Bitcoin and alts have seen a massive correction since they peaked in December 2017. Some people have predicted this to be the death of Bitcoin and of all the other coins that are collectively categorised as ‘shitcoins’ in crypto terminology. But this is not the first time Bitcoin has seen this level of correction.

If we zoom out, there were at least two major corrections in the past. One in 2011 when Bitcoin fell from $32 to $2 marking a 94% correction and in 2013-14 where it took over 400 days to correct from ~$1100 to $170, which is 85% fall from the peak then. Compare this to 2018 fall from $19,500 to a low of $5850 is only 70%. This is just to provide a perspective rather than claim that it will go further.

Bitcoin Bottom


After the peak, Bitcoin dropped three times to the zone of 5800 to 6400. That was not surprising considering the parabolic rise in price from ~$1000 to $19,500 in the last year. As mentioned before, this is 70% fall and if we were to look at the historical crashes – both of them followed a parabolic rise – there is still room for correction.

Read More: https://zycrypto.com/how-far-is-the-bottom-for-bitcoin-and-alts-when-will-they-peak-again/