I've noticed lots of new people in the space lately so I wanted to assemble something that may be helpful to those unfamiliar with the history of Bitcoins
historical corrections. I call it the Bear Attack Record. History doesn't repeat itself but it certainly rhymes. Bitcoins
Bullmarkets consist of many smaller parabolic runs. Each parabolic run is followed by 30-40% correction with a 36% average. This is actually normal for Bitcoin
. It did it 7 times during the last 3 year Bull Market as shown above. We have yet to have that correction on this rally after 3 months of a parabolic movement upwards of 150%. Does Bitcoin
NEED to correct 36-40%? before reaching $10K? No, it certainly doesn't but it's more likely than not given it's past behavior, especially after such a parabolic run over the last 3 months. The bulls need to rest and a 30-40% pullback is the equivalent of 8 hrs
of sleep. If Bitcoin
corrects 30% from $9K, that puts us right around $6K. I will certainly be buying at these prices!