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Widely-followed veteran trader Peter Brandt characterizes the current Bitcoin correction that took the leading crypto asset from an all-time high of $64,863 down to $52,829 as mild.
In a new tweet, the trader who nailed Bitcoin’s collapse in January 2018 looks at the history of BTC corrections during the 2015-2017 bull market and the current boom cycle.
“[A] drawdown in Bitcoin of 20.0% to date is very mild historically. There is a strong history of BTC bull trends to test the 18-week moving average (currently at $46,615). I personally doubt such a retest will occur, but Bitcoin has a history of pulling surprises.”
