A Deep or Correction?

[Asiska02]

On another perspective, the price of Bitcoin got to the highs of $108k+, could it be that the whales in the market took out some profits to open a new entry level? Cause this also happened when Bitcoin first touched $104k we experienced something of this same nature.

What do you guys think about the current market situation? Let's hear your thoughts about this. Thanks.

What the market is experiencing now is not something that can be avoided, you cannot continue to have a bullish market all through without the market having some correction along the way. I think this is what we are experiencing now even though it is most likely that the correction is tied to news from the government, their little effect of the market.

I remember that bitcoin after reaching and crossing $100K for the first time, we saw the market going bearish for a while before the bulls took over and we saw it rally above $108K to record another new all time high. The whales may have taken some profits and it may be that the market is waiting for confirmation from Donald Trump on his promises for bitcoin before we see the next move of the market.

[Bobcrypto]

I think it is a normal correction. Crypto market will be green again soon. January should be the big pump for crypto coins. According to some experts, Q1 2025 may be the peak of this bullrun season.

Yeah, nothing to panic about. Any dip up to the level of $85k would be still within the normal price action, similar to the previous cycles.
After dipping to $92.5k area, we somewhat stabilised at the $97k level. I expect we might go a bit lower tomorrow, given weekends are usually not very great for pumping and the volume not being that high. But we'll most likely be back to above $100k in a few days from now.

Yeah, a dip to $90k to $86k levels is what some analyst are predicting, though i am looking at this price renge too before the next uptrends movements, probably first quarter of 2025.
I am expecting a massive demand for Bitcoin especially if Donald Trump commences implementation of his Bitcoin promises in early 2025. We needed some immediate action plans in the crypto economy from this regime to hit a new record.

[rdluffy]

Yeah, a dip to $90k to $86k levels is what some analyst are predicting, though i am looking at this price renge too before the next uptrends movements, probably first quarter of 2025.
I am expecting a massive demand for Bitcoin especially if Donald Trump commences implementation of his Bitcoin promises in early 2025. We needed some immediate action plans in the crypto economy from this regime to hit a new record.

If the United States announces in advance that it will buy BTC to use as reserves, I predict that the market could start buying a lot of BTC to get ahead of a possible very high purchase that could push up the value.
And with this very high demand, we could see BTC reach 150k very quickly, or even more, who knows

It's also important to note that if the opposite happens, one or two bad news could cause the price to fall again

[Sim_card]

The bear market has not yet started, this is just a price correction based on my speculation we are still going to experience some bullish momentum to above $110k further before the price will go bearish and could go down to $80k. If the bearish movement start fully, we could even see Bitcoin come down to $75k and that's not going to be this year.

I feel what you speculate above wouldn't happen in this circle but after the bull run, because after the bull run comes the bear market. We are only having market corrections and nothing more. The price of bitcoin would bounce back and make a new ATH, so no cause for alarm. This is an opportunity to buy back because the price is moving sideways.

[pawel7777]

It's really good to see we successfully defended $94k-$95k and bounced back to almost $99k.
Some technical analysts predicted that we might go down to $80k or even $70k levels if there isn't enough support at $95k. And I think many could find it too hard to just sit on their hands and watch the price fall by that much.
Hopefully that's enough for a correction for now.
The Fear & Greed index and the dominance are looking pretty good, indicating there's still a lot of room for further gains.

[rdluffy]

It's interesting to note that even after the correction, BTC is above the value it ended November at, with a 1.86% appreciation
 

Source

However, if history repeats itself, we could still see a 10% rise to end December even better, probably above 100k
What do you think?

[pawel7777]

We were almost back to the $100k (at $99,800) at the start of the day. But it looks like the enthusiasm got curbed and we're testing the $95k level yet again. If support holds, we might see buyers regaining confidence and we could finish the year with a proper Santa Claus rally, that could take the price to the new ATH. But if the support fails, the correction might continue, some say we could drop even to the seventies.
Anyhow, patience is advised, nothing that is happening is new and we've seen similar patterns in the previous cycles.

[yhiaali3]

We were almost back to the $100k (at $99,800) at the start of the day. But it looks like the enthusiasm got curbed and we're testing the $95k level yet again. If support holds, we might see buyers regaining confidence and we could finish the year with a proper Santa Claus rally, that could take the price to the new ATH. But if the support fails, the correction might continue, some say we could drop even to the seventies.
Anyhow, patience is advised, nothing that is happening is new and we've seen similar patterns in the previous cycles.

Bitcoin has gone down a bit and is now at around $97K, but I am confident that we will see a new all-time high next year.

According to an article I read yesterday on CoinMarket, there are strong support points at $90K and $85K and breaking these resistances could take us to the $72K area, but despite that there is no need to be afraid because this is a temporary correction and Bitcoin will soon resume its upward path again.

[armanda90]

Bitcoin has gone down a bit and is now at around $97K, but I am confident that we will see a new all-time high next year.

According to an article I read yesterday on CoinMarket, there are strong support points at $90K and $85K and breaking these resistances could take us to the $72K area, but despite that there is no need to be afraid because this is a temporary correction and Bitcoin will soon resume its upward path again.

Its predicting by CZ with bitcoin potential drop until $85k but latest most lowest price of bitcoin around $90k before success faster recovering and up to $97k. Have few days left before end this year and firstly the Christmas day have been pass looks not get trouble for bitcoin will drop more lower price.
In my prediction, bitcoin have possibility will raise more higher price again after latest correction and potential reach up to $100k looks easily, waiting few days later and the end of this year how much increasing of bitcoin price but always prepare if bitcoin get another correction moment again.

[taufik123]

-snip-
In my prediction, bitcoin have possibility will raise more higher price again after latest correction and potential reach up to $100k looks easily, waiting few days later and the end of this year how much increasing of bitcoin price but always prepare if bitcoin get another correction moment again.

It may also wait for Trump's inauguration to happen, but the beginning of the year will be a good start for Bitcoin.
There are a lot of investors who are starting to come in and now the price of Bitcoin is still stable in the $95k-$100k price area,
although some drops are always happening but very fast to make a reversal.

The market is still being played and held towards the end of this year.
But I believe this correction is needed to make the price of bitcoin even higher to break the new ATH again later.

[yhiaali3]

In my prediction, bitcoin have possibility will raise more higher price again after latest correction and potential reach up to $100k looks easily, waiting few days later and the end of this year how much increasing of bitcoin price but always prepare if bitcoin get another correction moment again.

Yes, reaching $100k again seems very easy, we have the yearly close in a few days and it is very positive to close above 100k so that we can welcome the new year with more positivity.

I expect the market to be quiet during the Christmas and New Year period but I expect a big rise after that before Trump takes office and during the first three months of his term and then after that Bitcoin could start to decline, this is my personal view.

[kulkhan]

In my prediction, bitcoin have possibility will raise more higher price again after latest correction and potential reach up to $100k looks easily, waiting few days later and the end of this year how much increasing of bitcoin price but always prepare if bitcoin get another correction moment again.

Yes, reaching $100k again seems very easy, we have the yearly close in a few days and it is very positive to close above 100k so that we can welcome the new year with more positivity.

I expect the market to be quiet during the Christmas and New Year period but I expect a big rise after that before Trump takes office and during the first three months of his term and then after that Bitcoin could start to decline, this is my personal view.

Yes i also think Bitcoin price will reach $100k again. Now Bitcoin price decreasing. Now Bitcoin price $94k. I think from here to reach $100k is very easy which we saw few days ago. We think it is not big deep it os only correction. We know every big pump correction happen. So it it not others things it is also correction for Bitcoin price.

We know begaining of this years Bitcoin halving has been happen. And US government approved Eft. So it has positive impact And recently US election result published and Donald Trump elected as US president. Donald Trump is positive person about Cryptocurrency. So within short time it’s import on cryptocurrency market and market will bull again. So i think now only correction happening not big deep.

[UNIVERSE]

Bitcoin has gone down a bit and is now at around $97K, but I am confident that we will see a new all-time high next year.

According to an article I read yesterday on CoinMarket, there are strong support points at $90K and $85K and breaking these resistances could take us to the $72K area, but despite that there is no need to be afraid because this is a temporary correction and Bitcoin will soon resume its upward path again.

We don't know if it can hit a new ATH again in the next year. It is possible that $108k is the highest price of Bitcoin in this cycle.

It is just a rumor, may be like a random speculation. I ever heard that CZ who said that. I think we don't need to think much about it. In my opinion, it will be safe as long as Bitcoin price is still above $90k. It is no doubt that it is only a temporary correction, it will end soon in Q1 2025.

[Stuart]

Yeah, a dip to $90k to $86k levels is what some analyst are predicting, though i am looking at this price renge too before the next uptrends movements, probably first quarter of 2025.
I am expecting a massive demand for Bitcoin especially if Donald Trump commences implementation of his Bitcoin promises in early 2025. We needed some immediate action plans in the crypto economy from this regime to hit a new record.

If the United States announces in advance that it will buy BTC to use as reserves, I predict that the market could start buying a lot of BTC to get ahead of a possible very high purchase that could push up the value.
And with this very high demand, we could see BTC reach 150k very quickly, or even more, who knows

It's also important to note that if the opposite happens, one or two bad news could cause the price to fall again

Trump has made a speech on acquiring Bitcoin for Fed Reserve come 2025, which I know this will have a very serious impact in the crypto industry. Other top countries will also want to do so, countries like Russia and China (these are countries who wants to be heard of in the world) which some other countries that will not make a public voice out will also do the same.

Though, I have only made a little transaction on Bitcoin network recently, what it says is due to high demands, there will be delay in your BTC arriving your wallet. Who knows what's already going on, as the space is of anonymity to all transactions going through the network.

Bitcoin touched $93k, if it falls below $90k to $85 or below, then the bear is here.

[yhiaali3]

Bitcoin has gone down a bit and is now at around $97K, but I am confident that we will see a new all-time high next year.

According to an article I read yesterday on CoinMarket, there are strong support points at $90K and $85K and breaking these resistances could take us to the $72K area, but despite that there is no need to be afraid because this is a temporary correction and Bitcoin will soon resume its upward path again.

We don't know if it can hit a new ATH again in the next year. It is possible that $108k is the highest price of Bitcoin in this cycle.

For me, I don't consider $108k as the highest price for Bitcoin in this cycle, I'm almost sure it will reach at least $120-150 and it could reach $180k at the peak at the end of next year.

Of course, these are all just speculations that can be right or wrong, but there are a lot of positive things that the market will do next year that make me sure that we will reach these numbers, let's wait and see.