Price correction btc 6-12 months

[slaman29]

I am of the belief that bitcoin should be in a price correction next 6-12 months.
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My best guess is that we hit the bottom in 8,000 - 10,000 in 6-12 months. What do you think about this?

Bitcoin has never gone back to an old ATH once it has hit a new ATH. So when it hit 20k, it never went back to the previous one of around 1400, which I would say means we won't even see 20k anymore. Maybe very close to it, but not at it. But this is also because I don't think we're actually seeing a near ATH yet (not yet peak in 2021).

Once we confirm no more peak, then we can talk about how low we can correct.

[el kaka22]

I understand that some people are afraid and there is a line of thinking that "whatever happened in the past will happen again" for some people, but do not be worried that there are a lot more people investing money nowadays and that is why we will not let that happen. I get the logic, we are in a situation where we are doing quite well right now and that should probably continue for a while as well but you have seen the 2017 and seen that it went up a lot and then crashed to very low levels so you are assuming that the same could happen and you are scared that you will not be capable of profiting and you will lose money instead of win money like so many people did.

However at the end of the day we are living in a world where we are making much better decisions now in 2021, and those huge corporations buying bitcoin is a proof that we won't be going down that much anymore.

[Wysi]

I feel we are already in the correction phase from couple of weeks and we need to understand one thing that there is a huge difference between last bull run of 2017 and this current one. I don't think Bitcoin will go below $20k as there is very thin possibilities of bitcoin going below $20k in next 6 to 12 months, covid has had no impact on crypto market and we shouldn't be worried about it but I have witnessed increased adoption rate of bitcoin like start ups accepting payment in bitcoin which will only help bitcoin grow not do drop any further.

[Oasisman]

I feel we are already in the correction phase from couple of weeks and we need to understand one thing that there is a huge difference between last bull run of 2017 and this current one. I don't think Bitcoin will go below $20k as there is very thin possibilities of bitcoin going below $20k in next 6 to 12 months, covid has had no impact on crypto market and we shouldn't be worried about it but I have witnessed increased adoption rate of bitcoin like start ups accepting payment in bitcoin which will only help bitcoin grow not do drop any further.

Well, at this current rate most of us will always say Bitcoin might have the slightest chance of going back below the $20,000 level. I know institutional investors are still pouring out more money to invest with Bitcoin, and more than half of the news are still very bullish so we have still a lot of reasons for Bitcoin to stay at this current level or will increase more than the new ATH. But we should never forget how volatile Bitcoin is, everything may happen, though there's a huge difference between the 2017 and the 2020 bull season.

[ReiMomo]

I feel we are already in the correction phase from couple of weeks and we need to understand one thing that there is a huge difference between last bull run of 2017 and this current one. I don't think Bitcoin will go below $20k as there is very thin possibilities of bitcoin going below $20k in next 6 to 12 months, covid has had no impact on crypto market and we shouldn't be worried about it but I have witnessed increased adoption rate of bitcoin like start ups accepting payment in bitcoin which will only help bitcoin grow not do drop any further.

Well, at this current rate most of us will always say Bitcoin might have the slightest chance of going back below the $20,000 level. I know institutional investors are still pouring out more money to invest with Bitcoin, and more than half of the news are still very bullish so we have still a lot of reasons for Bitcoin to stay at this current level or will increase more than the new ATH. But we should never forget how volatile Bitcoin is, everything may happen, though there's a huge difference between the 2017 and the 2020 bull season.

It's totally different if you will compare the year 2017 the last bull run and now 2021, it was doubled the price that we never expected.
We are lucky enough that the bitcoin price increased as we expected and broke the previous price that was on the market, so if the market price repeats itself we should expect that there is a correction, but for now, there is no clear information where the bitcoin price headed at.

Let see and wait further if there is truly a correction. For now, enjoy the market as we have now the price and always prepared for what circumstances will happen.

[KTChampions]

I understand that some people are afraid and there is a line of thinking that "whatever happened in the past will happen again" for some people, but do not be worried that there are a lot more people investing money nowadays and that is why we will not let that happen. I get the logic, we are in a situation where we are doing quite well right now and that should probably continue for a while as well but you have seen the 2017 and seen that it went up a lot and then crashed to very low levels so you are assuming that the same could happen and you are scared that you will not be capable of profiting and you will lose money instead of win money like so many people did.

However at the end of the day we are living in a world where we are making much better decisions now in 2021, and those huge corporations buying bitcoin is a proof that we won't be going down that much anymore.

Overall, I agree with you that no one should look at history and expect it to repeat itself. Despite the difference of several years, the difference in situations is enormous. The crypto market has matured and is supported by large players who are interested in a smooth growth rather than a sharp collapse (although the latter would probably bring them more profit). But at the same time, do not think that any price is guaranteed. Bitcoin can fall as large as it can grow, I think experienced crypto enthusiasts know this.

[fadhilz123]

Same like you, I believe that bitcoin will be in price correction, but I'm don't know how deep the price drop will. For 8K maybe this is impossible because too deep, but if going down to 10K maybe this is possible although only less chance. But what you think if 2021 will be different, that the real holder will keep hold their bitcoin, will be a different story. So prepare anything

[philipma1957]

Same like you, I believe that bitcoin will be in price correction, but I'm don't know how deep the price drop will. For 8K maybe this is impossible because too deep, but if going down to 10K maybe this is possible although only less chance. But what you think if 2021 will be different, that the real holder will keep hold their bitcoin, will be a different story. So prepare anything

So do a huge short on margin of 10 x and get back to us when and if you do it.

I am planning on 75-100 k by dec 2021.

[freedomno1]

Considering all of these days this year have been in the Top 100 for Bitcoin there is a downside however as with every rally of Bitcoin the bottom is persistent at a higher level.

About even money that the market decides to test up again before going down will we see 2017 ATH be the bottom doubt it probably 25K.

Really depends how bored are people of Covid lockdowns and what else will they do hehe Gamestop or Doge lol.

[bitgov]

I stopped reading after "The main reason is again (like 2017)." Seriously, don't compare as if 2017 is 2021. This is years apart and there are a lot of changes that happened in between.

I'm going to ask you instead, was there PayPal in 2017? Was there Square in 2018? Was there Microstrategy, was there SkyBridge, etc all those years? These are just some factors which make me believe that 2021 is going to be a lot more explosive than all the previous years combined. Who knows, we might even hit 6 digits within the year?

I agree with everything you wrote and I also think that this is not the end of price increases on the cryptocurrency market. Not only that, I think this is just the beginning of the altseason.
I think, however, that it is not about the explosion in prices itself, but more about how long the bull market will last. I think that because of what you mentioned in your post, the bull market will be simply longer than the previous ones, which in my opinion were like pump & dump.

[jaberwock]

I am of the belief that bitcoin should be in a price correction next 6-12 months. The main reason is again (like 2017) that the market has had extremely high demand over a short period of time. This may be partly due to the fact that many people have to place their cash elsewhere, than in the bank, due to the very low interest rates on deposits.

Those are what corrections called, dropping down and recovering. Normally we have seen so many crashes and bad things after a big increase that people are still shocked about recovering after a fall, but this is what correction actually is and that's what  going on right now. People think that when you end up dropping, you drop even further, and then drop some more, they are expecting under 10k prices once again after each big drop.

However corrections are things where you go down 10-20% range and then recover most of it back and steady and then either go even higher or have another correction. We had this during 15k price levels, we had this MANY times between 17k-20k remember that? Only few months ago we went to 19.2k-19.6k levels and dropped under 18k about 5 times, but recovered each time, look at us right now, over 33k already. So, correction is literally what we are having right now.

[Fundamentals Of]

I stopped reading after "The main reason is again (like 2017)." Seriously, don't compare as if 2017 is 2021. This is years apart and there are a lot of changes that happened in between.

I'm going to ask you instead, was there PayPal in 2017? Was there Square in 2018? Was there Microstrategy, was there SkyBridge, etc all those years? These are just some factors which make me believe that 2021 is going to be a lot more explosive than all the previous years combined. Who knows, we might even hit 6 digits within the year?

I agree with everything you wrote and I also think that this is not the end of price increases on the cryptocurrency market. Not only that, I think this is just the beginning of the altseason.
I think, however, that it is not about the explosion in prices itself, but more about how long the bull market will last. I think that because of what you mentioned in your post, the bull market will be simply longer than the previous ones, which in my opinion were like pump & dump.

In all fairness, Bitcoin's price was never pumped and dumped. I'd like to believe that everything has been organic with Bitcoin. But the previous years were all but Bitcoin thriving with individual believers and a handful of institutions which are like swimming against the current. Most institutions were probably not interested with Bitcoin. They're even against Bitcoin. And we all know where the money in the world is. The biggest slice belongs to these institutions.

But since last year, institutions are now jumping into the bandwagon, new and big ones. And there are a lot to come very soon. I even think that Elon is already getting into Bitcoin. So this is nothing like 2017. That was old history of Bitcoin. It is impossible Bitcoin is going to be stuck in that pattern.

[crwth]

There could be a significant correction for sure, knowing that the span of increase with the price of BTC is significantly too fast. I always have read in some trading books that the quicker you rise, the quicker you fall. Maybe in a few months, it would recall back. What I'm thinking of is, should I cash-out some of my BTC before it happens? I might regret it again because I cashed out around $22k back then but still. It makes someone wonder what to do within this timeframe.

[bitbunnny]

I feel we are already in the correction phase from couple of weeks and we need to understand one thing that there is a huge difference between last bull run of 2017 and this current one. I don't think Bitcoin will go below $20k as there is very thin possibilities of bitcoin going below $20k in next 6 to 12 months, covid has had no impact on crypto market and we shouldn't be worried about it but I have witnessed increased adoption rate of bitcoin like start ups accepting payment in bitcoin which will only help bitcoin grow not do drop any further.

To my opinion we are currently in some more or less stable phase with smaller fluctuations. Intensive correction period is behind us but that doesn't mean it will not happen again
However, I don't expect some bigger dump in period that follows and I don't think that Bitcoin price will return to level that was before pump.
Some think that this whole situation with Covid and especially with vaccine also influenced Bitcoin price in positive way but I don't think there is some direct significant impact.

[Ridwan Fauzi]

Bitcoin has its own way to move, we can't predict well either up and fall. After bitcoin price up double from its previous all time high there are so many investor (including instutional investor) who interested to try investing in bitcoin and this thing is the factor why bitcoin price up until touch $42.000 as the current all time high.

As for the correction issue, I don't think it will fall to $10.000 and below although it can happen if many bad things happen, but to me it will never happen. The strong support now is $20.000 and there will be many investor who will put an entry in this area. Like has happened in a few days ago when bitcoin price fallen to $30.000 and we have seen a strong increase at that area, it means there will be many people who will buy bitcoin at the low price.

[Jating]

There could be a significant correction for sure, knowing that the span of increase with the price of BTC is significantly too fast. I always have read in some trading books that the quicker you rise, the quicker you fall. Maybe in a few months, it would recall back. What I'm thinking of is, should I cash-out some of my BTC before it happens? I might regret it again because I cashed out around $22k back then but still. It makes someone wonder what to do within this timeframe.

Correction had happen already, from $41k-$28k, and that is huge already so I don't think that we can fall even deep. Right now the price seems to be on a good bounce back again, $36k, so it has broken the resistance around $35k which is a big wall.

No need to cash out though, as we might go to $40k again if not then we are going to hover around $36k-$38k. So let the market flow on it's normal course and just be a HODLer.

[crwth]

Correction had happen already, from $41k-$28k, and that is huge already so I don't think that we can fall even deep. Right now the price seems to be on a good bounce back again, $36k, so it has broken the resistance around $35k which is a big wall.

We are currently in the trading range though. Hopefully, the bulls will still win on this one. If not, let's just be prepared for it by buying more.

No need to cash out though, as we might go to $40k again if not then we are going to hover around $36k-$38k. So let the market flow on it's normal course and just be a HODLer.

I still am bullish biased that's why I didn't cash-out anything but from my trading account which is in USD only. I'm thinking of continuously investing more with BTC though. It's definitely ideal.

[Reid]

I doubt we could use history from now on.
A lot of changes had happened.
Before there was no Paypal to buy bitcoin that easily.
Also, there are popular names that are joining the crypto industry. So demands could get higher anytime and the volatility will stay.
IMO, the correction already happened and we have a new bottom. I hope.

[tygeade]

Bitcoin could have a correction to under 20k in the future but that doesn't mean that we are going to see that easily, sure it "could" happen but this idea that price will definitely go down and there is nothing we can do about it is wrong and it should be fought off against.

Just like how bitcoin could be under 20k tomorrow, it could also be 50k+ tomorrow, these are all possible, it could be not tomorrow but some other time but the possibility of bitcoin being under 20k and over 50k are equally the same and that is why we should not think in pessimistic tone, we should be careful about a drop and set our stop loss points just in case but that is just a way of guaranteeing that we are not going to lose too much whereas we should also have a plan to sell it when it is over 50k as well. I say put a stop loss at around 27k level and also have a sell order at 50k so that you will be ready in either case.

[RealMalatesta]

Correction had happen already, from $41k-$28k, and that is huge already so I don't think that we can fall even deep. Right now the price seems to be on a good bounce back again, $36k, so it has broken the resistance around $35k which is a big wall.

No need to cash out though, as we might go to $40k again if not then we are going to hover around $36k-$38k. So let the market flow on it's normal course and just be a HODLer.

People are not really realizing what that correction was and they are still looking for a new one and that gives me a bit of a hope. That 41k to 28k was the real correction like you said and I agree with that 100% however people still think that it will be like 2018 where we fall to 3k price when in fact we are not going to be like that at all, that is the same thing as what happened nobody should be worried about another 3k. The fall from 41k to 28k is already over 30% fall anyway, and 30% fall is a HUUGE fall so you should be basically upset that we went down that low, considering a 80% fall is just being pessimistic and nothing else. I personally think we will not go under 20k for a very long time.