Bitcoin’s price movements are often characterized by significant rises and corrections. It should be noted that in every bull cycle, Bitcoin may experience at least one double-digit correction as it moves towards a new price peak. This is due to the volatile nature of the crypto market and can be seen as a window of opportunity for experienced investors.
Cryptocurrency analyst CryptoJelleNL to your observation According to , no Bitcoin (BTC) cycle has peaked without double-digit corrections. This manifests itself as a clear trend in Bitcoin’s price movements. These corrections, which occur every cycle, have turned into exciting buying opportunities for investors. However, one notable point is that these correction patterns vary from cycle to cycle.
When we examine the price movements of Bitcoin, we see that while there is generally an acceleration towards the top, there are various corrections during this acceleration. Taking a look at past bull cycles, it becomes clear that Bitcoin experienced a series of painful corrections in the 2016-2017 cycle. These corrections resulted in a decline of between 30-45% in Bitcoin price, with an average retracement of 32%. However, in the subsequent bull cycle, declines were observed to be more moderate as Bitcoin moved towards the ATH (all-time high). There were five major corrections and the average loss reached only 24%.
Four major corrections and an average pullback of 21% so far this cycle should attract the attention of Bitcoin investors.
If @CryptoJelleNL calculations are valid, the $46,000-$47,000 region will be the best zone for Bitcoin enthusiasts interested in “buy the dip” opportunities.
At press time, Bitcoin (BTC) is trading at $61,683. As a result, there is a high probability of at least one double-digit correction as Bitcoin’s price moves towards new highs. However, these corrections should generally be viewed as short-term fluctuations and do not impact Bitcoin’s long-term growth potential. Therefore, investors should focus on their long-term goals and be patient with price fluctuations.
You can follow the current price movement here.
