I've added an edit to the OP as follows...


Looks like an ascending triangle is forming on the 1hr and 4 hr charts. You heard it here first!  ;D ;D ;D

Yeah, that's sort of why I'm a bit less careful than I should be as well with my Bitcoin history. I suppose it'd make a lot more sense if I were actually accumulating something more significant, so maybe if I talk less and less about my past and BTC, it means I've somehow found a way to make mo sats;)

Trading's all right. But yeah, I have a full time job and full time life. Not the kind of situation that's good for trading!

Wow, that seems to be a good news, let's see if that would continue and it will bring the price closer to $20,000, honestly, I'm already negative that we will see $20,000 this month, I thought there's not hype anymore and the price will just correct soon.

I hope I'm wrong fellas.

Same. It's funny that this state of affairs leaves all the best opportunities for those who have an excess of free time and who, in a sense, can be called idlers  ;D However, I think that trading becomes good starting from the middle distance, everything else is casino/luck.

Well, I never like to look down on any kind of activity. I'm no elitist, and I know I've been there before too. Spent probably my first few weeks before I ever came into this forum hunting for faucets and then burning them all up on silly casino games. It's all good. Trading, speculating, it's all part of demand and that plays its role in the "ecosystem" one way or other =)

The Bitcoin pattern has been repeated several times in the last 2 months, trying to break the $ 20k resistance level. The bulls are still not safe here, it drops towards the triangle support and consolidates to find support again to eventually break up. Bitcoin is obviously against a big resistance around the $19,4/6 levels which won't break easily and the attempt to break $20k still not seen as bitcoin has not hit above $19,5 again.

 It's already back to test the $19,500 waters.  I think smoothie might be onto something here.

I hope not that 35% correction but a dump or crash and we can consider this a repeat on what happen in 2018, I believe we are more matured now and we are ready to take the market to a lot of milestone so selling it after another all time high is not good for the industry, we need to think long term and embrace it.

Everybody should avoid being greed this time, and thinking about long term we really need to grow and learn seriously. Not even bothered with different speculations and negative comments. Because if you just have the desire by your own, the entire community will not benefit; though we gain good but not sustainable. I don't see something's gonna trigger crashes same with 2018, but let's be careful with our decision making while btc is on recovery state.

35% dump for Bitcoin is very deep, this is like what happened when the price of Bitcoin reached its All time high in 2017,
and dropped to $ 10k in 2018, of course if this happens again in the next ATH bitcoin,
then everyone will say that Bitcoin actually become a bubble. thats a scary!

It could be. But that will be no problem for me to wait for the next year because I have many times to buy more before the price increase.


That is what we already saw with the last ATH. The price rise so high, and then the price is down slowly, and sometimes, the price is dump back. So in the next ATH, I guess that will happen again, so we need to anticipate that moment, especially for people who already got that experience before. We can profit before the price gets dump too hard, but don't be greedy to take profit.

In some altcoins this is closer to happen specially XRp in which falls down19% this week alone and continues to drops value over night.

But i'm looking for Bitcoin to happen this speculation because i believe that investing in this currency is more valuable than other altcoins.

so having them more is much prettier than having Shitcoins like XRP and other coins similar to those BS coins.

Maybe next year.

I am not really hoping that it will reach a new ATH, I mean I am but then it seems it cant and then it can and then it cant so I don't know. If it happens, it happens. It is not like I will be selling all of my Bitcoins, maybe just some of them and use it to celebrate the exit of this worst year and welcome a new and maybe prosperous year.

upon reading this my reaction is changing from this > :) to this > :-\ and then this > :) to this again > :-\ and so on . confusing isnt it ? but who wouldnt be ? we know btc .

ouch . i dont blame you for saying that this year is worst coz i know there is covid and many popular personalities passed out but not because of covid and others... but for the crypto the year isnt that bad because as we see we finally reach this prices again and it took almost 3 years for this to happen but lets hope that next year are going to be more better than this year .

Also expecting a dump once we hit 20.467$  :D just gut feeling...

Technical analysis is the key and this is his personal prediction. In every ATH, there's always a correction or else it will not called an All Time High if the didn't go below again and just continue rising. The 35% he mention is the standard correction using fibonacci. There's nothing odd about because most of the traders knew it. The only thing questionable here was the price of ATH.

Bitcoin just did all time high crossing over 20k$ and is currently around ~20290$ which is crazy! This happened a couple of minutes ago and it keeps going up as the resistance is no more! We might even hit over 21k$ today as this rally has a lot of fuel behind it.

Happy 20k everyone!

This may be the ATH breakout and then breakdown I originally spoke about. See my last post about my definition of ATH and let's see if early next year we get a 30-35% correction as people capitalize on tax deferral into 2022 by selling in 2021 January.

Do they need to sell by end of 2020 to do that and that would just be one country the USA I presume or maybe multiple ones use this date, more common would be april 2021 as a deadline I guess.     I do have a top but all the same price does seem very bullish and its hard to predict where the momentum will stop .   It has regained all the averages I follow short term and is coming against a trend it held since Nov start when we rose so fast, 2nd attempt today is occurring here.    As always I will look at daily and weekly bars for greater significance and accuracy but it seems valid in more then just hourly trade basis this conflict into an old trend could be temporary.
   If I look at dollar for a wider take, its generally losing ground day to day and previously broke below a range negatively.   In 2021 I do expect a lower move and a gain by opposing forex FIAT.

This is what we call prediction.  :P

Happy $20k too. How much that would be if it corrects around 30%-35% on next year? $12k-$14k?

Preev's price saying it's $20,840.

Perhaps you misunderstood me - I'm not an elitist either. I have full time work and full time life and I envy those who have a lot of free time, I do not look down on them.
I agree with you about the development of the ecosystem - for the most part in the initial stages, development occurs due to the activities of enthusiasts and people who just spend their time for fun.

We are now setting new records I hope that 35% correction will not happen it's just to huge it's more like a big crash, it will not happen if the holders do not sell, yes they can sell some but not ll of it or half of it, we do not have the luxury of going down to the $15000 then coming back again, it's like we are starting all over again.

If we have survived from a big correction in the past, I think we will if it will happen.
Don't be afraid or get worried with the correction, it has already become a normal in the market now.

If bitcoin will stop at $25000, then we will have to dump at $16,000+ and we will be stable at that price.

Please get yourself used to it as it's how the market move.

Oh, no, I don't think I was calling you elitist, I just have experienced myself (not directed at me but at others) the disdain for others doing those... menial tasks of "earning". I don't do them myself and if I could advise people, would also tell them to avoid it.

But we can't ignore how all these people and their tiny contributions in some way helped Bitcoin get the foothold it needed in the first place.

It's still nice to see people having fun and using Bitcoin today too.

But the good thing is still the price of bitcoin is increasing which means we are still in the reach of new all time high so let's take 30K as new all time high followed by the correction as OP mentioned then it is still a healthy correction. 8)

It's inevitable though, if the market decided to go south and make a 35% corrections as others are pointing it, then we couldn't stop it. Big crashes is also part of bitcoin's history, but what's important is how it's going to recover after that. We have seen worst corrections, but bitcoin is very resilient so it's possible that we can see $15k again, or revisited $18k.

It will be a total reset, but we have full 12 months next year to bounce back to $30k or even more.

Do you think we will have a correction below 20K ?  There are so many buyers that they are not letting bitcoin fall below 22K and if this consolidations continues we may see 25K too. Although i think we need a healthy correction before moving further otherwise the dump will be more brutal.

The huge possibility is it may drop at $16k level and then watch for another uptrend which btc will possibly skyrocket up to $35k watch at $23k to $24k levels since correction may occur at this level.

$24k hasnt been broken yet but we do almost reach out that price but the price had eventually corrected and made up some pullback.Thing here is that it didnt really go down so much
on where it went below 20k price point which is really an indication that we do really have some strong supports below which would really avoid the price to go down into those levels
which we dont want to see again.

-35% correction is most likely to happen yet we know on how unpredictable this market is.The important thing here is that you do know on how to play with these movements.
Expect for correction from time to time rather than anticipating that this bullish run would continue even more.

We cant just expect nor see the market will continue to behave like this and we know that there would always be a sell-off afterwards.I had already secure out my profits
that ive been holding for too long.Dont make or let yourself being greedy or else it will really be the cause for you to regret.

Yes, probably.


Sure, we could easily see $25K first, then get a brutal 35% crash to $16K. The short term is way too difficult to predict, especially since price is in uncharted waters.

This is more about knowing where things are headed once the selloff begins, which historically is a 33-42% decline from the top. If you were around in December 2017 or June 2019, etc. then you'll know what that kind of breakdown looks like. Then you can focus on where to catch the knife.

There are also many short time traders that bought Bitcoin with a vision that will go over $100 before end of the year. Sooner or latter they will lose patience and sell. It is just some China or whatever FUD needed to shake them out. Anything is possible with Bitcoin. What I pray to god is that we finished with Vegeta memes.

I believe correction will not be as big as $16k, that is too low to fall and if it falls from here to $16k levels that would mean the start of a big bear run, hopefully that will not happen and we will do a lot better than that for a correction. Difference between correction and bear run is a tiny one, sometimes we go down to a level where I believe it will be just a correction and go back up, but we go on going down and surprise me, sometimes I think it is a bear run and it becomes just a correction and goes up.

So, I can't say if $16k is guaranteed start of bear run but we are above $23k right now, we should not be that low if you ask me. That is why I think around $18k-19k levels are smarter levels, that would be $4-5k drop and after that we could definitely try for a higher level, something like a $35k or bigger could be possible after that.

We cant really remove that kind of possibility because it can really happen just like on what we had saw in the past where we do believe that it is way too far for us to drop like that but
we did even touched 3k to the lowest where everyone do presume that we might be ending up on having less than a thousand price.Everything is unpredictable this is why its hard
to say that we wont really be dropping that low but dont removed into your mind for the possibilities which do always lurk in the side.Correction and pullbacks are common
because you wont really be calling this as a market if it wont really be correcting and just continue to rise.There's always a sell off level but lets hope that it wont really be that bad.

@OP, Least I could see there coming whenever the time of dump would be, $19500 and if even worst, then it will be near $16750.

So your target of 35% will be touched, not as an exact number but to its nearest and that too won't be so quick but slowly as the money is settling things for BTC in such a way that it is now looking to range itself higher.

It is either to happen or not, we can't stop it, and inevitable. As some say that, the quickest it hits the peak, is just also the way it dumps. That is why we better have expecting dumps after this and anticipate the market corrections first. If we have some Bitcoins in our wallet, the best thing to do is to secure them now.

I have once missed it last 2017 coz I was thinking that the bullish trend will continue and I keep holding, but it was very unfortunate that it dumps. I'm thinking the same scenario and this time (for me) I shouldn't have to lose it again.

It's scary if that 35% happens so far the market is still good, the momentum is still there, there's still potential for Bitcoin to reach $25000, I expect correction to happen but not what OP predicted a 5% correction will be ok and we can still consider a bull run trend, I hope if there's a correction it will happen next year.

I wonder if such a correction happens how many people will make additional purchases? A funny psychology - now it is expensive to buy because the growth has already taken place and many are waiting for a correction. But after the correction happens, it will be even more difficult to buy as everyone will expect further decline.

They won't because this is correction and big correction usually cause panic among buyers, especially the newbies who were into FOMO and bought bitcoin at its peak, we will certainly see that soon as the market will certainly start its correction anytime.

today the correction has occurred, a decline of almost $ 3000 occurred in the price of Bitcoin,
of course this is a deep correction, but the recovery is also very fast,
reportedly Mycrostrategy also bought bitcoin again, whether this is a sign that the bullish is really strong or not.

Basically the correction occurred and the recovery level was fast, this signifies that Bitcoin has started growing unlike before when we had something close to $1k correction it do take Bitcoin some days to recover. This Bitcoin correction was reportedly be fast becasue of the Mycrostrategy investment, so, things will continue this way as institutional investors awake and Bitcoin will make us proud as the best investment.

If you're afraid of the correction is this a good idea?

If converting bitcoin to either stable coin or USD will give the same impact I guess they can be both get affected by the changes in the purchasing power of the currency. If the price of bitcoin would dump as what most are expecting after the ATH I could suggest that the only options we have are to convert it into USD or stable coin which has a higher chance of saving its value rather than being dumped when the price corrections take place.

However, I'm in doubt that price correction will happen again since the bitcoin enthusiast right now is already aware of what may happen if they will do the same thing as they did in 2017 and due to mass adoption we might experience price shakes but it could easily be recovered and boost the price again in an upward trend.

People does have different impression between a correction and a price crash.Of course we would be seeing correction in price but eventually it would really be recover afterwards.

This had been a pretty common path that we are taking.It might have that definite time on when it would happen but somewhat we do have some assurance that it can happen in long term.

Just be sure that you do know on what to do when theres some opportunities to get in while its still cheap.

Another example of bitcoin price going up and down a bit happened today, we have reached to %4 or so fall once again, we were over 24k price and now we are under 23k price, which shows you that we have gone down a bit today. However just because we have small corrections doesn't mean that we are going to keep having those kinds of corrections and turn it into a bear run neither.

It is just once or twice before we do a big jump, it always happens and will always happen before those big increases. For example before the big increase we had right now, we already dropped under 17k, reached nearly at around 16.3k all the way from 19.8k price and that fall was scary for many many people. However we are above 23k or so now right? Obviously that was just one thing but we had similar stuff a lot of time before as well, which could be what is going on right now as well.

Because not everyone know how to read the chart that's why they always think about crashing on e bitcoins price dump, but for the person who always read the chart they know where to position to possibly gain that's why I encourage everyone to learn the basics of chart reading since this one is really helpful so that they will not easily get panic by the people who tell the bitcoin price will dump so hard.

Still waiting for  35% correction ,if talking about bitcoin but XRP seems to be having now .

32% drop for just more than 24 hrs ,

If this is what your prediction says then you are a great one,I have not seen this coming because i'm focusing in Bitcoin ..

At the moment I'm not sure if converting to stablecoin is a good idea. There is no guarantee that a stablecoin will not crash as much as a ripple. The best option is a real dollar, any derivative adds additional risks. Regarding mass adoption, unfortunately I cannot say that there has been any progress.

We will see, the hype is on now, lots of people are in belief that bitcoin will not anymore dump because big institutions are investing on bitcoin, same stories I heard last 2017 and some even said there's a massive adoption already, so I believe it's not different this year or next year in terms of correction.