Expect 30% Pullback in Bitcoin Market, Analyst Warns


Bitcoin bull run is about to hit a hard wall of resistance, according to independent financial analyst Josh Rager. The benchmark cryptocurrency could fall by as low as 30 percent, said the Blockroots co-founder, while taking cues from his earlier pullbacks. He noted that BTC/USD has a knack for logging extreme retracements after it rallies relentlessly, mentioning nine of such cases in the recent history wherein bull markets resulted in the corrections of at least 30 percent. $BTC Another strong weekly close on high time frame With that said, let the "dips" come It shouldn't surprise anyone who's been in this market when it happens Bitcoin had 9+ pullbacks of at least 30% last bull market But in the long run, we know where this is going (up) — Josh Rager (@Josh_Rager) November 2, 2020 The bearish analogy appeared despite a healthy outlook for the Bitcoin market in the long-term.…

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