According to trader @CryptoJelleNL, who goes by alias, no Bitcoin (BTC) cycle has peaked without experiencing double-digit corrections. Although their patterns are shifting on a regular basis, they were all excellent purchase chances.
Bitcoin (BTC) dropping by 20-25% would open “buy-the-dip” opportunity
The biggest cryptocurrency, Bitcoin (BTC), may have at least one double-digit correction before reaching a new high. An opportune window arises for BTC bulls whenever it declines by 20–25%, according to an experienced cryptocurrency investor on X who carries by the handle @CryptoJelleNL.
These adjustments are noted for each cycle. Nevertheless, the dropdowns grow smaller as the market gets more developed.
To put things in perspective, throughout the 2016–2017 cycle, Bitcoin had seven extremely unpleasant corrections. They each eliminated 30-45% of the price of Bitcoin (BTC), with an average decline of 32%.
Bulls were given far more leeway in the subsequent cycle that drove Bitcoin to its present all-time high (ATH) level: despite five declines, the average loss was just 24%.
https://x.com/CryptoJelleNL/status/1763574018093859035?s=20
There have only been four significant corrections in this cycle thus far, with an average decline of 21%. According to statistics, traders should thus be prepared for at least one nasty red candle.
Bitcoin’s (BTC) local high 10% lower than 2021 ATH
If the estimates made by @CryptoJelleNL are accurate, the optimal price range for Bitcoiners looking to “buy the dip” is between $46,000 and $47,000.
As of the time of publication, the price of Bitcoin (BTC) on popular spot markets is $61,683. It increased by more than 20% in the previous week and reached a peak just short of $64,000.
This value is less than 10% below the peak that was reached on November 10, 2021, when it was around $69,000.
