🔥 Bitcoin: Just A Dip? What Does 2016 Tell us

22 בינו׳

Preface: I'm still bearish on BTC as per my most recent analyses. The ETF launch likely signaled a major top, potentially until the halving. My most likely scenario's are shown below.

That being said, I think it's worthwhile to look at the market from different perspectives.

In this analysis I'm going to compare the 2016-2017 bull-run with the 2023 bull-run. Back then, BTC experienced many 30%-40% drops over the course of 2 years. In the end, every dip was a dip to be bought which led to some very good returns.

Thus far, the 2023 (and 2024) bull-run has had several dips around 20%, which all proved to be very good entry points. We had to admit to ourselves that it's possible that the drop after the ETF launch is a dip to be bought.

Furthermore, the dips getting less deep than 8 years ago is a natural consequence of the market maturing and becoming less volatile.

Is this just a dip, or are we facing a longer-term correction? Happy to hear your thoughts!