Could this correction lead to a bear market for Bitcoin?

[Ridwan Fauzi]

Yes there is a sign, you can see the weekly time frame the previous candle has been closed by the red candle (this week candle). Although the current candle is still run for 4 days left I don't think it can be closed in the green candle, other than that I see in the fundamental factor some countries started giving a vaccine for their people. Which can make their economy run normally, at least there is no worry to stop their activities. A good information from all countries in this world will make bitcoin fall because some investors will take the money and save in their bank account again.

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[darewaller]

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Could it? Of course it could have, but it looks like it is not going that direction at all. I personally think there is really nothing to worry about as of right now, as you can see things are doing great and price recovered a lot anyway, so we are doing quite well.

However we are still not sure about how good we will go and how long it will go on neither, maybe it will be great for now, maybe it will be good for a while, maybe it will do another round of correction, we really don't know what is going to happen and when it will happen. This is why I suggest everyone to stay away from going all in, there is no reason why people should go in, it is smarter to put in a bit of money now, a bit of money later, wait a bit to see what is going on, that way you would be a lot better in the end, and that is what I think should every investor do during these type of movements.

[sana54210]

Yes there is a sign, you can see the weekly time frame the previous candle has been closed by the red candle (this week candle). Although the current candle is still run for 4 days left I don't think it can be closed in the green candle, other than that I see in the fundamental factor some countries started giving a vaccine for their people. Which can make their economy run normally, at least there is no worry to stop their activities. A good information from all countries in this world will make bitcoin fall because some investors will take the money and save in their bank account again.

On contrary the good information from the nations do not make crypto fall, for example if you checked the summer and what happened, the first wave was over and everyone went back to work and companies started to make a ton of profit, stock markets rise incredibly, people were back to their regular lives, summer passed like that, what happened? Bitcoin increased a lot.

Economy not being good is a lot more important for bitcoin and it allows it to go up, but more people have more they end up using it to buy bitcoin as well so that helps bitcoin too.

Bitcoin doesn't go up or down depending on how the economy is doing, it goes up and down according to what people want to invest into and if people like to invest into bitcoin the price goes up, this could be at any moment, doesn't need to be good or bad, as long as they want in, we will go up with all the money going into bitcoin.

[magneto]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Unfortunately, you are being overdramatic.

If you just roughly gauge the market sentiment you'll quickly realise that people are still extremely bullish. And looking back at longer term historical trends, they have very good reason to.

This is a classic post-halving pump that occurs every four years or so, and generally lasts 1-2 years before a major bear market takes over again.

With such strong fundamentals this time round and a very fragile fiat global economy, it is seriously a perfect storm. These corrections along the way are not only expected, but probably healthy to flush out the weak hands in the short term.

[sayaya17]

We all know that crypto is volatile. The decline when bitcoin is at its peak is commonplace, so don’t make that up because of the decline in bitcoin you become discouraged. The decline that is happening now is an opportunity to buy back bitcoin at a cheap price, and it’s an opportunity to make a big profit again, having sold at the current height of bitcoin bullrun. But in reality bitcoin does not lower its price to very low. We can see the price of bitcoin today is $37k.

[Saisher]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

A lot have happened after your post so far Bitcoin price is doing good and keeps setting new record and hopefully it will continue to perform better for the whole first quarter, there are no indication if the correction will lead to a bear market, there are no bad news that can affect investor's trust in the market, the motivation to buy is still there.

[blckhawk]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Having correction doesn't mean we are about to enter the bear market. Honestly, it can bounce back and I think that is what exactly happening right now. I also don't think institutions are done accumulating so perhaps there's a chance that the rally would last more longer. Furthermore, corrections are healthy for the market so don't fear them in fact you can turn it on your side like you could buy as well. The bear market will only enter if whales and institutions reach their target price to dump all of their holdings.

[Silberman]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

The correction was necessary because the market was growing simply too fast, I understand that people get scared when the price goes down so quickly but it seems that the market is back to normal and I think we are going to see another attempt by the bulls to try to breach the 40k level once and for all and remain above it, however there is something that worries me, the bitcoin dominance has been going down, and while some may see this is a good thing because it may be an indication of an altcoin season I do not like this at all.

[thecodebear]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

The correction was necessary because the market was growing simply too fast, I understand that people get scared when the price goes down so quickly but it seems that the market is back to normal and I think we are going to see another attempt by the bulls to try to breach the 40k level once and for all and remain above it, however there is something that worries me, the bitcoin dominance has been going down, and while some may see this is a good thing because it may be an indication of an altcoin season I do not like this at all.

Nothing wrong with altcoins getting some time in the sun. Panic selling retail investors are selling bitcoin and buying alts so we get a little altcoin season. Meanwhile institutions are buying heavy into Bitcoin. It's only a matter of time until Bitcoin heads back over $40k and continues on upwards, at which time the scared retail investors will pile back into Bitcoin as well.

[ultrloa]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

The correction was necessary because the market was growing simply too fast, I understand that people get scared when the price goes down so quickly but it seems that the market is back to normal and I think we are going to see another attempt by the bulls to try to breach the 40k level once and for all and remain above it, however there is something that worries me, the bitcoin dominance has been going down, and while some may see this is a good thing because it may be an indication of an altcoin season I do not like this at all.

Your worried because it may cause the dump? Well don't be worried about those situation since if you see the bitcoin dominance go down it means the wealth of the traders has been shared to various altcoin and we can see now that the altcoin market is much good since many of them are pumping so good which many people tells that it's start of altcoin season. I believe this events cannot effect bitcoins so expect after this thing or even this season come up we can still see bitcoin climb back to $40k.

[STT]

Price is slowing down and the more moderate the correction the less likely it would seem to lead to a bigger correction.   It could be a completely boring declie of 40% from the peak but thats not the big negative most would fear, could be far less then that or some would say a slow small pullback suggests we go higher with no overall bear effect at all.   Indication at the moment is slowing fairly steady market, but we haven't received any bump or negative sentiment sell off from main markets so it remains untested imo

[btc_angela]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

The correction was necessary because the market was growing simply too fast, I understand that people get scared when the price goes down so quickly but it seems that the market is back to normal and I think we are going to see another attempt by the bulls to try to breach the 40k level once and for all and remain above it, however there is something that worries me, the bitcoin dominance has been going down, and while some may see this is a good thing because it may be an indication of an altcoin season I do not like this at all.

Nothing wrong with altcoins getting some time in the sun. Panic selling retail investors are selling bitcoin and buying alts so we get a little altcoin season. Meanwhile institutions are buying heavy into Bitcoin. It's only a matter of time until Bitcoin heads back over $40k and continues on upwards, at which time the scared retail investors will pile back into Bitcoin as well.

And I would say it's good to see some alt coins getting into a bull run as well, so that this market will remain healthy to some extend. We are still above the $1 trillion market cap and bitcoin 65%, so it slashes 5% at least and the money goes to altcoin.

But then again, there could be time that the altcoin investors would go back to bitcoin to push the price to $40k-$50k. Currently the price is stable along the $35k boundaries so we are all good.

[Maslate]

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Honestly, it's hard to answer this, ride with it? No, yeah, it's a no for me, bitcoin already hit a new ATH, and I think it will dump for sometime before it will start rising again, and seeing bitcoin still at over $30k, I think we can still see more correction to come.

The thing is it still stay at $30k now, had little swings but no significant price movement is happening. After the fall, bitcoin already struggle to come bake at $40k trading price, so probably you are right that it's due for a deeper correction and we might see it anytime soon.

but we haven't received any bump or negative sentiment sell off from main markets so it remains untested imo

This is what we needs to see in order to conclude that a huge correction is going to happen, until now there's no signs yet.
However, we can't be just complacent because as we are surprised to see this huge run, a huge correction might also happen without us seeing it coming.

[Baofeng]

I don't think this is a bearish signal, people just liquidated at the top and that's it. Besides at $30k a pop, bitcoin is still way ahead of the prediction at the start of 2021. We even have a thread wherein many predicted that the top price at end of 2020 is $16k, many voted for it. But look at the price today, it doubled what we have expected. So this is just a normal correction, a process that we need to undergo as this market is really volatile and unpredictable. So are still very bullish and a possible break out might happen next month.

[darewaller]

Nothing wrong with altcoins getting some time in the sun. Panic selling retail investors are selling bitcoin and buying alts so we get a little altcoin season. Meanwhile institutions are buying heavy into Bitcoin. It's only a matter of time until Bitcoin heads back over $40k and continues on upwards, at which time the scared retail investors will pile back into Bitcoin as well.

And I would say it's good to see some alt coins getting into a bull run as well, so that this market will remain healthy to some extend. We are still above the $1 trillion market cap and bitcoin 65%, so it slashes 5% at least and the money goes to altcoin.

But then again, there could be time that the altcoin investors would go back to bitcoin to push the price to $40k-$50k. Currently the price is stable along the $35k boundaries so we are all good.

Alts have been doing fine in fiat currency but they have been killed in the bitcoin drops lately, it was nice to see them recover a bit. Ethereum either reached or barely touched the all time high price for example, now it looks lower once again but it was at least there for a moment. I believe when alts start to go up, it usually means that bitcoin increase is stopping or slowing down, which is why I wasn't sure about the situation and if I should be happy about it.

In 2017 peak and afterwards when the price of bitcoin stayed or went low that meant alts went up, they all had their best periods during those times, for example December 2017 was peak of bitcoin but 13th of January was the peak of ethereum, it got higher thanks to bitcoin going lower, but after a while ethereum started to fall as well. That is why I am a bit scared if we are there right now.

[coin-investor]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

[darewaller]

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

What people should have learned during this period would have been DCA because that is how you saved yourself during 2018 as well. If you got in at peak 2017 and kept buying once every month until this month, you would have been rich, and if you got in during 2017 peak all-in and never bought again, you would have still doubled if you waited this long as well but it would have been harder to wait I understand that.

So long story short if you can buy right now, and it crashes? You could always go ahead and buy some more, dropped to 25k? Buy some more, dropped to 15k? Buy a lot more, dropped to 5k? Buy as much as you can afford. There is no reason not to buy right now, the only bad thing about current situation would be to not buy more and more in the future, that is irrelevant to you buying right now or not, because keep buying is a thing you should always do.

[PerfectCircle]

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

What people should have learned during this period would have been DCA because that is how you saved yourself during 2018 as well. If you got in at peak 2017 and kept buying once every month until this month, you would have been rich, and if you got in during 2017 peak all-in and never bought again, you would have still doubled if you waited this long as well but it would have been harder to wait I understand that.

So long story short if you can buy right now, and it crashes? You could always go ahead and buy some more, dropped to 25k? Buy some more, dropped to 15k? Buy a lot more, dropped to 5k? Buy as much as you can afford. There is no reason not to buy right now, the only bad thing about current situation would be to not buy more and more in the future, that is irrelevant to you buying right now or not, because keep buying is a thing you should always do.

A good advice indeed but only for those who are ready for long term holding, if you are someone who is just here to take advantage of the market and make some sharp ROI I would advice to be extremely careful, in such case I will only enter the market if I notice any recovery, we don't know when this bullrun will make a stop, it's certain that bear market will forever be here

[arwin100]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Make a quick profit so you don't have to worry anymore in case the past scenario happens again, people are worrying because the past scenario makes them lose a lot, have read a lot of stories of losing their savings because they invested on the 2017 all time high only to regret after the market crash, this is something investors are afraid to happen again, they are on wait and see and hoping this bull run is different from the last one.

This is more ideal thing to do rather than holding and worrying the risk beneath on doing it and this is advisable for newbie traders so that they can be trained to have a patience on certain movements and earn little by little from it. But I'm expecting that we will not get a the same track on what happen on last 2017-2018 since I really believe that the current achievements of bitcoin together with the entities of institutional investor for sure it will got a huge support and can never be dump more harder than we cannot imagine.

[rodskee]

I don't want to get overly dramatic about what's happened today, especially considering that the $32k level that we're at now was a new ATH just a week ago but when Bitcoin has dipped this much in previous years it has led to a prolonged bear market.

Do we think that this could happen now or should we just ride it out and expect a quick return to business as usual?

Sorry but i don't see any correlation at all on that matter ? and 32$k never become the ATH because we have seen 43k near after New Year and actually what we are looking at is the breaking of the last Barricade and that is 45,000$ .

What i see here is Corrections and attempt to Dump bitcoin price by manipulators , but their problem now is that there are institutional investors that hinders their motive , Not like 2017 that in 2018 they easily move the prices ups and downs while now they cannot.
Because real investors are not their clown here and seems that they are being over powered by truthful investors.