Don't be surprise to see price of btc drop this week

[palle11]

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.





With this happening last week and market situation for the first day of the week and month, we may look the downside to $31,523

[Bitcoin577]

Bitcoin correction already done when it dunps down from 40k to 30k. Now its Time to gain some momentum and bullish. Feb will be a great pump for Btc. Wave will up. Soon pump will be seen

[Question123]

Dropping price of the bitcoin is normal and is part of pumping huge value so if the price dump next week it's better to buy more and hold and relax or no panic because you lose the opportunity. We have different see to the possible value in the next few years but if you think the price drops it's up to you but for me I saw the good movement will happen in this weeks and next few months comes.

[Issa56]

Have been studying bitcoin movement since beginning of January have been studying the chart and I think Bitcoin might still dump more the first dump was from $40k to $31k but I think Bitcoin might still dump more I believe bitcoin price will definitely be below $30k before it will pump again.

[oHnK]

If you look at the chart of the decline in bitcoin prices, it is normal, this is indeed a harvest day for traders, the average day-to-day rise and fall of bitcoin prices is approximately 10%. I have taken advantage of this close-up speculation several times. Buy low and sell at the top, the current rhythm of bitcoin prices is quite predictable, but if you look at it over a longer period of time, investing in Bitcoin will also remain positive for many reasons.

[kentrolla]

I would definitely make it as an opportunity and invest again yes I did it twice and make some good profit, when the price goes down people sell it in panic.

Ups and downs are the nature of market and this decline will surely give momentum in couple of days big whales are playing a major at this point of time when the price goes down they jump and buy if the market starts trending they sell it which means short-term investment has a tremendous impact on our holdings.

[Rishabh riyz]

well if we observe the value of BTC over 5 years we can see that

• Dec 2017 - $19,650 highest in year and then in 2018 Jan value dropped to $8K
• Jan2018-$3.8K 

• Dec 2019 - $7000 and the increased to $8.4K in Jan2020
• Dec 2020 -$32000 and then went to ATH $40grands and the again back to $33000

one can easily understand the pattern here .

[zanezane]

well if we observe the value of BTC over 5 years we can see that

• Dec 2017 - $19,650 highest in year and then in 2018 Jan value dropped to $8K
• Jan2018-$3.8K 

• Dec 2019 - $7000 and the increased to $8.4K in Jan2020
• Dec 2020 -$32000 and then went to ATH $40grands and the again back to $33000

one can easily understand the pattern here .

Back in 2017-2018, there was little to no institutional investors but right now it is different, the pattern at 2020-2021 is a little bit different, the peak of the prices was around the 15 of January of 2018 and then the prices dumped real hard but now the prices are not dumping that hard, there are ups and downs on the occasion but nothing too big as the 2018 dump. Back in December, I thought that the price pattern was going to be the same as 2018 but I was wrong, the halving did help with my wrongful predictions that the pattern will be repeated but I didn't factor in the recent increase in institutional and individual investors alike, not to mention that the pandemic displaced workers so they have to find some way to earn money and maybe some of them found bitcoin recently.

[Poker Player]

well if we observe the value of BTC over 5 years we can see that

• Dec 2017 - $19,650 highest in year and then in 2018 Jan value dropped to $8K
• Jan2018-$3.8K 

• Dec 2019 - $7000 and the increased to $8.4K in Jan2020
• Dec 2020 -$32000 and then went to ATH $40grands and the again back to $33000

one can easily understand the pattern here .

The problem is that numerical patters can be followed with infinite sequences, so we cannot conclude anything.

I hope the OP puts his money where his mouth is and bets short against bitcoin. For my part, I am not too concerned as I am going long.

[Lucius]

...the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.

Is the difference in price of just $4000 something worth discussing? We have had sharp declines and jumps for 20 days now, so even though some find it difficult to accept these differences - you have to get used to the fact that the market is very dynamic and Bitcoin is very volatile. It is quite normal for us to wake up tomorrow and the price will be over $40k, just as it would not be a surprise if that price is say $25k.

I don't understand why you call it "major correction", unless I misunderstood you, and you actually mean that the price of 1 BTC will only be $4000?


palle11, if it is possible to adjust the image size, some users have very slow or limited internet and such large images make it difficult for them to browse the forum.

Code:

[img width=350 height=300]https://i.imgur.com/wSvgi5R.png[/img]

[nelson4lov]

Bitcoin correction already done when it dumps down from 40k to 30k. Now its Time to gain some momentum and bullish. Feb will be a great pump for Btc. Wave will up. Soon pump will be seen

Historically, the month of February has always been a bad one of the crypto market. Prices usually plummet whenever it gets to this time of the year. In 2018, Price crashed from 19.7k high and ranged between $4K to $10K. We saw something similar in Feb 2020. The market was not volatile; only a few percentage moves here and there before the sell-offs in March. Historic events should be put into consideration as history tends to repeat itself.

[freedomgo]

Even if it will drop $10,000, I would still not be surprised because I've seen this many times.
We have enjoyed enough already, time for the market to correct and $4000 is not a major correction for me. |||

Bitcoin could drop below $30k or $20k, but everything should be called as normal, as FUD and FOMO are normal in the market that we belong.

[xcaret]

For 40 years now , I have bought stocks in many different companies .
 I still look to see what the anylsts are thinking . Why bother to dig through all the financial stuff when they can do it for me .
Usually I choose a big name Like BRK.B or Bell , but in my searches I keep finding different experts ,even on the same day, but different websites , in 100% contradiction of which stock will be winners and which ones losers  .
So with that in mind I have zero confidence in any prediction as to BTC's future value .   

[Renampun]

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.

...

With this happening last week and market situation for the first day of the week and month, we may look the downside to $31,523

*market correction! of course, I'm used to it...
The last few weeks it's been happening and is a good thing to take advantage of. traders are sure to be happy with market corrections. suppose it is buying Bitcoin at a discount. *btw, please resize your image, it's very annoying

[shield132]

I am surprised that it had a 4% rise in the last 24 hour. I was expecting the price to go down and play between 25-30K and then go down and become 15K USD. I converted my bitcoins into USD and right now I'm waiting for it to fall, sell them when price was 39K, then did some trades when it was playing between 34-38K but don't want to play right now and mess with the things. I plan to wait for good loss or for a good chance where I'll be confident with the price changes to trade at a certain timeframe.

Btw why do you think that according to that chart price will fall? This chart has nothing to do with the price and its rotation isn't the deal. I don't know if you or anyone had success with that but personally I look at this like what our mind wants to imagine and how it wants to continue the unwritten future.

[bitbunnny]

I'm not sure what that actually means that Bitcoin price will drop this week. Is this an announcement of some serious dump? Because corrections happen all the time and volatility is part of normal Bitcoin cycle.
Although many were thrilled to see such high Bitcoin price rise many are also eager to see some more significant correction to be able to afford to buy some.
So, I expect some slight corrections but so far haven't seen any analysis that would point to some significant dump in the next short period of time.

[ReiMomo]

If there is a correction, I believed that it will not go far beyond $20k. It will always resist as per see, bitcoin has good investors, these are big names of industries and the institutional investors and I think that is the reason why it has a recent pump up in the market. Another is bitcoin was not a pump and dump, it is had, real investors.

However, how did you know that there is a massive correction ahead or we still don't know what will happen. Just listen to the news and it will I guess easily draw a conclusion.

[ChrisPop]

According to my analysis from a medium timeframe perspective Bitcoin is staying right at a converging support between some EMAs, horizontals and a broken channel/wedge (however you want to call it). If the price breaks below $33k-$33.1k I'd look for a down move to around $31k, but the daily looks quite constructive. I won't be surprised if we make another sweep to the lows, but the probability is on the upside in my opinion.

[Questat]

we may look the downside to $31,523

Thread bookmarked-

I heard it first here, let's see if bitcoin would really dump, at the moment it still looks bullish and after a pump recently it was not able to rise back at $37k again, so if bitcoin dump $30k, it's very significant and might cause further dump again.

[KTChampions]

well if we observe the value of BTC over 5 years we can see that

• Dec 2017 - $19,650 highest in year and then in 2018 Jan value dropped to $8K
• Jan2018-$3.8K 

• Dec 2019 - $7000 and the increased to $8.4K in Jan2020
• Dec 2020 -$32000 and then went to ATH $40grands and the again back to $33000

one can easily understand the pattern here .

I hope time will pass and you will come back here to tell how much you have earned from this pattern 
Do you really believe that the pattern/analogy found in history should be repeated in the future? In my opinion, this is a dangerous delusion and I would not risk my money to verify its truth.