2024

Bitcoin

when

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
No Bitcoin (BTC) cycle has reached its peak without undergoing double-digit corrections, as pseudonymous trader @CryptoJelleNL has noted. All of them were spicy buy opportunities, but their patterns are changing cycle by cycle.
<h2 id="bitcoin-btc-dropping-by-20-25-would-open-buy-the-dip-opportunity">Bitcoin (BTC) dropping by 20-25% would open "buy-the-dip" opportunity</h2>
Bitcoin (BTC), the largest cryptocurrency, might see at least one double-digit correcton on its way to a new price high. Once it drops by 20-25%, an opportunity window opens for BTC bulls, as explained by a seasoned crypto investor who goes by @CryptoJelleNL on X.
<blockquote>
 Corrections are an essential part of a <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> bull market -- but with each passing cycle, the dips become shallower.This cycle, it looks like ±20-25% will be the sweet spot for dip-buying.Your job is to be ready to take advantage when it comes. <a href="https://t.co/xrI7iKfiPR" rel="noopener noreferrer nofollow">pic.twitter.com/xrI7iKfiPR</a>— Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1763574018093859035?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 1, 2024</a>
</blockquote>
Such corrections are registered every cycle. However, as the market is getting more and more mature, the dropdowns become smaller.&nbsp;
To provide context, in the 2016-2017 cycle, BTC went through seven corrections that were very painful. They erased 30-45% of the Bitcoin (BTC) price each, with 32% as the average pullback.
The next cycle that pushed BTC toward its current all-time high (ATH) mark was far more forgiving for bulls: with five dropdowns, the average loss only reached 24%.
This cycle has only seen four major corrections so far, with an average pullback of 21%. As such, traders should be ready for at least one ugly red candle, data shows.
<h2 id="bitcoin-s-btc-local-high-10-lower-than-2021-ath">Bitcoin's (BTC) local high 10% lower than 2021 ATH</h2>
Should @CryptoJelleNL calculations be valid, the $46,000-$47,000 zone is the best one for Bitcoiners interested in "buy-the-dip" opportunities.
By press time, Bitcoin (BTC) is changing hands at $61,683 on major spot exchanges. In the last week, it added over 20% and peaked one step away from $64,000.
This mark is less than 10% below its all-time high registered on Nov. 10, 2021, at about $69,000.

Bitcoin (BTC) 25% Drop in Cards, Historical Data Shows

목차

U_Today

2024년 3월 1일에 게재된 다른 기사

Winklevoss Twins’ Biopic Charts Their Bitcoin Journey to the Big Screen

VanEck Launches SegMint, an NFT Marketplace with a “Lock & Key” Sharing Model

Bitcoin ETFs Experience Surge in Investor Inflow as Market Dynamics Change

Token.com's Pioneering Platform: A New Dawn for Crypto Interaction

Menyoroti Strategi Whale Bitcoin dan Peringatan dari Analis

Binance Adds Axelar (AXL) to Its Trading Platform

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!