Recent Bitcoin Correction

[Alert31]

After a $19K value of bitcoin this month of November 2020 it suddenly down and now it played at the value of $16K in the market. Why it's so fast for downtrend of bitcoin?

There are two key trends caused the recent Bitcoin correction. First, whales began to sell BTC at around $19,000, resulting in a downside volatility spike. Second, this relatively small price drop triggered a cascading wave of liquidations in an overleveraged futures market.

Ki Young Ju, the CEO of CryptoQuant, said that more corrections might come in the short term.

“More $BTC corrections might come. All Exchanges Inflow Mean (144-block MA) remains still high. In my opinion, we’ll face some corrections/sideways this week and it will break $20k by December this year. I’ll stack some sats a few days after.”

https://cointelegraph.com/news/bitcoin-s-price-correction-may-not-be-over-on-chain-data-analysts-warn

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

[Chrystora123]

The weakness of Bitcoin is only 1, that is price/value which can be easily manipulated by whale groups who have millions or even billions of dollars in Bitcoin.  the key to profit in Bitcoin is only to buy at a low price then sell at a high price.  a market correction is the best moment to buy Bitcoin.  currently, the market is bearish (market correction) so don't waste this opportunity to buy more..

[rhomelmabini]

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

Of course that wasn't true it's just his speculation and opinion to say the least, who knows what will be the price actions next week but I guess the bulls are still in control and remember this is a bull market and probably this is just a bear trap. I'm still long and there's no way it wouldn't break that resistance from 2017 when we are already at this range, HODL.

[blckhawk]

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

Of course that wasn't true it's just his speculation and opinion to say the least, who knows what will be the price actions next week but I guess the bulls are still in control and remember this is a bull market and probably this is just a bear trap. I'm still long and there's no way it wouldn't break that resistance from 2017 when we are already at this range, HODL.

Having the same thought. I think this is just a correction played by the whales and I don't think that the bull run is now over, could this be a bear trap. But anyway, take this opportunity to procure more Bitcoins and hold. I think we are just at the beginning of the run so expect for more growth. If this really the correction we've been expecting I think this wouldn't be like we had in 2018 because today's run is more firm and mature compared to before. Adoption of big corporations and institutional investors are the big factors so I am pretty sure that it would be different.

[rhomelmabini]

Having the same thought. I think this is just a correction played by the whales and I don't think that the bull run is now over, could this be a bear trap. But anyway, take this opportunity to procure more Bitcoins and hold. I think we are just at the beginning of the run so expect for more growth. If this really the correction we've been expecting I think this wouldn't be like we had in 2018 because today's run is more firm and mature compared to before. Adoption of big corporations and institutional investors are the big factors so I am pretty sure that it would be different.

It's probably a bear trap and hope that people will not fall for it. I do think that we many never see another $15k or $16k range this year, just my thought and maybe it will last for a week until we got to the oversold daily chart. I don't think that this is like 2018 I feel like this is really 2017 and during the 2017 ATH on November there's that weekly candle that's red then after that its all the way from ATH the next week.

[exstasie]

After a $19K value of bitcoin this month of November 2020 it suddenly down and now it played at the value of $16K in the market. Why it's so fast for downtrend of bitcoin?

There's an old saying about this: markets take the stairs up, and the elevator down. With monumental gains usually come very sharp downside corrections. It's got nothing to do with the underlying fundamentals of Bitcoin, and everything to do with market liquidity and technicals.

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

Yeah, "buy the dip" as they say. I'm confident we'll see a new ATH by early-mid 2021.

[CyberKuro]

Since bitcoin failed to break the resistance at $19,5k and many people want to sell at the ath, it makes sense for traders to sell in advance. The question is how long it will last, how much the correction will be? However, bitcoin seems to hold above $16k so far which means the rebound will take place soon.

The weakness of Bitcoin is only 1, that is price/value which can be easily manipulated by whale groups who have millions or even billions of dollars in Bitcoin.  ~

Bitcoin has many imperfections but in terms of volatility, that's one of them, it can't be solved though as people who have much money has the privilege to accumulate bitcoin more than average people.
That's why we hope the institutional investors are planning to hold bitcoin for the long-term.

[Wysi]

Yes this is neither the first correction nor this will be the last correction, we will come across more such corrections, but Bitcoin will always bounce back and I feel there is a strong resistance at $16k so we can still believe in bitcoin and avoid panic selling, at the same time we should not be buying due to FOMO. The current market situation is not suitable for buying Bitcoin.

[usekevin]

The weakness of Bitcoin is only 1, that is price/value which can be easily manipulated by whale groups who have millions or even billions of dollars in Bitcoin.  the key to profit in Bitcoin is only to buy at a low price then sell at a high price.  a market correction is the best moment to buy Bitcoin.  currently, the market is bearish (market correction) so don't waste this opportunity to buy more..

Actually the price of bitcoin is a positive one.You should choose the time and buy the valuable bitcoin at low price.You should considered it as a opportunity and don't think in a negative manner.The key should be used wisely to get a profit from it. Instead of saying it as a negative one.

[carlfebz2]

After a $19K value of bitcoin this month of November 2020 it suddenly down and now it played at the value of $16K in the market. Why it's so fast for downtrend of bitcoin?

If you've been here on this market for a while now then you wont really be surprised with this kind of movement.If you are just new then get used to it

because price can really move that fast and i dont know why people still got surprised when they do saw too fast movement without even asking when bitcoins price
is rallying up?

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

Corrections would always happen because we cant just see a market that would only be having a continous rise.A healthy market would always be having
those corrections and sell-offs.So you should really anticipate these kind of events and thats why you should really make yourself a little bit wiser
on making up fast decisions specially if you do active trades.

[Husires]

The price was below $ 12,000 a month ago and it started rising crazy, but it will be the last sharp drop in the dollar’s value. Let's start with the crazy levels above $ 20,000 and so on.

Correction levels may be the last chance for those who want to buy cheap.

[Bitcoin_Arena]

After a $19K value of bitcoin this month of November 2020 it suddenly down and now it played at the value of $16K in the market. Why it's so fast for downtrend of bitcoin?

The theory is when people are opening up positions both in spot and futures markets, there is a tendency to apply stop losses. So once a handful of whales start selling off at their target prices, the slight downward movement can easily trigger stop losses and liquidations especially of traders on futures markets who are trading on high leverage. This will set of a chain of liquidations and stop losses are the price continues to quickly go downwards.

That why you see, during an uptrend, the price usually seems to climb slowly but when a correction takes place, prices seem to drop so first.

[TimeTeller]

After a $19K value of bitcoin this month of November 2020 it suddenly down and now it played at the value of $16K in the market. Why it's so fast for downtrend of bitcoin?

The theory is when people are opening up positions both in spot and futures markets, there is a tendency to apply stop losses. So once a handful of whales start selling off at their target prices, the slight downward movement can easily trigger stop losses and liquidations especially of traders on futures markets who are trading on high leverage. This will set of a chain of liquidations and stop losses are the price continues to quickly go downwards.

That why you see, during an uptrend, the price usually seems to climb slowly but when a correction takes place, prices seem to drop so first.

And to add the fact that a lot of btc holders are waiting for that price level (approx 19k) to sell their holdings.
We may be seeing price drop but I believe we will not stop on this current level.
This coming month, we will see how will the btc perform in the market.
If more big companies will integrate crypto in their system, increase in adoption will continuously be observed.
And that is very important in crypto, to push thru its price level in the market.

[Oasisman]

currently, the market is bearish (market correction) so don't waste this opportunity to buy more..

Are you sure the market is currently in bearish run?
Correction, yes, but bearish? No. Btc has come a long way since It has been bearish below $10,000. Currently Btc has been trying to bounce back up every pull back caused by market correction. With the current price range of $17,000 I don't think we call it bear. We're actually still in a bullrun.
Correction are kinda normal, considering there's a lot of people who's looking to sell at the peak.

[Yaunfitda]

It's imminent that sooner or later the market will have to experienced a pullback. From $10k-$19,500 in just two months? it's obviously on the bubble so it's about time that a correction should happened and it did. Also there is this rumour that the Trump administration will go and "attempt to track owners of self-hosted cryptocurrency wallets", scary news that might have negative connotations to majority specially panic selling from newbies.

As far as buying it right now, yeah, why not, if you have some funds sitting around. As I'm one of those that a new all time high is also forthcoming next year and not this year. That's why it is important to fill your bags at this price as we might see $30k or up the whole of 2021's bull run.

[GreatArkansas]

currently, the market is bearish (market correction) so don't waste this opportunity to buy more..

Are you sure the market is currently in bearish run?
Correction, yes, but bearish? No. Btc has come a long way since It has been bearish below $10,000.
(...)

Maybe he/she is talking about bearish in lower time frames. But for me, I am agree with you OasisMan that this is just a correction of a huge run of Bitcoin these past few weeks up to $19,000.
I just don't want to see a breakdown below $13,000 and after that, $11,000 again. But this is kinda impossible these days. I am more bullish, for long term.

[Casdinyard]

The weakness of Bitcoin is only 1, that is price/value which can be easily manipulated by whale groups who have millions or even billions of dollars in Bitcoin.  the key to profit in Bitcoin is only to buy at a low price then sell at a high price.  a market correction is the best moment to buy Bitcoin.  currently, the market is bearish (market correction) so don't waste this opportunity to buy more..

Actually the price of bitcoin is a positive one.You should choose the time and buy the valuable bitcoin at low price.You should considered it as a opportunity and don't think in a negative manner.The key should be used wisely to get a profit from it. Instead of saying it as a negative one.

Those who panic are probably the new ones in this industry. Market price downfalls is a normal thing in this market. There will be times of prices at peaks and also, times in  low end. Whether it is still a bullish market or not, anticipate what should be done next because predicting what would really happen is a punch to the moon. If the market price keeps on falling, then choose to invest. And if the price starts to recover, choose to hold. You should know the risks upon investing to something. Every situation has its own advantages and disadvantages, it just depends on how you will view the situation.

[TravelMug]

The weakness of Bitcoin is only 1, that is price/value which can be easily manipulated by whale groups who have millions or even billions of dollars in Bitcoin.  the key to profit in Bitcoin is only to buy at a low price then sell at a high price.  a market correction is the best moment to buy Bitcoin.  currently, the market is bearish (market correction) so don't waste this opportunity to buy more..

Actually the price of bitcoin is a positive one.You should choose the time and buy the valuable bitcoin at low price.You should considered it as a opportunity and don't think in a negative manner.The key should be used wisely to get a profit from it. Instead of saying it as a negative one.

Those who panic are probably the new ones in this industry. Market price downfalls is a normal thing in this market. There will be times of prices at peaks and also, times in  low end. Whether it is still a bullish market or not, anticipate what should be done next because predicting what would really happen is a punch to the moon. If the market price keeps on falling, then choose to invest. And if the price starts to recover, choose to hold. You should know the risks upon investing to something. Every situation has its own advantages and disadvantages, it just depends on how you will view the situation.

It's obvious, just look at the countless thread popping up right now asking for advise about the current downfall because they don't know how to react with this kind of dip or correction. They got nervous seeing their portfolio losing so much value.

But for those who have been here and have seen the trend or the ups and downs of the market, this is just normal market price correction. On the contrary, this could be another golden opportunity, black friday sale, Lol. So everyone should be looking at the long term gains, specially next year, no need to push the panic button now.

[LogitechMouse]

After a $19K value of bitcoin this month of November 2020 it suddenly down and now it played at the value of $16K in the market. Why it's so fast for downtrend of bitcoin?

Nothing new. We already saw Bitcoin went down from around $8k to near $4k last March and take note that it only took few days to happen (IIRC 2-4 days). The reason I think is that the market is heavily manipulated still by whales and institutions and they can dump Bitcoin easily if the see a bad news coming.

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

Every correction is a good time to enter but still risk management is the key.

[smyslov]

If it was true that there are more bitcoin correction to come, then I think, it is a good time to buy more again before the another bitcoin ATH will come.

It is the right time to buy, the big pump in the $19000 is an indication that the strong buying motivation is coming and there are sectors that will pump Bitcoin, people will always sell their coin for profit, it's just happen that there are many people selling for profit, and the buyers are still gaining ground it's only a matter of time before we will have a big pump until we reach the next all time high.