Nov 16, · But even Bitcoin corrects during bull markets, and when it does, the results can be violent. According to Peter Brandt, who famously predicted the over 80% decline from top to bottom based on nothing but data from past parabolic breakdowns, Bitcoin bull market corrections decline roughly 37% on average. 1 day ago · advertisement The broader crypto market has entered a strong correction losing 4% or $34 billion over the last hours. While Bitcoin (BTC) takes a dive below $23, levels, it still continues to extend its dominance in the market. At press time, BTC is trading at $22, with a market . 2 days ago · Bitcoin and the entire crypto market has been caught in the throes of an intense bout of consolidation over the past few days, with bulls and bears both battling for control of its price action. While buyers have not yet been able to push the cryptocurrency above $24,, there’s a strong possibility that this level will be visited in the.
Market correction bitcoinBitcoin Bull Market Corrections Examined: What To Expect When Crypto Corrects
In our latest crypto news , we learn more about the new SEC Chairman. After her tweet, the community got extremely excited because of his remarks towards crypto regarding digital assets and initial coin offerings, and blockchain. Congratulations, Chairman Roisman! I look forward to your leadership of the SEC. It is essential that the SEC Approach towards these new challenges in a fair and transparent manner will give us some more clarity and certainty to make the markets and the investors safer and to enforce laws that will hold the market participants accountable.
This is interesting now especially since many institutional investors are already joining the bandwagon. Right after the lawsuit, the price of the coin dropped. Securities, the asset class that the SEC regulates, refer to investment contracts. The Clayton-era SEC has spent much of the past three years working out whether cryptocurrency tokens constitute investment contracts. If one coin creator marketed the coin as an investment, investors would not buy the tokens to use them in the crypto network but rather on the future worth of the token which had not registered sales of the coin with the SEC but the agency could chase after the projects and will sue.
In his resignation letter, Clayton tanked his SEC staffers that worked with him since and also thanked them for the service to investors, the markets, and the country.
XRP, the fourth largest cryptocurrency was on a freefall for the past couple of days post the SEC lawsuit against its parent company Ripple. Many trade pundits called it a dead-end for XRP and believed that the token would practically become untradable owing to the security accusations made by the Security and Exchange Commission SEC.
The crypto-token also lost its long-held third spot to Tether owing to the massive dump. Another factor that might have played a part in the recent pump could be the relief offered by the SEC to crypto brokers and exchanges for listing and offering security tokens, offering them a form of immunity against regulatory clampdowns for the coming 5 years.
The cryptocurrency market regained most of its losses over the past couple of days to register a Christmas rally today. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies. Connect with us. Share on Facebook. Share on Twitter. The LTC price is down 6. On the weekly charts, the LTC price is up On the other hand, the Grayscale portfolio continues to grow in size. Welcome To Crypto Money Team! You might also like More from author Crypto News.
Crypto News. If a similar correction follows the recent rally, here is the potential target for the bottom of what is likely to be a short-lived spike down, along with a look at why the cryptocurrency corrects to such a specific price point in bull markets. The last seven weekly candles have been green and price action has gone parabolic.
At this point, it is becoming difficult to deny that the top crypto asset is beginning another bull run. But even Bitcoin corrects during bull markets, and when it does, the results can be violent. Each correction is roughly 14 weeks from a new peak to peak.
Currently, the cryptocurrency is on week twelve in a row without anything meaningful for a correction. Reading between the lines, Brandt is warning that a correction is coming and that buyers need to beware. Crashes typically lasted less than a month in most examples.
But why the recurring number when it comes to cryptocurrency bull market corrections?