Odaily Planet Daily News Matrixport released today's chart saying that since the start of the bull market at the end of 2022, Bitcoin has shown strong resilience, and the 30-day price correction rarely exceeds -10%. In contrast, in a bear market, Bitcoin's monthly decline is usually as high as 30% or more.
Last week, the price of Bitcoin approached the -10% correction level, which is often regarded as the bottom of consolidation in this bull market. On the other hand, sharp rises, such as the +40% surge in March and November 2024, are usually good opportunities for profit-taking.
It is obvious from the chart that Bitcoin is still in the bull market stage. As long as this trend continues, any -10% correction compared to the price a month ago may be a strategic buying opportunity to follow the trend.