Has Bitcoin found it’s bottom after the correction?
The start of the year 2018 has not been very kind to Bitcoin. With prices correcting nearly 70% from the high of $20,000 in December 2017, it has been quite the roller coaster ride. Traders with experience however are not surprised because Bitcoin tends to correct itself very similarly every January & February.
In January 2017 Bitcoin price correct from a peak of $1167.8 to $734.5
In January 2016 Bitcoin price correct from a peak of $475.4 to $352.6
In January 2015 Bitcoin price correct from a peak of $475.2 to $166.3
As you can see this is a trend that has been running for a couple of years and traders with experience trading this market were bracing themselves for another shakeout in 2018 as well.
The question on everyone’s mind however is whether we have found a bottom for Bitcoin after