Bitcoin bullrun and correction period

[Wysi]

Bitcoin has been so bullish from last couple of week and this is exactly how 2017 bullrun started and as we discuss this Bitcoin has already crossed $17k, so are we ready for bullrun and a possible correction period post Bullrun?

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

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[Quidat]

Bitcoin has been so bullish from last couple of week and this is exactly how 2017 bullrun started and as we discuss this Bitcoin has already crossed $17k, so are we ready for bullrun and a possible correction period post Bullrun?

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

It might repeat or not since its hard to tell yet no one knows on what would happen in the future if this one will be on similar on what happened
on that 2017 bull run but for sure that panic sell and doubts will really be there once the price starting to decrease after this price increase rally.
Correction is always there yet its part of a healthy market and we cant just see that the market is just continuing to grow in a short span of time
this is why we should anticipate that there might be a correction before some bull run or would to have that major selling point and would again
fail to break its previous ATH. There are only two possible outcomes this is why we should be wise on when to sell out.

[Botnake]

That's what I'm seeing, a possible correction will come and once again the market will dump.
However, I believe it will not dump hard like before where we reach $3000+ because the market has strengthen already by the long bearish period.

Just be smart if you are planning to buy or sell, now is the time for selling not buying, don't ride with the FOMO if you believe that the same scenario will happen in 2017.

[Bitcoin_Arena]

As one saying goes, "What goes up must come down" A correction is inevitable but question is a what point might we see correction
I expect a correction following the recent rise just before we hit $20K but It might not be as big as the past correction where we dropped back to $3k.

Chances are also high we might go past $20k to newer levels in the upcoming months before we start seeing some major corrections. I guess this is where knowing when to make an entry and exit from the market comes in to avoid get rekt.

[jossiel]

Bitcoin has been so bullish from last couple of week and this is exactly how 2017 bullrun started and as we discuss this Bitcoin has already crossed $17k, so are we ready for bullrun and a possible correction period post Bullrun?

We do ready for both.

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

There are people who are always ready to sell at any price. Just like me, sold at different prices but that doesn't mean that I'm panicking and I'm holding it anymore. We have our own needs and if someone thinks it's good to sell, he has to sell if he wants to.

But if someone is selling due to panicking, I hope that they don't sell at loss.

[goinmerry]

Bitcoin has been so bullish from last couple of week and this is exactly how 2017 bullrun started and as we discuss this Bitcoin has already crossed $17k, so are we ready for bullrun and a possible correction period post Bullrun?

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

I disagree. Today's growth is not exactly how the 2017 bull run started. The price during that time went crazy without even a factor we can consider of the growth. The bull run today has fundamentals and not just because it was a bullish hype.

But I agree with you that last 2017, many become a victim of hype and end up still holding until the bearish market reached its bottom peak. We can say we are fairly ready for what will happen but there's no 100% preparation on how to counter the volatility.

[JohnBitCo]

Bitcoin has been so bullish from last couple of week and this is exactly how 2017 bullrun started and as we discuss this Bitcoin has already crossed $17k, so are we ready for bullrun and a possible correction period post Bullrun?

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

I disagree. Today's growth is not exactly how the 2017 bull run started. The price during that time went crazy without even a factor we can consider of the growth. The bull run today has fundamentals and not just because it was a bullish hype.

But I agree with you that last 2017, many become a victim of hype and end up still holding until the bearish market reached its bottom peak. We can say we are fairly ready for what will happen but there's no 100% preparation on how to counter the volatility.

What fundamentals are responsible for this bull run ? We are seeing 1000$ increase in the price of bitcoin every day so the big question is who is buying bitcoin in 16000-18000$ range ? Are they the retail investors , institutional investors or the bulls themselves buying and keeping the price up ?

[pooya87]

and a possible correction period post Bullrun?

i find it very odd to talk about something that is too far away in the future. it would be like talking about what started in January 2018 all the way back in middle of 2016 because that is where we are right now, close but still far from the previous ATH breaking of which is a long process itself. then we enter the big bull run that comes after all of which can last for over a year.

I disagree. Today's growth is not exactly how the 2017 bull run started. The price during that time went crazy without even a factor we can consider of the growth. The bull run today has fundamentals and not just because it was a bullish hype.

you are thinking about the end of the bubble which was the lat 2 or 3 months of 2017 not the START of the bull run. the start was in 2016 when price broke out of $400 IIRC. similarly the start of this bull run was when price broke out of $4000.

[bbc.reporter]

I speculate that there might never be a real correction period as long as Tether is driving this market to new a high.

iFinex might be printing the USDT, store it in their treasury and later loan them out to exchanges.

[JaredKaragen]

I noticed a correlation between price increase, and good news for trump;  and bearish movement on bad news days....

Also;  the investment by square says a LOT when it comes to BTC.

[boltz]

I think this is the most unpredictable ride of Bitcoin since inception because no one really anticipated or really believe that Bitcoin could march towards 20k$ in 2020 especially after the pandemic hit the world. Furthermore , we just cross 18.2k$ range and the capital of Bitcoin is bigger that it was in full bull run in 2017 so please correct me if I'm wrong but this just looks like the a really solid "V" in charts. What does it means ? It means that we have been in bull run since the end of  of 2016 and the real correction is about to come...or I'm wrong and another bull run just began...I don't know what to think anymore as it's super tricky to read it.

[maydna]

I admitted that it is a big achievement for bitcoin price that can jump to the high price level, and now the price can break $18k. I am sure that we are waiting for this moment because we will make a big profit and most of us can recover our losses before. But we need to be careful about the correction that can come after this and make sure that we are ready at that moment. And if we check on the market, it seems the correction comes because the price now is back to the $17,300 level, and I don't know how much the price will be down. But if bitcoin price can go up and down for $17k-$18k, that will be good for us because we can take profit over and over.

[exstasie]

After the price crossed the 2013 ATH in early 2017, the bubble lasted for about a year.

We haven't even crossed the 2017 ATH yet. It's way too soon to be talking about the next bear market!

I speculate that there might never be a real correction period as long as Tether is driving this market to new a high.

iFinex might be printing the USDT, store it in their treasury and later loan them out to exchanges.

Ah, bbc.reporter and his Tether theories.

People said that in 2017 too. Tether's market cap ballooned from $7 million to $2.2B during 2017. Nevertheless, the 2017 bubble still popped and BTC declined 84% less than a year later. What is different this time?

[Oasisman]

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

Nah, it will never going to change. There's always people who'll eventually sell at a lower price during the price correction as investors would have a race in dumping their coins to earn profit.
Nevertheless, I don't see a huge dump happening sooner, since Btc has still showing strength in an upward motion.
Most probably quick sellers would sell their bags once Btc reaches a new ATH, base on how people posted their regrets for not selling immediately during the 2017 ATH.

[cryptomaniac_xxx]

Bitcoin has been so bullish from last couple of week and this is exactly how 2017 bullrun started and as we discuss this Bitcoin has already crossed $17k, so are we ready for bullrun and a possible correction period post Bullrun?

As for my opinion, this is not 2017 yet, more of 2016, 2017 was very different, it was months of bull run specially from September to December, we haven't seen that as the price keeps on struggling once we hit a big barrier. Right now it is $18k. So I expect more corrections to come.

Last time we were not ready for correction period as a result many sold bitcoin lesser price our of panic which creates more negative impact, will it be different and mature response from users this time if similar thing repeats? Kindly share your opinions.

Majority haven't seen a bull run yet, that's why many sold without us touching the top. But as investors mature, I'm not seeing a sell-off unless we reach the bubble in 2021.

[STT]

Last time would be to slip in a quick reference that we simply repeat prior action as if nothing had changed from 2017 till now; clearly much has changed in 2020 and we cannot expect just a mirror copy of what happened before.   

There was a small correction tonight, where we returned to the bullish channel yet found it as support and continued which is very bullish action.   Yet theres little resistance in this area so its to be expected we dont stop easily.

[rhomelmabini]

At least we break first the last ATH before we say it's a full blown bull run and yeah it's like we kinda feel it in the air right now. I think we may see a retest hitting that ATH this week and if this feels like a 2017 scenario then we will see a retest by November or maybe it's starting by now then wait again for December, all are speculations but I think it's a good thing.

[leea-1334]

i find it very odd to talk about something that is too far away in the future. it would be like talking about what started in January 2018 all the way back in middle of 2016 because that is where we are right now, close but still far from the previous ATH breaking of which is a long process itself. then we enter the big bull run that comes after all of which can last for over a year.

Not only that,,, we have to be realistic (possible to be realistic in BTC?) and see that even if we touch the previous ATH, we have not yet had a correction. Many bounces from $14k but we went through $16k and $17k like nothing. One bounce from $18k but we should be strengthening with consolidation and corrections first I would say before taking on ATH.

So it is still to me very very far away in the future.

[noormcs5]

i find it very odd to talk about something that is too far away in the future. it would be like talking about what started in January 2018 all the way back in middle of 2016 because that is where we are right now, close but still far from the previous ATH breaking of which is a long process itself. then we enter the big bull run that comes after all of which can last for over a year.

Not only that,,, we have to be realistic (possible to be realistic in BTC?) and see that even if we touch the previous ATH, we have not yet had a correction. Many bounces from $14k but we went through $16k and $17k like nothing. One bounce from $18k but we should be strengthening with consolidation and corrections first I would say before taking on ATH.

So it is still to me very very far away in the future.

The way we are moving up, i think bitcoin will cross the All time high and then we may see a 20-30% correction. Also historically bitcoin prices are down near the Christmas and year end. No one knows exactly, at what point there will be reversal in bitcoin prices ?

[hossamdz]

i saw a post in facebook saying that :
#BTC
#Don't wait for 20K!
#Sell before 19k!
#wait under 16K!

actually it may be true and bitcoin can crush again before 20 k $ but this year is not the same situation , in 2017 the whole market was overbought , altcoins was already in the moon but now you can see the altcoins didnt start the bullrun yet and bitcoin is already in 20k $ , so i guess its a good sign for now