Bitcoin Forum

Is it weird that there still has not been a price correction for bitcoin? What does it depend on?

I don't think it's weird, this market cycle has shown significant difference from previous ones and as such we cannot use past experience to predict the future market action. We may yet also be at the bottom of the bull run and could reach far greater amounts next year, so it might be early to expect a correction.

A price correction is sort of a retraction. When the price of an asset gets overly inflated due to hype and fomo, it could surpass its support range and basically be floating, this can be called a bubble. The process of this bubble bursting is a correction. The price returns to sustainable levels after reaching a peak.

Which correction you are expecting of? We are in a bullrun and history says, there's barely a correction occur when we are in a bullrun. I don't know how much will it rise but once it gets the top, the price will fall significantly I guess.

Take a look at the 2017 bull market. There was no major correction between 5k and 20k, which means that we went 400% up without pullbacks. Since we've started at 20k this time (the former ATH), we'd have to go to 60k to have a similar gain as in 2017. Even if we cut it in half and land at 30k, followed by a correction, it's still to early. Honestly, I think that 30k would be much to short for a real bull market and we'll go much higher (possibly with small correction) without a reversal.

Bitcoin has just proved that it's unpredictable by going against its trend of bearish market during Christmas week. This year it has been exactly opposite than the past and when it comes to market correction I believe it has already taken place when bitcoin dropped down to $17k approx this week but this doesn't make bitcoin immune from further market corrections. We cannot predict much now apart from assuming bitcoin will go more bullish.

It depends on what time frames you are looking at but along the way there were some few small corrections thou right now we are still in an uptrend, if you expect a major correction, it will come afterwards, maybe after nearing or hitting $30K. Just make sure you are ready when it comes.

The market response has been huge as the trust in bitcoin to be a valuable asset. I think this is the impact of many companies buying bitcoin. But I remind you that the correction will definitely come, there is always an over buy, but I don't know when. Better still be careful and not greedy.

The market is yet to be completed as technically we are still in a bull run. That would be the reason why there is no price correction for bitcoin even as of late. But as soon as the market wraps up, we should see a significant fall on bitcoin's price but not something that would fall under the ranks of $10-13k. So let's just wait for it and everything will follow shortly after. Precisely. OP may have been expecting the dump way back in 24k but we're already at 25 and still going strong. It's bound to happen guys, bitcoin is not omnipotent anyway. The signs are already there.

Really interesting to watch the btc market these days. If you are a holder that wants to dispose some of your satoshis, you need to closely monitor the market as the drop may happen anytime. The current price is already a very good one to cash out. Right now, we don't know when the price correction will happen. But really happy that we achieve a new level for bitcoin. Some are thinking that we will reach 25k before the year ends and we already achieved that, more than 25k.

The simple and short answer is that the bull run is not over yet.
Correction will arrive, imo it won't be as hard as in 2018 due to the quality of the bull runners. (there are more educated investors than 2 years ago).

There are no correction because obviously, no sellers in the market. I think we will have correction if there is a bad news, but so far all crypto related websites reported all positive that's why the price continue to go up and new all time high are going to be set before the end of the year.

And also, the bitcoin narrative has change a lot, still a speculative asset, but investors are getting smart because of the whole "companies investing and used bitcoin as an hedge". So these companies are not going to sell for a profit, they are going to be long term holders.

How about the $23k -> $21k. What do you think of that? When you say correction, how much do you expect bitcoin to correct? from thousands to ten thousands or just a few hundreds or the example that did happened I've gave is the one?
The normal price mover of bitcoin, demand and supply. We're having lesser supply in the circulation because of the accumulation being done by the institutions and that's making the price higher. There will be some slips but not that much.

This years ATH is no similar to 2017 ATH. The year is not yet over and the price keeps pumping. Correction might happen after this year, there must be a correction since there were people who just go along with the pump. Its normal to see correction, this will show what value really Bitcoin has. Since bitcoin have gain credibility and publicity, its normal to see continuous spike. Still expect a sudden drop, whake can easily manipulate the price.

TBH I have to agree with you bro I have been expecting for a big correction up until now but to my surprise Bitcoin has been defying a lot of tradition technical analysis which I have been doing. Bitcoin still continues to go up without any kind of significant increase in its volume which is truly frightening to see since on a trader's perspective we might see a really big dip when the time a massive selling starts added by FUD. That's why if you are still holding right now I will continue to monitor the prices and see the next move I will be doing.

it's not weird and the price correction already happened but when FOMO is coming and people will not care about that and what they will do to buy more and more bitcoins and send it into their wallets.
The institutional investors have been making the trend become very bullish. The correction will come after bitcoin will have reached its peak position but no one knows when that will happen. It may around 30k or even more.

A bit too early, you can freely compare it with what happened to 2017, but don't compare the prices themselves but rather the market movement. Heck, there may even be quite a huge difference between the peak of what we have last time to what we would have today. Additionally, the bull run we have is quite different as of yet, it actually takes breaks and short corrections before going up in price again, which goes to show how the market isn't really getting influenced by FOMO and FUD, which means it has a better foundation. Well, it would sooner or later experience a bigger correction imo though.

You'd be surprised to learn how many people like you in bitcoin confuse "correction" with "crash". These two are very different concepts and each happen in their place with their own reasons.

A "Correction" is when price goes up 20% and corrects 5%-10%. For example when price went up $24300 and came down to $21800 in 6 days ago that was the correction.
A "Crash" on the other hand is when price goes up 20% and falls down 20% or more. For example if it fell any lower than $21000 that would have been a crash and there is no reason for a crash right now.

Over the past 2 weeks had a very healthy rise and a couple of small corrections with one major one that lasted about 3 days followed by 2 days of accumulation and now we are seeing the healthy rise continue.
And we will see the same thing repeated soon. Possibly reaching $30k then coming down to $28k before accumulation starts and the rise to $30k+ is started.

Price of Bitcoin should be corrected because bitcoin too much greedy right now as well as price of bitcoin might be rejected from 30k..

I guess every time bitcoin price reduces the price, that is the correction time for bitcoin price.
But I guess this time, the correction is not dropped significantly or not going down too deep because after the price is down, soon the price will rise up and hit another high price.
I think we already see the correction at $22k a few days ago, and it stays at that price for a while and back to the high price again.
After this increases, the bitcoin price will make a correction, and you will see it later. But we do not know how deep the price will be down later.

why does Bitcoin have to make corrections? because in my opinion now is the year for Bitcoin and of course the price of Bitcoin will continue to increase (my prediction if the price of Bitcoin will reach $30k-$35k) and I'm sure that soon the price of altcoin will also start to increase, so there will be a bull run like in 2017 and that will make us get a big profit from investing in cryptocurrency.

This is what I'm afraid of the current Bitcoin price increase, there is no price correction since Bitcoin crossed the $ 24,000 price.
This proves that the increase in Bitcoin is now starting to have a similarity to what happened in 2017, I am very sure that now
FOMO is starting to happen. There is a possibility that according to my prediction in January 2021 there will be a collapse, and
the Bitcoin price could fall quite deeply. So my advice is to take profit at the current price, if you want to hold Bitcoin, use
a maximum of 50% of the capital we have.

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Bitcoin now is already above $27K, it's really amazing and I think it will reach $30k before new year. After that I will expect some correction in bitcoin price and if you have some capital then prepare it to buy more and hold.

Nothing is certain as currently it is rising and having some good support as well. So yes at around 23k it was moving up and down for few days, but just before the Christmas it crossed 25k and today even crossed 28k. Again, this is possible that it might reach to a price and then corrects after that to some extent.

I actually dont like the word "correction" because in relation to bitcoin it means
really a correction down, why cant Bitcoin correct upwards? is not the current
value of bitcoin correct?

Correction is not a correction its just a movement.

I also think that the fact that this year has started with the pandemic has made investors to look at other assets except the usual ones and they have landed at bitcoin which is good.Bitcoin is great as a store of value and maybe even the big investors are realizing it and helping this bull run.I hope this run continues to happen and we land at 100.000 dollars a bitcoin which would be an amazing achievement for the cryptocurrency arena.

Some use this terms as they see volatilities affects the whole market, they use the term when bitcoin suffer downfall after a massive rise.

Following you from your point, it's possible for bitcoin to continue moving upwards but expect that the chance of having some fall is part of

the process, you need to understand well in order to avoid making a huge mistake and lose your investment.

From current point of view there is no chance for bitcoin to dump it price. Already bitcoin cross 28k figure and there is smart chance that it will hit 36k in next some days.

Its quite risky to take a bull ride of Btc at the moment because we have not seen a proper Bitcoin retracement so far. But we can not expect correction like earlier BTC did when it touches its all-time high. We should wait now rather than any haste.

You have the freedom to choose any word you want but the concept what the OP is talking about is global. He was expecting a major correction before the big rally and now the price of BTCitcoin has breached many resistance with ease and now hovering around $27.6k and still looking strong to further breach the next resistance with ease. Like many i did not expect this kind of rally before New Year and from my experience in the BTCitcoin market it always performs well above our perception and logic :D.

Usually any market movement above 10% is termed as a correction and if you want to view that as a movement it is quite the same. Unless you sell at a loss you can always call them market movement and waiting for profit movement:D.

In my opinion, the pump this time is already too high for a correction. Reaching the ATH of bitcoin and surpassing it up to 28k$ is a big leap for bitcoin.

I think after this big dump the market price would fall around 10k$-20k$ and that's when the correction will happened, we could expect a big dump because of the high market price, a lot of investors are surely gonna sell their investment at this point because of the high profit and also because of the big leap from the ATH in the market.

I already sell my investment because of the high market price and expect the market price to dump, and then reinvest again if there is another opportunity.

Maybe I'm naïve but I'm not expecting any major correction any time soon. It seems like there's new investment companies getting involved every day. IMO these corporations understand the benefits for long term store of value associated with holding a deflationary asset instead of currencies that will be constantly devalued as more and more money is added to the system.

It seems like most people are scared that they've missed the boat with Bitcoin and fear a huge correction similar to that of 2017 but large investment companies are expecting it to continue to raise in the long term even if there are corrections along the way.

After reaching at this price level, I think this is the time we need to expect corrections because it already broke out from consolidation. Normally, market should retraced after hitting higher high after days of price consolidation which is from 24k price area... Well if these current price level will still push to higher highs which eventually further to ATH, most probably, correction is expected to be much deeper.

Higher highs for this year has crosses $27,500 and yet there is no correction, seen the prices goes down to $26,700 then goes up again to $27,300. So we don't know when the corrections are going to happen because the price is not going down in the first place.

It just fluctuates, and then buyers scooping as much bitcoin as they can when the price dips sub $27k. So this is not a normal price consolidation, we are still seeing buyers and could possibly touching $28k.

Price correction had already happened though it is not that big correction.  If you look at the market, there is some small dip after a certain uptrend.  Just like when BTC reaches $25k,  there is some minor correction that made it goes back to $22k-$23k range before bridging 25k and rally to $27k.  After the $27k was reached, it was corrected down to 26k+ for some hours then goes back to $27k today.

It seems so, and the uptrend against Bitcoin made the correction less pronounced although there were a few minor corrections that caused bitcoin price to drop a little and eventually bounce back.
and now the bitccoin price has returned above 27k which is likely to be 28k or 30k in the near future and even though there is a correction in my opinion it is impossible to pass 20k and we will see what bitcoin moves next.

I think the price correction isn't as dramatic as we've seen before. It seems to me that following the new ATH, BTC  is somewhat taking a more gentler correction, perhaps this is temporary until the end of the year, perhaps not. Either way if it continues on this trend a correction is inevitable, the question is how low will this more rigorous correction be?