How far will Bitcoin price correct?

[Stedsm]

With the recent "pump", it looks like BTC is recovering again but I'm still waiting for a big dip to happen which will come according to my belief because Bitcoin came high and broke its ATH so quick after going to $30k, that it has yet to take the liquidity available at many lower levels including $40k. Though, till BTC remains above $57k, I'm bullish on it and if it crosses back $62k, it'll become parabolic once again.

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[Vaskiy]

I don't have a big holding of cryptocurrency. This makes me stay free even when there is large scale price crash. The market is at the peak, and we don't know in what direction the price movement will take place. With this everyone's prediction is with some comparison and market study. With time there is good rise in usage as well as adoption of cryptocurrency, however the growth pattern follows a cycle. This way I believe there is more chance of price dropping low to $30k.

[jostorres]

With the recent "pump", it looks like BTC is recovering again but I'm still waiting for a big dip to happen which will come according to my belief because Bitcoin came high and broke its ATH so quick after going to $30k, that it has yet to take the liquidity available at many lower levels including $40k. Though, till BTC remains above $57k, I'm bullish on it and if it crosses back $62k, it'll become parabolic once again.

Yeah, it is recovering as right now it is trading above $59k level and I guess this weekend would be a great time for recover as usually bitcoin market trades positive on weekend. So, today and tomorrow market may remain positive by recovering which may get bitcoin prices into $63k to $66k levels somehow.

I am confident about finishing of this month November in positive candle because that much be more important to have continuation of bull run in December month as well.

[sunsilk]

With fear beginning to creep into the market after closing the day below $57K, the lowest price in over a month, do you think the bottom is now in or that price will go lower?

While most speculators don't appear to think the bull market is over, many still think price may still go lower.

The bottom was likely in already. As we see the market, trying to break out again $60k and if this happens, then for sure that it's going to stay there again for so long before either going to another ATH or have a correction again.

But how low do you think Bitcoin will go before reversing?

Maybe lower than $50k and that's the lowest that it can go if the bottom isn't in yet. But if it's like $54k-$55k then that's already fine that we get to see it as the market starts to go on the green signal.

[Stedsm]

I guess this weekend would be a great time for recover as usually bitcoin market trades positive on weekend.

Well, I don't think so because weekends are mostly the only days when the whole crypto declines in percentage, and I'm quite surprised to see since the last few weekends that there are not many drops occurring against the spikes that are taking place every now and then. I hope that your perceptions regarding BTC's price rise come out to be true today as Sunday has started here already (in my country) but I'm waiting for 23:59 pm UTC to see what happens at that time.

[DoublerHunter]

With fear beginning to creep into the market after closing the day below $57K, the lowest price in over a month, do you think the bottom is now in or that price will go lower?

While most speculators don't appear to think the bull market is over, many still think price may still go lower. But how low do you think Bitcoin will go before reversing?

^ The price could be not lower to $50k plus in my opinion. This short correction was affected by the panic seller and this will continue to drop not until they will realize that they already lose in selling in the early stage of the correction.
However, it is a little bit hard to guess your question because if there is someone who knows how to predict it could be they are the most riches people.
This is not bad news for me because I can able to accumulate while the market was been corrected the price.

[eaLiTy]

With fear beginning to creep into the market after closing the day below $57K, the lowest price in over a month, do you think the bottom is now in or that price will go lower?

While most speculators don't appear to think the bull market is over, many still think price may still go lower. But how low do you think Bitcoin will go before reversing?

Even i am not expecting that the bull market is over yet, it is a minor correction, you need to expect the huge investment from institutional investors and they will be booking their profit whenever the price touches all time high valuation.

When it comes to the bottom prediction, it is hard to predict how low the price would go during the bear market, but i am expecting that the market could go below $30k especially if the institutional investors starts dumping the coins.

[Slow death]

currently it is very difficult to predict the price, in the past it was very easy to predict the price, it would be enough for a person to look at the 4H chart and whenever there was a large price increase we already knew that it would fall a lot days or weeks later and before to go up a lot again, the price would be stagnant and only after that the price would go up a lot again, but currently the scenario has changed, the price increases a lot, falls a little and increases again a lot

[Ziskinberg]

Well, I'm no expertise in seeing the market what will happen today and in the days coming and I think, nobody does. However, with the current number of investors and traders, I can never say it going back below $40k. It was just to see this decline because of the incoming Christmas celebrations, it has to know that and probably these holders are selling off their coins to spend during the holidays and seemingly it happens in the past years.
But of course, this is how the volatility is meant for, a lot of factors that could really affect the market flow.

[philipma1957]

Op the correction that needs to happen:

  BTC will correct in the next sixty days to around 105-111k.

Yeah thats right the correction is an uptick to the value it should be 100k plus.

😊

[24Kt]

Well, I'm no expertise in seeing the market what will happen today and in the days coming and I think, nobody does. However, with the current number of investors and traders, I can never say it going back below $40k. It was just to see this decline because of the incoming Christmas celebrations, it has to know that and probably these holders are selling off their coins to spend during the holidays and seemingly it happens in the past years.
But of course, this is how the volatility is meant for, a lot of factors that could really affect the market flow.

As we speak, btc is climbing up again. So we will be hitting the 60k level again in no time. The crypto activity today is very different from the last decade, and it is still growing stronger everyday. This is why, the increase of price is always there. It may go down once in a while as part of the normal market performance, but looking at the big picture of the btc chart, we are continuously going up. So in terms of correction, there will always be correction as we go up.

[Lucius]

With the recent "pump", it looks like BTC is recovering again but I'm still waiting for a big dip to happen which will come according to my belief because Bitcoin came high and broke its ATH so quick after going to $30k...

I have already written my opinion in my previous post, and I am sorry that the people who have been on the forum for years have not yet learned to look at things from a perspective other than the one presented to them by the media, who mostly write nonsense.

People like you who are waiting for a new dip of 50% should know that if that happens, that dip can very easily be 70% or more, which means that we have a long crypto winter ahead of us. Although Bitcoin is unpredictable, I am of the opinion that things have changed compared to 2017 and that we should still be a little more optimistic. I think there is a greater chance at this point that a 50% price increase will happen than the other way around, but that’s just my opinion.

[Ultegra134]

With the recent "pump", it looks like BTC is recovering again but I'm still waiting for a big dip to happen which will come according to my belief because Bitcoin came high and broke its ATH so quick after going to $30k...

I have already written my opinion in my previous post, and I am sorry that the people who have been on the forum for years have not yet learned to look at things from a perspective other than the one presented to them by the media, who mostly write nonsense.

People like you who are waiting for a new dip of 50% should know that if that happens, that dip can very easily be 70% or more, which means that we have a long crypto winter ahead of us. Although Bitcoin is unpredictable, I am of the opinion that things have changed compared to 2017 and that we should still be a little more optimistic. I think there is a greater chance at this point that a 50% price increase will happen than the other way around, but that’s just my opinion.

While I understand and respect your point of view, the whole market is unpredictable, thus, we are possibly all talking nonsense. On the other hand, I wouldn't be surprised if Bitcoin crashed, similarly to 2017. However, I don't think there's any way to actually foresee the future. I'm pretty positive that the outcome will live up to our expectations in the distant future.

[davis196]

With fear beginning to creep into the market after closing the day below $57K, the lowest price in over a month, do you think the bottom is now in or that price will go lower?

While most speculators don't appear to think the bull market is over, many still think price may still go lower. But how low do you think Bitcoin will go before reversing?

One month ago,I wrote a topic reply about "NO DROP November" to follow the bullish October,when it comes to the Bitcoin price.I guess I was wrong.The price is going to drop in November,which isn't bad,if you think about it.The previous October bull run lost momentum,so there will be price correction and a small bearish market during November and December,before a new bull run and FOMO phase begins to grow.
This is a good opportunity for the traders to buy more BTC.There's no FUD causing the current price drop,which means that the bullish expectations are still here,but we need something to trigger them.
We need some institutional investor or crypto whale to step in and start buying BTC.

[Taskford]

Well, I'm no expertise in seeing the market what will happen today and in the days coming and I think, nobody does. However, with the current number of investors and traders, I can never say it going back below $40k. It was just to see this decline because of the incoming Christmas celebrations, it has to know that and probably these holders are selling off their coins to spend during the holidays and seemingly it happens in the past years.
But of course, this is how the volatility is meant for, a lot of factors that could really affect the market flow.

As we speak, btc is climbing up again. So we will be hitting the 60k level again in no time. The crypto activity today is very different from the last decade, and it is still growing stronger everyday. This is why, the increase of price is always there. It may go down once in a while as part of the normal market performance, but looking at the big picture of the btc chart, we are continuously going up. So in terms of correction, there will always be correction as we go up.

So hard to determine if we are going back to that price but since the price became more stable right now then its good to short it since I think many people are been afraid for huge bear market scenario and this could affect its possible pump. But hopefully we cannot see that and still continue to be a bull since its really hard to come up with loses if the market flip down.

There's 1 month left before the year end so maybe we can determine on what will happen to the market on December.

[n0ne]

Well, I'm no expertise in seeing the market what will happen today and in the days coming and I think, nobody does. However, with the current number of investors and traders, I can never say it going back below $40k. It was just to see this decline because of the incoming Christmas celebrations, it has to know that and probably these holders are selling off their coins to spend during the holidays and seemingly it happens in the past years.
But of course, this is how the volatility is meant for, a lot of factors that could really affect the market flow.

As we speak, btc is climbing up again. So we will be hitting the 60k level again in no time. The crypto activity today is very different from the last decade, and it is still growing stronger everyday. This is why, the increase of price is always there. It may go down once in a while as part of the normal market performance, but looking at the big picture of the btc chart, we are continuously going up. So in terms of correction, there will always be correction as we go up.

So hard to determine if we are going back to that price but since the price became more stable right now then its good to short it since I think many people are been afraid for huge bear market scenario and this could affect its possible pump. But hopefully we cannot see that and still continue to be a bull since its really hard to come up with loses if the market flip down.

There's 1 month left before the year end so maybe we can determine on what will happen to the market on December.

We're almost near to the end days of November. To predict the market is a tedious task, everyone does it relating with the previous bull trend. Moreover the market changes used to happen with the good and bad associated with adoption and government making regulatory laws. To reach an ATH it needs to overcome more price barriers. Within the year end making price seems to turn bearish than bullish.

[tokeweed]

There’s a somewhat strong support around 40k.  Open a chart and look...  If that gives away, down it goes to 30k where it will prolly hold.  If not, I guess that’s it.  See you guys in the next bull market.

There is a big difference between someone who is pessimistic and realistic, and I see a lot of pessimists these days just looking for the next bad news to make sure the bull market is over.

I don't have a magic sphere or I'm a TA expert, but I think the current price is the result of market manipulation due to futures expiration, repeated news from China about how miners should stop mining (I just don't know which miners, those who relocated their mining farms a long time ago?), and Mt.Gox rumors about how they will finally pay compensation to their clients. Ah yes, I forgot the famous bill recently signed by the US president (I doubt he even knows what it's about), that any transaction over $10k (in crypto) will have to be subject to verification for tax collection purposes.

Although one thing is stupider than another, the crypto market is so sensitive that it reacts to all kinds of nonsense, so it is enough for one big Chinese or American to sneeze and the market immediately panics

Wait..  what?  A pessimist?  Lol.  I said there’s strong support at 40k and if that breaks there’s another support around 30k that could prolly hold.  And if that 30k support breaks down, I’m just a pessimist?  So nobody’s allowed to say that it’s prolly a bear market around these parts anymore?

Edit:  And I didn’t even say BTC would fall.

[justdimin]

One month ago,I wrote a topic reply about "NO DROP November" to follow the bullish October,when it comes to the Bitcoin price.I guess I was wrong.The price is going to drop in November,which isn't bad,if you think about it.The previous October bull run lost momentum,so there will be price correction and a small bearish market during November and December,before a new bull run and FOMO phase begins to grow.
This is a good opportunity for the traders to buy more BTC.There's no FUD causing the current price drop,which means that the bullish expectations are still here,but we need something to trigger them.
We need some institutional investor or crypto whale to step in and start buying BTC.

It wasn't just you, we all got a bit confused about it and I would say that this latest drop wasn't something anyone expected. I get that we all knew that when the price goes up, eventually it goes down and that is what we had, so it is not really "shocking" but the reality is that we didn't expected it to happen now, maybe in the future that would make sense but it was going so great so everyone expected it to happen a lot more later.

Things are looking better though, it is increasing better and better, reaching good levels. So let's just wait for it to make a big move, it is not a big move for now but it will definitely make a "big" move, hopefully higher but I can't guarantee anything.

[darkangelosme]

For me i think the price of Bitcoin will go back to previous top of $53K, but still no one can tell us what will happen in the future except those big players what we call whales, that's why i do not much rely on some news because there is a chance that someone is manipulating it

[Fundamentals Of]

I'm afraid the price has not yet reached its bottom. $57,000 is probably not the bottom. There's still room down there. It could go as far as $55,000. I don't see it going any lower than $55,000 though.

But this is not taking away the bullish cycle that we are still in right now. The price falling to $55,000 is just part of the short-term rise and fall. The medium to long term is still very much bullish. There will definitely be another ATH coming if not in November then definitely in December. But we are admittedly going far from the $100,000 target.