Correction in the next days?

[target]

I wasn't dumped hard. We may have to wait a little longer within a week to see if it goes back to $6k, it would be very shocking to see if it's going to drag its price below it. If someone really will dump his stash I'd be holding for a long time then. Crazy shits happen when you know the price is pumped this way. It's just not normal to see it go extreme swings up to 18%.

[MCobian]

I'm not sure bitcoin will dump around 10% before halving occurs. Seen prices in the market are now increasingly rising, this is a sign of
the price of bitcoin will continue to rise until halving bitcoin ends. If until correction happen, it is likely around 3% -5%. For me, if it happens,
opportunity to buy more bitcoin. Because I'm sure at least bitcoin can reach $ 12k this year.

[cassavachips]

My analysis leads to a slight correction, but I am still hesitant for large or only a small amount. Clearly it will happen later.

[bitbunnny]

My analysis leads to a slight correction, but I am still hesitant for large or only a small amount. Clearly it will happen later.

Well, this is speculation, it might happen but it doesn't have to. Some correction already happened after quite a quick rise but how far this will go and if further corrections will happen that it's about to see in next days. However, I don't expect some hard dump that should worry us
But now it's the good moment for daily trader to profit.

[rexxarofmoknathal]

I am not expecting a correction.

A correction is a term that is used to describe a reversal after a significant market movement (usually over a short time frame).

If anything, the current bullish momentum is the correction following the events of Black Thursday, which saw BTC and most other cryptocurrencies get absolutely stomped in Mid-March.

I dont think we'll go far below $8,000 until some time after the halving (if only temporarily).

[EdenDice]

Though I don't know the future but what I believe is, in the next weeks, Bitcoin price will have correction or dump! So, take the profit now and don't be greedy! Halving date is not important, it's just a hype, we can see price increase about 1-2 years later! In twitter, I saw many people keep telling to take profit and be prepare for a dump! Today's growth was really unexpected!

[YOSHIE]

Hey people. Are you expecting a correction in the next days. A lot of talk about a price dump around 10% before the halving starts. How serious can this be?

How sure you count (halving) if it happens to Bitcoin, that's the truth.

No one can believe the decline in the price of bitcoin before halving, predictions and various corrections arise in the market some say $ 8,000, $ 7,000 and so on.
Clear for now the right time if you want to invest and buy some Bitcoin to invest in futures, clearly this is all returned to yourself, confidence.
People only give opinions of your own considerations and actions that determine profit and loss.

I wish you good luck when the time comes.

[sana54210]

We are around $8.9k that is not really that much drop honestly, the world is actually getting used to bitcoin right now because we became the biggest year to date profit machine in the whole world even with corona on the way. Almost everything lost money year to date, some of it break even barely, some of it actually went up but dropped after corona, we out here making 20%+ profits on YTD prices!

Correction will probably happen a bit more, but I do not see anything huge, from $9.4k prices to here we already did had a correction, that is all there is to corrections honestly, you do not need to have like 2k drop or something to call it a correction, just a 500-600 drop is more than enough to call it a correction and not expecting anything more from it.

[carlfebz2]

We are around $8.9k that is not really that much drop honestly, the world is actually getting used to bitcoin right now because we became the biggest year to date profit machine in the whole world even with corona on the way. Almost everything lost money year to date, some of it break even barely, some of it actually went up but dropped after corona, we out here making 20%+ profits on YTD prices!

Correction will probably happen a bit more, but I do not see anything huge, from $9.4k prices to here we already did had a correction, that is all there is to corrections honestly, you do not need to have like 2k drop or something to call it a correction, just a 500-600 drop is more than enough to call it a correction and not expecting anything more from it.

When we do talk about correction then this one would pertain with huge price drops but if we do talk about a few hundred dollars in terms of drops then
it would really be just called a typical movement here on crypto space.Of course these kind of movement are just normal and also that so called
correction does really have that possibility to happen.

Hoping that we shouldnt really dtop that hard for us to see some 5 digit price once again for this year but well, we wont know if it wont happen
or that kind of correction is just on the corner.

[thecodebear]

I am not expecting a correction.

A correction is a term that is used to describe a reversal after a significant market movement (usually over a short time frame).

If anything, the current bullish momentum is the correction following the events of Black Thursday, which saw BTC and most other cryptocurrencies get absolutely stomped in Mid-March.

I dont think we'll go far below $8,000 until some time after the halving (if only temporarily).

Agreed that the current upwards movement is a correction from the panic sell back in March.

But also I would certainly describe a drop from 9400 to 8400, which we already had in the day after the pump, as a correction, and I bet it goes lower still.

[Coin_trader]

I am not expecting a correction.

A correction is a term that is used to describe a reversal after a significant market movement (usually over a short time frame).

If anything, the current bullish momentum is the correction following the events of Black Thursday, which saw BTC and most other cryptocurrencies get absolutely stomped in Mid-March.

I dont think we'll go far below $8,000 until some time after the halving (if only temporarily).

Agreed that the current upwards movement is a correction from the panic sell back in March.

But also I would certainly describe a drop from 9400 to 8400, which we already had in the day after the pump, as a correction, and I bet it goes lower still.

That's not a correction but rather a hype due to the upcoming halving. This is common scenario that bitcoin pump to an incredible percentage just like what happened on previous halving. The big drop from 9400 to 8400 is what you called correction due to sudden price charge. The march panic sell already corrected when the price reach 6000 to 7000 range on that same month also.

This big price movement is just a hype that whales always do to manipulate price by using the halving event.

[harizen]

Hey people. Are you expecting a correction in the next days. A lot of talk about a price dump around 10% before the halving starts. How serious can this be?

Actually not in the next days but always. The recent price increase drove speculation that we might see another leap so others join the party. FOMO or not, should be taken seriously and don't be carried away although it's always a good entry point at below $10,000.

What should we expect in the next following days? Damn, that was really unpredictable. If you think halving can bring the price up without any hype, then just made an entry point today. Honestly, looking at indicators will just give you more confusion although always take note of what they are directing and considered that as your reference.

[buwaytress]

I wasn't dumped hard. We may have to wait a little longer within a week to see if it goes back to $6k, it would be very shocking to see if it's going to drag its price below it. If someone really will dump his stash I'd be holding for a long time then. Crazy shits happen when you know the price is pumped this way. It's just not normal to see it go extreme swings up to 18%.

Exactly, I mean yes, 9400 to 8700 seemed like a huge 700-dollar drop but gotta remember we've been pushing and pushing for so long, the retracement was bound to happen, if it were a dump, we'd have pulled back to low 8000s for sure.

Good signs of strength on Friday, I'm guessing we'll see a return of the weekend bulls.

[thecodebear]

I am not expecting a correction.

A correction is a term that is used to describe a reversal after a significant market movement (usually over a short time frame).

If anything, the current bullish momentum is the correction following the events of Black Thursday, which saw BTC and most other cryptocurrencies get absolutely stomped in Mid-March.

I dont think we'll go far below $8,000 until some time after the halving (if only temporarily).

Agreed that the current upwards movement is a correction from the panic sell back in March.

But also I would certainly describe a drop from 9400 to 8400, which we already had in the day after the pump, as a correction, and I bet it goes lower still.

That's not a correction but rather a hype due to the upcoming halving. This is common scenario that bitcoin pump to an incredible percentage just like what happened on previous halving. The big drop from 9400 to 8400 is what you called correction due to sudden price charge. The march panic sell already corrected when the price reach 6000 to 7000 range on that same month also.

This big price movement is just a hype that whales always do to manipulate price by using the halving event.

No. Halving is well known about and is fully priced in. Any pump is not due to halving. Pump is either from whales initiating a pump and retail market following through or from the price simply continuing to correct back from the pandemic panic dump, or really more likely simply from the natural occurrence of the market pushing on a big resistance zone until it broke and then as what often happens if shoots up afterwards, then corrects downwards - that is an exact description of what happened the past two days. The market is not suddenly hearing about the halving two weeks before it occurs, it is an extremely well known event.

[exstasie]

No. Halving is well known about and is fully priced in. Any pump is not due to halving. Pump is either from whales initiating a pump and retail market following through or from the price simply continuing to correct back from the pandemic panic dump, or really more likely simply from the natural occurrence of the market pushing on a big resistance zone until it broke and then as what often happens if shoots up afterwards, then corrects downwards - that is an exact description of what happened the past two days. The market is not suddenly hearing about the halving two weeks before it occurs, it is an extremely well known event.

Nothing is priced in until it actually happens.

Every fifth post in my Twitter feed mentions the halving. Bloomberg and CNBC are talking about it. It's definitely being hyped. If nothing else, then the surge in longs can partly be attributed to it. Plenty of people are speculating on a price rise after halving.

You're probably right that whales initiated a pump and retail followed, but that's just one angle. The narrative of the halving also plays a role. So does the tight correlation with the stock market. So do the technicals.

[enhu]

I am not expecting a correction.

A correction is a term that is used to describe a reversal after a significant market movement (usually over a short time frame).

If anything, the current bullish momentum is the correction following the events of Black Thursday, which saw BTC and most other cryptocurrencies get absolutely stomped in Mid-March.

I dont think we'll go far below $8,000 until some time after the halving (if only temporarily).

Agreed that the current upwards movement is a correction from the panic sell back in March.

But also I would certainly describe a drop from 9400 to 8400, which we already had in the day after the pump, as a correction, and I bet it goes lower still.

That's not a correction but rather a hype due to the upcoming halving. This is common scenario that bitcoin pump to an incredible percentage just like what happened on previous halving. The big drop from 9400 to 8400 is what you called correction due to sudden price charge. The march panic sell already corrected when the price reach 6000 to 7000 range on that same month also.

This big price movement is just a hype that whales always do to manipulate price by using the halving event.

No. Halving is well known about and is fully priced in. Any pump is not due to halving. Pump is either from whales initiating a pump and retail market following through or from the price simply continuing to correct back from the pandemic panic dump, or really more likely simply from the natural occurrence of the market pushing on a big resistance zone until it broke and then as what often happens if shoots up afterwards, then corrects downwards - that is an exact description of what happened the past two days. The market is not suddenly hearing about the halving two weeks before it occurs, it is an extremely well known event.

Whether they initiate the pump, it's hard to tell whether they feel the FOMO or will they dump soon. The 9K resistance might prevent the breakout to further reach that 9400. I doubt the FOMO can help break it so the possibility for the price to dip to 8000 is high. $8k isn't even a strong support level.

But then I can say a good start for halving FOMO. After halving it will be another pump.

[Distinctin]

Hey people. Are you expecting a correction in the next days. A lot of talk about a price dump around 10% before the halving starts. How serious can this be?

You should and you must have to expect that all the time. This kind of whales trick isn't something new to us, we have that before and that 2017 is showing how whales get huge participation to that unexpected dump. If we closely check the market movement, the market correction will possibly happen and I'm afraid how newcomers could deal with this thing knowing that they are expecting a lot for this halving.
Not only noobs should take this seriously but all of us. The market seems too tricky enough that might catch us someday.

[thecodebear]

No. Halving is well known about and is fully priced in. Any pump is not due to halving. Pump is either from whales initiating a pump and retail market following through or from the price simply continuing to correct back from the pandemic panic dump, or really more likely simply from the natural occurrence of the market pushing on a big resistance zone until it broke and then as what often happens if shoots up afterwards, then corrects downwards - that is an exact description of what happened the past two days. The market is not suddenly hearing about the halving two weeks before it occurs, it is an extremely well known event.

Nothing is priced in until it actually happens.

Every fifth post in my Twitter feed mentions the halving. Bloomberg and CNBC are talking about it. It's definitely being hyped. If nothing else, then the surge in longs can partly be attributed to it. Plenty of people are speculating on a price rise after halving.

You're probably right that whales initiated a pump and retail followed, but that's just one angle. The narrative of the halving also plays a role. So does the tight correlation with the stock market. So do the technicals.

I don't think the bolded is remotely accurate. Of course news can be priced in. The halving has been talking about for a very long time now, everyone in the market is aware it's coming. If nobody knew about it and then someone this week stumbled upon the halving in the code and the news spread and the market pumped then yeah sure that would be an obvious reason for a pump, but obviously that isn't the case. The halving as news is well baked in to the current price. There might be whales initiating pumps or dumps around the halving just because everyone is speculating what is going to happen so whales might play into that to create extra volatility and therefore profits. But the halving isn't suddenly making news that would drive up the price like that. And the halving as an actual event (not as a news story) is a non-event really, as its effects will be felt over the course of many months to come.

If the halving wasn't priced in until it occurs then the day of the halving we should see a huge pump that makes this look tiny. Of course, as explained above, that's not how things work.

Now, just to be clear, I'm not saying the halving narrative isn't playing any role. Sure people are excited about a rising price coming into this halving, but considering everyone already knows about it, no, the halving did not cause a 20% one-day spike in Bitcoin two weeks out from the event. There are much more reasonable and better arguments, like bitcoin correcting upwards for the vastly oversold panic sell of March as well as simply that the price broke through resistance so it pumped afterwards as you would expect it to do plenty of times in that situation. I mean hell the night before it happened I figured it'd probably pump well into the 8000s if it broke through ~7800 resistance because that's just how the market works, had nothing to do with the halving.

Like you say, its multiple angles, but the halving is only a small piece of that. I was responding to a comment that tried to lay halving hype as the whole reason for the pump, when it likely didn't really have anything to do with the pump at all. Sure the overall macro environment of the market is bullish due in large part because of the halving, but that is an environment that lasts for many many months, here we are talking about a discrete one day pump not the overall recovery from the bear market of 2018.

[Twentyonepaylots]

Hey people. Are you expecting a correction in the next days. A lot of talk about a price dump around 10% before the halving starts. How serious can this be?

You should and you must have to expect that all the time. This kind of whales trick isn't something new to us, we have that before and that 2017 is showing how whales get huge participation to that unexpected dump. If we closely check the market movement, the market correction will possibly happen and I'm afraid how newcomers could deal with this thing knowing that they are expecting a lot for this halving.
Not only noobs should take this seriously but all of us. The market seems too tricky enough that might catch us someday.

No one can predict the market so how do we get any price correction then? Whales doing could reflect in the market, yes, but I don't believe they are the ones behind your so called price correction. Whales are pretty clever coz they don't want their money to be liquidated, they won't let us guys gain from their money. Don't expect that much for the halving this year, the whole scenario is completely different from what we had back then, if we want to pump the price we are going to need a lot more than this but I think we are all scared to go for it.

[crwth]

Any reason why the price rose for the last few days? It's just the same as when the price goes down. You can never truly tell what could happen. All I know is that there are millions of USDT injected again into the market and then the market risen above $9000. A correction for sure is about to happen and it's not because of the halving, but the people's decision.