Bitcoin Might Be Just Halfway Into Its Correction
Bitcoin (CRYPTO: BTC) is reversing down from the October highs, and it’s pretty interesting that we’re seeing such a deep retracement so far, already more than 30%, despite the fact that the Fed has been cutting rates for the last few months and now even the bets for a December cut are increasing again. What’s important to understand is that cryptocurrencies are very sensitive to risk-on and risk-off flows, and we’ve seen quite a deep retracement on stocks as well, but what concerns me the most is that even during the days when stocks turned positive, Bitcoin was still seen trading lower. So I wanted to zoom out and check where Bitcoin could really be headed. If you look at the monthly chart, you can clearly see that each bull phase lasted around 36 …
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