The past few weeks have been so negative for the entire crypto market that all of you must be wondering if the Bitcoin bull run of 2021 is over. Before answering that question, let’s take a look at the 2017 bull run of Bitcoin and understand a few basics. This will help you answer the question by yourself. And the next time a crash happens, you will know if it’s wise to hold or to get out.
Bitcoin bull run 2017!
Here is the 1-day chart of the price movement of Bitcoin in 2017’s bull run. If you take a look, the price of the currency rose by almost 10x from around $2000 to $20000 before crashing. But in this period, there were many crashes that happened along the way and had many investors panicked. All the red lines, there were almost 40-50% corrections that were followed by massive gains in the next phase.
This has become a pattern so much so that even the 2013 bull-run also had the same market consolidation signs along the way. And this matters because it’s how the market works, and it’s how most big investors make the most out of the price movements. The only people who made money here are whales and HODLERS. Even people who bought at the top from where it went entirely downhill haven’t lost money if they held their coins till now.
The 2021 edition
The bull run of 2021 began when the US announced that they are going to regulate crypto from now on in August 2020. And after that, the price of BTC moved without any downsides to $40,000. After that, there was a mere 25% consolidation which is pretty less in the crypto world. And the market continued its upward movement. And the pattern of lower lows and higher highs continued. This price movement was such that no one was actually losing money as such.
So, now there was proper planning from big whales, and we have seen an almost 50% correction in the market. And I think there is nothing to worry about. We will soon resume the upward journey to a new high, and the market will be positive again. But, it is important to keep calm during these times and make sure that you don’t panic sell due to the FUDs spread by the media.
I hope now you can answer the question that is the Bitcoin bull run of 2021 over? If still, you have doubts, then the answer is “NO! it’s not over yet”. At least that’s what history suggests, and I believe. If you found our content informative, do like and share it with your friends. And if you agree or disagree with any of my views, comment below.
Also Read: Ethereum creator says Shiba Inu donation won’t give him any tax deductions.
