2. Let's divide the 2017 #Bitcoin Bull Market into Quarters
There are a few important things to note:
• Uptrends are longer than corrections
Throughout its Bull Market, #BTC spends most of its time in an uptrend (green) compared to time spent in
a correction (red)
There are a few important things to note:
• Uptrends are longer than corrections
Throughout its Bull Market, #BTC spends most of its time in an uptrend (green) compared to time spent in
a correction (red)
3. In fact, throughout the 2017 Bull Market, #Bitcoin spent 267 days in an uptrend and 98 days in a downtrend
That means that #BTC spent 73% of the entire year in an uptrend!
The average time BTC spent in an uptrend in 2017 was around 50 days
That means that #BTC spent 73% of the entire year in an uptrend!
The average time BTC spent in an uptrend in 2017 was around 50 days
4. Corrections are short
In 2017, #BTC experienced 5 major corrections
Shortest correction lasted only a few days
Longest lasted just over a month
First correction took 1 week
Second took 3 weeks
Third took ~5 weeks
Fourth took ~2 weeks
Fifth 3 days
(Sixth = Bear Market)
In 2017, #BTC experienced 5 major corrections
Shortest correction lasted only a few days
Longest lasted just over a month
First correction took 1 week
Second took 3 weeks
Third took ~5 weeks
Fourth took ~2 weeks
Fifth 3 days
(Sixth = Bear Market)
5. Corrections get shorter over time
Average time #BTC spent in a retrace was 16 days
Not only were retraces generally short in the 2017 BTC Bull Market...
But retraces got shorter as the Bull Market progressed
Corrections arguably become more brief later in the year/cycle
Average time #BTC spent in a retrace was 16 days
Not only were retraces generally short in the 2017 BTC Bull Market...
But retraces got shorter as the Bull Market progressed
Corrections arguably become more brief later in the year/cycle
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7. Every Quarter sees at least one strong #Bitcoin correction
However, it's more common that two corrections occur during a Quarter (i.e. Q1, Q3, Q4)
The only Quarter that saw only one strong #BTC correction in 2017 was Q2
However, it's more common that two corrections occur during a Quarter (i.e. Q1, Q3, Q4)
The only Quarter that saw only one strong #BTC correction in 2017 was Q2
8. Corrections tend to occur at the end of a Quarter
While some #BTC corrections started at the beginning of a Quarter (e.g. Q1 & Q3)...
#Bitcoin corrected near the end of EVERY Quarter in 2017!
(The only time when BTC retraced mid-Quarter was in Q4, though it was very brief)
While some #BTC corrections started at the beginning of a Quarter (e.g. Q1 & Q3)...
#Bitcoin corrected near the end of EVERY Quarter in 2017!
(The only time when BTC retraced mid-Quarter was in Q4, though it was very brief)
9. Corrections tend to be -30% to -40% deep
Corrective periods are a natural, healthy part of any #BTC growth cycle
In fact, during the 2017 Bull Market, #Bitcoin experienced 5 major pullbacks which preceded new All Time Highs
The average Bull Market correction was about -35%
Corrective periods are a natural, healthy part of any #BTC growth cycle
In fact, during the 2017 Bull Market, #Bitcoin experienced 5 major pullbacks which preceded new All Time Highs
The average Bull Market correction was about -35%
10. At the moment, #Bitcoin is experiencing its first major pullback in this new Bull Market
The retrace at the moment is around -31% deep which is normal by standards of history
In fact, history suggests a retrace even deeper (e.g. ~$25000; -40%) would still be healthy
The retrace at the moment is around -31% deep which is normal by standards of history
In fact, history suggests a retrace even deeper (e.g. ~$25000; -40%) would still be healthy
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