Correction is possible in bitcoin price? After 40,000$

[Rehan Zakir]

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

[hugeblack]

It is difficult to predict Bitcoin in this short time frame, but there is nothing preventing us from reaching above $42,000 in the next few days. We may end this year with a rise above $48,000 before a correction occurs that takes us back to $42,000, with a small possibility that we will touch $32,000 the levels, so during this year we have a long range between $32,000 (50-Day SMA) up to $48,000.

[Oshosondy]

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

I do not think there will be any significant drop until spot bitcoin ETF has been approved. Even if it has been approved, the price of bitcoin will increase over $40000 if It has not increased to the price before the approval. Bear market may still come, but not until spot bitcoin ETF has been approved after the price has first continue to increase significantly after the approval. I mean after the approval, the price will also still increase, then little bear market may come before halving but which may not be significant at all.

[SquirrelJulietGarden]

It is difficult to predict Bitcoin in this short time frame, but there is nothing preventing us from reaching above $42,000 in the next few days. We may end this year with a rise above $48,000 before a correction occurs that takes us back to $42,000, with a small possibility that we will touch $32,000 the levels, so during this year we have a long range between $32,000 (50-Day SMA) up to $48,000.

It's hard to make predictions but the only thing I am sure is Bitcoin will not go straightly towards its 2021 all time high. It is my prediction but it is good to hold your coins, don't sell it before or shortly after the halving. When a bull run starts after 2024 halving, price will be higher than $40,000.

I do not think there will be any significant drop until spot bitcoin ETF has been approved. Even if it has been approved, the price of bitcoin will increase over $40000 if It has not increased to the price before the approval. Bear market may still come, but not until spot bitcoin ETF has been approved after the price has first continue to increase significantly after the approval. I mean after the approval, the price will also still increase, then little bear market may come before halving but which may not be significant at all.

Bitcoin Spot ETF approvals won't be a silver bullet to help Bitcoin rising without any correction. Even in a massive parabolic bull run, there will be many big corrections and with good recovery of Bitcoin during 2023, so far there is not big correction.

I am not surprised in last days of this year or early days of 2024, there will be big corrections. Those big corrections are healthy to get rid of gamblers and prepare for a healthier bull run in 2024 with a halving.

[mk4]

Of course, a correction is possible, as it's always possible — but will it happen? No one knows.

If I were to guess though? Probably, but maybe not as big of a correction as most people think. A lot of people are sidelined and are waiting for a dip and it really shows.

[Kelvinid]

The market trend is unpredictable but the said price correction seems expected to happen at any time, not wonder.
But we should have nothing to worry about, as long as we are holding tight and focusing on our goal in waiting for the bull season, we have nothing to lose as we never sell any.

Let us embrace and understand what the volatility looks like, it pumps today and it may dump or pump by tomorrow. A reason why we should know how to be patient and how to respond calmly to every market change.

[Essential10]

It is difficult to predict the exact trajectory of the Bitcoin market, as it is influenced by many factors. While the approval of spot bitcoin ETFs could have a positive impact on bitcoin prices, it is not guaranteed. Additionally, the probability of a bear market is always a possibility and can be affected by different market conditions. But I think Bitcoin price is expecting a possible correction, it might take a correction after reaching $40k. if $39k to $40k could be a lot of targets to set as those holding bitcoin from the bottom might have a target I think is logical but not very logical. But anything can happen, the event is only hypothetical.

[hyudien]

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

To face the Halving year, I think when Bitcoin experiences another decline it will be an ideal target. We know that ETF have a big impact on prices in the market regardless of the negatives and positives but for retail this kind of momentum can be utilized well so that price drops will always be anticipated to buy more. I'm not worried if christmas Day is the point where prices drop but  next year is already a tight grip that should be ready to be welcomed.  Touching $50,000 by the  end of the year doesn't  seem difficult if you look at the chart dated October 1-31 Bitcoin gave strength to ±$7,700. And from November 1-30 the Bitcoin price pushed up to ±$3,800. So it will be very interesting if the end of the year should touch $50,000  then a major push of ±$11,000 should be seen over the next 4 weeks.

[jens_akilssen]

I read recent threads regarding halving-correction-december topics, general opinion is that even if correction taking place in December to 30K$ it might be traders taking profit at/from 40K level. People note that such market behaviour is natural and shall not scare you. Everybody (yes) agreed upon DCA technique, dollar cost average, to invest constantly (if you have money of course) no matter correction (or not) taking place, because anyway the price returns back to origin point (where the fall began). I personally waiting firstly xrp to rise little bit, lets say to 0.00002500 btc per 1 xrp because of xrp-valour-etp event (early december) and later move all in Btc. Btc is the only real valuable asset.

[Hamza2424]

It is difficult to predict Bitcoin in this short time frame, but there is nothing preventing us from reaching above $42,000 in the next few days. We may end this year with a rise above $48,000 before a correction occurs that takes us back to $42,000, with a small possibility that we will touch $32,000 the levels, so during this year we have a long range between $32,000 (50-Day SMA) up to $48,000.

Hmm, Reasonable. In a few days, we can hit the 40k+ target and from that range, there will be major resistance in the path towards the 47K almost and I'm expecting a small consolidating area between the $41k to $43k.

Hmm, At the same time OP, I think the drop to the 30k is not logical according to the latest developments and market sentiments. keep the safe side it's the crypto market you never know until or unless a black swan event happens market is going to continue with its highly bullish rally. December will be a good month at least this is what i think.

[EarnOnVictor]

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

ETF stories have helped Bitcoin so much this year, and personally, I never believed it could breach the $37,000 mark, not to mention holding well above it. But the reality has proven that the reverse is the case, and if you noticed what has been happening since October, you would realize that the bullishness of Bitcoin is relentless, it has been buying with minimal bearish movements, so I will not advise anyone to start selling Bitcoin. Imagine what even happened yesterday, there was about a $1,000 spike in a few minutes, all these can't make Bitcoin fall tangibly but we should expect more of them.

There are many reasons for Bitcoin to rise rather than fall, and this ranges from the positive sentiment of people at this time to what is happening majorly on the larger timeframes on the technical chart. I believe the only news that could make a huge impact on Bitcoin is only when it's declared that the ETF has been disapproved. Other than that, I will not expect Bitcoin to hit $30,000 anymore this year and the next, it's going to be buying and buying.

[Waldorf77]

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

ETF stories have helped Bitcoin so much this year, and personally, I never believed it could breach the $37,000 mark, not to mention holding well above it. But the reality has proven that the reverse is the case, and if you noticed what has been happening since October, you would realize that the bullishness of Bitcoin is relentless, it has been buying with minimal bearish movements, so I will not advise anyone to start selling Bitcoin. Imagine what even happened yesterday, there was about a $1,000 spike in a few minutes, all these can't make Bitcoin fall tangibly but we should expect more of them.

There are many reasons for Bitcoin to rise rather than fall, and this ranges from the positive sentiment of people at this time to what is happening majorly on the larger timeframes on the technical chart. I believe the only news that could make a huge impact on Bitcoin is only when it's declared that the ETF has been disapproved. Other than that, I will not expect Bitcoin to hit $30,000 anymore this year and the next, it's going to be buying and buying.

Yes and by whales call/put ratio strong resistance on 40k price range.
It's just matter of time when correction happens Im short now.
Etf Sounds more like fomo clickbait

[Nrcewker]

It is difficult to predict Bitcoin in this short time frame, but there is nothing preventing us from reaching above $42,000 in the next few days. We may end this year with a rise above $48,000 before a correction occurs that takes us back to $42,000, with a small possibility that we will touch $32,000 the levels, so during this year we have a long range between $32,000 (50-Day SMA) up to $48,000.

I don’t think Bitcoins will cross more than 45k usd in this month. I might be wrong, but I am getting a feeling that this might happen. As soon as Bitcoins crosses 40k usd, all the short term holders will start selling the coins, which will reduce the demand to buy the coins. Hence we might see small set back in the coin. Else reverse can also happen if the demand increases and we might see Bitcoins crossing 50k usd. So let’s hope for the best.

[justdimin]

It is difficult to predict Bitcoin in this short time frame, but there is nothing preventing us from reaching above $42,000 in the next few days. We may end this year with a rise above $48,000 before a correction occurs that takes us back to $42,000, with a small possibility that we will touch $32,000 the levels, so during this year we have a long range between $32,000 (50-Day SMA) up to $48,000.

I actually think that short term is easier to predict technically and for long term predications we do not have any other help except fundamental analysis. For now the only bad news I see is the Binance being sued by the SEC. I think that was still a threat to the price of BTC as Binance is a huge crypto exchange and BTC is the main crypto. Not only BTC actually but other coins can also be affected with it.

Let us only hope for the best though. It is still best to see a good year end. It can also give us a good luck seeing a new year with a positivity even only in the price of the coins and not really to the happenings around.

[cute nmp]

It sometimes baffles to see the upward Btc movement for week now though I am happy with the uptrend i do think we need some corrections in the market for now .Maybe before we reach 40k or so . Hope we will get one in the market soon so that we take some new long entries .

[electronicash]

somewhere around $42K i think before the correction happens but it might just take a little dip to $32k or maybe $30k before it spikes again. the halving seems a guarantee that a bull market will happen. whether the price hits $100k or not, that is one we will be looking to see.

because the institutions are already in crypto, we will probably be seeing a lot of pullbacks as a kind of manipulation. since they are up to gather more BTC, they will squeeze the market for traders to believe the price going down.

[sokani]

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

The price surge could be attributed to the news of spot Bitcoin ETF approval that's in the offing or the forth coming Bitcoin halving. Whatever it might be, I believe we're all excited about the chart. Like you said the price has been hovering around 39,000 in the past few days and I think it's too early to say it's the new support level. I expect the price to push through to $43k in the next 60 days and maybe retrace to $41k or $42k, but I don't see it dropping down to $30k.

[macson]

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

the price of bitcoin could continue to rise to $50k or even fall back to $35k, so anything can happen to the price of bitcoin, the price of bitcoin will never be stable especially as we are approaching halving day, the price of bitcoin will definitely increase drastically and sharply.

I read recent threads regarding halving-correction-december topics, general opinion is that even if correction taking place in December to 30K$ it might be traders taking profit at/from 40K level. People note that such market behaviour is natural and shall not scare you. Everybody (yes) agreed upon DCA technique, dollar cost average, to invest constantly (if you have money of course) no matter correction (or not) taking place, because anyway the price returns back to origin point (where the fall began). I personally waiting firstly xrp to rise little bit, lets say to 0.00002500 btc per 1 xrp because of xrp-valour-etp event (early december) and later move all in Btc. Btc is the only real valuable asset.

Swing trading is a good technique, but you have to be careful because even the slightest wrong step can make you make a big loss instead of a profit, estimate the right time to sell and buy because the fluctuation in the price of XRP is not as big as the fluctuation in the price of Bitcoin.

[2girls]

Bitcoin prices have been on the rise for the past two to three weeks, with no significant correction observed during this period. Currently, the bitcoin price hovers around $39,300. The surge in bitcoin prices can be attributed to the news of ETF approval circulating in the market.

However, what is your opinion? Do you anticipate a potential drop in the bitcoin price, revisiting $30,000 after reaching $40,000, or do you believe it will continue its upward trajectory towards $50,000?

If the bitcoin would cross mainly the $40k then we would see it in its height as more than $42k would be possible in the near future. But the thing is we should see its crossing the $40k.

Mostly seen that when the bitcoin has a rise in the price and when that rise go so high then there a dump came in between that in which mostly users got loss and all the market get into red mark.

I hope we would only see pump this time.

[Captain Corporate]

I really do not think so, I mean we are getting to a point where its pure bull run and everyone is super excited to buy and wait for it to go up and the more time passes the more people buy and hold, so its just going up. I am not saying its not possible, in the sense that everything is possible so its not going to end up being anything crazy, it should be considering something that will benefit them in the end and should be all the way better. I think possibility is not what you should look at, what the results would be is a lot better, it could definitely be better if you think "what is more likely" type of way, instead of thinking what would be the possible result in this situation, and the answer is that its likely to go up even more.