Veteran trader Peter Brandt recently offered his perspective on Bitcoin price action, focusing on the magnitude and duration of bull market corrections since 2015.
Veteran trader Peter Brandt recently offered his perspective on Bitcoin price action, focusing on the magnitude and duration of bull market corrections since 2015.
in a new cheepBrandt highlighted the magnitude and duration of bull market corrections for BTC since 2015, shedding light on the patterns and trends that have characterized Bitcoin’s journey.
Bitcoin’s trajectory over the last decade has been marked by periods of explosive growth and subsequent corrections.
Using a chart, Brandt highlights the corrections that have marked Bitcoin’s historic bull runs since 2015. He indicates the starting point of each Bitcoin bull cycle and the significant declines after each local high was reached, as well as the bounces and declines. later.
The 2015-2017 bull market reached a high of $19,891 on December 17, 2017. During the subsequent bear market, the price of Bitcoin fell by 84%. Meanwhile, the 2018 to 2021 bull market reached a high of $69,000 on November 10, 2021, followed by a 77% drop.
The starting point of this current bull run is November 21, 2022, at $15,460, and previous halving cycles suggest a high in August 2025. Bitcoin’s decline in this current cycle has ranged so far between 11.5% and 22.6%.
Through an examination of past price movements, a pattern is seen in both the magnitude and duration of these corrections, offering insights into understanding the cyclical nature of Bitcoin market cycles.
Bitcoin recovers $71,000
Bitcoin, the first and largest cryptocurrency by market capitalization, skyrocketed in the last week of March, recovering the $71,000 milestone.
Bitcoin price last rose 6.33% to $71,193, according to CoinMarketCap data. It rose to $71,582 in early trading on Tuesday, marking the fourth day of gains since recovering from Friday’s lows of $62,258.
Bitcoin has been in corrective mode for the past week, following an all-time high of $73,797.68 on March 14. Last Wednesday, it fell to around $60,800. The cause of Bitcoin’s price jump above $71,000 was unknown, but the cryptocurrency’s price action in March was marked by new highs followed by healthy pullbacks.
Bitcoin is on track to end March on a positive note. It has gained 16% this month and 66% so far in the first quarter.
