How far can bitcoin price correction go?

[ivankoh]

If this gets worst, we may see price below $40k this year but be careful on that level because after that faster increase may happen.

The fact that bitcoin has had a bullish cycle since July 20th and bitcoin is back at $52k in early September, assuming the market base at the time of this week's correction ends at $40k  la, it's not such a bad thing.  Market sentiment is tending to take profits.  I am bullish with a stop of 40$-42k$ before the accumulation trend turns up again.

[1715213925]

1715213925

[1715213925]

1715213925

[yhiaali3]

Bitcoin may visit 40,000-38,000$ because of this strong bearish movement now and companies will buy huge quantities at these numbers (MicroStrategy bought an additional 5000 bitcoin yesterday at a price of 48,000 dollars), so huge liquidity will enter at these numbers and then I expect a strong upward movement that reverses the downward trend with the same strength and then We will surely cross 52K$ by far and I expect Bitcoin to continue its way towards a new high until the end of the year but until then we will see a lot of corrections.

[kentrolla]

Market is unpredictable at this point of time, only if it holds above than 46k we can see a positive trend else the price may drastically go down. Because it's big whales who play key role here as market sentiment is unparallel.

To be honest I expected a correction but BTC dropping straight away for $10000 is something crucial, to me it looks like if the price goes down below 44100 then again we can expect a big drop, let's chill and relax for now.

[Silberman]

We can all notice the ongoing price correction of Bitcoin and the fact that price does not continue in a straight line. What do you think Bitcoin's Price could be corrected to? I mean, what do you think would be the minimum price Bitcoin gets to, before going back to $52k price again?

If you are worried about a big crash then I would not waste my time thinking about it as I do not think this is going to happen before the price skyrockets, I think a correction to 42k is possible but then we will see a rebound to the current levels, to me this is not a big deal but if that is enough to scare you then I wonder if you are using leverage and that is why you are worried about a possible correction coming, as otherwise I do not see how that could be possible as such a small correction is well within the boundaries of what we have seen bitcoin doing in the past.

[matchi2011]

If this gets worst, we may see price below $40k this year but be careful on that level because after that faster increase may happen.

The fact that bitcoin has had a bullish cycle since July 20th and bitcoin is back at $52k in early September, assuming the market base at the time of this week's correction ends at $40k  la, it's not such a bad thing.  Market sentiment is tending to take profits.  I am bullish with a stop of 40$-42k$ before the accumulation trend turns up again.

From that level, it's really tough for newcomers, they are adding the pressures since it's getting harder for Bitcoin to recover back

to $50K, but by following your statement, the last few months recovered is a good sign that correction may take place within $40k
then it will start to gain support back.

accumulation may happened either whales will take charge or new investors will gain interest
to bring more money inside this investment.

we never know until things already shown up, always best to follow your own understanding while working inside this market.

[STT]

There was some fake news today that spiked the price otherwise it seems set on a fairly steady course going sideways.   My guess on this action would be have to resolve downwards at some point in order to gain a foothold with some volume behind it that backstop any further negative speculation in price action.

[SquallLeonhart]

We can all notice the ongoing price correction of Bitcoin and the fact that price does not continue in a straight line. What do you think Bitcoin's Price could be corrected to? I mean, what do you think would be the minimum price Bitcoin gets to, before going back to $52k price again?

I think it already did, didn't it? We have already seen the bottom and from here on out I believe that it will continue to recover and go up. That 40k+ will probably stay very strong unless something major changes. Obviously whales sometimes want to crash the price and they do it, it was the whales that crashed it recently as well and I believe it will stay like that for a long time as well, we do not really need to expect them to do anything else.

Surely we get to learn about what they are doing eventually, but until then only thing that could take us under 40k right now is those same whales crashing it all again. If they do not do anything unexpected, then the price will certainly stay 40k+ for sure.

[Maslate]

I worry about this situation because bitcoin can go to any lower price without knowing, although we can predict how the lower bitcoin price will go. We need to anticipate the losses and be ready for the worst scenario in the market so we do not have to get a big loss. And if necessary, we can leave the market temporarily until the situation can be back normal. If you still want to try your luck, you need to analyze deeper to find when to enter the market.

You'll/We'll never know exactly, that is the reality in here. We just live into speculations and we usually based on their previous performance but none of them give us the hint of the close possible to happen next, it certainly be going nowhere.
We have that low at $44k but looking on the chart now, we are getting back to $46k. People are mostly expecting continuous drops but apparently, they are wrong ( including me).

[doomloop]

You'll/We'll never know exactly, that is the reality in here. We just live into speculations and we usually based on their previous performance but none of them give us the hint of the close possible to happen next, it certainly be going nowhere.
We have that low at $44k but looking on the chart now, we are getting back to $46k. People are mostly expecting continuous drops but apparently, they are wrong ( including me).

Speculations, guessing, assuming, predicting these are all the same in the crypto world; made up numbers and dates. There is not a single soul in history that could ever say what bitcoin will do at what date back to back. Yes you can be right time to time but there is no way you can be right all the time. This is why people try to make sure that they end up making as much profit as they can on top of their losses.

If you lose 10 then profit 20, lose 50? then win 100. People do not look for not losing money while trading because that happens no matter what, they are looking for profiting more than they lost on the next trade and that way they are keeping ahead of the curve. I do not know how long that can be kept, sometimes people have an overall loss, but that doesn't mean that all of them are like that, there are some that makes a profit too.

[Silberman]

I worry about this situation because bitcoin can go to any lower price without knowing, although we can predict how the lower bitcoin price will go. We need to anticipate the losses and be ready for the worst scenario in the market so we do not have to get a big loss. And if necessary, we can leave the market temporarily until the situation can be back normal. If you still want to try your luck, you need to analyze deeper to find when to enter the market.

You'll/We'll never know exactly, that is the reality in here. We just live into speculations and we usually based on their previous performance but none of them give us the hint of the close possible to happen next, it certainly be going nowhere.
We have that low at $44k but looking on the chart now, we are getting back to $46k. People are mostly expecting continuous drops but apparently, they are wrong ( including me).

We are now at 48k but the price seems to be going nowhere and quite honestly it does not surprise me, we need to remember that during the last year the growth that we saw began to appear until October and while history is not going to repeat itself exactly I think that is the soonest we could hope for the price to begin to go up as rapidly as we are expecting, so I am not worried at all and I will enjoy the sideways movements while they last.

[carlfebz2]

I worry about this situation because bitcoin can go to any lower price without knowing, although we can predict how the lower bitcoin price will go. We need to anticipate the losses and be ready for the worst scenario in the market so we do not have to get a big loss. And if necessary, we can leave the market temporarily until the situation can be back normal. If you still want to try your luck, you need to analyze deeper to find when to enter the market.

You'll/We'll never know exactly, that is the reality in here. We just live into speculations and we usually based on their previous performance but none of them give us the hint of the close possible to happen next, it certainly be going nowhere.
We have that low at $44k but looking on the chart now, we are getting back to $46k. People are mostly expecting continuous drops but apparently, they are wrong ( including me).

We are now at 48k but the price seems to be going nowhere and quite honestly it does not surprise me, we need to remember that during the last year the growth that we saw began to appear until October and while history is not going to repeat itself exactly I think that is the soonest we could hope for the price to begin to go up as rapidly as we are expecting, so I am not worried at all and I will enjoy the sideways movements while they last.

Hardest part is that when the time that bitcoin price is moving sideways then you cant really tell on where it would be heading next which simply means that it is really hard for you to determine on what would be the next support.

Basing off with my technical analysis then the next support would be on 43k and if it breaks then 40k or 10k increment would happen for sure but for now its early to say that we would really be going that low.

For resistances then it would be on 50k and 52k until we do tend to break that 60k resistance and going into its previous ATH which we do hopefully could break this year.

[ethereumhunter]

I worry about this situation because bitcoin can go to any lower price without knowing, although we can predict how the lower bitcoin price will go. We need to anticipate the losses and be ready for the worst scenario in the market so we do not have to get a big loss. And if necessary, we can leave the market temporarily until the situation can be back normal. If you still want to try your luck, you need to analyze deeper to find when to enter the market.

You'll/We'll never know exactly, that is the reality in here. We just live into speculations and we usually based on their previous performance but none of them give us the hint of the close possible to happen next, it certainly be going nowhere.
We have that low at $44k but looking on the chart now, we are getting back to $46k. People are mostly expecting continuous drops but apparently, they are wrong ( including me).

At least, if we predict the lower and the higher price of bitcoin, we can prepare to do something that can give us benefit. Otherwise, we could just wait for more without doing something. We already saw the low price at $44k and not expecting to see another lower price again soon, but we can not deny if the price is finally going down for more. We can only accept and try to do something and not just sit down watching the price increase and decrease at the current price.

[asrinur]

I think there was a period of bearish correction Bitcoin plunged to the price of $45k. That was before BTC rocketed to its all-time high (ATH). Down to $45,000 which would be a very good buying opportunity in the long run. Rest assured that a new ATH (all-time high) will come later in the year or early next year.

[EdenHazard]

I think there was a period of bearish correction Bitcoin plunged to the price of $45k. That was before BTC rocketed to its all-time high (ATH). Down to $45,000 which would be a very good buying opportunity in the long run. Rest assured that a new ATH (all-time high) will come later in the year or early next year.

once amazon denied (again) would get involved in crypto project especially bitcoin a huge correction waves could wipe the market dropped ..

i would say a 5 to 20 percent is safe support to keep us in the bull run , otherwise if we cant keep the support at that level in the near future .. a deathcross might occurred in early new year as people and institutions wont be patient enough and set for a safe line especially to those who average bought the coins at 35k USD. just saying tho.

[Fatunad]

I think there was a period of bearish correction Bitcoin plunged to the price of $45k. That was before BTC rocketed to its all-time high (ATH). Down to $45,000 which would be a very good buying opportunity in the long run. Rest assured that a new ATH (all-time high) will come later in the year or early next year.

Always be a question but there are no accurate nor precise calls about for it to happen on this year or in next but considering on how near we are on the previous ATH then we can really tell that
it is likely to be reached in no time.We do only just need some positive catalyst which would really push up the price but also taking with correction on how far it could dipped?
Then it would always be a question because no one can determine on what would be the possible bottom.Yes we can see it on TA's but those arent giving out precise
points as always.

[Oasisman]

I worry about this situation because bitcoin can go to any lower price without knowing, although we can predict how the lower bitcoin price will go. We need to anticipate the losses and be ready for the worst scenario in the market so we do not have to get a big loss. And if necessary, we can leave the market temporarily until the situation can be back normal. If you still want to try your luck, you need to analyze deeper to find when to enter the market.

You'll/We'll never know exactly, that is the reality in here. We just live into speculations and we usually based on their previous performance but none of them give us the hint of the close possible to happen next, it certainly be going nowhere.
We have that low at $44k but looking on the chart now, we are getting back to $46k. People are mostly expecting continuous drops but apparently, they are wrong ( including me).

We are now at 48k but the price seems to be going nowhere and quite honestly it does not surprise me, we need to remember that during the last year the growth that we saw began to appear until October and while history is not going to repeat itself exactly I think that is the soonest we could hope for the price to begin to go up as rapidly as we are expecting, so I am not worried at all and I will enjoy the sideways movements while they last.

This is kinda like the trend every year. September was known to be quite a dip season for Bitcoin.
There's nothing to be worried of with these corrections. If OP is a long term hodler, as long as he's not selling he lose nothing.
 Sideways price movements is an advantage for the short traders on the other hand.
Currently, Bitcoin's strong support level is $45,000, and I guess Bitcoin could be corrected down to that figure before It begins to pump again maybe around October.

[Naficopa]

We can all notice the ongoing price correction of Bitcoin and the fact that price does not continue in a straight line. What do you think Bitcoin's Price could be corrected to? I mean, what do you think would be the minimum price Bitcoin gets to, before going back to $52k price again?

I think a fairly interesting chart that may be the answer to your question was created by WePiggy in this thread:

https://bitcointalk.org/index.php?topic=5360534.0

According to him, if history repeats itself, we may soon return to $30k and then will further price increases begin. In my opinion, the correction will be a little smaller, around 25%

[Ziskinberg]

I think there was a period of bearish correction Bitcoin plunged to the price of $45k. That was before BTC rocketed to its all-time high (ATH). Down to $45,000 which would be a very good buying opportunity in the long run. Rest assured that a new ATH (all-time high) will come later in the year or early next year.

Always be a question but there are no accurate nor precise calls about for it to happen on this year or in next but considering on how near we are on the previous ATH then we can really tell that
it is likely to be reached in no time.We do only just need some positive catalyst which would really push up the price but also taking with correction on how far it could dipped?
Then it would always be a question because no one can determine on what would be the possible bottom.Yes we can see it on TA's but those arent giving out precise
points as always.

Well, that we all been doing since before, a wild guess, sort of market prediction, I think we are happy doing these things. And besides, with this short fluctuation and market corrections, we got a chance to buy more. Investors had made it while panic sellers are worrying and tend to sell their Bitcoin. But look what the market did to us, it recovers so fast and that is because nobody had a bad time selling their volume of Bitcoin instead of keeping it. Now, I'd never see such correction, we are in definite recovery.

[Kusman]

After seeing that the price correction caused the price to go down to even $42k, I was afraid of the probability that it would go down even below $40k in a short time. It would be the start of another boring period for us and maybe we wouldn't see the bull market for a longer time. But I'm thankful to see the price climbing again. It climbed over $48k but the correction phase still maintains. It is $47k now. I hope to see the price recovering over $50k again before the end of the month.

[Boov]

We can all notice the ongoing price correction of Bitcoin and the fact that price does not continue in a straight line. What do you think Bitcoin's Price could be corrected to? I mean, what do you think would be the minimum price Bitcoin gets to, before going back to $52k price again?

I foresee that we will going to embrace $52k back, struggles will be seen before that happens. For now stable and fluctuating market was still present and transparent to all of us, so it needs so much patience in able for us to sustain deeper. Bearish market is barely creating strong resilience these days, that's why our strong community support should also be observed and be focused with.