Posted 12/31/2023, 3:31:16 PM
Bitcoin Price Could See 40% Correction Before Resuming Bull Run Through 2025
- Bitcoin may see a 40% price correction if historical patterns repeat, dropping from $50K to around $30K
- Analyst Ali Martinez notes BTC saw major pullbacks after 2016 and 2019 bull runs upon reaching 0.786 Fib level
- Martinez remains long-term bullish though, seeing the BTC bull market enduring until end of 2025 based on halving cycles
- Bitcoin's next halving occurs in April 2024 which has coincided with past bull markets
- Martinez "Historically, this translates to 3 years of bullish trends followed by 1 bear year"