When the market is bullish or even bearish, there will always be a correction because it is impossible for the price of Bitcoin to always rise during bullish times and also during bearish times to always fall.
Exactly. Correction is always needed whether it is in bullish or bearish. If there is no correction, there will be no chance to accumulate again Bitcoin at a cheaper price.
That is a very strange statement, and maybe I don't know what you mean.
It is almost as if you have not studied the actual bitcoin charts and/or maybe you have not lived through various periods in which corrections were expected but they did not end up happening, even though there seemed to have had been a lot of folks expecting such corrections to happen.
For example if bear whale twats were to have gotten their way, we would still be stuck below $500. .. and mid-2016 was not the ONLY time that we ended up experiencing a break UPpity and never to return, in spite of the whining about corrections needed blah blah blah.
Of course, it is impossible that the market will always keep increasing because there should be time for investors for selling their assets.
Sure no problem.. but what are you saying about our current position?
There is no rule that there needs to be further correction from here.
There is also no rule that the BTC price might have done another doubling or trippling from the current $73,794 top from March 13. We have been in 4 months of consolidation, and yeah, I am not saying that I know anything, but I do get a bit worked up when I see members proclaiming that a correction has to come blah blah blah.. I have seen that plenty of times, and in my experience sometimes corrections come and sometimes they dont// so there is nothing even that assured about when they are going to happen, how low they will go or how long they will last, so again, it seems quite strange to me to be seeing such words of confidence regarding further corrections from here that may or may not end up happening.
Not all investors set their assets for a long term, some of them may take profits in a short term.
They might call themselves investors, but it sounds like you are describing a trader rather than an investor.
When the investors sell their assets, there should be a correction because there will be too many supplies on the market.
That sounds good in theory, yet how can you determine if the sellers out number the buyers or the other way around?
Currently, the price of Bitcoin is experiencing a correction and the factor of long-term holders who are reportedly taking profits so that the price of Bitcoin is experiencing pressure but long-term holders will not sell all of their possessions because they know that the price of Bitcoin is still targeting higher prices this year
Yep. I heard that Fidelity and Grayscale decreased the number of their Bitcoin. Grayscale got loses around $579 million in Bitcoin ETF. This may lead them to not so confident anymore to increase the number of Bitcoin. Other big investors may also follow them because of the same problem related to Bitcoin ETF market. It looks like the hype of Bitcoin ETF news has over already.
https://www.tronweekly.com/grayscale-bitcoin-etf-loses-over-half-a-billion/Your description of the situation is weird. Yep, for the past two weeks, several of the BTC spot ETF providers are having outflows that are greater than inflows, but so what? The BTC spot ETFs provide an avenue for investment that had not previously been available, and the persons (and institutions and governments) that use the BTC spot ETF as their means to get BTC price exposure can buy BTC and they can sell BTC, so when they do that, then the ETF provider has to either buy or sell BTC in order to hold BTC that is mostly reflective of the number of their ETF shares that they have sold.
Overall the ETFs provide more avenues in and out of BTC, and surely the folks buying and selling BTC might choose to get in and out of BTC rather than being longer term BTC holders.. it is there choice whether they want to buy BTC or not yet BTC spot ETFs they are still getting ways to get such BTC price exposure.. and so you can believe what you want in terms of current inflows/outflows.. if you believe that outflows out pace inflows and/or whether those inflows/outflows are going to have significant effects on overall BTC price movements and in what timeline...if you might be a trader or an investor. I would suggest that an investor would be one who would stay in bitcoin for at least a whole cycle, but likely even longer than that, so 4-10 years or longer, so if some folks are fucking around with getting in and out of bitcoin on shorter timelines then that is their choice.. seems a bit dumb, but whatever, people have their preferences... including that there are likely still a lot of people missing out on getting into bitcoin and getting a position in bitcoin so that they might have more options 4-10 years or longer down the road.. depending on their on individual particulars.
At the end of this month, my prediction is that Bitcoin prices will reach $70,000, and next month there is a big chance that Bitcoin will reach the latest ATH, and $100k will likely be reached this year.
I'm not sure about this. I even heard the prediction that we may drop to $60k again. We are not in the condition that there is a trigger to pump the price back to $70k. I think this correction will last until the end of this month. Another rally or net pump may be in the next month.
Well there is ONLY a bit over a week left in the month of June.. so whether the BTC price goes up or down from here for the remainder of this month is still to be seen... It seems that we are kind of in a consolidation zone between $55k and $82k, so I am not going to get too excited while we are still in such range . .and I also consider that the odds are slightly in favor of up rather than down within the range, but I am not going to make any proclamations in regards to how long that we might stay here.. .. and so earlier based on ongoing BTC ETF inflows (that seem to be less than positive in more recent times), I had been thinking that there were pretty decent odds that the BTC price could get to $120k to $180k this year and then end up consolidating in that range through the remainder of 2024 and then maybe have some kind of a higher ATH in 2025.. but yeah, just merely passing thoughts about probable areas that I am still not giving up upon. .even though surely short-term momentum does not seem to be heading up. at least not yet..