When is next significant correction coming?

[mirakal]

Hi all!

We all seen what Bitcoin was doing for the past month and most of us would like to get some more Bitcoin. I was waiting for a good moment to do that for about 3 weeks and in terms of buying the dip it ain't looking good.

It was consolidating for so long now! Please share your thoughts on to when another correction may be expected?

Thank you and have a good day

None of us knows. Because if that would be possible, then expect that majority of us here won’t lose our investments but would be more patient to buy and hold knowing the best price is almost near. But we all know in reality, everything that happens in the market remains a mystery for us, but if you chose to stay more positive and stay more patient because it’s the right thing to do, surely you will end up with massive profits.

However, waiting when to invest is more likely a waste of time and opportunity. You could have invested that using your own extra money and just wait when the price will prosper. After all, bitcoin is a long term investment so one should not rely much waiting on bitcoin to fall on its dips, but learn to invest on the money that you can afford to lose regardless of the price.

[erep]

I think everyone has a different strategy even though investing using the DCA method, we don't need to be reckless in starting investments at high prices because considering the potential for high market correction in the bearish season, but our best option is running a DCA investment strategy at a lower price than current market price and save the savings funds in gold for the purpose of maintaining asset stability and when the BTC price falls then convert the gold for crypto investment.

Indeed, there are various ways to invest and also to carry out strategies that we consider beneficial to us as investors. However, in terms of investing in crypto, I think saving funds in currency before buying Bitcoin would not be wrong because these funds will be used to buy Bitcoin when the price is low. However, the method you stated is also quite good to implement because apart from being quite good through the DCA strategy, you can also have the opportunity to make a profit through the gold savings that we choose as temporary savings.

The option will get two different benefits from the profits of different types of investments, profits from investing in gold and profits from investing in cryptocurrency when you have set the lowest price for bitcoin investment, I think this strategy can be considered to optimize investment in cryptocurrencies, our investment group community has implemented this strategy to optimize investments to target bear markets.

Conclusion, we are willing to invest in bitcoin at this time but it is not supported by unstable market conditions and the price of bitcoin which is still high, we decided to invest in gold for temporary savings or can be combined with other strategies with the aim of increasing savings while waiting for a market correction .

[stadus]

This correction was the one that probably was the last one, I do not expect to have any other big corrections to be fair and I am not sure why would it even happen if you ask me as well...

Surely many people are praying and hoping this is the last adjustment before we enter the most anticipated price increase season. But I have other thoughts and hopes, I hope that there will be a final adjustment in September/October this year and that will be the last chance for those who missed the train and those who want to optimize their investment. But to be able to achieve that, I hope that by July or August the market will soon recover and grow again before another major correction. This is just my speculation and plan, I hope it will happen.
In my opinion, bull season starting at the end of the year will be the perfect time.

I have to say that price correction would still be happening most often these days despite of how eager we are we would want to put an end to that and start seeing a new all time high. Bitcoin will always be volatile, most especially if we are already in the bullish season. That is inevitable so all we have to do is remain calm and patient so we won’t resort into making wrong decisions.

But I have to agree that it’s best to see the bull run at the end of the year. It’s just that we don’t hold how bitcoin price moves in the market.

[mv1986]

Whatever the goal of OP is with opening this thread, but if we take it seriously for a second, everyone can guess what a significant correction is for a "newcomer" and what a significant correction means for the guys here who have been around for a decade. Going down from 73k USD to 58k USD isn't frightening those who are from the old days. Back then I was shocked when Bitcoin went 20% down and I thought this could be the end when there were crashes of 70% or so. If OP doesn't say what proportions are being referred to as "significant correction", then nobody can even give an idea really.

[Gozie51]

However, waiting when to invest is more likely a waste of time and opportunity. You could have invested that using your own extra money and just wait when the price will prosper. After all, bitcoin is a long term investment so one should not rely much waiting on bitcoin to fall on its dips, but learn to invest on the money that you can afford to lose regardless of the price.

This is good advise for those that have multiple source of income, they don't have to wait when they see opening to DCA when price drop at any point that they want from correction but this is not easy for some even when they know it is right time to buy but they can't afford to throw in more money that will be stocked for some time that may not be estimable. So to DCA, you really need to have lose money because you just have to be accumulating maybe without profit insight.

[Orpichukwu]

Hi all!

We all seen what Bitcoin was doing for the past month and most of us would like to get some more Bitcoin. I was waiting for a good moment to do that for about 3 weeks and in terms of buying the dip it ain't looking good.

It was consolidating for so long now! Please share your thoughts on to when another correction may be expected?

Thank you and have a good day

The time for price correction is what I can't tell, and I don't even think anyone can give an accurate prediction about that either.
 
If you have money to invest in bitcoin, I will advise you to do it the moment you have the money, and what you plan to invest in should be what you are willing to hold for a long period of time because you can invest today and the price can take a negative or positive turn the next day.

[Asuspawer09]

Hi all!

We all seen what Bitcoin was doing for the past month and most of us would like to get some more Bitcoin. I was waiting for a good moment to do that for about 3 weeks and in terms of buying the dip it ain't looking good.

It was consolidating for so long now! Please share your thoughts on to when another correction may be expected?

Thank you and have a good day

I think this might be a good moment to buy, I mean you are not really going to predict the movement in the market it's going to be difficult if you just going to wait for the best opportunity you might end up waiting for nothing and end up not buying until the Bullrun, It happened to me a lot of times so the best time to buy is right now, and do not do it on very high amounts, start to accumulate weekly or monthly in that way you could lower your risk of your investment for sure. We all recommend to do Dollar Cost Averaging since its the best and safest strategy for cryptocurrency investment, as long as you are going to sell your token on the top you're always going to end up making a good profit on it so there was no need to wait for the right timing in the market just keep on accumulating Bitcoin until you earn a huge amount.

[Smack That Ace]

Whatever the goal of OP is with opening this thread, but if we take it seriously for a second, everyone can guess what a significant correction is for a "newcomer" and what a significant correction means for the guys here who have been around for a decade. Going down from 73k USD to 58k USD isn't frightening those who are from the old days. Back then I was shocked when Bitcoin went 20% down and I thought this could be the end when there were crashes of 70% or so. If OP doesn't say what proportions are being referred to as "significant correction", then nobody can even give an idea really.

The halving has already happened and it can be said to be a sign that bear season is over if we rely on history. During bear season, it is completely normal for bitcoin to drop 50%-70% and everyone understands that it is inevitable. But cyclically, we are about to enter a bullish phase and if bitcoin drops over 20%-30% I think that will be significant and make a lot of people nervous. And as I have been following a number of investors based on charts and technical analysis, bitcoin's weekly close today is a bad sign and it is likely to continue falling. It's not the end for the market but it won't be good and could delay the bull season.

[LogitechMouse]

~

The question for you is "what is your target buying price?"
You might be waiting for a long time, and it already came to a point where you waited too much that it might not go down again or at least it will not reach the target price that you want to buy.

If you're asking if the correction has started already, I believe it happened when it dropped below $60,000 and went to as low as $57,000. That's a good time to buy some Bitcoins and other altcoins as well. If you bought at that time, then just be patient, I guess. Will there be another correction that will happen before the bull run starts? There might be, or there might not, but one thing's for sure. If you buy Bitcoin right now, and you hold it until the bull run starts, and you decided to sell at the peak of the it then you will surely make profits.

My advice is that don't wait for the perfect time to buy because you will miss more opportunities when you're doing that. Just do what others are doing which is to just do DCA.

[poodle63]

right now is probably the correction that your're looking for though, price of BTC tanked same thing with ETH, if not right now then I doubt there will be a day for it to dip within this period of bullrun.
to be fair, we're still long way from the concluding of massive price hike, regardless still a great opportunity to DCA though.

i mean you can always wait until there's dips that might drive the price to be lower than this but there's no guarantee, if I were you i'd definitely invest some to bitcoin and ethereum which i'm currently doing right now anyway.

Whatever the goal of OP is with opening this thread, but if we take it seriously for a second, everyone can guess what a significant correction is for a "newcomer" and what a significant correction means for the guys here who have been around for a decade. Going down from 73k USD to 58k USD isn't frightening those who are from the old days. Back then I was shocked when Bitcoin went 20% down and I thought this could be the end when there were crashes of 70% or so. If OP doesn't say what proportions are being referred to as "significant correction", then nobody can even give an idea really.

The halving has already happened and it can be said to be a sign that bear season is over if we rely on history. During bear season, it is completely normal for bitcoin to drop 50%-70% and everyone understands that it is inevitable. But cyclically, we are about to enter a bullish phase and if bitcoin drops over 20%-30% I think that will be significant and make a lot of people nervous. And as I have been following a number of investors based on charts and technical analysis, bitcoin's weekly close today is a bad sign and it is likely to continue falling. It's not the end for the market but it won't be good and could delay the bull season.

thats fair opinion, probably people cashing out after there's no big event, still this doesn't mean we've sunken to the pit of bearish market anyway.
there's much opportunity i believe, even if i buy the dip right now its already better odd than people who buys few weeks ago if i'm not mistaken.
so its definitely a good opportunity from my opinion.

[moneystery]

no one can predict when a significant correction will occur, because it is something that is impossible to predict. but if you want to invest in bitcoin and wait until it really corrects, i think that you won't be able to get the right time, because you will keep thinking about waiting until the price of bitcoin really falls and in the end you give up and won't invest. so instead of continuing to think doubtfully like that, it's better for you to buy bitcoin now and hold it until you really make a profit from your investment, because that's the only way to invest in bitcoin.

[lizarder]

no one can predict when a significant correction will occur, because it is something that is impossible to predict. but if you want to invest in bitcoin and wait until it really corrects, i think that you won't be able to get the right time, because you will keep thinking about waiting until the price of bitcoin really falls and in the end you give up and won't invest. so instead of continuing to think doubtfully like that, it's better for you to buy bitcoin now and hold it until you really make a profit from your investment, because that's the only way to invest in bitcoin.

You are right because if we are able to make the right predictions it will be easy for us to accumulate when the price of Bitcoin is corrected. But the problem to wait for the price is corrected we need time and the monitoring is not necessarily providing an opportunity for us to buy, because it could be when the price of Bitcoin is corrected we do not have money to buy. The steps that need to be taken for accumulation do not need to wait for the price corrected because we can use the DCA method to collect.

Bitcoin will always give birth to a four -year cycle so that it will bring up new prices and for this reason we can buy Bitcoin at any price. Waiting for the moment of correction to buy will make us doubt, because we are not able to make the right predictions. If today Bitcoin is at a high price, it could be that the next few hours there will be corrections and then go back up so that we will have difficulty deciding at how much purchase.

[enwi]

Hi all!

We all seen what Bitcoin was doing for the past month and most of us would like to get some more Bitcoin. I was waiting for a good moment to do that for about 3 weeks and in terms of buying the dip it ain't looking good.

It was consolidating for so long now! Please share your thoughts on to when another correction may be expected?

Thank you and have a good day

I think this might be a good moment to buy, I mean you are not really going to predict the movement in the market it's going to be difficult if you just going to wait for the best opportunity you might end up waiting for nothing and end up not buying until the Bullrun, It happened to me a lot of times so the best time to buy is right now, and do not do it on very high amounts, start to accumulate weekly or monthly in that way you could lower your risk of your investment for sure. We all recommend to do Dollar Cost Averaging since its the best and safest strategy for cryptocurrency investment, as long as you are going to sell your token on the top you're always going to end up making a good profit on it so there was no need to wait for the right timing in the market just keep on accumulating Bitcoin until you earn a huge amount.

It's true that market conditions will not be easy to predict, we only need to buy bitcoin using the method you mentioned above because that way we can pay off the Bitcoin purchase in installments when we have unused money, so use it to buy bitcoin. Think of the purchase as savings for later life. When we get used to doing that, everything will feel easier and our future will be guaranteed and we won't have difficulty earning money.

[AbuBhakar]

It's true that market conditions will not be easy to predict, we only need to buy bitcoin using the method you mentioned above because that way we can pay off the Bitcoin purchase in installments when we have unused money, so use it to buy bitcoin. Think of the purchase as savings for later life. When we get used to doing that, everything will feel easier and our future will be guaranteed and we won't have difficulty earning money.

Find a decent job that will give you a decent salary so that you will not rely on Bitcoin alone to solve your future needs for money, This way all your Bitcoin purchase will be easy since you are using an excess funds from your salary while you still okay in the future even if Bitcoin fails since you have a good source of income coming from your job.

It’s common mistake to rely solely on Bitcoin for your future by putting all your savings on it without considering the worst case scenario since Bitcoin is still a very volatile asset. You should save using your salary separately with your Bitcoin investment.

[justdimin]

if we are able to make the right predictions it will be easy for us to accumulate when the price of Bitcoin is corrected. But the problem to wait for the price is corrected we need time and the monitoring is not necessarily providing an opportunity for us to buy, because it could be when the price of Bitcoin is corrected we do not have money to buy. The steps that need to be taken for accumulation do not need to wait for the price corrected because we can use the DCA method to collect.

Bitcoin will always give birth to a four -year cycle so that it will bring up new prices and for this reason we can buy Bitcoin at any price. Waiting for the moment of correction to buy will make us doubt, because we are not able to make the right predictions. If today Bitcoin is at a high price, it could be that the next few hours there will be corrections and then go back up so that we will have difficulty deciding at how much purchase.

That is the toughest part, a lot of people see bitcoin go down, and they see that as a bear run and they fear so they end up selling it, we all know that when it goes down it will go up again, but the difference is not all of us think that it would be same period.

If you think that bitcoin will correct and go back up again in a month, you will not sell your coins but if you think that it will be down for a year, then you will sell your coins. Both think that it will get back to what it was, but one thinks that it will take a lot longer than the other. I personally believe that we are going to do fine, and we shouldn't worry about what we are seeing right now, it shouldn't really take long until we fix the price and go back to 74k levels.

[kentrolla]

no one can predict when a significant correction will occur, because it is something that is impossible to predict. but if you want to invest in bitcoin and wait until it really corrects, i think that you won't be able to get the right time, because you will keep thinking about waiting until the price of bitcoin really falls and in the end you give up and won't invest. so instead of continuing to think doubtfully like that, it's better for you to buy bitcoin now and hold it until you really make a profit from your investment, because that's the only way to invest in bitcoin.

There are lot of people with similar mindset and confusion because when the BTC is down they keep waiting for pump without investing into it as they have subconscious fear it may drop even further and when the market pumps they wait for dump to buy at dip, when the market is stable they wait for correction which no one can predict.

[dunfida]

no one can predict when a significant correction will occur, because it is something that is impossible to predict. but if you want to invest in bitcoin and wait until it really corrects, i think that you won't be able to get the right time, because you will keep thinking about waiting until the price of bitcoin really falls and in the end you give up and won't invest. so instead of continuing to think doubtfully like that, it's better for you to buy bitcoin now and hold it until you really make a profit from your investment, because that's the only way to invest in bitcoin.

There are lot of people with similar mindset and confusion because when the BTC is down they keep waiting for pump without investing into it as they have subconscious fear it may drop even further and when the market pumps they wait for dump to buy at dip, when the market is stable they wait for correction which no one can predict.

And with that kind of waiting up for the right opportunity would something be causing up for them to missed out tons of opportunities just because they do hinder everytime when the market do make out such movement.
Its true that when it pumps then we do wait for correction, if it corrects then we would be waiting up for its bottom and when its consolidating then you would be skipping out on making some orders or entries just because you would really be having those thoughts that it might be going up or down on the time that you do make out such buying or selling decision. If ever there's someone who would be able to know or simply be saying that everyone in the market does know on when those things to happen then everyone would really be doing on the same action which simply means that there would be no market movement or simply those volatileness since
everyone is really that waiting for the right timing.

Significant correction? It would be neither be happening or not with this current cycle. No one really knows on when it would happen.This is why it would be important
that you should really know on what you are doing.

[STT]

Best clue to a downside move is when the attempt to go upwards fails then speculators give up and it can snowball downwards through support.  At present I think the upper line to beat would be 63k and for the last couple weeks we have been below that level mostly and also the weekly average is mostly negative.

Support below would the last low at about 58k, we traded below that on May start but didnt hold there and recovered.  So those are the two indicators that must exceed and hold to show positive or negative direction.

We've gone sideways so often now for so long I dont think it'll be clear until the weekly bar shows us confirming those extreme levels and holding there.  Then you might get the greater movement.   Buying programs etc. those who want to avoid obvious moves deliberately try to get the market to go sideways by only buying into lows when they accumulate.  All of this hold pattern could resolve in a bullish way still.

[Hamphser]

Best clue to a downside move is when the attempt to go upwards fails then speculators give up and it can snowball downwards through support.  At present I think the upper line to beat would be 63k and for the last couple weeks we have been below that level mostly and also the weekly average is mostly negative.

Support below would the last low at about 58k, we traded below that on May start but didnt hold there and recovered.  So those are the two indicators that must exceed and hold to show positive or negative direction.

We've gone sideways so often now for so long I dont think it'll be clear until the weekly bar shows us confirming those extreme levels and holding there.  Then you might get the greater movement.   Buying programs etc. those who want to avoid obvious moves deliberately try to get the market to go sideways by only buying into lows when they accumulate.  All of this hold pattern could resolve in a bullish way still.

On the time that the price do tend to hit up some resistance and had been rejected without any further sentiments that backing it up and simply the volume of trade goes down then it would really be likely for us to assume that this is a strong resistance which it could cause up that rejection for a couple of times before it would be making up some kind of pattern. Just like the rest been saying above that there would be no guarantees that these things would really be working but you do have the slight idea on where it would be going. Corrections is always been part of the game and knowing it beforehand is something
that would be the main challenge for us all. If you cant be able to bare it up then this market isnt really for you.

[mv1986]

Whatever the goal of OP is with opening this thread, but if we take it seriously for a second, everyone can guess what a significant correction is for a "newcomer" and what a significant correction means for the guys here who have been around for a decade. Going down from 73k USD to 58k USD isn't frightening those who are from the old days. Back then I was shocked when Bitcoin went 20% down and I thought this could be the end when there were crashes of 70% or so. If OP doesn't say what proportions are being referred to as "significant correction", then nobody can even give an idea really.

The halving has already happened and it can be said to be a sign that bear season is over if we rely on history. During bear season, it is completely normal for bitcoin to drop 50%-70% and everyone understands that it is inevitable. But cyclically, we are about to enter a bullish phase and if bitcoin drops over 20%-30% I think that will be significant and make a lot of people nervous. And as I have been following a number of investors based on charts and technical analysis, bitcoin's weekly close today is a bad sign and it is likely to continue falling. It's not the end for the market but it won't be good and could delay the bull season.

Why would a drop of 50%-70% be inevitable? You mean like law of nature? That's nonsense. If you said that those who have been around for a long time know that this is a very real possibility, then I agree. But there is no intrinsic force that makes Bitcoin inevitable drop by the aforementioned range. I have said a couple of times in the past that I don't believe this or that is or is not possible in regards to the price, or is unlikely so to speak. But I learned that I know nothing, so I stopped predicting.

Instead I prefer to stick to my conviction that in the long run Bitcoin will go up. I believe that is the best and most upright prediction someone can give. What's the point in providing year, month and day and a price point when there is no realistic chance to get it right? Maybe the gurus have to give these answers in TV shows and on their Twitter channels to make sure their flock of sheep grows in case the gurus got lucky and get close to the prediction.

It's funny when people say that out of these 1000 gurus there are 5 who got it right. But is it these 5 who got it right, or is it almost a necessity that any 5 of 1000 gurus get it pretty right?

Since you said it is inevitable that Bitcoin will drop 50%-70%, what do you think when we get there? I want to know so I am prepared to buy the dip.