Where the correction ?

[The Sceptical Chymist]

i just invested all of my money into crypto on the middle of november

Yikes.  I wish you all the luck in the world, but do you think it's a good idea to go all-in when something is at or near its all-time high?  Seems to me that that's how a lot of people lose money, i.e., by buying high and selling low instead of the opposite.  A better time to buy would have been right when COVID-19 was turning into a global pandemic and bitcoin had tanked.  That was around March-April of last year IIRC.

i even got 12 X ROI just for hold crypto like EGLD,INJ,CAKE,XVS

That's fortunate for you, although I have no idea what those coins are, and I bet they're a lot more risky than bitcoin itself.  Just be careful with obscure altcoins.  True, they can yield excellent short-term profits, but if you end up holding onto them for too long you could get burned.

Not sure when a major correction is coming next, but we did have one last year as I said above.  Ever since then bitcoin (and some altcoins) have been on a major tear--and there have been dips, so I guess you could consider those to be minor corrections.  That's healthy and I don't mind those at all.  It would actually be much worse if bitcoin kept going straight up for months.  If it were to do that, I'd be scared.

[jaysabi]

The Elon Musk Bitcoin purchase was just the beginning, we have yet to see the full capacity of Bitcoin's value based on the demand from large scale individual investors/institution. As far as the correction is concerned, Btc is somehow having a slight correction when It went $40,000 for the first time, It corrected around $30,000 region after a few hours. Now, Bitcoin has reached $58,000 and is currently corrected. So, yeah everything that goes up must go down at one point, but we don't expect a sharp drop at this current rate.

Think about top 100 companies in the world moving their reserve cash into bitcoin, can you imagine what that would look like? All companies that have cash in their bank account doing nothing or collecting like 1% interest rate, would be willing to put their money into bitcoin, we are talking about at least 100+ billion dollars here, and all those wall street companies like JP Morgans and Bank of Americas and many others like that add a crypto section to their investments as well? That is at least another 50+ billion combined.

We have moved so much with just 1.5 billion dollar addition, if we one day reach to the level I am talking about, it is simple impossible for bitcoin to be under 500k, it would really happen. Could this happen anytime soon? Not likely, it will definitely take a long time, but in a decade we could actually reach to that level so buying bitcoin right now could still be considered cheap.

People keep saying this like it's likely and it just isn't. You may look at bitcoin and think there's no way it's not going to $100k, but taking that as a given is such an extreme viewpoint. Companies aren't in business to gamble, and bitcoin is a speculative investment. Most businesses don't sit on mountains of cash, so (i) their inflation risk is limited and (ii) what cash they have they need it to maintain a stable value, not maybe it's up 10% or down 10% on any given day. There's is absolutely no question that the dollar is more stable than bitcoin, and that's why it's unlikely for businesses to adopt it as a reserve in any meaningful way.

Large investors who are put off by a weak dollar are flocking towards bitcoin, despite it lacking inherent fundamentals. Unlike gold, bitcoin is extremely volatile. I don’t think bitcoin can replace gold as an inflation hedge," he said.Another indicator that is flashing red is the bitcoin-gold ratio, which has risen from the levels of 1.1 to 15 in recent months. “Since both gold and bitcoin have finite supply, the bitcoin-gold ratio gives us a sense about which of the two is overvalued.

Large investors are not "flocking" to bitcoin. Statistically, the absolute number of investors and absolute number of dollars going into bitcoin from "large investors" is minuscule compared to the overall wealth of these investors. Even trying to frame your argument like this shows how extreme your views are.

[tbterryboy]

to be honest , i just invested all of my money into crypto on the middle of november , as we see now , everything go green , i even got 12 X ROI just for hold crypto like EGLD,INJ,CAKE,XVS, the question , where the correction , it is the party will be over soon ? or it will be bigger since as we know recently big company like TESLA even accepted bitcoin , or its just fake bull ? if yes , i cant imagine how big the correction will happen.

I don’t know about this, but it has been long that the price kept going up and has been on $50,000 and $60,000, if there should be any correction that should be bring the price to anything less than what we have right now, then I think it should have happened since, but rather the market has been increasing on steady, so I am not sure if there is going to be any correction that would take us to a price that is less than this.

I am saying this based on what we have seen before, but this time might be different and we are not going to see that repeat itself. Right now the price has just increased from $60,000 of yesterday to $63,200 and still on the green.

[trigger1975]

I don't think it's a fake bull, unlike the one in 2017.

What do you mean by "fake bull"?  There was demand and it was a bull market.  Later it was speculative action and lots of FOMO.  Same this time with some more institutional investors.  But every bull market will end.  Always.  It'll correct and probably get back again on a rising path.  But how deep it'll correct or when it'll happen: nobody knows.  One thing is for sure: it will have a correction.

[GeorgeJohn]

Investment is like business from my understanding because it's something that involves risk, from my concept the book titled entrepreneurship let us know that everything related to life involves risk, most especially investment, now relating it to Bitcoin, Bitcoin investment is something that involves profit and gain, the chances to be million in bitcoin investment there and the chances of becoming poor is also there due to loss that involves, so it's better invest in Bitcoin if the capital is there.

[LUCKMCFLY]

According opinion of Marcus Swanepoel who is the founder of the London-based cryptocurrency firm Luno says:

“There’s still a bit of distrust in the industry and I think having a company of that size be public is going to help a lot of people realize that this is not just an asset class to take seriously but also a business to take seriously.”

Source: https://zycrypto.com/bitcoin-bulls-propel-more-upside-breakout-as-watershed-event-for-the-crypto-industry-arrives/

An eventual correction is not ruled out, it may be very large or perhaps a pull back correction to continue pushing the price to a new ATH, we just have to take into account that the gains that the Bitcoin rally has caused in Microestrategy earning more than 4.7 of the net investment of the same, this makes a very good impression on this institution, if they decide to re-invest it is likely that it could happen after the first correction, it could be at any time.

It is likely that the correction is not so radical, however it is mere speculation, today Coinbase is listed on Wall Stret, this can also produce a good bullish rally of Bitcoin, everything is in the possibilities.