Identifying Correction Trend in Historical BTC Bull Markets
"Current Decline is Just a Normal Correction"
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Fidelity Digital Assets suggested in a report released on the 1st that the recent Bitcoin price decline could be a correction before an acceleration phase, not a perfect market reversal.
After reaching its highest price this year in January, Bitcoin has fallen by about 25% compared to its all-time high, influenced by the aftermath of tariff wars that began during the Trump administration. The market largely believes that Bitcoin's bull market has ended.
Fidelity Digital Assets pointed out that this year's Bitcoin decline rate is a normal figure that has always existed during the correction process in bull markets. Jack Weinwright, a Fidelity analyst, stated, "Bitcoin's average price in March dropped by about 11.44% compared to the January average, which is merely a typical correction trend seen in past bull markets."
Fidelity Digital Assets highlighted the pattern of Bitcoin bull market cycles becoming longer and suggested that the bull market that started in 2024 may not have ended yet. The Fidelity Digital Assets report noted, "Bitcoin bull markets in 2010-2011, 2015, and 2017 reached their peaks at 244, 261, and 280 days respectively, followed by correction trends."
Jack Weinwright, a Fidelity analyst, pointed out the possibility that Bitcoin might again reach new highs before this bull market ends. Weinwright said, "Bitcoin typically experiences a major surge in its second acceleration phase," and added, "If Bitcoin sets a new all-time high, it could record over $110,000."
Reporter Seung-won Kwon ksw@blockstreet.co.kr
