Is it correction time? Market down by 8%

[Qcrypto]

So far the pump has been steady and good. We've seen Bitcoin over $10K and Ethereum went up from $145 to $288, highest this year so far. Currently at $262 and falling.





The market cap just took a really nice plunge averaging 8% loss. Currently at $289B and red across the board.






Is price correction on the way or just short sellers playing their game?


PS. Sorry for extra large images

[ansi]

10k is the psychological price number of BTC, i would put a stop loss under $9200 just in case.

The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.

[qazgroup]

I think this dip will be good as straight up movement with no stabilization and dips is not solid i would like to see slow but steady move upwards and we should not be in hurry as bull cycle will stay here for many many months.

[Thomas-s]

I think that everyone expected the correction and it does not surprise me, but I also think that it will be very short and after this, the price will move to 12 thousand dollars. after that, there will be another correction and it will be more serious. maybe we will again see a price of 7 thousand dollars before halving and the price will begin to rise

[cengat]

10k is the psychological price number of BTC, i would put a stop loss under $9200 just in case.

The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.

I wouldn't claim that 8% is nothing, but it obviously is not that much of a big deal.
It could possibly stop that sudden growth, but it won't kill any coin

[Ezravdb]

I think the price correction will turn around as soon as possible because this month that we monitor the price movements of Bitcoin and Altcoin are pretty good but just now there was a bitcoin price correction, I think a lot of big investors play the price, we must be calm do not rush to take the attitude of the sell when the price correction occurs.

[doctor877]

This can lead to a big correction. Currently not yet a big one but I will wait for daily closure to see what's next direction. If we see a sudden bounce , we should see a new high price. Protect your investment.

[CryptopreneurBrainboss]

It's already happening, the market has been on a upward trend for quite sometime and it's only healthy it's experiencing this correction at this time as it offers new opportunities for those who missed buying to jump in on the fun. Ethereum has been the most surprising altcoins for me this year and from what I'm seeing it still has more to offer therefore there isn't any need for panic at this small correction it's experiencing.

Thankfully it isn't just ethereum price declining but that of the cryptocurrency market in general therefore it can be concluded, this is just a reaction of traders and short term Investors taking profit from the market. Small corrections like this shouldn't call for any alarm most especially as the year is just beginning, we're not even done with first quarter. There's still time for the market to recover and achieve new milestone.

[alani123]

Yup, here we go... Birltcpinnwent down and everything is also going down with it. Altcoinsnlf course have very high correlation with BTC so now they are even experiencing greater losses in many occasions.

[samcrypto]

A short term correction probably and for sure we will bounce back again. Traders and whales are active again to take profit, small investor like us should not miss this price level again, we can buy more and wait for the pump again. Don’t panic, the correction is normal and its bitcoin so expect more volatility while we are aiming for a higher level.

[cytpoway121]

It appears like a form of correction, but i won't entirely take it as a correction, the movement cannot be specified and we can only guess.
I think this is just a temporary break, before bitcoin goes back to over 10000$.

lets see what happens, keep checking the charts

[iamaruf]

I don’t think so.Because bitcoin price up and down ~500 is not a big deal.Sometimes people's got panic to sell that time price goes down then again pump.If it goes down.I think for now bitcoin price should be in 9700-10000$.10k$ is stable for bitcoin now.If it get some support wall then it can break 11k$.

[pixie85]

Not yet. We've been there before. Have you already forgotten that just 4 days ago the price at the same level?

Small selloffs are a normal thing in every uptrend and they don't change that we are still in a bull market. I expect this bull market to continue until we get really close to Bitcoin halving.

[btcdie]

The correction of the people currently considers that the market conditions are on a bull run and it is impossible for us to switch to the bear market, considering that it is still at the beginning of the year, soaring even higher is very possible. precisely in 2020 crypto world is filled with positive news. I'm sure the incident was due to traders or short-term investments, so don't panic if it still hasn't touched a vulnerable point for more falls. okay, think positive, we will see a higher spike in a few moments. maybe at this time the opportunity to buy so as not to miss the train.

[jerrison]

So far the pump has been steady and good. We've seen Bitcoin over $10K and Ethereum went up from $145 to $288, highest this year so far. Currently at $262 and falling.





The market cap just took a really nice plunge averaging 8% loss. Currently at $289B and red across the board.






Is price correction on the way or just short sellers playing their game?


PS. Sorry for extra large images

It is responding to price action trading strategy i believe, If the buyers have boought to the ten thousand dollar mark and a little over and then the market sellers decide to place seel orders in their numbers, you will see the price going down, although the buyers still exists but in a much lesser quantity thereby giving the sellers more dominace in the market space and that is a possible cause of the decline in price of bitcoin.

[livingfree]

The market cap just took a really nice plunge averaging 8% loss. Currently at $289B and red across the board.

It has recovered slightly and quickly, it's up now by $292B which is very nice and encouraging to think that despite these slips, the market recovers on its own as we imagine.

Is price correction on the way or just short sellers playing their game?

Short squeeze I guess.

PS. Sorry for extra large images

Use this code.

Code:

[img height=400]https://i.imgur.com/XhNd8Vn.png[/img]

You can adjust the "400" at your desire that fits the viewers sight like this.
An example:

[Ridwan Fauzi]

I can't judge this situation the correction will be happened when the price of coin fall more than 10% but I can't see it in the price of bitcoin or some altcoins (which are in the top).

Also, if we see the price fall more than 10% and its price can't increase again then I will assume that the bear market will come. But I hope this situation will never be happened if we see the the sentiment market right now.

[SlimShadyMmp]

The best thing you could do at this time is not to panic as selling can cause you more harm right now The market is acting just normally the way it always does Whenever there is high which you dont know how high is to expect a low too So its just market panic will just make things worse watch attentively

[Rengga Jati]

Is price correction on the way or just short sellers playing their game?

From the chart, it makes no sense if only because of the short-sellers that are playing the game. This is more like a market correction. Moreover, all coins experience it, of course, because they follow Bitcoin as their main reference.
We see how some coins even go down by more than 20% like ETH and EOS. This is really a very rapid decline.
If indeed this is a market correction, approximately, to what number will this happen?

[crzy]

The best thing you could do at this time is not to panic as selling can cause you more harm right now The market is acting just normally the way it always does Whenever there is high which you dont know how high is to expect a low too So its just market panic will just make things worse watch attentively

Panicking is not good especially if you just see the price only dump for $300 and there’s no good reason to sell because of the present dump. Ok this is just temporary and later on we will go up $10k again, we don’t need to create panic nor be on panic, bitcoin moves better this year.