Bitcoin Up 6% In 24 Years, Vaar Dit Zu Kunnen Leiden, This Bullish Rally

The price of Bitcoin has fluctuated strongly over the past week. Amid news of Bitcoin whale stocks, the price has risen by more than $ 34,000. A short break of $ 35,000 yesterday afternoon before resuming trading again in the December range of $ 34,000.

But in the last 24 hours, the price of the coin has dropped a lot. In one day, bitcoin’s price lost more than $ 2,000. This amounts to about 6% of the price over the past 24 hours. Bitcoin’s price is currently in the red as the currency was trading at about $ 32,525 at the time of writing.

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Sudden price falls over short periods are not uncommon for a currency. Or for cryptomarkt in general. This is a feature of digital currencies, not a mistake. Investors expect such things to happen constantly. This is due to the possibility of winning big prizes in a short time. But this leads to the question of what the current decline is marked by.

Price correction
Usually, when prices are too high in a short period of time, this usually comes with a price correction to bring an asset to a price point where it won’t fluctuate much. Price fixes are incredibly bad for what happens during a bull run.

This is because in a bull market prices move by large margins on a daily basis. Sometimes it’s just a few hours.

Bulls struggle to keep bitcoin price high as price drop continues / source: btcusd on TradingView.com
While price adjustments often happen in bull markets, that doesn’t mean they can’t happen in bear markets. The price correction can go in any direction: up or down.

The drop could then be indicative of a price correction from the price peak that occurred last week. Usually, when coins become more expensive in such a short period of time, people record earnings because they expect the price to be adjusted downward rather than upward

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