{"id":487402,"date":"2022-04-01T23:00:58","date_gmt":"2022-04-01T23:00:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=487402"},"modified":"2024-06-11T14:18:53","modified_gmt":"2024-06-11T14:18:53","slug":"why-the-latest-correction-is-good-for-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/why-the-latest-correction-is-good-for-bitcoin\/","title":{"rendered":"Why The Latest Correction Is Good For Bitcoin"},"content":{"rendered":"

Bitcoin has finally corrected downwards after being on a bull rally for the better part of this week. This is an expected development for a digital asset that has grown so much in such a short time. However, while some in the market lament this downtrend, it is important to look at what a correction like this might mean for the digital asset. Because it may do more good than harm in times like these.<\/p>\n

Is This Correction Bad?<\/h2>\n

For any upward recovery, there is bound to be a correction. This can be either good or bad depending on the circumstances surrounding the market movements. This time around, bitcoin has begun a recovery trend after making significant gains earlier this week. Now, for the present market, this looks to be more of a good thing for the digital asset given where the price has landed.<\/p>\n

Related Reading |\u00a0Bitcoin Mining Difficulty Eyes New ATH As Block Production Ramps Up<\/a><\/strong><\/em><\/p>\n

Bitcoin had been able to hit as high as north of $47,000 during its last rally. This had helped to cement the cryptocurrency\u2019s place in the bull trend. However, after building up so much momentum, there was bound to be a drawback and the result of that has been a declining value.<\/p>\n

These kinds of corrections during bull rallies are always good. This is because they allow overbought indicators the change to reset their values to become good enough once more for investors. Paving the way for even more money to come into the market in the wake of the correction.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC support level at $45K | Source: TradingView.com<\/a><\/pre>\n
Naturally, there remains a support zone that the digital asset may not fall below<\/a>, hence it becomes a problem for the asset. As long as bitcoin is able to hold above $45,000, then the power still firmly rests in the hands of bulls meaning that the cryptocurrency is likely to continue in its current bullish path. If this is the case, then bitcoin may very well see a big bounce coming. Most likely during the weekend when there is less liquidity in the market.<\/p>\n
Bitcoin Needs To Hold<\/h2>\n
In the short term, bitcoin has no problems registering a bullish trend. The main pain point now remains to solidify this position over the long term and in order to do this, the digital asset has to beat the 100-day simple moving average. It is already trading above this but it remains a small margin. If the bottom of this correction can stop above $45,600, then this BTC will revert to a bullish trend over the long term.<\/p>\n
Related Reading |\u00a0Possible Timelines For Bitcoin To Hit $100k: Why CEOs See Bullish Signs<\/a><\/strong><\/em><\/p>\n
It remains a buyer\u2019s market although how long this last will be determined by the performance over the next week. A proper break above $47,000 will once again set the stage for another massive rally. However, $48,000 will be a hard-fought battle given low momentum.<\/p>\n
\"Bitcoin<\/p>\n
BTC trading above $45,000 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Featured image from FXComfort, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has finally corrected downwards after being on a bull rally for the better part of this week. This is an expected development for a digital asset that has grown so much in such a short time. However, while some in the market lament this downtrend, it is important to look at what a correction like this might mean for the digital asset. Because it may do more good than harm in times like these. Is This Correction Bad? For any upward recovery, there is bound to be a correction. This can be either good or bad depending on the circumstances surrounding the market movements. This time around, bitcoin has begun a recovery trend after making significant gains earlier this week. Now, for the present market, this looks to be more of a good thing for the digital asset given where the price has landed. Related Reading |\u00a0Bitcoin Mining Difficulty Eyes New ATH As Block Production Ramps Up Bitcoin had been able to hit as high as north of $47,000 during its last rally. This had helped to cement the cryptocurrency\u2019s place in the bull trend. However, after building up so much momentum, there was bound to be a drawback and the result of that has been a declining value. These kinds of corrections during bull rallies are always good. This is because they allow overbought indicators the change to reset their values to become good enough once more for investors. Paving the way for even more money to come into the market in the wake of the correction.\u00a0 BTC support level at $45K | Source: TradingView.com Naturally, there remains a support zone that the digital asset may not fall below, hence it becomes a problem for the asset. As long as bitcoin is able to hold above $45,000, then the power still firmly rests in the hands of bulls meaning that the cryptocurrency is likely to continue in its current bullish path. If this is the case, then bitcoin may very well see a big bounce coming. Most likely during the weekend when there is less liquidity in the market. Bitcoin Needs To Hold In the short term, bitcoin has no problems registering a bullish trend. The main pain point now remains to solidify this position over the long term and in order to do this, the digital asset has to beat the 100-day simple moving average. It is already trading above this but it remains a small margin. If the bottom of this correction can stop above $45,600, then this BTC will revert to a bullish trend over the long term. Related Reading |\u00a0Possible Timelines For Bitcoin To Hit $100k: Why CEOs See Bullish Signs It remains a buyer\u2019s market although how long this last will be determined by the performance over the next week. A proper break above $47,000 will once again set the stage for another massive rally. However, $48,000 will be a hard-fought battle given low momentum. BTC trading above $45,000 | Source: BTCUSD on TradingView.com Featured image from FXComfort, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":487407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,83970,79520],"class_list":["post-487402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btucsdt","tag-xbtcusd"],"acf":[],"yoast_head":"\nWhy The Latest Correction Is Good For Bitcoin<\/title>\n<meta name=\"description\" content=\"Bitcoin has finally corrected downwards after being on a bull rally for the better part of this week. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why The Latest Correction Is Good For Bitcoin","url":"http:\/\/uniquehot.com\/news\/why-the-latest-correction-is-good-for-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/why-the-latest-correction-is-good-for-bitcoin\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/04\/bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/04\/bitcoin.jpeg?fit=1200%2C800"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","btucsdt","xbtcusd"],"dateCreated":"2022-04-01T23:00:58Z","datePublished":"2022-04-01T23:00:58Z","dateModified":"2024-06-11T14:18:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why The Latest Correction Is Good For Bitcoin\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/why-the-latest-correction-is-good-for-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/why-the-latest-correction-is-good-for-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/bitcoin.jpeg?fit=1200%2C800\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"btucsdt\",\"xbtcusd\"],\"dateCreated\":\"2022-04-01T23:00:58Z\",\"datePublished\":\"2022-04-01T23:00:58Z\",\"dateModified\":\"2024-06-11T14:18:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/04\/bitcoin.jpeg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/487402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=487402"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/487402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/487407"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=487402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=487402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=487402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}