How far can bitcoin price correction go?

[TheEconomists]

With the look of how the market is moving the bottom before any serious upward trend to like $50k and above is $37k and we do hope that it will not get below this speculation so that an upward trend will easy and fast when the time comes.

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[Review Master]

Until now the price of bitcoin has not been able to rise from its fall after successfully touching the level of $ 52k, the correction that occurs in bitcoin at this time I think tends to be temporary because recently if we see there is no too sharp decline, the correction that is currently experienced is more make the bitcoin price stable between the levels of $ 41k to $ 42k, then fundamentally the price of bitcoin is very likely to immediately return to the price of $ 52k.

Hopefully, it isn't the dead cat bounce comparing previous bull seasons in worst case scenario. If it’s the dead cat bounce, than we could see more sharp decline in the upcoming weeks. Also, it would be great to see bitcoin above the $50k price level for another bullish rally. Lets just hope for the best and prepare for the worst, IMHO.

[LUCKMCFLY]

Many are hoping or betting that BTC can go down to $30k, the bears are campaigning hard for it, technical indices made by cointelegraph suggest that the bulls are defending an acceptable price level:

a break and close above the 20-day EMA will be the first sign that the selling pressure could be reducing. The pair may then rise to the 50-day SMA ($46,580), followed by a move to $48,843.20.

Source: https://cointelegraph.com/news/price-analysis-9-29-btc-eth-ada-bnb-xrp-sol-dot-doge-avax-uni

The price levels that analysts suggest if a bullish movement occurs, they say it can reach up to $48k, but in my personal opinion I think it can go as high as $ 50k which is the most likely psychological price.

[darkangelosme]

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 Bitcoin would slowly rise up till next month or in November, and will hit 50k to 55k USD at that moment that's why I'm still holding on and hoping to come at that price to gain some profit, that my opinion.

[arufox]

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.

I think Bitcoin has been on the rise again since early October and has the potential to increase quite significantly over the next few weeks. The price of bitcoin has now returned to the level of $62k. Therefore, I think by the end of this month, BTC will most likely hit $65k and potentially enter the $70k to $75k region in late October or early November.

[rincoeng1986]

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.

I think Bitcoin has been on the rise again since early October and has the potential to increase quite significantly over the next few weeks. The price of bitcoin has now returned to the level of $62k. Therefore, I think by the end of this month, BTC will most likely hit $65k and potentially enter the $70k to $75k region in late October or early November.

Bitcoin is holding between $60,000 and $62,000 for the next few days. Bitcoin market price is on the verge of calming and investors are looking at other altcoin markets, because altcoins have started to go all the way to the moon and have started the green zone with the highest percent rate.

[onecall123]

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.

I think Bitcoin has been on the rise again since early October and has the potential to increase quite significantly over the next few weeks. The price of bitcoin has now returned to the level of $62k. Therefore, I think by the end of this month, BTC will most likely hit $65k and potentially enter the $70k to $75k region in late October or early November.

At the moment I'm watching Bitcoin's price movements. It is amazing to see BTC above $62k. Crypto's total market capitalization has reached $2.5 trillion, which is a major resistance. As a result, we can expect a good rally in crypto markets. BTC is close to its all-time high, and we'll see some really good momentum once BTC crosses $65,000. If you watch constantly, I recommend buying the dumps and making quick money. For those looking for quick profits.

[STT]

This present pullback so far is nothing much but I'm waiting to see if daily bars matter or not for it to develop negatively.



So about 62.5k area was my previous guess for a good test area to support where price action could then go back up.    See if losing a positive pattern on daily bars would matter and also the momentum of the weekly average.   I expect any proper down move to require multiple confirmations and this is just a first test, wont be worrying everyone.

[Rimueng]

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?

In my opinion, Bitcoin looks quite bullish so far where the bitcoin price has reached $66k. However, for the medium term or the next few months, it looks like bitcoin will continue its bullish trend or the biggest upside potential will hit $80k later this year.

[Kasabus]

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?

In my opinion, Bitcoin looks quite bullish so far where the bitcoin price has reached $66k. However, for the medium term or the next few months, it looks like bitcoin will continue its bullish trend or the biggest upside potential will hit $80k later this year.

Bitcoin has been bullish since the first day of october and up to the present, its still working on to reach another all time high before this year ends. But i also notice that its price at the moment is rarely not seen going up, maybe of just some price correction or what. Ethereum instead is having a fast pace price surge reaching on its new all time high.

Well, bitcoin is still bullish even if its price does not make any significant pumps in these past few days, and for sure it will reach another peaks before we see it. Price corrections will always be inevitable, just like bitcoin will always recover from any dumps in the market.

[ultrloa]

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?

In my opinion, Bitcoin looks quite bullish so far where the bitcoin price has reached $66k. However, for the medium term or the next few months, it looks like bitcoin will continue its bullish trend or the biggest upside potential will hit $80k later this year.

Yes we are still bullish knowing that bitcoin never drops at below $60k at the moment and this negative side which is happening these days is I think normal since there so many times that the drop hit the market after new ATH show up in the market and maybe other is just positioning again to buy at the dip so its good to enter when the market is in correction mode. And most provably we can see this continue since month of November and December is so promising.

[bitgolden]

we are still bullish knowing that bitcoin never drops at below $60k at the moment and this negative side which is happening these days is I think normal since there so many times that the drop hit the market after new ATH show up in the market and maybe other is just positioning again to buy at the dip so its good to enter when the market is in correction mode. And most provably we can see this continue since month of November and December is so promising.

That is the thing about bitcoin. I keep trying to explain this to people but many people do not understand it. If you are dealing with bitcoin, the first thing you need to know is that it "tries" a direction and if it fails then it goes to other direction.

For example, let's assume the price is 45k, and it drops to 40k, it will try to go down even more, there will be a lot of selling and price will slightly drop and then suddenly recover, that means it rejects going under 40k, in that case sellers will eventually be gone because they all sold or gave up, then the price will start to creep back up and even go beyond 45k. Same for now, it tried to drop under 60k, failed and that means we are going to see a situation where the price will hit 70k+ because it has tried to go down and failed which left only upwards to go. I can't guarantee this, but that is usually what happens.

[Victorycoin]

Bitcoin is a more volatile cryptocurrency. It can grow much faster in a short period of time also can be corrected again. In my opinion it's price correction price would be 41k to 45k.

Investors were worried when the price of bitcoin fell but seeing the price rise again, everyone thinks the market will correct there is always instability in the crypto market so there is nothing to do but wait patiently. The price of bitcoin is above 45k it seems that it can go above 50k.

current market prices are no more like the local markets we have encountered in our cities. so don't worry about market conditions that often go up and down, because supply and demand have a level of balance. the bitcoin price has entered the healing phase now and is back at $48k, meaning bitcoin will break through again at the $50k mark the middle of this month.

Waiting to see the true value of bitcoin is a good decision bitcoin usually breaks all its resistance $ broke 50k and crossed 60k. Investors expect more growth later this year if the market goes down and suffers losses, it will rise again if it waits for the right time.

[rodskee]

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?

The fall bring Bitcoin price lowered down to 28,000 but breaking that 52k instead recorded another ATH that valued 66,000 .

this is how volatile and unpredictable bitcoin price is , so If you are here to make easy money then you are missing the chance because this is for a strong hands and willing to take a risk in semi long term or best if Long term investing.

[bitterguy28]

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?

In my opinion, Bitcoin looks quite bullish so far where the bitcoin price has reached $66k. However, for the medium term or the next few months, it looks like bitcoin will continue its bullish trend or the biggest upside potential will hit $80k later this year.

Well there are many speculative post about that 80k to be the highest price Bitcoin can achieve this year of 2021
looks like the 100k target is far from happening now , and i know that it is exaggerated to expect 100k when there are no update and other new trend to follow .
but nothing is certain until it happens so lets see if Bitcoin may break another ATH or we will stick to that 66k as the prime now.

[Woodie]

The fact that we have broken the $60k price barrier if we are looking for the extent the current correction can go it has to be this price of $60k which could be an area which will be retested before continuing the uptrend and provided we don't have any negative tweets from influencers or news that will hurt market price...I really don't expect this to go below $55k in any worse case scenario. AFAIK markets are still bullish..


 

[Japinat]

The fact that we have broken the $60k price barrier if we are looking for the extent the current correction can go it has to be this price of $60k which could be an area which will be retested before continuing the uptrend and provided we don't have any negative tweets from influencers or news that will hurt market price...I really don't expect this to go below $55k in any worse case scenario. AFAIK markets are still bullish..

The market is still bullish but we cannot say it will never go down below $55k this year. You might have forgotten what happen this year when bitcoin hits an ATH of $64k but it fall down due to correction and bitcoin hit the rock bottom this year at a price of $29k. So what I'm saying is, nothing is certain since the crypto market is really unpredictable, anything could happen.

[saltomanx1x]

The fact that we have broken the $60k price barrier if we are looking for the extent the current correction can go it has to be this price of $60k which could be an area which will be retested before continuing the uptrend and provided we don't have any negative tweets from influencers or news that will hurt market price...I really don't expect this to go below $55k in any worse case scenario. AFAIK markets are still bullish..

The market is still bullish but we cannot say it will never go down below $55k this year. You might have forgotten what happen this year when bitcoin hits an ATH of $64k but it fall down due to correction and bitcoin hit the rock bottom this year at a price of $29k. So what I'm saying is, nothing is certain since the crypto market is really unpredictable, anything could happen.

the bear market is in a defensive position and how long it can survive for now cannot be predicted with accuracy. for now you can be indifferent whether bitcoin will be corrected again or there will be bullrish again, so you still have to be vigilant at this time.

[xmonkeyx]

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?

after experiencing a price increase, the correction is not too far, I see it tends to be without significant movement. that's a very good sign in my opinion with the possibility of making a new ATH again in the near future.

[Pamadar]

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?

It is difficult to predict with certainty the price of bitcoin, but many people believe the correction will recover in the near future, the correction that occurs to bitcoin is actually not that big this month, so there is nothing to worry about excessively, the occurrence of corrections is something that often happens in the market, it is a sign that the coin has stability compared to other coins.

Bitcoin still showing good bounce back, that small corrections few days ago are slowly being recovered and now it's moving again
to reach the last time high, playing between $60K-$62K not bad after falling to below $60K.

With the current market it shows that bull dominated back the bear after that attempt, good for every traders especially for those who are shorting the market.

That small span back already provides them profits, small but assured gains.