Beginning of the Dumping Market?

[bitterguy28]

Now we are witnessing the biggest correction of the year  Bitcoin dropping to 67k once again from the ATH of 73k

https://coinmarketcap.com/currencies/bitcoin/

Want to look for valuable source if are we having Correction or we are now starting to see the dumping effect of the incoming halving?

According to my analysis, the 17%–20% correction in the market has not yet been met, but once the percentage that I mentioned is achieved, we will be in an uptrend again, and the price values of the cryptocurrency that is on the top list in the market will increase.

What made you think that we will be in uptrend after dumping into 17-20%? is there anything that you can show us to believe what you are saying or this is just your complete analyzation ?
because I am looking for a concrete answer from at least  some  analyst or those good in reading graphs.

Right now, we see all red in the top cryptos, apart from Bitcoin, of course. But I also believe that Bitcoin will not fall below 60k$; that's all I see in my technical analysis so far.

nice, so you are good in TA? if you are then I may try to  be convince .

[Power420]

The market peaked at 73K this March in 2024.  But Urdumukhi place has come down from 73k to 62k at present. I think the reason for the price dumping at this time is positive because only investors can reap the most benefits when the price of Bitcoin goes up and down. As we are very close to the halving, and opportunities have arisen for Bitcoin investors this is the only good opportunity to invest. If you invest now, you will have to wait until 2025 to reap the maximum benefits.

[Gurujebs]

The market peaked at 73K this March in 2024.  But Urdumukhi place has come down from 73k to 62k at present. I think the reason for the price dumping at this time is positive because only investors can reap the most benefits when the price of Bitcoin goes up and down. As we are very close to the halving, and opportunities have arisen for Bitcoin investors this is the only good opportunity to invest. If you invest now, you will have to wait until 2025 to reap the maximum benefits.

With the sell pressure and the halving coming up, I think the support of $61.9k and $59.6k before we might bounce up again. This isn't even halving correction yet, this is the correction that emanated from Bitcoin ETF and very soon, halving dump with come which is always sharp decline and then correct fastly before we start another run.

One thing about this year bull run, I'm not too certain how far we are going to go but the fact that bitcoin was accepted in the range of $40k, we should do atleast 5x in this bullrun and expect the $100k above region before coming down to $60k again for another bear market.

[Sim_card]

Now we are witnessing the biggest correction of the year  Bitcoin dropping to 67k once again from the ATH of 73k

https://coinmarketcap.com/currencies/bitcoin/

Want to look for valuable source if are we having Correction or we are now starting to see the dumping effect of the incoming halving?

According to my analysis, the 17%–20% correction in the market has not yet been met, but once the percentage that I mentioned is achieved, we will be in an uptrend again, and the price values of the cryptocurrency that is on the top list in the market will increase.

What made you think that we will be in uptrend after dumping into 17-20%? is there anything that you can show us to believe what you are saying or this is just your complete analyzation ?
because I am looking for a concrete answer from at least  some  analyst or those good in reading graphs.

Right now, we see all red in the top cryptos, apart from Bitcoin, of course. But I also believe that Bitcoin will not fall below 60k$; that's all I see in my technical analysis so far.

nice, so you are good in TA? if you are then I may try to  be convince .

Not all analysis will be correct, because it is impossible to get the accurate price movement of bitcoin, so I will assume that it is speculation. What I have to say is that we should hodli and wait till after the halving and not to join the weak hands who bought due to FOMO, when the price was 73k, and sell of. A lot of investors were taking profit, amd this was why we are seeing this level of correction in the price of bitcoin.

[therozaq]

Not all analysis will be correct, because it is impossible to get the accurate price movement of bitcoin, so I will assume that it is speculation. What I have to say is that we should hodli and wait till after the halving and not to join the weak hands who bought due to FOMO, when the price was 73k, and sell of. A lot of investors were taking profit, amd this was why we are seeing this level of correction in the price of bitcoin.

The current correction is quite sharp from the increase in the price of bitcoin which has touched $73K then fell quickly to $63K, many are panicking and thinking whether this is the end of the bull run, this is just a downside and we have to wait for the bitcoin halving to find out the strength of the market.

[Rubel007]

Market conditions may behave differently this year compared to other years as we are seeing Bitcoin ETF trading for the first time. Usually a small news can cause a big fall. But any dip will not last. As far as I know the market will correct a bit but while the market is correcting GBTC has reported about their losses. If there is a correction in the market, there will be loss. But since Grayscale disclosed its losses, I think the market started to go down further. However, there is no chance for the market condition to go too dip. Because we are standing in front of Halving. Investors must avoid listening to the rumours.

[MRY]

The market peaked at 73K this March in 2024.  But Urdumukhi place has come down from 73k to 62k at present. I think the reason for the price dumping at this time is positive because only investors can reap the most benefits when the price of Bitcoin goes up and down. As we are very close to the halving, and opportunities have arisen for Bitcoin investors this is the only good opportunity to invest. If you invest now, you will have to wait until 2025 to reap the maximum benefits.

I think the price at $73k is the new ATH which will be reached in 2024. The price of bitcoin can rise again usually after the halving occurs. Currently there may be bad news circulating which ultimately makes many miners sell the results they have saved for decades. until finally the price of bitcoin on exchanges collapsed like it has recently.

[Jamal Aezaz]

Yes, the new investors will buy Bitcoin when the market is in the correction. During the price skyrocketed, they didn't brave to buy Bitcoin, now they have the chance to buy. I'm sure the price of Bitcoin will increase again soon because there is a significant increase of trading volume. A higher demand, there should be a chance for a higher price.

Now the time is to collect bitcoin if someone don't have so those who regret after realising that market is higher and bitcoin reached to 73k$ but they did not have any of bitcoin so they will surely buy bitcoin presently.

Now the market is under correction and price of bitcoin is 67k$ so buying currently will be profitable as halving will bring new ATH price. At the price of 73k$ people get feared of investment a they consider it as a risk but now they can easily take their position if they have money.

[JoyMarsha]

4 days back when this post was made, bitcoin was $67k but today it has fallen to $63k. That's how a known volatile market operates. It can increase in price in days to give someone profits and at the same way decrease in days without any knowledge of, what leads to the increase or decrease of price.

In regards to the current situation of the market, I think the market will have a correctional price before halving and it will push Bitcoin price to $60k.

Let's see what unfolds as we draw near to halving the season since we have already to see a new ATH before having happens.

[Cantsay]

I think the price at $73k is the new ATH which will be reached in 2024. The price of bitcoin can rise again usually after the halving occurs. Currently there may be bad news circulating which ultimately makes many miners sell the results they have saved for decades. until finally the price of bitcoin on exchanges collapsed like it has recently.

I think it`s still too early to make this type of prediction - remember that this sudden increase in price took us all by surprise and we are still in the early months of 2024 meaning there are still many events that could take place which would ultimately affect the price of bitcoin ( halving included).

I am still positive on the price rising to beat the current ATH. I'll take note of this thread and as soon as a new ATH is created I'll come back and reply here (hopefully I wont be waking a dead thread by then).

[debra]

I think the price at $73k is the new ATH which will be reached in 2024. The price of bitcoin can rise again usually after the halving occurs. Currently there may be bad news circulating which ultimately makes many miners sell the results they have saved for decades. until finally the price of bitcoin on exchanges collapsed like it has recently.

$73k has been reached, it is a new ATH. I'm very sure the price of Bitcoin will increase again after this dump. In the end of this month, the price should increase again because we will have Bitcoin halving in the next month. The current price drop isn't only caused by bad news, the big supply in the market may also influence it. Some people may sell their coins because it already increased high. And drop also can be caused by the manipulation of the whales. They want buy more before the halving and altcoins season.

[Baofeng]

I think the price at $73k is the new ATH which will be reached in 2024. The price of bitcoin can rise again usually after the halving occurs. Currently there may be bad news circulating which ultimately makes many miners sell the results they have saved for decades. until finally the price of bitcoin on exchanges collapsed like it has recently.

$73k has been reached, it is a new ATH. I'm very sure the price of Bitcoin will increase again after this dump. In the end of this month, the price should increase again because we will have Bitcoin halving in the next month. The current price drop isn't only caused by bad news, the big supply in the market may also influence it. Some people may sell their coins because it already increased high. And drop also can be caused by the manipulation of the whales. They want buy more before the halving and altcoins season.

I agree with you, even if we are seeing a big dump, from $73k-$63k still we haven't get into the bitcoin halving, the most important event this year and for the bull cycle to start.

So if I will have to predict it, maybe at the end of the year we might be as close to $100k. Yes, I said it right, we might be getting closer to 6 digits after the bull run, so it's going to be so big and massive that everyone will be very happy in December 2024.

[tranthidung]

I agree with you, even if we are seeing a big dump, from $73k-$63k still we haven't get into the bitcoin halving, the most important event this year and for the bull cycle to start.

So if I will have to predict it, maybe at the end of the year we might be as close to $100k. Yes, I said it right, we might be getting closer to 6 digits after the bull run, so it's going to be so big and massive that everyone will be very happy in December 2024.

I don't predict the market but in my opinion, there will be possibly another dump phase to drag Bitcoin down to about $51,000 to $53,000.

From the latest ATH to current price, it is about -15% drawdown but to clean up the market, I bet that it will drop more to like -20% or -30%.

I have a thread about it

• Bitcoin: Bull Market Correction DrawDowns
• https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59

You can zoom in to see the chart with different time frames like 1Y.

A deeper drawdown might (or might not) happen but even if it happens, it won't be a nightmare for true Bitcoin investors. It will be great chance for true Bitcoin investors to buy a f* dip and in a big bull run, dips are chances to buy, not to sell.

There are changes in capital rotation from old investors to new investors but it shows that this bull run still have big room to rise more. See

• New investors
• Capital rotation

New investors

The inflow of new investors shows a local maximum for the last year, but in each cycle, the number of new investors has decreased.

Assess the current state of the inflow of new investors and compare it with the history of the last 11 years.

Capital Rotation
Look at the capital rotation in cycles 🔵 of old and 🟠 new investors. In previous cycles, the dominance of new investors lasted for 18 and 6 months before the peak.

In the current cycle, it has lasted for 2 months.

[Wiseman]

I don't predict the market but in my opinion, there will be possibly another dump phase to drag Bitcoin down to about $51,000 to $53,000.
From the latest ATH to current price, it is about -15% drawdown but to clean up the market, I bet that it will drop more to like -20% or -30%.
I have a thread about it

A lot of things can happen, the most important thing is what you wrote (now the reset phase) this phase is just a common occurrence with strong growth, personally I don’t think that there can be a strong fall now, the market is very overheated and it will not be possible to cool it down very much (I could of course be wrong ) since such predictions are essentially fortune-telling and not a forecast)) we just know that the market has turned around and will fall for some time, but this year growth is guaranteed by 100% and this is unambiguous and those who hold coins should not throw them away for fear of losing everything , they just need to wait it out.

[NikeFit_7777]

a reasonable correction in my opinion, there is a possibility that with this correction there will be many investors who enter again, because they are waiting for the opportunity for this correction to lead to the bullrun ahead,
Sometimes I also wonder at people, prices rise rapidly in how many hours, they ask what's wrong, and vice versa,
This should only be for beginners, if you have been in crypto for years, there is no need to panic because you already understand the cycle of travel, between ups, downs and corrections.

Or they'll drive the hamsters in and go test below 55k. As always, no one knows what's gonna happen tomorrow. Don't forget, the market is manipulative. Whatever the big players want to do, they will do. And they will manipulate until they get enough income. If you enter a deal, do it on small amounts + observing risk management. + Do not do it for all your funds. 

Interesting news: "Bitcoin briefly dipped below $9000 on BitMEX (spot) yesterday."