The Bitcoin (BTC) course has fallen by roughly 28% since the all-time high, and that makes many investors restless. Was this already the bullmarkt that we have been waiting for years?
Although nobody can predict the future, we can look back on earlier bull markets. And then the current correction appears to be relatively modest.
Bitcoin has stood for hotter fires
It seems like an eternity ago, but about five weeks ago Bitcoin reached his highest price ever of around $ 109,400. That happened on January 20, the day that Donald Trump was sworn in as president of the United States.
Crypto investors were full of expectations. The promised strategic national Bitcoin reserve in particular was bored. Although a crypto stock is being investigated, the first weeks of the new government did not exactly go as they had hoped. On the contrary, Trump has shaken the market with its import duties.
Bitcoin has had a big swing on his ears and reached its lowest race this week since 10 November from $ 78,219. That means that the BTC price has fallen in total with a little more than 28%.
The leading crypto analyst stretched Capital reminded his hundreds of thousands of X followers this week that Bitcoin had much sharper first corrections in previous bull markets. In 2013, Bitcoin got a slap of -75%, in 2017 the price fell by -34%, and in 2021 there was a correction of -31%. The current decrease is therefore relatively mild.
What is striking is the duration of this correction. In 2017 the dip lasted only three weeks, and in 2021 the market was recovered within four weeks. This time the correction seems to last longer, but in a historical perspective there is no reason to panic.
BTC Bullmarkt does not seem to be over yet
The Dutch crypto analyst Jelle also keeps his head cool. He writes that in the past the bull markets always reached their peak more than a year after the Bitcoin Halving.
- After the first halving it took 357 days
- After the second halving it took 518 days
- After the third halving it took 546 days
We are not even on 300 days after the halving, so we would have to have to go for that.
But as always, the past offers no guarantee for the future. Anyway we are facing an interesting period.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/bitcoin-met-28-onderuit-maar-eerdere-correcties-waren-extremer/
