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bitcoin orderly bull market Depositphotos_211063052_xl-2015
Nexo

Career Trader Claims Current Bitcoin Bull Run Is Most “Extraordinarily Orderly” Yet

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin
0
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Bitcoin price is already back headed toward all-time highs set last weekend, after a short-lived, yet steep selloff on the back of a ban potentially hitting India. The full correction thus far was a mere 13% from top to bottom – mundane by the normally notoriously volatile cryptocurrency’s standards.

In fact, one career commodities trader that’s been around markets for decades, says that this current bull run in Bitcoin is “extraordinarily orderly” compared to past crypto market cycles in terms of corrections. Here are the factors that could be behind the overall lack of volatility, as well as a look at what has happened in the past and could soon be ahead.

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Bitcoin Price Pulls Back 13%, But Barely A Blip Compared To Past Volatility

Bitcoin price at this very moment is inching back closer to $60,000 after a rejection from that level last weekend. A bloody Monday began the week, but the hotly trending cryptocurrency shook off what ended up being barely a scratch for bulls.

A “bogus” whale alert, says Bitcoin researcher Willy Woo, spooked the market, causing a selloff, combined with some uneasiness surrounding a potential ban coming in India, as well as a CFTC probe into Binance.

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Despite the negative news and 13% crash, Bitcoin has already recovered the entire move, preventing the types of corrections and volatility seen even during past bull markets. Compared to past cycles, corrections have been meager and few and far in between.

According to iconic career trader Peter Brandt, this bull market, Bitcoin has behaved “extraordinarily orderly.”

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bitcoin brandt compared

This bull market has been "extraordinarily orderly" compared to the past | Source: BTCUSD on TradingView.com

Brandt’s data shows that aside from the 2019 peak and the resulting 71% correction, this entire bull market has only experience two corrections of under 32%. During the last bull market, only one of eight corrections were under 32%, while the rest ranged from there up to as high as 41%.

As far as what has made things far less likely to correct with as much severity, it could be due to a variety of factors. Institutions are buying every dip they can, and supply is extremely low. Their existence was always said to reduce volatility in Bitcoin as the asset’s market cap grows and more liquidity pours in.

RELATED READING | SORRY BULLS, THIS DANGEROUS BITCOIN FRACTAL CANNOT BE UNSEEN

Another factor that could be fueling unprecedented growth, is due to the rapid expansion of the monetary supply. With so much more money to go around, and such a limited supply of BTC, the floodgates of stimulus money combined with inflation and digital scarcity, could be the perfect storm that’s long been talked about over the course of the last year since the pandemic struck.

On the other side of the coin, this could theoretically mean that a larger correction is long overdue. Looking at Brandt’s data, the notoriously volatile cryptocurrency certainly has some living up to do.

Featured image from Deposit Photos, Charts from TradingView.com
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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