Bitcoin is in a bull market, but this does not mean that the price will not roll back to lower levels overnight. These adjustments are a healthy and natural part of any growth cycle. After their end, the bitcoin price tends to shoot upward, breaking previous highs. An analyst at Rekt Capital assessed Bitcoin’s behavior in the 2017 bull market, dividing it into quarters to better describe the corrections and the growth phases that followed.
Growth takes longer than correction
During the previous bull market, bitcoin rallied most of the time (green zones) and corrections took shorter periods of time (red zones). In 2017, bitcoin rose for 267 days, and only declined for 98. In other words, the cryptocurrency spent 73% of the year in an uptrend. The average duration of each growth period was 50 days.
Corrections are natural
In 2017, Bitcoin experienced five major corrections. The shortest pullback lasted only three days, the longest one more than a month, and the average correction time was 16 days. During the previous bull cycle, Bitcoin only spent 98 days in correction, or 27% of the total time.
Corrections do happen, but they tend to be just small breaks in the path of further ascent and provide a chance to join the next growth cycle. Towards the end of 2017, corrections became shorter and shorter as the final euphoric phase approached. Long periods for cryptocurrency accumulation are an infrequent luxury in a bull market.
There is at least one major correction in every quarter
In 2017, bitcoin experienced at least one major correction every quarter, and in most cases there were two. The only quarter with one major correction was the second. Thus, corrections are not only natural for a bull market, but also tend to appear cyclically.
Most often corrections occur at the end of the quarter
Although some corrections took place at the beginning of the quarter, as was the case, for example, in the first and third, by the end of each quarter in 2017, the price of bitcoin declined. The only correction in the middle of the quarter occurred in the fourth, but it was short-lived.
The correction depth is usually 30-40%
In the 2017 bull market, Bitcoin experienced five major pullbacks ranging from 29% to 40%. The average correction depth was 35%. Nevertheless, regardless of the depth of these falls, each of them was followed by a new historical high.
Bitcoin recently experienced its first major retracement in the current bull market. It was 31%, that is, it was normal by historical standards. Yesterday and today, the cryptocurrency continues to update highs above $ 45,000. The analyst admits that Bitcoin is still in the early stages of a bullish trend, similar to the first quarter of 2017, and may enter a larger four-year cycle, in which the first annual candlestick is characterized by an exponential rise.

Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.