Bitcoin Bull Market Corrections Examined: What To Expect When Crypto Corrects
For all intents and purposes, Bitcoin is back in a bull market. But even bull markets don’t always simply move upward in a straight line. Along the way, the road gets rocky, and violent and volatile corrections wipe out weeks of progress made in a matter of one or two. Data shows that past bull market corrections average roughly 37% in downside, according to iconic career commodities trader Peter Brandt. If a similar correction follows […]
Related News
Veteran trader Peter Brandt has implied in a tweet that bitcoin will go through deep price corrections before it gets to the $200,000 mark. Brandt points to the 2015-17 bull run when bitcoin went through similar corrections about nine times as the precedent the crypto asset might follow. More Corrections Expected Consequently, Brandt is asking his Twitter followers to predict the number of similar 30% price corrections that they expect to see before BTC ultimately gets to the $200,000. Already, as Brandt explains in the tweet, the crypto asset has gone through one such correction since....
Bitcoin has experienced a sharp price drop in recent days, but one well-followed crypto analyst remains undaunted. Popular chartist Egrag Crypto says Bitcoin is still in a bull market, even with the pullback. He believes what is happening now is only part of a larger repeating pattern that has played out since the end of 2022. According to him, this cycle is not over yet, and the market still has another strong upward move before an actual bear phase begins. Bitcoin Holds Strong Above Key Levels Egrag Crypto explains that Bitcoin follows a clear pattern that has been in place since....
Bitcoin price is chasing after $18,000, but the shorter consolidation phase of this rally has led some analysts to expect a blow-off top. Bitcoin price is steamrolling toward $18,000, and excited traders are calling for the top-ranked digital asset to overtake the 2017 all-time high at $19,763. Unless you're a bear, reaching a new all-time high is great. But ideally, for a sustainable rally to maintain its pace, a staircase uptrend is more beneficial than a sudden upward climb. In recent weeks, BTC has continuously surged higher without prolonged consolidation periods or any major....
Bitcoin has fallen sharply over the past 30 days, falling from a record high of 109k to a low of 77k this week, a level that was last seen in November last year. This puts losses at almost 30%. Many investors fear a bear market, which is typically measured by a drop of 20% from a recent high in stock indices. However, a 30% decline in crypto doesn’t automatically mean that it has entered a bear market, given the high levels of volatility that are often seen in crypto pricing, and an even deeper selloff could still be on the cards. But these corrections are very normal in Bitcoin’s bull....
At this point, no one can deny that Bitcoin has begun a new bull market. The 500% rally and new all-time high in 2020 is all the evidence that is needed. But that doesn’t mean that corrections won’t soon come, and according to VanEck’s digital asset director, Gabor Gurbacs even a +50% price drop will […]