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

[Fortify]

I was actually expecting there to be a large correction when the Covid vaccine was announced and there was a bit of a dip. As people pull money out of riskier assets and put it back into companies who will be able to earn/payout re-occurring profits again. However the correction did not go very deep and it has since rebounded back. At this point it is looking increasingly like large buying activity is taking place in the background. Money is very easy to borrow right now and if the richest in society see an upward trend in any asset, it's highly likely they will want to invest as much as possible into it. It's highly likely that we could just be seeing the beginning of a much higher march upwards in the Bitcoin price, it would not be surprising to see $20k soon - at which point it might dip back down again temporarily.

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[Ridwan Fauzi]

I don't think bitcoin will meet the correction as of now, I just expect that bitcoin can surpass the $20.000 barrier first and make its price as a strong support.

Currently, the bitcoin price has been able to touch $16.000 since 2017 ago and I'm expecting also for the price goes up more than $16.000 and make its price as a strong support.

A few months ago, bitcoin has tried to touch $9800 as its correction and many people were predicting that the correction to $9800 was a reasonable price but who knows, bitcoin only touches $10.000 as its correction, and until now we haven't touched below $10.000 again.

The situation can be repeated now, we can rely on the big news that will come and bitcoin can touch a higher price again. And as long as the economic situation from all country still bad bitcoin will still in a good trend.

[BrewMaster]

you should be very careful not to cross the line between "correction" and "crash". reading some of the replies here i  have a feeling that people are expecting big crashes while calling them "correction".

at this point (that we are on the rise) anything bigger than 20% is a big market crash and crashes can not happen without any strong negative reason. anything above that, is possible and can be referred to as a correction and shows the healthy market.

this is also another reason why i said it already happened.

[Febo]

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 hope not below $9000 since I dont want to see Vegeta memes anymore.   Correction can be whatever. But I think since that lately announced covid vaccine should be very good, some serious correction is out of question. It will definitely be a long path to $20k. Because it is end of the year and Bitcoin two times acted extremely bullish at this months, some think that $20k Bitcoin is just around the corner.

[CODE200]

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 hope not below $9000 since I dont want to see Vegeta memes anymore.   Correction can be whatever. But I think since that lately announced covid vaccine should be very good, some serious correction is out of question. It will definitely be a long path to $20k. Because it is end of the year and Bitcoin two times acted extremely bullish at this months, some think that $20k Bitcoin is just around the corner.

Bottomline is; no one knows.
The assumption will be: How big the next correction will depend on how huge its increase in a short period of time. For example, its market value from $17k USD became $40k USD within two weeks. Then correction might bring the price back to $17k price mark.
But nothing is certain. The result of the next price correction could be higher than the assumed, or lower. We just don't know since there's no pattern in its market value. We can draw assumptions but it will definitely not affect the reality or what will happen.

[shoreno]

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 hope not below $9000 since I dont want to see Vegeta memes anymore.   Correction can be whatever. But I think since that lately announced covid vaccine should be very good, some serious correction is out of question. It will definitely be a long path to $20k. Because it is end of the year and Bitcoin two times acted extremely bullish at this months, some think that $20k Bitcoin is just around the corner.

Bottomline is; no one knows.
The assumption will be: How big the next correction will depend on how huge its increase in a short period of time. For example, its market value from $17k USD became $40k USD within two weeks. Then correction might bring the price back to $17k price mark.
But nothing is certain. The result of the next price correction could be higher than the assumed, or lower. We just don't know since there's no pattern in its market value. We can draw assumptions but it will definitely not affect the reality or what will happen.

there is a pattern in the value of btc but its not progressive because  there are some years that breaks the pattern  . if there is a pattern in price , there could also be a pattern in correction . have someone already check that , they can study it using the old price chart of bitcoin but like you said anything can happen , maybe itl break the pattern again or simply the flow is not same as before but i hope that the correction arent going to be really heavy because that was like going back again from the start .

[lunnatic]

Bitcoin price has broken out, and is above $ 16000, it looks like this will continue until the next resistance,
if you want a correction wait until the new all time high is reached, maybe $ 20k then correction to $ 16000,
after that mega bullrun, just speculation

[kentrolla]

BTC has been recognised as currency in many countries and as of today it's the most liquid and widely accepted crypto currency in the world, also a lot of investors are expecting BTC to see new heights and hopefully we are nearing to it.

And yes predicting the price is never easy nor accurate so I don't believe in this stuffs, in my personal opinion the price may go up as BTC broke the 15k barrier.

[philipma1957]

We are not back up to July  2019 price level of 13000+

When you factor in the 1/2 ing and increased difficulty the July 2019 13000+ usd price needs to be around 28000-30000.

So correction may not occur until some time past 28,000-30,000 with correction to around 12000-13000.

If we were as profitable to mine as Dec 2017. Price needs to be 78000


So we are not really in bull runs.

Note this is from the mining aspect. Not the trading or investing aspect.

How much upwards price pressure will happen I how no idea.

But if this is like fall of 2016. we get close to 20k then correct

with true bull happening in fall 2021 and we pass 80k.

[tbterryboy]

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!

You mean the next bull run? Or correction? Because corrections happens after there is a bull run and the price goes very high, then a correction takes place and the price is reduced.

So, I guess you’re referring to what we are all waiting as at this time which is the bull run. We can’t tell how big the bull run is going to be, but I have this feeling that the bull run is going to be bigger than what we had the previous time. Look at the price we have now, the price is almost $16,000 and by that we will be just $4000 away from the last ATH price- $20,000.

[exstasie]

you should be very careful not to cross the line between "correction" and "crash". reading some of the replies here i  have a feeling that people are expecting big crashes while calling them "correction".

at this point (that we are on the rise) anything bigger than 20% is a big market crash and crashes can not happen without any strong negative reason.

Nope, 30-40% "crashes" are very normal during Bitcoin's past bull markets. June-August 2016, January 2017, March 2017, June-July 2017, September 2017.....

People can try to find news items to justify why the price fell (before returning to new highs) all they want, but the truth is those were just healthy bull market corrections. If you don't expect them to happen again during the next bull market, you're going to be unpleasantly surprised.

[Quidat]

you should be very careful not to cross the line between "correction" and "crash". reading some of the replies here i  have a feeling that people are expecting big crashes while calling them "correction".

at this point (that we are on the rise) anything bigger than 20% is a big market crash and crashes can not happen without any strong negative reason.

Nope, 30-40% "crashes" are very normal during Bitcoin's past bull markets. June-August 2016, January 2017, March 2017, June-July 2017, September 2017.....

People can try to find news items to justify why the price fell (before returning to new highs) all they want, but the truth is those were just healthy bull market corrections. If you don't expect them to happen again during the next bull market, you're going to be unpleasantly surprised.

If we've been into this market for a while now then those crashes wont really be that something new to be surprised on and yes that 30-40% is a typical one for it to be called some correction.
Asking out on when it would occur then no one really knows yet anything can happen on a short span of time thats why its better to utilize these price or bull run moments to make money
because once the market had lost its momentum or shall we say that whales do tend to make up some sell of their bags then we would really be losing that chance and the
bought then everything is on red. Important thing here is that you wont really get panicked when you do see these instances yet these will definitely happen.

[TravelMug]

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.

This, currently the price is wedge around $16.5, if this is broken then $18.3 is on the horizon.

But if $16.5 doesn't hold up, we might see another correction, 30%-40%, so it's either you sell at $16.5 because there is a possibility of big correction coming.

Or stick to it till $18k and then make your decision later.

[600watt]

if the next bull is like 2017 bull, be prepared for several face ripping 30-40% corrections. that is how 2017 rolled. it will be hard to see the difference between the usual 40% corrections and the beginning of the the next crash after new ATH.  oh the fun. 

[adaseb]

if the next bull is like 2017 bull, be prepared for several face ripping 30-40% corrections. that is how 2017 rolled. it will be hard to see the difference between the usual 40% corrections and the beginning of the the next crash after new ATH.  oh the fun. 

I don't think most people care about 30-40% corrections as long as it eventually keeps hitting ATH after ATH. The issue here is to find the last correction before a trend reversal. And this is difficult to prove.

I basically kept taking partial profits whenever we got a 30-40% and basically sold at the 50% fib level just in case it was the top, and it never was the actual reversal. To catch the reversal and sell at the highest price, I think it matters how much it goes up on the daily candles and sell when the correction starts to bounce. Basically if we get like a 20% day, then another 20% day, then another 10% day, and we get a 40% correction, wait until it goes back to like 20% correction and take profits there. Might or might not be the peak.

However you can never time it properly and might end up basically selling, while a few days or weeks later it makes another ATH.

[maydna]

Finally, the bitcoin price can break $16k today, but the price stops to increase higher. The correction can happen anytime, and there are many possibilities to go down deeper, but I hope that the price will not go down below $14k. But that can be possible if people panic to see the price drops in a short time. But if somehow, the bitcoin price goes down lower than $14k, we can't do anything except following the price, but we have another chance to see bitcoin price will have the time to start another rally. This price is good enough to take the profit, but that will be up to you if you want to sell right now or later.

[Oasisman]

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!

There is no certain range for a market correction, that purely depends on how massive the investors are going to dump their bags. Or shall I say massive sell out that's coming from the whales/big players.
If you take a look back the 2017 ATH, Btc went from $20,000 down to $10,000, but of course that's not always gonna be the case. We are in a different situation and different market volumes. More Institutional investors are coming in the market today. So, I don't think a sharp drop caused by market correction is most likely to happen.

[justdimin]

I don't know when it will occur but I feel like we may not go under $10k ever again. I do not have any data to back this up so it could be all lies and I am just making up a guess here but looking at bitcoin and all the support points, in order for us to go under $10k again we need to have a year long bear period, which we had in 2018 so it is not impossible for something like that to happen, but it took us a whole year to be like that last time it happened, and with this many new people involved in crpto, I do not believe millions of people will be selling it constantly for a year anymore.

Back in 2017, it was a lot less people and a lot worse tech behind it so it was simpler to just sell by few rich whales to drop it, today it is not like that anymore and it would take a lot more to drop the price that significantly.

[mich]

I will be wiling to accept a 'correction' back down to $10,000.  If the price starts to go back below that, I will begin to start getting worried like I did last time we saw that price.

But lets hope there isnt a correction (if thats possible) and we are just on the verge of reaching a all time high.

[electronicash]

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!

There is no certain range for a market correction, that purely depends on how massive the investors are going to dump their bags. Or shall I say massive sell out that's coming from the whales/big players.
If you take a look back the 2017 ATH, Btc went from $20,000 down to $10,000, but of course that's not always gonna be the case. We are in a different situation and different market volumes. More Institutional investors are coming in the market today. So, I don't think a sharp drop caused by market correction is most likely to happen.

i think there won;t be a sharp drop like about -70% just like the last 2018 where it goes up to 20K and then down to $3k. but let see how much the price of btc will go. if the price really will go to the sky like the speculations of big firms up to $100K, it would be too much to expect -70% again because the adoption is here already. back in the days there was no paypal yet.

who knows whats to come soon, if governments recognize BTC and cryptocurrencies i don't think there won't be too much of a dump. i'm almost sure it won't drop to 4 digits again.