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

[Yamifoud]

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?

Well, we've been at $40k ++ for a few days and quite stabilizing right now. We can hope that there is no correction anymore but can't hold the market's volatility as it drops (or it pumps more) for some inevitable reason. However, I don't expect a significant drop to happen but just a short correction which also normally occurs.

I don't see that ETF has contributed to the current situation but what I believe has an impact on the market these days is due to halving which is coming near.

[TopT3ns]

Well, we've been at $40k ++ for a few days and quite stabilizing right now. We can hope that there is no correction anymore but can't hold the market's volatility as it drops (or it pumps more) for some inevitable reason. However, I don't expect a significant drop to happen but just a short correction which also normally occurs.

I don't see that ETF has contributed to the current situation but what I believe has an impact on the market these days is due to halving which is coming near.

The market situation will likely remain stable like this as long as there is no bad news attacking Bitcoin. We all know that Bitcoin prices usually fall when there is bad news, but at the end of this year, as usual, the price will rise, and after the new year, the price will fall again. and make very deep corrections, but don't worry because it will definitely go up again because cryptocurrency price movements will only go up and down, and no one can accurately predict where the price will go in the future.

[Cryptmuster]

The market situation will likely remain stable like this as long as there is no bad news attacking Bitcoin. We all know that Bitcoin prices usually fall when there is bad news, but at the end of this year, as usual, the price will rise, and after the new year, the price will fall again. and make very deep corrections, but don't worry because it will definitely go up again because cryptocurrency price movements will only go up and down, and no one can accurately predict where the price will go in the future.

Bitcoin has been growing for the eighth week in a row, and it is clear that a correction will be inevitable, but if we are already in a bull market, then this correction may be local, after which growth will continue. It seems to me that before the start of a big growth there should be a big correction, I am of the opinion that the growth that we are now seeing began early and those who believe in further growth may suffer losses if a correction follows.

[BitcoinTurk]

It is very difficult to make a clear prediction in the short term, especially in today's market conditions. Although the Bitcoin price hasn’t made a serious correction, it isn’t possible to predict whether a correction movement will occur from its current price levels.

When we consider the reasons such as an increase in the number of new investors every day, the market moving optimistically and many people believing that the bull period has begun, it can be easily said that the price will continue to move upwards. Of course, with the arrival of positive news about ETF news, this price movement will occur much faster and harsher. Of course, it shouldn’t be forgotten that, on the contrary, a possible negative news may cause a movement in the opposite direction.

To put it briefly and simply, it is unfortunately very difficult to predict in which price range the mentioned correction movement will occur, given the potential for price changes to move sharply unidirectionally in today's market conditions.

[KingsDen]

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?

So many persons anticipated that Bitcoin will drop immediately it touches $40k , but currently Bitcoin has exceeded $40k for many days and it has not dropped. This is a sign that Bitcoin is unpredictable. However, Many experts predicted that Bitcoin will not exceed $45k this year. This prediction seems accurate because in few weeks time, this year will end. Although, with a little positive fundamental, Bitcoin can rise to $50k and also in same manner with a negative fundamental, it can drop below $40k.

The law is always thus; whatever goes up must surely come down. Therefore, since Bitcoin has been on the positive lane, we should also anticipate a negative lane. So, it is possible that Bitcoin may fall below $40k amidst the bull run trend.

[Japinat]

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?

Both are possible, but if I were to guess, I am quite optimistic to see bitcoin price soaring high in the next days. And with its possible price drop, it will always happen but no one knows when its going to start taking place. But I don't see minding for bitcoin price to see dropping again, in fact it will be a good opportunity to buy more Bitcoin while having it's price decline. After that, we will witness again bitcoin price to skyrocket once again.

However, with the ETF approval news and bitcoin halving becoming near, I don't see any reason for bitcoin price to drop but with its high volatility, certainly it will eventually happen again.

[tvplus006]

...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?

This is a cryptocurrency market and, accordingly, everything is possible here, even the impossible. So, even if you are sure that Bitcoin will reach the price of 50 thousand dollars, do not forget to set a stop loss, which will help you reduce losses if the price moves contrary to your expectations.

[traderethereum]

I'm sure the price will continue to rise towards $50,000. But before that happens, there will definitely be lots of corrections, whether deep corrections or small corrections.
Hopefully, the correction that will occur is a small correction, meaning the price will not fall back to $30,000 but will remain in the range of $43,000-$44,000.
And now, a correction has occurred and made the price of bitcoin fall to around $43.7xx. I think this is only temporary and hopefully only for a while.
But in the long term, the price will continue to rise until it reaches $50,000.
If you want to increase the number of bitcoins, you can buy them now and later. Just prepare the money to buy and determine the target price.

[EarnOnVictor]

I'm sure the price will continue to rise towards $50,000. But before that happens, there will definitely be lots of corrections, whether deep corrections or small corrections.
Hopefully, the correction that will occur is a small correction, meaning the price will not fall back to $30,000 but will remain in the range of $43,000-$44,000.
And now, a correction has occurred and made the price of bitcoin fall to around $43.7xx. I think this is only temporary and hopefully only for a while.
But in the long term, the price will continue to rise until it reaches $50,000.
If you want to increase the number of bitcoins, you can buy them now and later. Just prepare the money to buy and determine the target price.

You now sounded too certain, but in my trading experience, nothing is certain in the market no matter how sure the view is to you. Fine, we are in the obvious bullish season and everyone can catch a glimpse of it and earn their money easily. But do not forget that the market can't be moving up with a smooth slope just like that without some time to branch for some corrective purposes. This is why at this point I advise traders to exercise caution if they do not want to lose, or at least get their profit reduced. This is because I had been expecting the bearish retracement since last week. Bitcoin tried to retrace last week but it seems that the FOMO spirit is still prevailing which was what affected it.

But this time, the weekly chart's candlestick is bearish just like I warned last week, there is the possibility that we see a bearish week this time. You can also see what happened in the wake of the week, more might happen going forward, so we should not be so sure of the bullish trend without being cautious of the downward possibility too. And even as sure as you might think that $50,000 would be hit, in which the trend even agrees with you, the market might eventually fail, especially if this prospective bearish movement which would serve as a viable correction lasts longer than expected. This would be evident if Bitcoin does not find a means to move higher due to the lack of positive headlines that would catalyze it.

[pawanjain]

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?

We can't predict the numbers and at which price will the price reverse but what we can certainly tell is that after a pump in the price there is a period of consolidation or a reversal.
So as we know that bitcoin price has been pumping in the last few weeks, we can say that the price will enter a consolidation zone or might reverse.
Price cannot keep going in a single direction. Bitcoin price will reverse but we cannot surely say whether the price will reverse now or upon reaching $50k.

[Awaklara]

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?

We can't predict the numbers and at which price will the price reverse but what we can certainly tell is that after a pump in the price there is a period of consolidation or a reversal.
So as we know that bitcoin price has been pumping in the last few weeks, we can say that the price will enter a consolidation zone or might reverse.
Price cannot keep going in a single direction. Bitcoin price will reverse but we cannot surely say whether the price will reverse now or upon reaching $50k.

that's true and perhaps what is difficult to determine a position is when the price becomes stagnant after the pump occurs. some people may still be targeting higher prices, but some don't want to take the risk when prices eventually decline.
some time ago, we saw how Bitcoin was quite stable around the price of $30k, and that happened for quite a long time in fluctuating price movements, but not in a large price vulnerability.
perhaps the situation will occur at this current moment. now it continues to decline and may stop at a certain price which may last for a certain time.

[South Park]

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?

We can't predict the numbers and at which price will the price reverse but what we can certainly tell is that after a pump in the price there is a period of consolidation or a reversal.
So as we know that bitcoin price has been pumping in the last few weeks, we can say that the price will enter a consolidation zone or might reverse.
Price cannot keep going in a single direction. Bitcoin price will reverse but we cannot surely say whether the price will reverse now or upon reaching $50k.

And we are watching that correction happen right now, bitcoin failed to break up the 44k resistance level three times and now we are seeing the price reaching the 41k level, can bitcoin hold the 40k support level? This is an interesting question and I think the answer is yes, as I do not really expect this correction to be that significant, however if it is accompanied by a negative news then this could give the bears enough strength to keep pushing the price down for a time.

[cheezcarls]

We're actually in a correction period right now and we just do not know when will it be stopping. Maybe one factor is that lots of them are cashing out in preparation for their respective Xmas parties, buying gifts, etc. This is mostly likely happening in the Holiday season once we are experiencing uptrend in the market.

As of this time, we're currently standing at $40,600+ after reaching at least $44,200+ which I assume it's the current resistance level being defended that the bulls finding it hard to penetrate as of this time.

I was really hoping about BTC going as much as $45k before the end of the week which it failed. I can see that if the bulls can hold on with the projected $40k support level for a long while, this would lead to another round of bull run before the much-anticipated BTC halving.

[shinratensei_]

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?

We can't predict the numbers and at which price will the price reverse but what we can certainly tell is that after a pump in the price there is a period of consolidation or a reversal.
So as we know that bitcoin price has been pumping in the last few weeks, we can say that the price will enter a consolidation zone or might reverse.
Price cannot keep going in a single direction. Bitcoin price will reverse but we cannot surely say whether the price will reverse now or upon reaching $50k.

just yesterday we've got some correction suddenly out of nowhere without any proper reasoning at all and thats perfectly normal occurrence in the cryptocurrency market and thats what i mean by every bullrun will have some reversal.
in the bullrun its not just gonna go directly into the all time high there's most certainly always gonna be some pull back that gonna be occurring along the way and we should be prepared for that if we do trading for short term but its kinda different if we are investing for long term because honestly if we have a good entry we could simply just ignore all these corrections along the way and wait for the target after all these correction are most definitely not gonna be making the coin we invested touching the all time low anyway otherwise it will be. bearish.
anyone that have traded enough in cryptocurrency will definitely know that such reversal is always happening after some good rally and most of them already prepared for such thing, some might just outright ignoring it because they all know things are fine and the price will recover, some will take advantage of it for the sake of the margin.

[traderethereum]

You now sounded too certain, but in my trading experience, nothing is certain in the market no matter how sure the view is to you. Fine, we are in the obvious bullish season and everyone can catch a glimpse of it and earn their money easily. But do not forget that the market can't be moving up with a smooth slope just like that without some time to branch for some corrective purposes. This is why at this point I advise traders to exercise caution if they do not want to lose, or at least get their profit reduced. This is because I had been expecting the bearish retracement since last week. Bitcoin tried to retrace last week but it seems that the FOMO spirit is still prevailing which was what affected it.

But this time, the weekly chart's candlestick is bearish just like I warned last week, there is the possibility that we see a bearish week this time. You can also see what happened in the wake of the week, more might happen going forward, so we should not be so sure of the bullish trend without being cautious of the downward possibility too. And even as sure as you might think that $50,000 would be hit, in which the trend even agrees with you, the market might eventually fail, especially if this prospective bearish movement which would serve as a viable correction lasts longer than expected. This would be evident if Bitcoin does not find a means to move higher due to the lack of positive headlines that would catalyze it.

Yes, nothing is certain in trading. For this reason, we must always be prepared for what will happen. We are in a bullish state but we also have to admit that the market has experienced corrections many times and some declines often take us by surprise.
But if we are always ready, it will not affect us, and we can remain calm when facing whatever happens. If traders want to avoid experiencing losses, they can exit the market first until the situation is not volatile, even though it is unlikely that the market will calm down.
The drop from $44k to $41k may have surprised many people as they did not expect such a deep drop.
We have seen bears coming into the market and causing the market to experience a deep decline. But that's only temporary because now there seems to be strength and encouragement for the price to rise again. From $41,500, it is now at $41,700.
Hopefully, there will be a reversal and bring the price back to $42 or higher.
Even though the market will experience bearish conditions again, the price of bitcoin will reach $50,000, even though we don't know when that will happen. We should keep holding onto Bitcoin tightly and only sell it if our target price has been reached.

[Russlenat]

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 closer this year will end, the higher we see bitcoin price surging that made me think that any market correction might not be happening this year anymore. But we all know this remains an illusion because we know from the start that bitcoin moves its price mysteriously. So I still have this feeling that any time, bitcoin might experience another price correction and we know its unstoppable.

But is there any reason to be mad or resort into panicking? Of course, there's none. No matter how deep the price drops, bitcoin will always comes up recovering again. So let's just enjoy the opportunity if ever it happens, at least we can add more cheap bitcoins into our portfolio.

[Lakai01]

just yesterday we've got some correction suddenly out of nowhere without any proper reasoning at all and thats perfectly normal occurrence in the cryptocurrency market and thats what i mean by every bullrun will have some reversal.
[...]

Corrections following sharp price rises are very common in the crypto environment. What happens here is that large sums of longs are liquidated, thereby removing "trading competition" from the market, as these people then lack the necessary money to quickly recover from the loss. Of course, this also happens in the stock market, but in a much more subtle way, as otherwise the market regulator would immediately intervene.

You can read about the effects of this here, for example: https://decrypt.co/209259/330-million-in-crypto-longs-liquidated-as-bitcoin-tumbles-below-43000

[ultrloa]

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 closer this year will end, the higher we see bitcoin price surging that made me think that any market correction might not be happening this year anymore. But we all know this remains an illusion because we know from the start that bitcoin moves its price mysteriously. So I still have this feeling that any time, bitcoin might experience another price correction and we know its unstoppable.

But is there any reason to be mad or resort into panicking? Of course, there's none. No matter how deep the price drops, bitcoin will always comes up recovering again. So let's just enjoy the opportunity if ever it happens, at least we can add more cheap bitcoins into our portfolio.

The price surge happen its because people think that there are more coming but unfortunately maybe there are some people cashing out there profit that's why there's correction happen. There are still few days left for December still there's a chance that bitcoin will still pump up to $50k if you mean if this price still possible to reach. Also there's no always price up for any coin including bitcoin and current situation shows that to much expecting on something could leave them to massive lose if they are those type of person which can be easily get panic on certain condition including market correction.


For me there's no reason to get panic as still its good to hold if you have some and accumulate if you have no balance left since we are not yet experiencing the halving effect so most provably price would recover and maybe we can see more larger price than this in coming next year.

[Sim_card]

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 can't say anything on the price movement of bitcoin but the fact remains that bitcoin price is still doing well and this little correction that happened is not a surprise. This is because the price has being shooting up and a correction is needed for it to be able to go above 44k price which was the highest price of bitcoin in this circle. So I wouldn't say that we should expect a big dip in bitcoin price. We might see $37k but I am expecting bitcoin price to reach 45k and above by the end of this month/year.

[Cookdata]

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?

Before the weekend, I think on Friday, I read something about Fidelity spot ETF bitcoin having a meeting with SEC but the detail of the meeting wasn't revealed and that is sceptical to keep mum about the progress of bitcoin spot ETF, and then the weekend bitcoin dump, even yesterday been a new weekend Bitcoin dump a little bit and that makes me think there is something fishy that SEC and bitcoin ETF bitcoin spot applications are doing that the public is not aware for now. However, I am waiting to see what will happen comes January as many people expected the bitcoin ETF spots should be approved, even if not all they will certainly approved some.

I also have a fear of the rejection because SEC has an influence on the Bitcoin market and billions will flow into ETFs if they should make approve these ETFs and in addition bull run is around the corner, if they approve this application I think Bitcoin is going to have an insane bull run and I believe they wouldn't want to be involved in bitcoin price shoot up, they don't want to be involve in why people buy bitcoin, I know SEC very well and that is why I fear of this rejection might happen.

Price correction might not happen now perhaps maybe 2 months to halving that some people will sell, many investors wouldn't wait for bitcoin halving to approach before they sell, they are smart and they wouldn't wait for that day before they sell, so I expect to see a correction by then but I don't it will happen now because bulls don't want to lose this opportunity until they have what they came for this season of bull run.