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Author Topic: When is next significant correction coming?  (Read 1069 times)
TravelMug
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May 15, 2024, 10:18:20 AM
 #101


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.

I think even if you have one job, you can still do DCA and buy Bitcoin through your salary but you need to budget everything to the tee so that you won't touch your investment and just continue to do it day in day out. And with that it's going to be a hard grind for us average investor. But for me, it can be done though, going to be hard but possible to accomplished to start during the bear market, accumulate up to this day thru DCA. But as others have said with this strategy, you really need to be prepared and have the patience and. As for the question of the OP with regards to the correction coming, we are still trading sideways after the halving and did dip to $57k'ish so that could be the best time to buy.

R


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lizarder
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May 15, 2024, 05:05:40 PM
 #102

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.
As we discussed before and it happened because they didn't understand the bitcoin journey process. Panic occurs due to the inability to recognize the bearish process, even though this process occurs naturally and can never be separated. But they forget that after this process occurs there will be a time when bitcoin will experience a gradual recovery and will return to initial price support before reaching the four-year cycle. Investments will be fine when someone understands bitcoin, the correction process that occurs a month or a year will not become a panic when we fully understand the four-year cycle process that will occur.

This period that occurred in the near future is an illustration of how Bitcoin corrected and found a recovery point again. I am quite optimistic regarding the current price of bitcoin and in fact I hope there will be another correction to accumulate purchases. Calm is needed when investing in Bitcoin because even if there is a correction, we will always see a recovery afterwards.

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May 15, 2024, 05:37:03 PM
 #103

I think even if you have one job, you can still do DCA and buy Bitcoin through your salary but you need to budget everything to the tee so that you won't touch your investment and just continue to do it day in day out. And with that it's going to be a hard grind for us average investor. But for me, it can be done though, going to be hard but possible to accomplished to start during the bear market, accumulate up to this day thru DCA. But as others have said with this strategy, you really need to be prepared and have the patience and. As for the question of the OP with regards to the correction coming, we are still trading sideways after the halving and did dip to $57k'ish so that could be the best time to buy.
Setting aside some money to buy Bitcoin using the DCA method is very good, but we must still be smart in managing our financial conditions. If it is going to be bearish then it is better to collect money in USD first. After that, wait for the Bearish time to arrive and buy as much as possible. However, we also must not regret it when the bull run comes before the bear run occurs. Because that is one of the risks of the decisions we choose.

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May 16, 2024, 08:52:36 PM
 #104

I think even if you have one job, you can still do DCA and buy Bitcoin through your salary but you need to budget everything to the tee so that you won't touch your investment and just continue to do it day in day out. And with that it's going to be a hard grind for us average investor. But for me, it can be done though, going to be hard but possible to accomplished to start during the bear market, accumulate up to this day thru DCA. But as others have said with this strategy, you really need to be prepared and have the patience and. As for the question of the OP with regards to the correction coming, we are still trading sideways after the halving and did dip to $57k'ish so that could be the best time to buy.
Setting aside some money to buy Bitcoin using the DCA method is very good, but we must still be smart in managing our financial conditions. If it is going to be bearish then it is better to collect money in USD first. After that, wait for the Bearish time to arrive and buy as much as possible. However, we also must not regret it when the bull run comes before the bear run occurs. Because that is one of the risks of the decisions we choose.
Always set or having those stash of funds or having those money whenever these things could happen on which on the moment that the market would be making its correction then you do find yourself to be that prepared on which this is something this is really that recommended because once you dont have money or funds and then suddenly the market would be making out that significant correction then you would definitely be finding yourself on such condition that you had missed out that opportunity on buying more. Whether we do like it or not, the market would be having those downs and then later on it would really be having that recovery on which it would be giving out that opportunity that you could make money out of those movements.

If you wont really be taking up any action then you are just basically wasting up those opportunities on making money or profits. So this is why you would really be needing to be wise and be attentive when it comes to these kind of conditions on which its something that you could be able to play with those volatility and make money on the moment that you have done the right decisions.
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May 16, 2024, 09:15:35 PM
 #105

I think even if you have one job, you can still do DCA and buy Bitcoin through your salary but you need to budget everything to the tee so that you won't touch your investment and just continue to do it day in day out. And with that it's going to be a hard grind for us average investor. But for me, it can be done though, going to be hard but possible to accomplished to start during the bear market, accumulate up to this day thru DCA. But as others have said with this strategy, you really need to be prepared and have the patience and. As for the question of the OP with regards to the correction coming, we are still trading sideways after the halving and did dip to $57k'ish so that could be the best time to buy.
Setting aside some money to buy Bitcoin using the DCA method is very good, but we must still be smart in managing our financial conditions. If it is going to be bearish then it is better to collect money in USD first. After that, wait for the Bearish time to arrive and buy as much as possible. However, we also must not regret it when the bull run comes before the bear run occurs. Because that is one of the risks of the decisions we choose.
DCA is perfect for those who have consistent flow of money regardless of how big or small it is. However, if you have a lump sum amount of money, then just wait for the dips to come or when the bearish market appears, that way you can invest your money at the highly potential coins like bitcoin and maximize their quantity while their price are still cheap and affordable. Expect that you will gain a massive returns when you decide to sell them during a bull run.

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May 17, 2024, 11:05:43 AM
 #106

I think even if you have one job, you can still do DCA and buy Bitcoin through your salary but you need to budget everything to the tee so that you won't touch your investment and just continue to do it day in day out. And with that it's going to be a hard grind for us average investor. But for me, it can be done though, going to be hard but possible to accomplished to start during the bear market, accumulate up to this day thru DCA. But as others have said with this strategy, you really need to be prepared and have the patience and. As for the question of the OP with regards to the correction coming, we are still trading sideways after the halving and did dip to $57k'ish so that could be the best time to buy.
Setting aside some money to buy Bitcoin using the DCA method is very good, but we must still be smart in managing our financial conditions. If it is going to be bearish then it is better to collect money in USD first. After that, wait for the Bearish time to arrive and buy as much as possible. However, we also must not regret it when the bull run comes before the bear run occurs. Because that is one of the risks of the decisions we choose.
DCA is perfect for those who have consistent flow of money regardless of how big or small it is. However, if you have a lump sum amount of money, then just wait for the dips to come or when the bearish market appears, that way you can invest your money at the highly potential coins like bitcoin and maximize their quantity while their price are still cheap and affordable. Expect that you will gain a massive returns when you decide to sell them during a bull run.

I prefer to accumulate a large amount of money and wait for a strong correction to happen than to use DCA monthly, but we also need to note what stage of the market we are in. I mean, if we are in a bear market like 2022, we should pool a large amount of money and wait for the most opportune moment and buy in large quantities. But if we are in a pre-bullish period like now, using the DCA strategy will be more effective because bitcoin can increase at any time, bull season will strike at any time.

It will be very risky for those who are hesitant or waiting for a big correction to go all in, because the bull season can come at any time.

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May 17, 2024, 02:31:40 PM
 #107

If you keep waiting for the right moment, then you will never find the right time to buy Bitcoin because the price changes very quickly. No one knows when the right time is. If they could accurately predict when is the right time to buy, there would be so many investors competing to buy and you would never hear of investors having to hold their assets longer due to the price being corrected too deeply.
The right time to buy is when you are ready to enter the market equipped with funds ready to invest and are able to be patient when the price is corrected after you make a purchase.

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May 17, 2024, 04:39:43 PM
 #108

So far the price of bitcoin has often been between $60k-$65k, if the price of bitcoin rises above $65k it is possible that it will fall back below $65k. so in my opinion when the price corrects below $65k is a good time to buy. However over time market conditions can change, especially since the Bitcoin halving has started. meaning that at any time the price of bitcoin can rise drastically and waiting for the price of bitcoin to correct can cause you to lose the best momentum to buy bitcoin.

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May 17, 2024, 06:08:25 PM
 #109

If you keep waiting for the right moment, then you will never find the right time to buy Bitcoin because the price changes very quickly. No one knows when the right time is. If they could accurately predict when is the right time to buy, there would be so many investors competing to buy and you would never hear of investors having to hold their assets longer due to the price being corrected too deeply.
The right time to buy is when you are ready to enter the market equipped with funds ready to invest and are able to be patient when the price is corrected after you make a purchase.
If you have a budget ready to invest, then you can still place a buy order at the price you want; Of course below the current trading price. Instead of waiting for the price to correct, I tend to think this method is useful if you are willing to consider the risks of using a centralized exchange. Another way to buy a lump sum at a low price is to continuously monitor market conditions. You can get notifications from several price monitoring application which you can then use to make purchases. This investment strategy is also implemented by some investors, so there is nothing wrong if you adopt it too.

However, the price of bitcoin could still experience a large correction in the future. We have learned a lot about how the market works, so it is not impossible that Bitcoin will lose half of its highest price in the future, especially after many holders sell their holding.
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May 17, 2024, 06:51:24 PM
 #110

If you keep waiting for the right moment, then you will never find the right time to buy Bitcoin because the price changes very quickly. No one knows when the right time is. If they could accurately predict when is the right time to buy, there would be so many investors competing to buy and you would never hear of investors having to hold their assets longer due to the price being corrected too deeply.
The right time to buy is when you are ready to enter the market equipped with funds ready to invest and are able to be patient when the price is corrected after you make a purchase.
If you have a budget ready to invest, then you can still place a buy order at the price you want; Of course below the current trading price. Instead of waiting for the price to correct, I tend to think this method is useful if you are willing to consider the risks of using a centralized exchange. Another way to buy a lump sum at a low price is to continuously monitor market conditions. You can get notifications from several price monitoring application which you can then use to make purchases. This investment strategy is also implemented by some investors, so there is nothing wrong if you adopt it too.

However, the price of bitcoin could still experience a large correction in the future. We have learned a lot about how the market works, so it is not impossible that Bitcoin will lose half of its highest price in the future, especially after many holders sell their holding.
We even have the best opportunity right in our face to Buy Bitcoin because what is ahead of in terms of the price increase we about to witnessin fact, you will even regret why you didn't buy at this price levels we have when you must have found out it was way cheaper to compare where we are headed to, So If one knows TA very well, It will become easy to spot good buying levels to get in right now, Today we've kissed $67k price level which I'm expecting the price to go crush $73k area and head up if you don't now buy in my opinion, you might not have this opportunity again, Therefore take advantage of slight pullbacks we will be getting in this and fill up your positions in the market, for there is no perfect point to get in, buy at a level, Hodl and get out when you are good.

R


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May 17, 2024, 08:24:15 PM
 #111

So far the price of bitcoin has often been between $60k-$65k, if the price of bitcoin rises above $65k it is possible that it will fall back below $65k. so in my opinion when the price corrects below $65k is a good time to buy. However over time market conditions can change, especially since the Bitcoin halving has started. meaning that at any time the price of bitcoin can rise drastically and waiting for the price of bitcoin to correct can cause you to lose the best momentum to buy bitcoin.

Buying bitcoin BTC at 65K$ or buying at 60K$ makes no difference when you look in the long run. Think that the bitcoin Bull market price is 150,000$, so this difference of few thousand dollars won't make much difference. Yes, the only thing that can ruin your life is that you keep on waiting for 60,000$, the price never reaches there and you miss out on buying bitcoin. That is the most painful thing you can experience in your life.

Another thing that many people experiences is that they keep on waiting for lower bitcoin prices, but when they see bitcoin is going up and up, they buy at higher prices out of frustration of not missing out. In the above example, it is better to buy now at 67,000$ and not panic buy at 99,000$  Wink

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May 17, 2024, 09:36:42 PM
 #112

If you keep waiting for the right moment, then you will never find the right time to buy Bitcoin because the price changes very quickly. No one knows when the right time is. If they could accurately predict when is the right time to buy, there would be so many investors competing to buy and you would never hear of investors having to hold their assets longer due to the price being corrected too deeply.
The right time to buy is when you are ready to enter the market equipped with funds ready to invest and are able to be patient when the price is corrected after you make a purchase.

Don’t chase for the perfect timing to invest or trade, but chase every opportunity that comes so you won’t keep missing them. Trying to wait for the next significant correction is never bad, but you are wasting some golden time with bitcoin as you can always invest as long as the price has not reached its peak yet. However, if you can enter the market while there is correction, much better, but it should not serve as your barrier that would stop you not to invest in bitcoin at its current price, regardless if there’s no correction happening at the moment.

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May 17, 2024, 09:43:58 PM
 #113

-snip-
Don’t chase for the perfect timing to invest or trade.
Why not, it can still be done if you are really patient.
A trader doesn't have to trade every day to make a profit, but they can still make huge profits even if they trade 1 to 2 times a year. You definitely know what the scenario is, so waiting for the right time to invest or trade is not wrong.

Another consideration, prices will fall and rise over time. You can take advantage of dips to buy and profit when prices rise. The easiest example to find is, someone who had a large budget at the end of 2022 and bought bitcoin at around $16k has seen high returns in 2023 and 2024.

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May 17, 2024, 11:15:49 PM
 #114

-snip-
Don’t chase for the perfect timing to invest or trade.
Why not, it can still be done if you are really patient.
A trader doesn't have to trade every day to make a profit, but they can still make huge profits even if they trade 1 to 2 times a year. You definitely know what the scenario is, so waiting for the right time to invest or trade is not wrong.

Another consideration, prices will fall and rise over time. You can take advantage of dips to buy and profit when prices rise. The easiest example to find is, someone who had a large budget at the end of 2022 and bought bitcoin at around $16k has seen high returns in 2023 and 2024.

They can make huge profits when they get out much higher than they got in. You are mentioning time frames like a year, but when you are around for long enough, you could have easily known that one year as a fixed investment time frame can go very wrong in Bitcoin. We have had what some people tend to call the crypto winter and those can take a very long time.

There is no perfect timing that you can lay out as a plan. Whether your timing was perfect or not can be judged in retrospect. The perfect timing might be a thing when you are someone from a very knowledgeable circle in the industry and you knew a few things that others don't. Otherwise chasing the perfect timing as an average investor is nonsense. Luck decides whether you got it perfect or not.

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May 18, 2024, 05:34:24 PM
Merited by Fatunad (1)
 #115

-snip-
Don’t chase for the perfect timing to invest or trade.
Why not, it can still be done if you are really patient.
A trader doesn't have to trade every day to make a profit, but they can still make huge profits even if they trade 1 to 2 times a year. You definitely know what the scenario is, so waiting for the right time to invest or trade is not wrong.

Another consideration, prices will fall and rise over time. You can take advantage of dips to buy and profit when prices rise. The easiest example to find is, someone who had a large budget at the end of 2022 and bought bitcoin at around $16k has seen high returns in 2023 and 2024.
Too much patience would really be not that good all the time because you would really be missing out tons of opportunities on which we know that this could something that will really be ending up for you to have
that regret on not to make any action even further. We do know that opportunities do really come and go, but it is really just that right that you would be patiently waiting for the right entry or exit on which
it is really that always been that recommended. You cant really make that perfect timing consdering this market is really that unpredcitable. Market correction coudl really be always that lurking on the side on which it would really be that so hard for us to tell on when it would happen.

Basing up on TA's? Yes it could be possible. with FA's? Yes you could be able to apply but we do all know that it isnt really that 100% accurate or something that will really be giving out
assurance that it could happen. This is why it would really be advisable that you should really be that setting out those plan B's or C's and so on.

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May 19, 2024, 12:50:38 PM
 #116

current market likes to do sudden correction with wide enough price gap, you can just wait until next opportunity to arrive, usually the price just gonna go up and down, but you can also cause yourself to lose the chance to invest, since the price literally can go up anytime right now.
the market looks rather bullish again as of now, but who knows whether there will be correction or the market instead just keep going up none of us gonna know.
thats why people are investing with DCA to not miss the opportunity.
you can always wait for the next price correction but there's always no guarantee that you will find one, but I guess if you are so hesitant you should just wait for next correction instead.
you won't lose your money but you will lose opportunity at most.

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May 19, 2024, 01:20:06 PM
 #117

-snip-
Don’t chase for the perfect timing to invest or trade.
Why not, it can still be done if you are really patient.
A trader doesn't have to trade every day to make a profit, but they can still make huge profits even if they trade 1 to 2 times a year. You definitely know what the scenario is, so waiting for the right time to invest or trade is not wrong.

Another consideration, prices will fall and rise over time. You can take advantage of dips to buy and profit when prices rise. The easiest example to find is, someone who had a large budget at the end of 2022 and bought bitcoin at around $16k has seen high returns in 2023 and 2024.
agreed with your statement that says a trader can only profit 1 to 2 times a year and still can make up for entire living expenses of a decade, its matter of how good the trades are , if you can profit so many from just having one profitable trade it will be enough, instead of trying to find as much opportunity available which mostly result in us overtrading that also gonna lead to loss.
a trader back then that long with high leverage on solana when it was still $12 are probably already making millions right now with just one good trade, opposite to people who just keep overtrading pumping up that quantity over quality resulting in mediocre profits will just pay higher exchange fee and ended up with mediocre profit as well.
it just doesn't make sense how people keep pursuing opportunities for the sake of peanuts profit daily instead of massive trade of the decade with millions of profit just longing or shorting altcoins.

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May 19, 2024, 01:59:39 PM
 #118

First time in 4 days we challenge the 2 day average, so some correction to end the weekly bar might occur today.    I dont always expect much on a Sunday just for it to hold however Japan opens trading in about 9 hours I think which can bring on the mainstream volume to break our comfortable position.

65k is a trendline and 50 day average, if we lose that something greater can happen but recently the price action has just been self correcting itself to minimal movement.   The next correction is not especially on the horizon just yet.

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May 19, 2024, 09:51:14 PM
 #119

First time in 4 days we challenge the 2 day average, so some correction to end the weekly bar might occur today.    I dont always expect much on a Sunday just for it to hold however Japan opens trading in about 9 hours I think which can bring on the mainstream volume to break our comfortable position.

65k is a trendline and 50 day average, if we lose that something greater can happen but recently the price action has just been self correcting itself to minimal movement.   The next correction is not especially on the horizon just yet.

After briefly dropping below $66k, I hope bitcoin can return to maintaining support at $66k when it recovers. The market has been very greedy lately, the fear and greed index shows that the behavior of traders in the market is bearish, but I hope this is only about today.

I certainly don't expect a big price drop this year, but it is possible next year especially if bitcoin has reached the peak of its bull run. I expect a big increase until the end of the year, but trading data and past market behavior in different months will have little influence on traders' interest.
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May 20, 2024, 09:49:00 AM
 #120

So far the price of bitcoin has often been between $60k-$65k, if the price of bitcoin rises above $65k it is possible that it will fall back below $65k. so in my opinion when the price corrects below $65k is a good time to buy. However over time market conditions can change, especially since the Bitcoin halving has started. meaning that at any time the price of bitcoin can rise drastically and waiting for the price of bitcoin to correct can cause you to lose the best momentum to buy bitcoin.
Now Bitcoin's price range is back at $67K and I see no big price correction in recent days. But for people who want to buy for investment purposes, it is still not wrong for everyone to continue doing so at the current price because I myself am also still quite confident in the potential for Bitcoin to pass the price of $70K again this year. So moments like now still have to be paid attention to and also utilized well so that there is no feeling of regret when you see the price of Bitcoin which is much higher than now.

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