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?

[Sim_card]

It is a norm that there must be a correction in the price, whenever the pump has gone high. The correction is to enable the price to pump higher than the previous price of 73k. Nobody knows if this will be the correction for the upcoming halving, but I believe that the price will still move back to 73k or above before the halving will take place. Corr tions in bitcoin price should be seen as an advantage for us to add more bitcoin to our portfolio, because we have seen how high the price has gone up, and this shows that bitcoin will hit a price above 100k this year.

[TomPluz]

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?

Losing around $6K within hours can really be scary but this is just one of the many manifestations why indeed BTC is a very volatile asset as it can go up and down erratically which can really caught us by surprise. Just like me, OP must be looking for some assurance of where the market is headed with this big correction. While we should understand that nobody can perfectly predict where BTC can be in the next 24 hours or days from now, it is good to see what can be the sentiment of the crypto market...so we can also adjust our sails along the way. According to this article here: "Bitcoin and other cryptocurrencies fell on Friday in what looked like a short-term correction after a red-hot rally in digital assets. Prices could fall further even as traders continue to be bullish on the outlook for cryptos in the months ahead. Bitcoin looks very bullish even if it witnesses a much-delayed correction in the coming days,” said Rachel Lin, CEO of trading platform SynFutures. “With Bitcoin clearly in price discovery mode, we might see a strong uptrend in the coming weeks and months.”  In my own opinion, this big correction means that there can be a bigger breakthrough after though am just one of the many faint voices in the expanding marketplace so I can be so wrong.



 

[Fivestar4everMVP]

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?

Well, I think it's wrong to say that we are witnessing the biggest correction of the year, since we aren't even half way into the year yet, this is the month of March, the third month, and we still have like nine more months to go, who knows what we can see, or to expect in the coming months.

Anyways, I would also join as many saying that the dump is a norm, to also say that it's a norm, bitcoin just recorded a new all time high at $73,000, it's normal thing to expects some dumps particularly from those who would want to be taking profit, and this is also a very good opportunity for new investors who have been on the side looking for good entry point to enter the market now in preparation for the next leg up.

I've in some of my previous posts said it that we werent in a bull market yet, the bull run will come after the halving comes and goes, this dump is a confirmation of that I believe.

[Don Pedro Dinero]

Well, I didn't expect such a correction so soon, but threads like this are a sign that there will be many individual investors who bought at the top and have now sold at a loss in fear of the end of the world. You have to keep your eyes on the long term. Corrections like this are normal in bitcoin, especially if we think that when it reached almost $74,000 everyone was in profit, and there have been a few who have taken advantage of this to take profits. We are in a bullish year, there is no need to panic.

[Gurujebs]

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?

This doesn't looks like the highest correction. The last time we hit the $70k level the first time, it dump all the down to $59k and then immediately people bought again till it hit $73k and we have not reach halving yet. It's weird this time that we cross above all time high even before halving but I think we are going to experience the new bullrun after the halving.

If we experience sell pressure anything from now before the halving, we have many supports in place like $60k, that's the lowest I think we are going to see before we take another run on this halving and I'm positive about this the next run of the market. Don't chicken out.

[Aanuoluwatofunmi]

You may be right about this, but we are only going to got the established fact the moment that we see this linger more than expected, for today, it is obvious while we cannot predict for the coming days, but i still don't want to believe that we are having this soon just as the bullrun begin very soon, but we still have more to expect and anticipate on for the bull market in subsequent days as we approach more closer to halving.

[Faisal2202]

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

Two days ago when BTC was at $72k I was told to book some of my profit and then wait for the BTC to take correction but I was lazy enough that I did not booked and now today when I saw the price I feel regret. Well what can be done now. It was a big correction and I hope we don't see big dumps even in the halving correction.

BTW is there anything like halving correction, never heard about it before. Can you shed more light on it please. I do have an idea that after halving, people might consider to book the profit and market might take some correction at that time.

[Lucius]

It's strange how people think it's normal for the price to go up 10% or more in 24 hours, but if the opposite happens, they're already in a big panic. The market is bidirectional and there are many things going on behind the scenes that affect the price of BTC.

Yesterday the news appeared that Grayscale dumped about $500 million worth of BTC, and today we read that big losses were realized in the futures market and also that longs bets were liquidated in the amount of $660 million. However, the price is slowly recovering, but occasional price corrections are still possible, although it should be emphasized that we are in a year that will very likely be marked by price growth, as it always was in the halving year.

Data shows that crypto-tracked futures suffered over $800 million losses, the second-largest figure this year. Longs, or bets on higher prices, suffered $660 million in liquidations, likely contributing to the sharp downturn. Liquidation occurs when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin.

[Charles-Tim]

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

Bitcoin dropped below $67000. It dropped to $65600. It is now around $68100.

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?

The market price of bitcoin can not continue to increase without any correction, but this will deceives some people as if bitcoin will continue fall. We are not in bear season. Some people will take advantage of it and buy at the low price which is wise. Bitcoin will get to $100000 which is what I am looking forward to see and not correction that is meant to occur which is normal.

[yhiaali3]

The correction is very expected, there is no need to worry, as much as the rise is large, there must be a large correction in order for the market to remain in a state of healthy balance.

The correction has great positive effects in that it gives a healthy balance and supports a strong base for a major launch for Bitcoin. It is also a great opportunity for those who missed buying to accumulate additional amounts of Bitcoin.

For all these reasons, we must look at the correction with great positivity, and there is no need to be afraid, because the big breakthrough has not yet begun.

[DabsPoorVersion]

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?

Well, I think it's wrong to say that we are witnessing the biggest correction of the year, since we aren't even half way into the year yet, this is the month of March, the third month, and we still have like nine more months to go, who knows what we can see, or to expect in the coming months.

Anyways, I would also join as many saying that the dump is a norm, to also say that it's a norm, bitcoin just recorded a new all time high at $73,000, it's normal thing to expects some dumps particularly from those who would want to be taking profit, and this is also a very good opportunity for new investors who have been on the side looking for good entry point to enter the market now in preparation for the next leg up.

I've in some of my previous posts said it that we werent in a bull market yet, the bull run will come after the halving comes and goes, this dump is a confirmation of that I believe.

I think what OP means by that is we are witnessing the biggest dump so far. This may not be considered a huge percentage of the decrease in the price of Bitcoin, but it may be the start of it. We all know that correction happens with more than 20% or even up to 80%.

But I also agree that this correction or the correct term we can use is, this sudden pullback in the price of Bitcoin is just a normal scenario and expected as we might about to witness another rally in the next coming week or month.

[alltalk]

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?

As far as I know, there was also a big correction a month before halving in 2020 but it was in the date 13. I think it is normal because many people probably sold their Bitcoin when Bitcoin reached the new ATH above $70k. They want to secure their profits first, then they will rebuy when there is a correction. Sure, when the supply is increasing because many people sold their Bitcoin, then the price will drop temporarily.

No, the correction isn't the impact of the halving. It is caused by the increase of the supply in the market.

[bayu7adi]

Some are taking profits at this point, because to be honest, the latest ATH this time really made Bitcoin a little over bought... if you look at the current market sentiment, then this correction will actually draw a chart that matches the previous halving moment... at least BTC won't cross below $60k again until the end of the year.

Stay safe and wait for the halving moment to arrive in time.

[Primo1760]

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?

May be the beginning of market dumping. However, the US government's announcement of selling Bitcoin above 15,000+ I think has dumped the market a bit, and since Bitcoin reached the new ATH, the market may have been dumped a bit. We all know the market will dump before the halving, maybe the market will dump before the halving and after the halving the bull run will start after a few months. But I am not at all worried about this dumping I will buy more if the market goes down and increase my investment more.