Bitcoin experiencing expected retracement“It is only the third or fourth correction we’ve had over 25% we’ve had in Bitcoin this cycle compared to 12 last cycle,” Simpson said. Bitcoin (BTC) is down 24% from its all-time high of $109,000 on Jan.20 amid uncertainty around US President Donald Trump’s tariffs and the future of US interest rates, but Simpson called it “a normal correction.”“Things got overheated, and they needed to cool down, and the market needed to find a new foundation, and now we’re waiting for the next new narrative,” he said.Bitcoin is down 13.58% over the past month.
Bitcoin’s correction from its January peak is a typical cycle pullback and is not out of the ordinary, with a price top still on the horizon, crypto analysts and executives tell Cointelegraph.“I don’t think the bull run is over; I think the peak of the cycle has been pushed back due to macro conditions, and global liquidity isn’t pretty, which isn’t helping crypto,” Collective Shift CEO Ben Simpson told Cointelegraph.
Source: CoinMarketCapDerive founder Nick Forster shared a similar view, telling Cointelegraph that Bitcoin “is likely in a normal correction phase, with the cycle peak still to come.” “Historically, Bitcoin experiences these types of corrections during long-term rallies, and there’s no reason to believe this time is different,” he said.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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