BREAKING: Bitcoin Prepares to Flush Out “Weak Hands” With a Steep Correction
Bitcoin bulls have been driving the market this week. In the past three days, Bitcoin's price increased by over $2000, building upon a robust month-long rally.
Once the price broke through $12,500, the community already knew that the mega rally has started.
Bitcoin hit bottom in the middle of March when the COVID-19 pandemic was spreading across the world like a wildfire.
Since that time, the pioneer digital asset has regained the lost ground and set new multi-year highs.
However, the cryptocurrency community should be aware of the potential danger ahead.
Bitcoin's bull runs are always accompanied by steep and often painful corrections that may discourage novice traders.
For example, in 2013, Bitcoin tried to clear an all-time high of nearly $1,200 twice, and 30-40% corrections accompanied both attempts. Only the third recovery was strong enough to finally turn this milestone into support and ensure a massive BTC rally to new records.
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