Even with major negative news breaking at important moments throughout the rally, Bitcoin has barely flinched, and has yet to face a significant correction. In fact, Bitcoin hasn’t seen anything more than an 8% pullback on average since the early April rally began, suggesting that this latest pullback might yet again be nothing for crypto investors to fret over.
When Will Bitcoin Price Correct After Biggest Rally of 2019?
Starting on April 2nd, 2019, Bitcoin took off on a rocket toward $5,000 and never looked back. Since then, the first ever cryptocurrency has revived the bull market by breaking back above $6,000 without a second thought, smashing through $7,000, and reaching above $8,000 where it is currently taking a pit stop.
Related Reading | Crypto Analyst: Bitcoin Price Now Above Ideal Buying Zone, Shortest Duration Yet
From the start of the rally, Bitcoin has corrected on average only about 8% at each dip, despite doubling in value in less than 45 days , according to Bitcoin price charts shared by dmr_no via Twitter . Crypto analysts have been calling for a pullback of 50% or more given the parabolic advance, however, the FOMO that was incited may be too strong for bears to have any effect in the face of the incredible buy pressure.
The biggest BTC pullbacks since 2nd of April were in the -7% to -9% range yet BTC BEARS keep trying to short it, WHY!?