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Opinion: Bitcoin may be nearing the end of this correction, having retraced about 10% from its recent high
· Source: BlockBeats
BlockBeats news, October 25 - Trader Killa posted an analysis of the pullback framework for this bull market cycle. He stated that the previous bear market saw a maximum decline of about 77%-78%, and during the bull market, before surging to a high of about $126,000, the maximum drawdown was about 20%-22%. This bear market decline was about 54%, and proportionally, the larger pullback during the bull market phase may fall around 10%-15%. Killa pointed out that Bitcoin has retraced about 10% from its local high, and given the current position, this correction may be nearing its end, after which another upward rally could still follow.
This brief is provided by BlockBeats. It doesn’t reflect our views and isn’t investment advice.
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