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Past vs. Present — Examining Bitcoin’s History of Bull Market Corrections

Past vs. Present — Examining Bitcoin’s History of Bull Market CorrectionsAs of now, the price of bitcoin has decreased by 23.4% from its peak of $73,737, reached on March 14, 2024, about four months ago. Metrics indicate that this is the longest period in bitcoin’s history without a 25% decline during a bull market. In contrast, both the 2017 and 2021 bull markets experienced several […]

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Bitcoin prices should ‘logically’ correct in Jan, but crypto’s a ‘wild card’

Bitcoin should “logically” be headed for a “sell-the-news” correction in January, according to analysts, but that doesn’t mean that’s how it’s going to shake out.

The price of Bitcoin (BTC) should “logically” undergo a correction once spot Bitcoin exchange-traded funds (ETFs) are approved, though commentators also concede that crypto is also a “wild card."

Bitcoin has been gaining momentum over the last 11 months, with a jump in March amid banking uncertainty, another spike in June when BlackRock filed for a spot Bitcoin ETF, and again in October, similarly due to optimism over spot Bitcoin ETF approvals.

On Dec. 3, Bitcoin cleared the $40,000 mark, its highest level in 19 months.

Sell the news event

James Edwards, a cryptocurrency analyst at Finder, said that “logically,” the approval of a spot Bitcoin ETF should trigger a sell-off event.

“I'd like to say that logically this makes it a sell-the-news type event.”

“Buy the rumor, sell the news” is a phrase that describes a situation where a stock or asset rises ahead of anticipated positive news or events but falls once the news is confirmed or the event occurs.

“The idea that this is going to lead to widespread institutional buying on day 1 is a bit too optimistic,” explained Edwards, adding it is unlikely fund managers will “ape in the moment it goes live.”

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Investment Manager Guggenheim Warns of ‘Major Correction’ in Bitcoin

Investment Manager Guggenheim Warns of ‘Major Correction’ in BitcoinGuggenheim CIO Scott Minerd has warned of a “major correction” in bitcoin in the near term. Claiming that bitcoin is “very frothy,” he is forecasting a 50% decline in the price of the cryptocurrency. Scott Minerd’s Latest Warning About Bitcoin The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with another bearish […]

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