Bitcoin Forum

As we all enjoy the current btc uptrend, it is becoming a glorious moment watching btc moving up and up. it looks like a trade we all hope for. on daily base, BTC price keeps moving up without signs of dropping. personally, i think the funds are coming from XRP dumpers. also i am skeptical because markets always correct itself no matter what.
i think what happened in 2018 will still repeat it self. BTC might fall back to 20,000 but we never know when and how but for now, lets enjoy the sweet ride to 40,000

It will always possible. The pullback or correction may happen very soon, but still we don't know at what price level.
There are some models on Bitcoin that some people using to identify what will happen or next action of Bitcoin.
Just like Bitcoin S2F model.
If you look on those numbers, it seems impossible for me, but if it will happen, it's gonna be huge for Bitcoin!
https://pbs.twimg.com/media/EqLCIEvXcAEzZ4F?format=jpg&name=large

It's not impossible not to happen by the way. A retracement is always healthy actually but who knows until we can see bitcoin fly. Many people are probably overwhelm with the bitcoin massive progress and some are probably fomoing with the hype but sell pressure will always be observed along the way. We need some healthy corrections to see a stable movement and not just pure bullish that leads to continuous dumping.

No matter how long crypto uptrend goes bitcoin will soon start going down and down, this is what everyone should be prepared for because it will happen at one point in time, if you get caught in the bear market it may take you longer to recover just like those in 2017 did, bear market will soon take over

Everything is possible but I find the current market conditions being totally different than 2018.

I'm still cautious as 2018 made me miserable, but at the same time, I'm much more optimistic than 2018.

That’s gonna happen of course, we’ll see another big correction with Bitcoin but its hard to know what will be the bottom for this correction and when it will happen since the market continues to go up. If you are buying on this level, you have to monitor the market or else you’ll get trap. Its just a matter of time to see the corrections, be ready for that and don’t be greedy to wait for big prices, always know when to take profit.

Difference with 2017-2018 is that we are not yet in parabolic phase yet so it's not yet comparable to 2018 imho. 2018 happening again would need another parabolic curve first. Retrace will happen but it most likely will happen way above 40k. BTC might as well hit $320k before next bear cycle happens. And if the btc dominance plays similarly we should see insane altseason as well.

It is dropping as of this moment and that can be said as a medium drop after we surpass the other ATHs yesterday. $28k as the peak and while it's dropping at this time, it just entered back $25,900. It is no big deal if bitcoin goes back to $20,000. We're just hoping for that price weeks before Christmas  and it came into reality.

It's that good if bitcoin sticks to that price as the support. Remember that we've got one of the lowest for this year and bitcoin just jumped off to $20k++ prices. That's already an overwhelming skyrocket for bitcoin.

We have to be more careful this time as we continue to create a new all time high because after this, we’ll see the correction again. I’m not enjoying the up trend that much since I’m not holding and I don’t have much bitcoin, maybe I’ll wait for the correction again before I start to buy Bitcoin, hope to do that next year.

You can be pretty much 100% sure that Bitcoin will crash hard at some point, but no one knows when. This means that it would be stupid to do something like taking loans to invest in Bitcoin, because in worst case you'll have only a fraction of your money for repaying the debt.

Also, what this means for altcoins, is that they are in a much worse spot than Bitcoin - Bitcoin already greatly surpassed its ATH, while many alts are not even close to touching theirs - if Bitcoin crashes, there's no way alts will ever break their ATH.

Possible that XRP investors are shifting to bitcoin that's why the price keeps going up and reaching almost $28k yesterday.


Definitely, this market is a boom and bust, so there will come a time that a massive drop in price will have to happen. We can't just go on marching and setting new all time high, sooner or later the market will have to correct itself. But with the way institutions and big companies are investing on bitcoin, maybe we can see at least $30k to see a correction next year.

Isn't that like a pattern when the Bitcoin price has reached a certain bullish point, and finally there will be a market correction? Either it's just market correction or it's time for the price to go down so that the price dumps onto the bear market again. This happened in the past years too. Therefore, of course, with this past experience, we should have become more vigilant, careful, and prepared for various possible dump prices going forward.

Isnt it too soon to predict bitcoin crash? When i see the graph of Bitcoin i see there's possible schema that Bitcoin will have sideways season soon, so ALT will have their time to rise up

Sooner or later the market will be correction, this has to happen for the trend to continue, I believe bitcoin correction could hit below $20000, but I'm not sure if this increase will be the last as the bull market is just starting out, so don't worry if the correction is deep.

In a highly volatile market, the possibility of correction, dip, and a crash is always there, always follow the market always take profit when you see the opportunity and cut your losses when something is not going right, don't be 100% sure so far market is good but we don't know for how long we all wish the ride will be long this time around.

It's just because there are some institutional investors have joined in bitcoin market didn mean the bitcoin market will be going even higher without any correction or pullback.
The market can get the reversal trend anytime. You must see that the same thing happened a few years ago and so many people got dumped by the whales in a few hours. It looks like this time bitcoin is still so stable but we don't know what will be happening for sure at the end of january

everyone nobody knows what will happen in the future. but I'm always careful, in making decisions. I don't think it will end like 2018. There might be a correction, but it's not that deep. and sooner or later the price will get better again. This is what I believe in the future.

Of course there will always be a correction in the market. And perhaps those xrp dumpers are really behind these bullish trend of bitcoin. However, as an investor we shouldn't be greedy enough as 2018 scenario may possibly happen again so having a back up plan is always necessary.

Remember that it's not always the boom moment for btc and it is better if we are ready enough to take all the possible huge crash in the future.

It is true that Bitcoin price will be correction at any time, but for now Bitcoin price is expected to continue pump slowly because from the data and movement patterns of Bitcoin, after it has broken the previous all-time high, it will continue to pump aggressively as happened in previous years.

Some people will be carried away by the present bullrun, they will think it's going to be like this for a very long time, the truth is you won't see it coming when bears will take over and bitcoin will start going down but right now isn't the time because altcoins season haven't start yet, whales will still pump altcoins too

Bitcoin is the only coin that shows significant growth so its possible that xrp investors are switching to bitcoin. Actually not only xrp but other altcoins investors as well, they want to ride on the hype of bitcoin and hoping to get huge profit too.

History might repeat itself indeed but there's no concrete basis that it will happen early next year. Because this hype can last long depending on how firm those hodlers to refrain from selling. Hence for now lets enjoy the price and be wise to not be so greedy.

No matter what correction is needed in this market for bullish trend. But i hope , btc will take correction when it surpass 50k milestone. I know it's too much. But imagine if btc hit 50k and take correction, it'll still be on the upper level of 20k zone. BTW, next alt season can be happened any time when btc is going for correction.

Price correction will surly happen, in fact it is inevitable and kind of healthy for the market. Yes people are very happy to witness the massive growth Bitcoin is showing and this is also the time to be very careful, not careful of the price increase but careful of the different predictions which will and/or already dropping in. First, it has been shown again that holding Bitcoin for long term is a very good idea, but if you are not willing to hold for long should in case the price dumps, then know when to take profit but if the dump do not matters to you because you are a long term holder, then enjoy the ride; this is to the best of my knowledge how I understand it because the dump of Bitcoin in 2018, many sold at loss and its most likely to happen again but no one knows when it will happen or the price it will drop to probably higher or lesser than $20k.
Also, about Bitcoin funds coming from XRP dumpers could be true when looking at it that people who are already in loss due to XRP price dump will likely leverage Bitcoin to regain their losses; this is just an assumption as the funds could still come from institutional investors.

Bullrun doesn't mean loss free, everyone needs to be careful and be completely ready for what's coming, take your profits when available and also be contented with what you make out of crypto, bitcoin won't go up forever, remember that all crypto are built with volatility in mind

Yes, it is reported that a lot of new money has entered crypto. most altcoins are now experiencing an increase, but not as significant as bitcoin, so it's not surprising that many people will switch to bitcoin. but most importantly, is it not too late? considering the price is too high. And no need to worry about the past history, now is the time to analyze how we can get a good profit from the bulls this time

Quite right, while bitcoin is growing in price and at any moment the growth of bitcoin may end and correction of bitcoin price may begin and bitcoin may fall to 20k$ and up to 10k$ and even lower, so we must always remember that cryptocurrencies cannot constantly grow.

Seen this before, what we need to do now is don't be greedy, be smart to take profit as there's no way going up is the only trend. Correction is coming and bitcoin will dump, those news that has hype up the market now will be gone and will forget that as FUD will be more once correction happens.

I have checked the trade volumes for XRP, as given in the Coinmarketcap website. The vast majority of the trade seems to be between XRP and USDT, followed by XRP vs fiat currencies (especially USD and KRW). XRP vs BTC trade represents only a small fraction of the total volumes. And this means that those who are dumping XRP are mostly converting their tokens to either USDT or USD.

History can repeat itself. Therefore, I always have a stop loss so that I dont be afraid of losing a huge amount of money in such a short time. Even if my bitcoin is dumped, I will still avoid losing more than 40% of my portfolio. It is an affordable risk cause my target is up to 400%. This will take at least a month for me to close this order.

Moreover, I have a fate in bitcoin. There are so many things supporting bitcoin and the cryptocurrency. 2021 have to be a right year not for just the cryptocurrency but also any kind of innovative technologies that can change the concept of our modern world

This current price it's not the right time for me to join the ride because it is really risky now, bitcoin is already on top so anytime could fall and maybe this will be the start of the bear market. Maybe it would be like the same as 2018. So don't be greedy now if you don't like to lose money but if you have a feeling that it might continue to increase up to $40,000 then good luck to you.

Whatever happens, the main thing is not to give in to the hype. Despite even the record value of bitcoin. Making investments in cryptocurrency is only necessary by understanding all the risks. How many have already suffered from their own greed? It is better to calculate everything and stay in the black.

I'm not sure if it's going to reach 40000$ or not. Till this moment i'm okay with 30k as BTC did surpass 29k price mark already in the last hour or so. I'm taking in consideration that a correction might take place but not sure if it will be soon or not. I think that it's the Altcoins turn now to grow, the rally is done for btc i think.

Bitcoin, as we can see, has risen at a record price of over $ 29,000. Probably, many are now wondering whether it is risky to buy bitcoin at such a high price now. In my opinion, the risk is really no longer worth it. At any time, bitcoin can go for a correction. Then it will be possible to buy it. Although in general we expect it to grow further this year, the cryptocurrency market is very unpredictable.

I think watching bitcoin pump if you don't have anymore to sell is just fine, just wait until the price correct as it will certainly happen anytime. It's skyrocketing now due to lack of resistance and it has actually liquidated millions of dollars from people who short it.

https://cointelegraph.com/news/bitcoin-price-quickly-climbs-to-31k-liquidating-100m-of-shorts

But these people will continue to bet on the "Short" as they know correction is coming and this FOMO won't last.

I'm expecting a correction this year, most likely!

Well, that is possible, and every one of us perhaps already aware regarding that matter since we are all experienced just like what happened in the previous year 2018. But I agree with the OP, if ever there is a correction or a short pullback, it will not go far beyond $20K of bitcoin price or same last 2018 that bitcoin reach to almost bottom price which is $3k. Perhaps this could be the main reason bitcoin more become skyrocketing, switching into bitcoin while there are too many altcoins on top of CMC was already delisted on some exchange, dumpers will always find ways where they move for their own safety.

It is very possible that Bitcoin will experience a correction as it did in 2018, therefore it is very important to use a stop-loss just in case
the Bitcoin price dumps suddenly. I agree with the opening post that Bitcoin will be corrected this year to a price of $ 20,000. But before
a correction like Bitcoin it will reach a price of $ 50,000 first, seeing the current Bitcoin price rising very fast.

As an investor or trader, we have to observant of changing trends. We have to afraid if we see the price coin up drastically and haven't met a correction because if the correction comes it will fall more drastically rather than the price up. Yeah, there will be a chance for the 2018 situation can be happened again now, maybe there will be many investor who have sold their bitcoin and make short entry on the trading future.

So, I myself have been sold my investment in bitcoin in a half when its price touched $30.000 and I moved to buy some altcoin like ETH and litecoin which I think its price can increase like bitcoin now. And I'll sell my investment in bitcoin when its price touch $40.000 because if I look with fibbonaci expansion using daily time frame another resistance will be in $40.000, let see.

Yes, but for the meantime as I checked the btc market all.is doing well and has a good market price increase. Maybe, because many are still wanting to see bitcoin to go up high like I think up to 35K$. If that will going to happen then we can expect the next bull run go up to 60K$ which is likely going to happen based on how btc market move.

I have to disagree. What happened in 2018 may not repeat this time. Because those who dumped their coins in 2018 are regretting about their decision right now. Now most of the cryptocurrency users are aware of this pump-and-dump cycle that repeats every four years. Therefore very few of them are going to dump their coins this time, even if there is a correction.

And BTW, it is too early to talk about correction and the prices going back to $20K. Because we are not yet done with the rally.

Not everyone will hold for long term, some are already contented and understand that a correction is necessary to make bitcoin stronger. This is not the first time we saw a pump, though it's higher now but the degree of FOMO in 2017 and 2018 early months are quite bigger compared to this year so far.

If we pattern it in the past, then we can expect a big correction to start this month.

there's a possibility that it may happened again but you are right let's enjoy this ride and don't forget to always take profit no matter how big or small it is. well most of the people expect to reach it 40,000 or even 50,000.

dont mean to be skeptical but it's doing well maybe because it's calm before the storm. Doesn't meant to demotivate people though it's just there's nothing wrong to be alerted of something that still has a chance to happen however maybe just maybe this time its gonna be different no more panic selling no more dumping just because the trend reversed.
But as long as mass adoption still going on I doubt its gonna be the same as 2018

Even the bitcoin price hasn't hit 35k yet but today we are getting a decline, whether it's just a normal correction or a dumping. I think it will be a panic that will trigger the situation even worse, I personally still haven't sold anything so far and hopefully this is just a normal correction that occurs before it spikes higher to reach 40k or higher.

Being a trader or investor that always trades alts and bitcoins, we have to be very careful when choosing the right time to buy and the right time to sell. We have to always weigh in our options and be very vigilant in taking risks. We don't know if the events leading to the 2018 correction would repeat itself but we have to check the signs. Right now all we see are people trying to catch up with the Bitcoin craze. And we all to well know, that one comes up, might go down.