Let's discuss: How big will the next correction be? And when will it occur?

[Bergluft]

Hi guys,

given the immense growth the last few weeks, I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

All opinions are very welcome!

[concept2]

I do not know when the next correction occurs but right now, bitcoin is trying to break $15500 resistant point. If this non-stop momentum continues, I believe we will soon hit $20000. From my point of view, it is difficult to estimate how big the next correction will be. It depends on many element but first, bitcoin needs to have a precise retracement to that I can make an analysis.

Personally, I do not think that bitcoin will drop more than $5000 this time. Many people support bitcoin and they have gathered their strength so as to stop bitcoin from falling below $10000. Moreover, this is the first time we hit $15000 after more than 3 years.

[Gotumoot]

I also wants to ask about it the price keeps on growing and I want to know how others see it so we could be ready for it unlike what happen in 2017.
Do you think that it would repeat it? Do you think that after staying at 5 digit it would crash down below $10K again?

[masterrex]

Hi guys,

given the immense growth the last few weeks, I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

All opinions are very welcome!

IMHO, I think the market correction is already in effect because in the last seven days the BTC price was dip as much at $14,102.09 on Nov. 8, 2020, from $15,903.44 on Nov. 6, 2020, if we look at that price difference that was almost - $1801 in just two days, thats why I believe that it was a small market correction but I'm not sure about it I'm not an expert analyst, in short, it was just part of my opinion. 

[davis196]

I think that this topic belongs to the Speculations sub-forum.
The next price correction won't be "catastrophic" or a "nose-dive" drop.I think that there will be several small price corrections of around 5-10%,all the way back to 10K USD.Those price corrections might happen in the beginning of 2021(if we are pessimistic about the Bitcoin price) or maybe they will never happen(if we are die hard Bitcoin fanatics,waiting for the price to hit the moon). Everything is just suggestions and wishful thinking right now.

[MusaMohamed]

I don't know when correction will happen but corrections are unavoidable things on the market.

Corrections often occur when prive moves to the ending range of a pattern, like a Wedge. It can happen before the end of a wedge or a little later. Who knows when the gun will be fired.

Corrections are good not bad for organic price growth.

[mk4]

How big will it be in your opinion.

It will completely depend on how much bitcoin will grow in the short-mid term future. A bigger spike up almost always means a drop almost as big.

And when will it occur you think?

Your guess is good as mine. The 2017 price spikes almost came out of nowhere. I'd assume it'd be kinda the same.

Also, move this thread to the Speculation[1] section. The move option is on the bottom left of this page.

[1] https://bitcointalk.org/index.php?board=57.0

[Upgrade00]

The next correction would depend on the next bull run.
In 2017, Bitcoin had a bit of a quick run up, the price at the beginning of the year was below $1000 and remained low for most of the year. At about the end of the third quarter/beginning of the fourth, it was within the $5k range, just before the big push which saw it reach the heights of $20,000.
This year has been a bit different, Bitcoin kicked off at over $7,000 and all through the year it has mostly remained above the $8k mark, trading below it for only short periods of time.
During this year also, there has been a higher bullish sentiment around Bitcoin from investors, with demand far surpassing the rate of supply, especially after the halving.

All that being said; I would not expect a huge correction when Bitcoin eventually enters into a bull run, maybe a drop of 20 or 25%. The next spike should take Bitcoin to a new support and resistance range above what we have now.

[tsaroz]

Though my last prediction was a bit wrong, I have had a good profit from holding and trading bitcoins in the last 6 months.
The price at the moment is holding in and upper zone without any correction, so a correction is highly likely but before that, there's even a chance for a quick price boost that may even get bitcoin to new all time high. That's a probability but what has a higher probability is bitcoin's price would correct to about 12K in my prediction.

[Asuspawer09]

In my opinion, at the end of 2020 the market price could either go pump up and reach its ATH in the market or at some point maybe could even surpass it.

Or in the coming months, the market price of bitcoin is just gonna sustain in its current market price around 10,000$-15,000$, breaking the 15,000$ resistance is I think gonna be difficult and 16,000$-20,000$ is I think where the movement in the market become kinda sketchy and will not sustain for long as long as it didn't break the ATH.

[dothebeats]

Possibly not sending us back to $10k since we are already sitting comfortably at $15 - $16k ranges without any major selling pressure along the way. Most sells coming in today are from small traders wanting to cash out, and most of the whales are already satisfied with what they have that they are just waiting for the price to push once more before they rejoin. As for the 'when' question, it's anybody's guess, though one thing there is to say currently, there aren't that much people interested in selling their coins any time sooner.

[BrewMaster]

given the immense growth the last few weeks,

it was a very tiny price rise actually.

I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

it already happened!
take a look at the charts my friend. price went up to $15850 and then had a correction where it fell down as low as $14800 which is a $1000 dollar correction.
and now in the past 3 days price has been slowly rising from that low to $15.5k levels again.

[exstasie]

given the immense growth the last few weeks, I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

I don't want to speculate too much about the resistance level that will serve as a mid-term top, or timing it. What I will say is this: when it happens, look for a 34-42% decline. Based on past bull markets, that's a good "knife catching" range to buy the dip. BTC is very unlikely to go below there.

From $16K, the extreme is the mid-$9,000s. From $18K, it's closer to $12K or $12.5K.

I would say the book is closing on sub-$10K prices. If we ever see them again, it will be a short-lived wick.

[milewilda]

Hi guys,

given the immense growth the last few weeks, I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

All opinions are very welcome!

Telling or identifying out the next correction cant really be known by everyone.It will just come by on an instant where we do only know when its there.I cant blame out people not to think of the possibilities
because there would always be a price correction, we're hoping that this wouldnt be like on that 3k dump that we had in the past. Correction is acceptable but we hope that it wont really be into that
extent.Majority of us are longing and excited to touch the previous ATH and even breaking that level.For now the best thing to be done is to make money out of these movements.
Expect for corrections or dumps because it can eventually happen thats why secure your profits once you had able to gain.

[NeuroticFish]

given the immense growth the last few weeks, I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

All opinions are very welcome!

Smaller corrections (let's say under 1000$) will happen now and then. But I think that the really big correction will happen only after a new FOMO bubble gets the price very high.
So directly to OP question, the next correction will be rather small imho.
When... LOL! if people would know to predict all movements everybody would make a living from trading (of course that cannot happen).


PS. Since the price almost reached 16k, a dump/correction is already happening. Will it matter? I think (I hope?) it won't.

[hatshepsut93]

Correction will happen when the price rise will slow down. This might happen very soon, because we have been at this $15.5-15.7k level for a while, and there already was a small drop, but the support was huge, so we bounced back. But if Bitcoin will fail to push past $16k, correction to $14k and lower is quite likely. If $16k will be broken, then it's impossible to reliably predict it, cause we don't know what's the next big level will be.

[tomahawk9]

Some people are saying we're in "2017 bull run" territory because of the tremendous bullish sentiment surrounding the market (newcomers, hodlers, traders, analysts, etc, everyone's bullish). Now, if we follow old data and charts from 2017 whe price went up to 20k and we had a similar bullish sentiment, we're probably due a few more corrections before we start testing that ATH.

If if you look at the btc charts on Coingecko or CMC, you'll see that back in Nov/Dec 2017 we had a a couple of  big corrections (7.5k to high 5k's, then from 18.5k to 15k). Now, this data doesn't mean that we'll see that exact same behaviour now (IF this turns out to be a bull run of that magnitude), mainly because the state of the crypto market has changed a lot in the last 3 years, but, you never know...

[wheelz1200]

No one really knows.  People use technical analysis but I can show you all sorts of charts which you can defend to say we are in a bull market or there is another bear right around the corner.  Crypto markets are fickle, just need to ride the waves and cost average in and out to take away some of the short term risk.

[batang_bitcoin]

Nobody knows how big and when it will be. You shouldn't think about it but instead, you need to think of the possible drawbacks and actions you need to do once it starts to correct.
Buy or just keep holding but usually, it's the buying time. That's all you need to think of.

[Reatim]

Hi guys,

given the immense growth the last few weeks, I was wondering what the community thinks about the next correction. How big will it be in your opinion. And when will it occur you think?

All opinions are very welcome!

We all know that this is impossible to predict but let us give our own opinion as sharing as we expect this to happen soon.

How Much it would be? -  20-30% i believe specially in bitcoin price and the next 4 ranks.

When this will be? - at least Last week of November before December comes.


But i will be glad if the correction will not come and we will continue in growth from today till end of the year.