With the current continuing rise of Bitcoin price, we expect a correction coming soon. Do you it can reach around 50%? Give us your thought and own prediction.
50%? I'd say no way in the short run, the markets are way too bullish for that huge of a correction.
But when the inevitable crash does happen then it can easily go under 50% of whatever bitcoin's value is at the peak of the bubble for sure. The 2013 bubble ended with the price troughing as low as 10-20% of its peak value, actually. And even though i don't think BTC will crash as much this time round, i think 50% could still happen.
Most likely thing when the big correction does come is first we go down under $10k. Then, we'll settle at around $8-9k before another adjustment. But we're still a long way from that imo.