The Bitcoin Correction!

The current price of Bitcoin is down but I believe there is nothing to worry about because it is a correction and in the market, it is very normal. Whenever we see some significant price increase in the market then after some time a little correction is expected and this correction is good because we just can't expect the price to keep on going upside down every time and that's where a correction is pretty much important.

When correction happens in the market then some more people enter the market and that is what plays an important role in the price for any asset class so similarly it is also applicable to Bitcoin price. Now the current tries for Bitcoin is around 107K US dollars whereas its all-time high price was about 111K US dollars. This price we have seen a couple of days back and I don't think the correction we see now is anything to worry about because it is very little and even a 5 to 10 percent correction seems to be normal.

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Let's see how the market goes in the next couple of days or maybe the next few weeks and what value we are going to see for Bitcoin in the market. Maybe we will move ahead and the price will cross 110K once again or maybe we will see even more correction that can push the price in the range of 105K US dollars so in both ways we just cannot predict what is going to happen.

I'm still keeping an eye on the overall Bitcoin price movement and trying to understand how it is going to be but again nothing is predictable in the current situation. What are your thoughts about it and do you think that the next move is going to be upside or downside?

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