Grayscale Report: Bitcoin's 30% Correction Is Normal in a Bull Market, Poised to Hit New Highs Next Year
The Bitcoin correction that began in early October intensified throughout most of November, with a maximum drop of 32%. To date, this pullback has neared the historical average. Since 2010, Bitcoin has experienced approximately 50 price declines of over 10%, with an average correction magnitude of 30% across these episodes. Since Bitcoin bottomed in November 2022, there have been 9 instances of 10%+ drops. Despite the sharp volatility, this is not an anomaly in Bitcoin's bull market.
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