Despite six months of rising Bitcoin prices, Peter Brent says up to $ 50,000 cor

[Ridwan Fauzi]

It sounds reasonable since the bitcoin price movement just make a sideaway market in a few days ago. Whilst, we have seen some goods information came like stimulus and tesla who accept bitcoin as a payment system and they will not cash for each costumer who buy their item using bitcoin.

So, technically I have a prediction that the current sideaway market will just make bitcoin meet a correction. After that, we will see a huge increase when many investors think that its price has touched a lower price (yeah can be said $50.000 as its lower price) and tge $60.000 barrier will be passed easily.

[AndySt]

So, technically I have a prediction that the current sideaway market will just make bitcoin meet a correction. After that, we will see a huge increase when many investors think that its price has touched a lower price (yeah can be said $50.000 as its lower price) and tge $60.000 barrier will be passed easily.

Just in overcoming the price of $ 60,000, there is nothing surprising and very difficult, but how the price fluctuations will continue to occur already raises questions and I am not sure about the subsequent rapid price growth. The most important thing is that during the subsequent correction, the price should stay around $ 55,000 or $ 50,000 at the very least. I think that some events in the bitcoin price will still happen for a couple of months, but I have big doubts that there will be a big price rise in the summer.

[NeuroticFish]

Who does really rely with someone calls like these?

I expect that newbies do pay attention to this kind of speculations, especially if it's from people with big number of followers.
Not necessarily as exact value, more like a trend/direction/fear-greed factor.

[cryptomaniac_xxx]

It sounds reasonable since the bitcoin price movement just make a sideaway market in a few days ago. Whilst, we have seen some goods information came like stimulus and tesla who accept bitcoin as a payment system and they will not cash for each costumer who buy their item using bitcoin.

It again went on a sideway pattern after a failed break out to $60k.

So, technically I have a prediction that the current sideaway market will just make bitcoin meet a correction. After that, we will see a huge increase when many investors think that its price has touched a lower price (yeah can be said $50.000 as its lower price) and tge $60.000 barrier will be passed easily.

If the price goes on a correction and sideways, we really on technicals, because we are going to look for either a break out or break down. So let's see how this pattern will play out, hoping though for another break out run to $60k again.

[tippytoes]

Who does really rely with someone calls like these?

I expect that newbies do pay attention to this kind of speculations, especially if it's from people with big number of followers.
Not necessarily as exact value, more like a trend/direction/fear-greed factor.

Those newbies in crypto market. Because a lot of them are looking for someone that will give them something to rely on with respect to their decisions. Unfortunately, they are just ordinary persons that speculate on this market. What they say to the public, may or may not happen. It is just their mere prediction for potential future of the market. Even if they have large following, it doesn't mean that their speculations will be accurate. But I agree with the idea, that there will be correction at some point. But this correction will not be the same as before, the stronghold is different today because of these financial institutions and big companies that are already into crypto.

[NeuroticFish]

Those newbies in crypto market. Because a lot of them are looking for someone that will give them something to rely on with respect to their decisions. Unfortunately, they are just ordinary persons that speculate on this market. What they say to the public, may or may not happen. It is just their mere prediction for potential future of the market. Even if they have large following, it doesn't mean that their speculations will be accurate. But I agree with the idea, that there will be correction at some point. But this correction will not be the same as before, the stronghold is different today because of these financial institutions and big companies that are already into crypto.

Indeed. My guess is that those are greedier than us and have way less knowledge than us. And instead of patiently read/watch and learn, they rely on this and that prediction to invest spend lose their money and then turn angry against Bitcoin because something/somebody else has to be responsible for their greed, lack of knowledge and .. foolishness. And instead of getting more enemies, we better trigger as many alarms as we can.

And indeed. Corrections do happen. New ATHs may come too. The limited supply should have that effect, since the demand is on a rise.

[tygeade]

Nobody can deny that bitcoin may have a drop of 50k in the future, that could happen, however most of the bitcoin bulls just do not think that it will happen now. For example if we are at 1250000 that's 1.25 million dollars, a 50k drop is normal right? Well, I am not saying the only 50k drop will happen when we reach that high, but I just think we will be a lot higher than the current price before we see that. Right now a 50k drop would put us under 10k, and I do not think that we will ever see under 20k ever again.

Some "financial experts" will keep talking about how bitcoin is bad, and they never end and they always keep talking bad about bitcoin, they were around when it was under 100 dollars, they were around when it was 10k dollars, and they are now around when it is 60k+ dollars as well, nothing really changes, they will keep saying the same when it is a million dollars as well.

[fullhdpixel]

My guess is that those are greedier than us and have way less knowledge than us. And instead of patiently read/watch and learn, they rely on this and that prediction to invest spend lose their money and then turn angry against Bitcoin because something/somebody else has to be responsible for their greed, lack of knowledge and .. foolishness. And instead of getting more enemies, we better trigger as many alarms as we can.

And indeed. Corrections do happen. New ATHs may come too. The limited supply should have that effect, since the demand is on a rise.

Corrections will always happen, it happened in all throughout the history in every single asset, nothing goes up forever, as long as it is not a bubble it is just healthy and corrections are a proof that it is not a bubble. There will always be some people who will say things like "bitcoin will be under 1k again" and on the other side "will bitcoin be a billion dollars?" as well, both of those people are wrong but for some reason they get a lot of people interested in what they have to say.

There are tons of people who claim bitcoin will go down, and they are famous finance people who talk about this to public as well, and all news websites publish it like he knows what he is talking about, and even on the opposite side people like Elon talks about how they will plant doge to literal moon, and people see that as fun as well. I think both sides should calm down and talk a bit more realistic but realistic doesn't sell news (or get clicks).

[STT]

He's predicting a strong bull run, but only after a very strong correction.

I wouldnt go with a fixed nominal figure, it could be the correction is harsh but with alot of volume its being bought into hence no giant price fall.  50% rather then 50k would be a big move but its not really incorrect that a large move might correct to an even greater high later.
  Theres nothing to hint this especially now, we did get a recent high which is lower then previously but its not done anything to confirm price movement downwards.   Usually weakness is met with some buying and we continue upwards.   I think dollar itself is altered and that then changes patterns in BTC buying, maybe a change in easy money flow like a river altering course might cause the dramatic move that leads to a correction.

[bitgolden]

Given that Bitcoin is in the midst of confusing acceptance by institutions and traders, it may be argued that this time things are different. However, Peter Brent believes that Bitcoin can still see a "correction of up to $ 50,000"

Continuous bull run of six months must be a good sign for extension of current trend but comparing it with previous such scenario is not making any sense. Testing $50k from the current level (~57k) is highly expected one as 5 to 10% drops are nothing these days in crypto space. I believe an up coming correction and coincidence with previous charts may occur in coming weeks still I expect this April month also will leave a green candle to mark seven consecutive months of bull run.

I mean that even we will be experiencing a correction, a quick bounce back will be highly possible. Paypal's crypto payment integration and upcoming coinbase's IPO are few positive triggers we are having right now to hold the market into positive trends.

[Jating]

Those newbies in crypto market. Because a lot of them are looking for someone that will give them something to rely on with respect to their decisions. Unfortunately, they are just ordinary persons that speculate on this market. What they say to the public, may or may not happen. It is just their mere prediction for potential future of the market. Even if they have large following, it doesn't mean that their speculations will be accurate. But I agree with the idea, that there will be correction at some point. But this correction will not be the same as before, the stronghold is different today because of these financial institutions and big companies that are already into crypto.

Indeed. My guess is that those are greedier than us and have way less knowledge than us. And instead of patiently read/watch and learn, they rely on this and that prediction to invest spend lose their money and then turn angry against Bitcoin because something/somebody else has to be responsible for their greed, lack of knowledge and .. foolishness. And instead of getting more enemies, we better trigger as many alarms as we can.

Yes, it's going to be cyclical just to be fair, how many newbies who bought bitcoin during the top in 2017? All signs are pointing that we are in the bubble, and yet they are irrational and probably influence by so called experts to invest. And then get REKT, bitch around the community and blaming everyone but themselves. But for sure they have comeback in the market, with their new 'experience' on investing. But then again, we will have a new set of newbie investors again in this bull run.

And indeed. Corrections do happen. New ATHs may come too. The limited supply should have that effect, since the demand is on a rise.

Yep, this is normal,  new ATH comes will a lot of bumps along the way, and the supply is thinning because of institutions buying at a rapid phase, so demand goes up, pushing the price even more in the future.

[doomloop]

Corrections will always happen, it happened in all throughout the history in every single asset, nothing goes up forever, as long as it is not a bubble it is just healthy and corrections are a proof that it is not a bubble. There will always be some people who will say things like "bitcoin will be under 1k again" and on the other side "will bitcoin be a billion dollars?" as well, both of those people are wrong but for some reason they get a lot of people interested in what they have to say.

There are tons of people who claim bitcoin will go down, and they are famous finance people who talk about this to public as well, and all news websites publish it like he knows what he is talking about, and even on the opposite side people like Elon talks about how they will plant doge to literal moon, and people see that as fun as well. I think both sides should calm down and talk a bit more realistic but realistic doesn't sell news (or get clicks).

Obviously correction was a scary part for many, but this steady increase should probably give some people some ideas. I wasn't scared of this because of my experience, however there will be a fall where it will scare me as well, no matter how veteran you are, unless you are rock solid not moving for decades type of investor, some falls will definitely scare you.

So, maybe this fall wasn't it, I didn't believed it to be neither, but after we break over 60k, and after the price reaches a point where it will not fall anymore, I think there will be a moment where it will fall so much that we may see another 50% big fall again. I am not saying it will happen today or tomorrow, maybe it will take 6 months before we see a huge fall, but I am 100% sure it will happen one day once again.

[South Park]

I'm expecting a correction as well, look at the market now, it's so bulish and bitcoin started to have some kind of price stagnant, if its still bullish, bitcoin coul have go over $70k after it break the $60k, it seems like the big barrier is in the $60k + level and we will correct and we might witness a big dump.

I know there are investors who does not believe that correction will happen anytime soon but this is just based on my observation also and based on the past trends. No one can predict but at least we are openg for bearish possibilities.

We know that a correction or even a crash is coming however most people are remembering what happened during 2017 and think we are going to see an exact repetition of the conditions of the market we saw back then, but this is not true, despite the intense FUD this market is being subjected the price is only experiencing a minor correction and as long as that is the case and we remain close to the previous ATH there is still a chance the price of bitcoin could reach new heights during the next weeks.

[newwest]

2020 for me has being a year of change in terms of crypto is concerned. Instutions started realizing its potential and in order to hedge their positions against the currencies they have stared adopting it and buying in bulk. So this gives a ample of chance for the investors to make money as the rise will happen as on falling state many Instutions will be ready to catch that at lower levels leading to price push back happen.

[Hamphser]

Corrections will always happen, it happened in all throughout the history in every single asset, nothing goes up forever, as long as it is not a bubble it is just healthy and corrections are a proof that it is not a bubble. There will always be some people who will say things like "bitcoin will be under 1k again" and on the other side "will bitcoin be a billion dollars?" as well, both of those people are wrong but for some reason they get a lot of people interested in what they have to say.

There are tons of people who claim bitcoin will go down, and they are famous finance people who talk about this to public as well, and all news websites publish it like he knows what he is talking about, and even on the opposite side people like Elon talks about how they will plant doge to literal moon, and people see that as fun as well. I think both sides should calm down and talk a bit more realistic but realistic doesn't sell news (or get clicks).

Obviously correction was a scary part for many, but this steady increase should probably give some people some ideas. I wasn't scared of this because of my experience, however there will be a fall where it will scare me as well, no matter how veteran you are, unless you are rock solid not moving for decades type of investor, some falls will definitely scare you.

So, maybe this fall wasn't it, I didn't believed it to be neither, but after we break over 60k, and after the price reaches a point where it will not fall anymore, I think there will be a moment where it will fall so much that we may see another 50% big fall again. I am not saying it will happen today or tomorrow, maybe it will take 6 months before we see a huge fall, but I am 100% sure it will happen one day once again.

Once you do gain experience or simply does have already the idea on how this market works then for sure you wont really be easily shook with these kind of scenarios because you are already fully aware
on how this market moves or works.

Correction is inevitable and crashing market is part of it specially on this market where volatility percentage is way too high compared to traditional markets.

Speculations can be seen everywhere because this is a free market then you would be expecting those numbers.

[Maslate]

I'm expecting a correction as well, look at the market now, it's so bulish and bitcoin started to have some kind of price stagnant, if its still bullish, bitcoin coul have go over $70k after it break the $60k, it seems like the big barrier is in the $60k + level and we will correct and we might witness a big dump.

I know there are investors who does not believe that correction will happen anytime soon but this is just based on my observation also and based on the past trends. No one can predict but at least we are openg for bearish possibilities.

We know that a correction or even a crash is coming however most people are remembering what happened during 2017 and think we are going to see an exact repetition of the conditions of the market we saw back then, but this is not true, despite the intense FUD this market is being subjected the price is only experiencing a minor correction and as long as that is the case and we remain close to the previous ATH there is still a chance the price of bitcoin could reach new heights during the next weeks.

Maybe the timing of correction will not be the same as in 2018 but I believe the correct will come and it could be heavier than the previous. So anytime it could happen therefore we should be ready with it and as an investor, it's alright to think that the market is currently bullish but we should always be realistic that what goes up must come down, that's the saying that always happen in the crypto space.

[pixie85]

From what I see... I would not rely much on this guy's predictions
He's just following the trend and adjusting his expectations by that.
Good call with the newer article, @tinopener

Who does really rely with someone calls like these? Every person does have its own and this isn't something different with those generic speculations that can really be seen around.

with that newer article had posted and such change of views then its already expected for these people to change up their minds basing on the situation they are currently seeing.

$50k correction is somewhat realistic compared into those going back to $10k calls earlier which it typically nonsense at all.We cant really just go back on that low.

Maybe by 50000 correction he means a correction to 50000? that would be somewhat realistic since we had that in the end of March after the second ATH. Now we could go towards a third big ATH of this bull market. Maybe 65 thousand?

10 thousand is not really a realistic price because we already went over the last ATH of 20 thousand twice in the last 5 years. In 2013 we reached 3000 and then a new ath of 20 thousand. A correction from that 2nd ATH never went down to the previous ATH.

I don't think that we'll go below 20 thousand even if we have a strong correction.

[STT]

Its hard to envision 10k because its requiring so much supply but its possible just whats the event to trigger this especially.   Certainly its not showing as a possibility right now, a normal correction is something like 50% off which is harsh enough to say I have no bias in this question just some things do become increasingly unlikely.



bit of a bullish rise there, above 2 day average and weekly overhead.

A more negative take mirror of this recent action would have us back to 53k.   We'd remain still bullish overall at that point, a real correction requires some overall break in multiple places.

[Timelord2067]

It's undenyable that a correction is around the corner.  I personally felt the correction would start at the end of March given those who bought in in December wouldn't be seeing the gains they were hoping for and so would start dumping by now.  Perhaps those investors are more resilient in which case it may be a slow and steady decline over many months.

[decodx]

It's undenyable that a correction is around the corner.  I personally felt the correction would start at the end of March given those who bought in in December wouldn't be seeing the gains they were hoping for and so would start dumping by now.  Perhaps those investors are more resilient in which case it may be a slow and steady decline over many months.

Or maybe we'll never see a correction below $50k again? Just look at the chart for the last month; we've already had a few steep drops, but support has always held above the $50k level.
The trend, seems to me, is still bullish.