Is 40k BTC correction Still Possible?
BTC is hovering just over 43k and the corrections we all thought would happen haven't happened in the degree and manner we thought it would. There are still 7 days to the end of the year and within these periods, anything is likely and still possible, but we've seen some corrections, it just wasn't that obvious for BTC, yet the alts still bled, more than they corrected. Hive was at 37, 38 vents but corrected to 35 cents and trying to approach 36ish, but not yet.
Of course, it's not just about being an alts alone, with so many other factors in regards to the tokenomics, as well as the time not being right yet. In reality, we're all waiting for that correction, and we haven't really seen it, but will there be a correction to at least 40k before the 31st, I don't know, but the way it is, it doesn't look likely, at least not at the moment anymore. However, if this doesn't happen, maybe January might be a month of corrections, infact the whole of 2024 might be all about corrections, the first, second, and third quarters might be stagnant, and not much movement, then everything blows up in the fourth quarter.
For me, I don't really see the alts moving much in the first three quarters as well. Maybe BTC might, but not the alts. I still feel that some people can still load up their bags till the third quarter of next year, but after that, it's full-blown bull market. Why do I think we might not see much movement in the first 3 quarters?
I don't really know, it's just me trying to predict. However, this might be different if we see the spot ETFs earlier. Maybe at the end of the first quarter or the beginning of the second, but if not, the market might still do the regular thing, but with a certainty, BTC should hit and surpass its previous ATH in the last quarter of 2024.
From my perspective, everything bull market will begin in the last quarter of 2024, and this is when I feel that alts will really come to the party. For now, 2024 comes with a lot of uncertainty. The SEC and Gensler might have something different in mind for the spot ETFs, maybe another lawsuit or another wild goose chase. No one currently knows what the SEC has lined up, and will it influence price and market sentiment?
Maybe, maybe not, but the SEC will definitely make headlines in 2024, it's more like them. So, we might not see a noticeable correction till January, and it's good to note that the market is finishing on a solid note for the year's end.
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I like how you opened the post. ANYTHING is possible. Especially looking at the strong unchecked upward momentum we’ve seen in BTC recently, if a correction will come soon, chances are that the correction will be heavy as it will set the new support.
Honestly, every time we talk about alts and look at Hive’s performance relative to other alts, it gets more disappointing. Solana is what I like to describe as the hottest thing on the market right now. What is has done in the past month, even BTC hasn’t. Solana that people were loosing hope about when it touched $18. The imminent correction is the only reason I haven’t tried to day trade Solana. Just when you think it’s hit it’s peak before a correction, it does a mew unbelievable high. Damn.
As for hive, it's not it's fault. More people are choosing HBD, and also the sell pressure is high as well too. So it'll take a while, especially since it's one of those alts that blooms late. However, hive will eventually do it's magic, it'll take a while. As for the year ending, anything is possible.
BTC price action is strong. It did not break the 21-day average downward in the last pullback. A new pullback that breaks 41k USD down would surprise me.
I'm surprised too, and it's something that's not a lot of people predicted. However, I still feel we'd get that correction along the way. But it's a good thing at least for the closing of the year
It look impossible for btc to perform any magic before the year runs out
I think we could have a pullback soon when I look at the BTC short interest building up. Regarding the bull run, I think this hinges more on the Fed pivot to get the party started, so the 3rd Qtr sounds about right.
Yeah, I also feel that we might have that pullback soon, but it's not looking like it might be this year anymore. You're right about the feds, they're definitely going to start the ball rolling, and a lot might need to happen before the Feds begins to make any movement
I actually don’t think this is possible anymore and if it will happen, it may be in the middle of January. I don’t think any magic can happen but at the same time, cryptocurrency is crazy, lol
We might see a crazy pump before the new year
I'm pretty certain BTC will scrape the $50,000 mark before the halving next year. Anyways whatever happens I prepare for the next crypto market opportunity by holding lots of assets as I can hodl.
I think we're going to hang around 43 until next year. After that all bets are off..... The SEC is just too unpredictable, and right now they're all on Christmas vacation.
How are you holding up my friend?
!BBH
@josediccus! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @thebighigg. (11/20)
Good to know that there's still time to accumulate before the bull run, the FOMO sometimes have us believing otherwise. I also think BTC will stay stable-ish throughout the rest of the year. But strong movements could be expected during the first quarter of 2024.
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We might still fall further I strongly believe
I think it will be tough for this year but anything is possible. I think there is much less volume now that people are on holidays so it's possible for it to jump up to that price during this period.
If Bitcoin continues to trade in the same place, we will see a altseason within the next two to three months.