Bitcoin Analyst: “Deep Correction” Coming With December 17 Pivot Point Reached

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There’s no denying that Bitcoin and other assets exhibit cyclical nature. In fact, cycles are built directly into the cryptocurrency’s code, revolving around the asset’s block reward halving taking place roughly every four years. The quadrennial cycle causes an imbalance in supply and demand, that greatly favors price appreciation. But that is not the only way the cryptocurrency has exhibited cyclical tendencies, and it has one Bitcoin analyst expecting a “deep correction” on the basis that a key date and pivot point has been reached. Is a correction more characteristic of the asset’s past bull runs around the corner, even as price passes beyond $20,000 for the first time? Pivot Point Could Bring “Deep Correction” To Bitcoin, According To Analyst Take On Cyclicality The cryptocurrency market chatter has never been louder, now that Bitcoin has broken above $20,000 for the first time in its history. The last time the cryptocurrency…

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