- According to Will Clemente, there will be an imminent correction in the price of Bitcoin.
- Clemente explained that Bitcoin price corrections create room for stronger foundations for eventual moves higher.
- Bitcoin had a 62.6% drawdown during the last bull run between 2019 and 2022.
According to Will Clemente, co-founder of Reflexivity Research, there will be an imminent correction in the price of Bitcoin. Clemente explained that the correction would be sharp and allow the market to shake off “greedy”, leveraged hands.
This price action recently has been awesome, but friendly reminder that there will be sharp corrections along the way as the market shakes off greedy leveraged longs.Can’t go wrong holding spot in cold storage. pic.twitter.com/JvWOE25bNi
— Will (@WClementeIII) December 5, 2023
Using information from Glassnode, a blockchain data and intelligence platform, Clemente showed how price corrections have been a consistent trend in Bitcoin’s life cycle. He revealed that between the 2015 to 2018 cycle, Bitcoin made a 36% correction in the middle of the bull run. Similarly, the flagship crypto had a 62.6% drawdown during the last bull run betwee…
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