{"id":392832,"date":"2019-08-12T18:00:46","date_gmt":"2019-08-12T18:00:46","guid":{"rendered":"https:\/\/wncen.com\/?p=392832"},"modified":"2019-08-12T13:35:49","modified_gmt":"2019-08-12T13:35:49","slug":"historical-data-shows-bitcoin-price-correction-could-last-5-more-months","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/historical-data-shows-bitcoin-price-correction-could-last-5-more-months\/","title":{"rendered":"Historical Data Shows Bitcoin Price Correction Could Last 5 More Months"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">While crypto investors and traders are ready for the next bull run to fully commence, <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a>\u00a0has once again been rejected from highs above $12,000 and is potentially looking at more downside in the coming days.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This is all normal, according to historic Bitcoin price charts, according to one crypto analyst, who says that past early bull market corrections have lasted roughly 200 days. If history repeats itself, <a href=\"https:\/\/wncen.com\/2019\/07\/11\/crypto-trend-analyst-bitcoin-price-rally-has-ended-bottom-december-2019\/\">which it often does<\/a>, there could be another 5 months left for the current crypto market correction.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Price Correction Only 25% Complete According to Historical Data<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Most crypto analysts agree, <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> action suggests the crypto asset is building a foundation in which it can use as a launchpad for the next bull run, and it&#8217;s just a matter of time until Bitcoin\u2019s jets are refueled and the rocket takes off again to the moon.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/07\/11\/crypto-trend-analyst-bitcoin-price-rally-has-ended-bottom-december-2019\/\">Crypto Trend Analyst: Bitcoin Price Rally Has Ended, Bottom December 2019?<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">But unfortunately, that still may be a ways off, according to <a href=\"https:\/\/twitter.com\/iamcryptowolf\/status\/35988480?s=21\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><span class=\"s2\">one prominent crypto analyst<\/span><\/a>. According to historical data, as Bitcoin bear markets turn bull, there\u2019s often an extended reaccumulation phase or correction before moving on to take out new highs.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Data shows that each of these reaccumulation phases lasted from 189 to 201 days. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin price was rejected at $13,800 on June 26, or 47 days ago. At 47 days into what could amount to a 200-day correction, the data would suggest that the current correction is only 25% complete, and could last until the end of December or early January.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">All I Want for Christmas Is Cheap BTC! Could December Be The Bottom?<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">The data lining up with the correction ending in December or January also aligns with a number of different theories.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">For example, crypto analyst Dave the Wave has been calling for an extended correction until the end of the year for some time now.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Who wouldn&#39;t want cheap Bitcoin for Xmas!\ud83e\udd2a <a href=\"https:\/\/t.co\/MsyueHWaNF\" rel=\"nofollow\">pic.twitter.com\/MsyueHWaNF<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/35998723?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 11, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The above data suggests that even the Bitcoin market cycles as repeating lengths. Legendary trader W. D. Gann was also an advocate of history repeating itself and markets cycling, and used astrology to time the tops and bottoms of markets.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/08\/09\/gann-theory-suggests-bitcoin-price-at-do-or-die-moment-important-pivot-ahead\/\">Gann Theory Suggests Bitcoin Price at \u201cDo or Die\u201d Moment, Important Pivot Ahead\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">According to Gann\u2019s theories, <a href=\"https:\/\/wncen.com\/2019\/07\/11\/crypto-trend-analyst-bitcoin-price-rally-has-ended-bottom-december-2019\/\">markets typically top and bottom in December and January<\/a>, as well as July. While Gann\u2019s theories are questionable and many believe his work to be nothing more than a hoax, Bitcoin price did top out in December 2017, only to bottom in December 2018. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Could Bitcoin price once again bottom in December 2019 offering up not only the gift of cheap <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> at Christmas time but the gift of a renewed Bitcoin that could potentially top out the next December at a new all-time high in 2020.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>While crypto investors and traders are ready for the next bull run to fully commence, Bitcoin price\u00a0has once again been rejected from highs above $12,000 and is potentially looking at more downside in the coming days. This is all normal, according to historic Bitcoin price charts, according to one crypto analyst, who says that past early bull market corrections have lasted roughly 200 days. If history repeats itself, which it often does, there could be another 5 months left for the current crypto market correction. Bitcoin Price Correction Only 25% Complete According to Historical Data Most crypto analysts agree, Bitcoin price action suggests the crypto asset is building a foundation in which it can use as a launchpad for the next bull run, and it&#8217;s just a matter of time until Bitcoin\u2019s jets are refueled and the rocket takes off again to the moon. Related Reading | Crypto Trend Analyst: Bitcoin Price Rally Has Ended, Bottom December 2019? But unfortunately, that still may be a ways off, according to one prominent crypto analyst. According to historical data, as Bitcoin bear markets turn bull, there\u2019s often an extended reaccumulation phase or correction before moving on to take out new highs. Data shows that each of these reaccumulation phases lasted from 189 to 201 days. Bitcoin price was rejected at $13,800 on June 26, or 47 days ago. At 47 days into what could amount to a 200-day correction, the data would suggest that the current correction is only 25% complete, and could last until the end of December or early January. All I Want for Christmas Is Cheap BTC! Could December Be The Bottom? The data lining up with the correction ending in December or January also aligns with a number of different theories. For example, crypto analyst Dave the Wave has been calling for an extended correction until the end of the year for some time now. Who wouldn&#39;t want cheap Bitcoin for Xmas!\ud83e\udd2a pic.twitter.com\/MsyueHWaNF &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) August 11, 2019 The above data suggests that even the Bitcoin market cycles as repeating lengths. Legendary trader W. D. Gann was also an advocate of history repeating itself and markets cycling, and used astrology to time the tops and bottoms of markets. Related Reading | Gann Theory Suggests Bitcoin Price at \u201cDo or Die\u201d Moment, Important Pivot Ahead\u00a0 According to Gann\u2019s theories, markets typically top and bottom in December and January, as well as July. While Gann\u2019s theories are questionable and many believe his work to be nothing more than a hoax, Bitcoin price did top out in December 2017, only to bottom in December 2018. Could Bitcoin price once again bottom in December 2019 offering up not only the gift of cheap Bitcoin at Christmas time but the gift of a renewed Bitcoin that could potentially top out the next December at a new all-time high in 2020. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":392833,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1501,6664,24132,51300],"class_list":["post-392832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-correction","tag-crypto","tag-dave-the-wave","tag-reaccummulation"],"acf":[],"yoast_head":"\n<title>Historical Data Shows Bitcoin Price Correction Could Last 5 More Months<\/title>\n<meta name=\"description\" content=\"While crypto investors and traders are ready for the next bull run to fully commence, Bitcoin price\u00a0has once again been rejected from highs above $12,000\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/historical-data-shows-bitcoin-price-correction-could-last-5-more-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Historical Data Shows Bitcoin Price Correction Could Last 5 More Months\" \/>\n<meta property=\"og:description\" content=\"While crypto investors and traders are ready for the next bull run to fully commence, Bitcoin price\u00a0has once again been rejected from highs above $12,000\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/historical-data-shows-bitcoin-price-correction-could-last-5-more-months\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-12T18:00:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-12T13:35:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/bitcoin-price-correction-christmas-shutterstock_1038215032.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3756\" \/>\n\t<meta property=\"og:image:height\" content=\"2488\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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