Now that the Bitcoin price has finally flashed signs of an extended bullish run earlier this month, a lot of traders are wondering where things will head next. All one needs to do is look at the previous correction which took over a full year and see how things played out back then. Assuming history will repeat itself as far as the big story is concerned, there will be five minor correction waves users will need to contend with in the foreseeable future.
Correction Wave 1 can Last 16 Days
The last time Bitcoin went through a major correction prior to 2017-2018-early 2019 was between November 2013 and January 2015. That lengthy correction lasted 411 days and resulted in an 87% Bitcoin price retrace. The most recent trend, which lasted over a full year as well, certainly draws interesting parallels. After that trend came to an end, there was a very long period during which the Bitcoin price moved up slowly and surely. In fact, it went somewhat bullish until May 10th of 2017, when one BTC hit $2,760.1.
After hitting that…