Bitcoin Correction: Is Accumulation Starting?

[ndutndut]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

In fact, if you want to invest in Bitcoin for the long term, just looking at the current market doesn't require much analysis. If you look at the last ATH price and the current price, there's already been a significant drop. So, if you ask whether this is an accumulation phase of course even if the Bitcoin price drops again, it won't result in a loss if you look at the last ATH price and as long as you hold it for the long term.

Just look at the current chart. Bitcoin price has fallen sharply from its ATH of $126,000, then stabilized around $66,000 since early July after a $58,000 drop. So, with the drop already reaching 50%, it's likely difficult to drop any lower. While it's still possible for further falls due to economic uncertainty or other factors, there's nothing to fear because Bitcoin price follows a cyclical pattern. After a sharp decline, there's bound to be a sharp rise.

[Johnlomape]

The market offers more buying opportunity and with the way the market is going, I believe the chances of it dipping more is there . However, The issue of whether bitcoin is in accumulation phase or not depends on the investor because for those that will be holding for a long term they can buy bitcoin at any price without being bothered of whether it is bearish season or not.

The market can dip at anytime and that is why we need to be prepared for anything that can happen in the market at anytime.
I don't know what will be the fate of traders from now to August but it's not something we need to panic about.
Price will frequently disagree with our analysis which means a lot to every traders out there that are looking for ways to become profitable and make money from the crypto market. It has become somehow hard these days to make money from the market due to the way the price of Bitcoin has been moving up and down like a car without direction.

[M47AK16]

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

There is a possibility of price fallen below $60K but nothing below $50K, In this sense i don't consider it a heavy fall. The year started at $97K and we touched the bottom of $58K last month, the big gap is the biggest drop we will experience through out the year, any further crash is in respect to market condition, with whales selling, aside this, I don't think there will be any further large drop.

For that to make sense to you (a further drop) you need to look at the previous bottoms and how they happened. We have seen bear markets before and all of them had a period where they were not really that much of a one time thing. No bear market happened just one big drop and then stopped, we had multiple drops. Also if you look at previous ones, you will see that it ranged anywhere between 70% to even above 80% drop from ATH prices. So we can safely say, we do not know how much it will fall, but keep doing your DCA may help here after.

You do not need to be lumpsum investor in bear market but you need to be consistent which must be a proven strategy while bears are dominating. Keep DCA active and you will be all fine when bulls get into action for sure.

[Zoomic]

Going by the analysis of few experts I follow, there's a high chances that we'll experience another bearish run before a bullish wave that will likely push Bitcoin above 67k.

It's difficult to time the exact bottom, I wouldn't be doing that.

I think it's a good time to accumulate, if it drops further, another opportunity to increase my holdings.

[Issa56]

In fact, if you want to invest in Bitcoin for the long term, just looking at the current market doesn't require much analysis. If you look at the last ATH price and the current price, there's already been a significant drop.

It’s really a good time to buy if you are planning to invest in bitcoin for long period of time. Bitcoin price have been dropping for some time now, and we can see that bitcoin price has dropped so low now, so even if you buy at the current price, am not expecting much drop from bitcoin price again, so buying now is really a good buy.

If you are scared that bitcoin price is going to drop more, and you don’t want to buy all at once, you can just make use of DCA strategy, you can be buying it gradually, so even if the price drops more, you going to keep on accumulating. Anyone buying bitcoin currently is just kind of lucky to me, but don’t think bitcoin price is going to start pumping from the current price, we might experience more dip before things will bounce back.