Is it correction time? Market down by 8%

[livingfree]

Same thing happened in summer 2019 when BTC went to $13 000 everyone was screaming Bullrun. Of course it was just a little tease.

People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.

It's just a little foreplay before the real game starts.

I'm hoping that it's the same scenario that we have right now and this is more encouraging because of the near approach of halving. No need to look for the cause this time because a downtrend makes everybody to wait until the drops stop.

And when it happens, everyone will start to get their buying positions ready until it hikes again. I wish that $9500 is the support this time and it's still a decent price imo.

[imstillthebest]

The current downward trend of the market value of Bitcoin is some how good

for you and to some yes but for me , i dont consider every decrease good .

traders who will use this opportunity to buy at a lower price pending when the market increase and it is a bad move for those who may want to sell

obviously bad if you sell when you bought at higher price before but the dip is always a good time for buyers to make a move  .

dump of the price always means a correction especially if it happen after a good pump  . and you said only 8 percent ? not bad at all for me but not good to some that who wanted to dump the price more harder just because they wanted to accumulated more coins  .

[justdimin]

The "decrease is good" notion came from the reality that if a price of anything falls but doesn't fall too much after a huge increase, that means increase may not be over.

By logic let me explain it with an example; if bitcoin price went from $7k to $10k and dropped to $8k, that would be the "bad decrease" how if it moved from $7k to $10k and moved only to $9.4k or so, that is a "good decrease", not that any decrease is a good decrease in any way but this is said more for the reason that maybe the increase is not just yet over and even when the price is trying to go down it is not allowed and kept at a high price, that is exactly the reason why people are still bullish about bitcoin even after the fall of the price, "correction" always happens and welcomed as long as it doesn't turn into a bear run.

[Jating]

The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.

Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.

[traderethereum]

The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.

Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult. But that can be done if many support and big demand from traders so the price can slowly increase to that price. We need to wait for more because we are at the weekend, and this time, we don't know if tomorrow will be the time for bitcoin to increase back or not. Congratulations to people who can use the time to buy bitcoin at a low price so they can expect to make a profit later.

[Pamadar]

The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.

Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.

It's moving up again but still far from $10500 level but just like what happened before after some downfall bounce back will take place,  most of the time those who are dealing with scalp trades are the beneficiaries of this kind of market situations, if you've got a strong knowledge you'll be able to position yourself and take profits from doing day trade system.

Moving forward to see another double digits since halving is getting nearer if there's lots of new investment to flow around this market will be bouncing
much stronger.

[pooya87]

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

[Oasisman]

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.

[GreatArkansas]

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
(...)

For sure, they are much referring downtrend or uptrend based on their own timeframe  , like in hourly chart timeframe, they can easily say if it's downtrend because of lot of red candles.
For what I understand of downtrend or uptrend is on viewing it on highly timeframes, like daily timeframes, weekly time frames or monthly timeframes. The higher timeframes you used, the higher proof you can say it's uptrend or downtrend.

[Jating]

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.

It the bullish trend is not changing then that is a parabolic rise, I believed. But we all know that at least bitcoin is having a 'healthy pullback' at some time before continuing the positive trend.

As you can see in the last days, it seems that the price is inching at $10k again, so we see retracement to $9500-$9600. So we don't need to get upset, what we need is more patience.

[RealMalatesta]

Do not expect too much from bitcoin halving, everyone has circled that as a big deal in their calendar but the reality is halving is not a huge thing as much as people imagine it is. Let me break it down to numbers for you.

Right now, even the old machines that are now renewed in march with antminer s17, the s9's are still making a profit with around 7-8 thousand dollars cost of mining, that means at 10k, they are making a profit, considering nothing will change they will have half of what they used to make and that will drop it 5k profit or mainly 14-16k cost to mine, with some more machines rolling out it is easier to say it will be around 15-17k easily, however there are newer machines who can mine 1 bitcoin at 4k which means even the double cost would be 8k and that is STILL profitable at 10k. So to say that miners require at least double of this price is simply and mathematically wrong, there are miners who can profit to continue like this with no change in price even after halving.

[AliMan]

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.

These people didn't learn something with bitcoin, they're more focused on how it increase an impressive value. Bitcoin's character remains very interesting, but it's not good for the newbies because eventually they tend to be more stressed compared to old holders. They should start to value a very important aspect that could help them establish a good stand in order to manage their asset while market still in recovery as well.

[milewilda]

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.

These people didn't learn something with bitcoin, they're more focused on how it increase an impressive value. Bitcoin's character remains very interesting, but it's not good for the newbies because eventually they tend to be more stressed compared to old holders. They should start to value a very important aspect that could help them establish a good stand in order to manage their asset while market still in recovery as well.

Wrong thing for most people on where they do treat those pullbacks as dump situations. Actually 8% deduction on a single day isnt something new for this market but if you are
a complete newbie or just recently know about crypto market then you would really be get shocked but same as you said for those who have been here into this market will treat these movements
as a typical day price volatility.People do only expect that price do shoots up continuously without any corrections which is really a wrong perception because market doesnt work or move that way.

[Finestream]

As you can see in the last days, it seems that the price is inching at $10k again, so we see retracement to $9500-$9600. So we don't need to get upset, what we need is more patience.

Exactly, at this time we need to relax as bitcoin is bullish in the sense that it's just going an uptrend direction but because bitcoin do bounce back after a dump, with the price now, we only need 100 usd for btc to be back in $10,000 again but I am confident it will rise close to $11,000 once it pump.

market is down/up, what matters is we are still here believing bitcoin will still rise and this year will be bullish.

[coinfinger]

I think there is not really all that much left in the tank for the sellers anymore, we will probably see no more corrections or maybe 1-2 might have been left but that's it, after that it will definitely be anyone's game. When the people who have a sell order in place or even sell order in their minds that they will sell after reaching a certain point, we get a combined and collective sell rush all of a sudden just as we go up and that causes the price go down, that is literally what happened in the past 2 months whenever we broke above 10k.

I think we are going to see something like 11k+ very soon. All we need is another push and some sort of breakable resistance in order to above without anyone selling to take their profits but continue for a little bit more than they usually do.

[traderethereum]

I think we are going to see something like 11k+ very soon. All we need is another push and some sort of breakable resistance in order to above without anyone selling to take their profits but continue for a little bit more than they usually do.

If bitcoin price can bounce to the higher price, we will see $11k. Sooner or later, we will see that price no matter if bitcoin price now still fluctuated, but when the right time arrives, the bitcoin price will start to increase again. I think we can still make a profit from these situations, as long as we can get the lower price and sell at a higher price because I see that the time to buy and sell at that price still available.

[carlisle1]

you have predicted it right mate because now we are suffering from fall again maybe this is the effect of Correction?downing from Above $10k and now almost falling to $9,500 ,somethings changing this way and i think yeah this is correction.

but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.

Same thing happened in summer 2019 when BTC went to $13 000 everyone was screaming Bullrun. Of course it was just a little tease.

volatility isn't it mate?yeah things only coming back from the past though different value yet same movement,going up today but falling again tomorrow whats new?

People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.

and that is what i think we all need to do,specially us who's being here for long time and already seen same situation coming back again and again.

It's just a little foreplay before the real game starts.

and all we need to have is trust and Guts with risk as well.

[ultrloa]

I think we are going to see something like 11k+ very soon. All we need is another push and some sort of breakable resistance in order to above without anyone selling to take their profits but continue for a little bit more than they usually do.

If bitcoin price can bounce to the higher price, we will see $11k. Sooner or later, we will see that price no matter if bitcoin price now still fluctuated, but when the right time arrives, the bitcoin price will start to increase again. I think we can still make a profit from these situations, as long as we can get the lower price and sell at a higher price because I see that the time to buy and sell at that price still available.

It's possible for us to earn on this current situations especially if we can enter on great positions and hit the perfect movement of bitcoins, But we shouldn't get hyped since possibly we can experience a huge pump and dump since the situation still unpredictable so best sell whenever we see a opportunity to move up and secure our profits. But if you can afford to risk your money for now then buy and hold to aim long term profits.

[TheGreatPython]

That is kinda the point of corrections, I mean when you go down that much you either go back up to a higher price than you initially were, or the people who caused the correction are right to sell and you go down. We either will go towards $11k+ price because now that people who sold around $10k levels are gone and sold their money so we can go beyond $11k+ a lot more easier than we tried last time, OR we gonna just keep going down because people are tired and out of money to keep try to get bitcoin to a higher price and reach around $8k or so levels.

Now, I do not see bitcoin go anything lower than $8k, that would be also idiotic from the people who end up selling under that price because we all know that is unsustainable price for the miners and eventually they will stop selling which will cause it to go up anyway so why would you sell it to begin with.

[carlfebz2]

I think we are going to see something like 11k+ very soon. All we need is another push and some sort of breakable resistance in order to above without anyone selling to take their profits but continue for a little bit more than they usually do.

If bitcoin price can bounce to the higher price, we will see $11k. Sooner or later, we will see that price no matter if bitcoin price now still fluctuated, but when the right time arrives, the bitcoin price will start to increase again. I think we can still make a profit from these situations, as long as we can get the lower price and sell at a higher price because I see that the time to buy and sell at that price still available.

It's possible for us to earn on this current situations especially if we can enter on great positions and hit the perfect movement of bitcoins, But we shouldn't get hyped since possibly we can experience a huge pump and dump since the situation still unpredictable so best sell whenever we see a opportunity to move up and secure our profits. But if you can afford to risk your money for now then buy and hold to aim long term profits.

I do prefer up this way on where you should really sell up whenever you do saw an opportunity or gaining situation rather than looking for long term aspsects.
Why would wait if you can eventually get it on short possible of time?

Market had always been unpredictable thats why making conclusions  or analysis wont really be precise anytime.No matter how expert or pro you are in markets
but dealing with crypto are would be entirely different. Correction just because of 8% down? Same as others said this is jut like
a normal day here on crypto.