The market correction of bitcoin along with the entire cryptocurrency has begun. In a days time the market has faced a very big drop in the value. Right now everyone were with the expectation of market reaching its new ath value. Right now Whales will tend to make a big buy targeting to bump the price in a short and profit out of it.
Begun? There is really nothing shows a massive dump coming any time soon. We just experiening some pull back. We never know the future, in the distant future there will be plenty of 50% drops and 200% increases and all that, it is impossible for bitcoin to never have a 50% drop or never have a 100% increase, those will happen "one day".
However looking at the near future, it looks like nothing will be done and nothing will really make it go down. If you ask me, we are staying stronger for a while more and break over $20k and try to beat as much higher as we can breaking all the resistance points along the way and build support points instead. After that maybe some things could change but this will take at least until 2021, so there doesn't seem to be anything we need to be worried about at all.
You are right as we cannot predict whether we will see a 50% drop or 200% increase since everything is possible and we also know that even if the market collapse then still it will bounce back but we need to stay focussed and start ignoring FUD targeting Bitcoin and claiming it to be bubble as usual which thye do whenever there is a drop of even $50. Just one bad day of few good days does not define BTC or Crypto market.