No price correction for bitcoin? Did it already happen?

[MCobian]

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.

[Nhor1011]

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

.

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.

[newwest]

I think we must waiting 25% price decrees.

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.

[aoluain]

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.

[swogerino]

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

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.

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.

[ardentvolcanoes]

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.

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.

[Travel Standard]

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.

[gurunanakji777]

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.

[eaLiTy]

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?

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 .

Correction is not a correction its just a movement.

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.

[Asuspawer09]

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

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.

[Bergkampsballs]

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.

[Crislyn4116]

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.

[btc_angela]

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.

[serjent05]

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

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.

[bitzizzix]

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

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.

[DarkDays]

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

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?