Define correction

[Evanston45]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

[nambunamba]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

when bitcoin drops and all altoins does the same. condition such this is called corrextion . but there will  be a lot of chance for other coin increasing in few weeks

[cryptopussies]

Correction is define as the price pullback of anycoin that was gone bull run,it occurs after the bull is ended.

[Evanston45]

So would today be considered a correction? If so, I guess I don’t see the big deal since it’ll go up in a day or two...if it’s sustained, does that make it a correction?

[cetje]

The reason of the pullback today was due to CoinMarketCap excluding Korean exchanges. This led to a lot of panic selling

[spring07]

Correction is defined as a pull back, ad downward movement of the price of Bitcoin, thus affecting the prices of other altcoins. It could affect them positively or negatively.

[Marvell1]

A grand correction always comes unexpectedly)) But I guess that we won't see another correction until the end of February. There are a lot of fundamental basics which indicate it. They all mostly tied with USA.

[emoji00]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

An 80% drop can be a correction. For example, some coins that have made a x20 in a year, that is, 2000% may easily correct 80% and that would be called a correction. It is all relative.

[dinoloverpete]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

It's obviously quite subjective but I would say it's scenarios where growth has increased greater than the previous rate and corrects back to being on its original course/trend. I would say an 80$ price drop is a crash rather than a correction.

[BenjaminFranklingwould]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

Correction can be short term and long term. Short term correction could happen in quick period of time and even on "bull" trend. Long term correction usually happens when bear market is trong and most coins are falling in prices. For example when "everything" is rising strong corrections could be 20-50%. when bear market will come correction for some weak alts can be 95%+

[billyj111]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

I think that today there was a good correction, and in the coming days there will be growth, and in the general market, sometimes corrections are needed for further growth

[LaLegiste]

I hear that we’re due for a major correction, but what exactly does that mean? Was December a correction when market tanked for 2 days? Is it a prolonged tank (like 80% price drop that lasts for 6 months)? Please explain what a correction means so I recognize when it happens. Thanks!

I think that today there was a good correction, and in the coming days there will be growth, and in the general market, sometimes corrections are needed for further growth

as was mentioned above today's "correction" had place mostly because of CoinMarketCap excluding Korean exchanges which had ridicously high prices. It caused some panic sale for sure but combined with bullish trend i'd say most of alts stayed at their places today.

[BitcoinGuruOne]

I agree with some posters here , that it is subjective. The correction in any given time is level of price which is backed by investors which are not selling in that given moment. Also there should be some kind of correlation on Sell walls structure. That is mine definition.