If History Rhymes, Bitcoin is Likely to Start Developing a Long-Term Bottom

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Bitcoin is currently undergoing a serious correction that has caused its price to see some significant losses throughout the past few days The cryptocurrency is now hovering just a hair above $30,000, with bulls struggling to support it above this level as bears take control Where it trends in the mid-term will undoubtedly depend largely on whether or not $30,000 holds as support Any major break below this level could be all that it takes for the crypto to see a capitulatory plunge back to its recent sub-$29,000 lows One analyst believes that this type of pullback is standard in a bull market, noting that – if history rhymes – BTC could see a parabolic move higher following this dip Bitcoin has been experiencing immense turbulence as of late, with bulls unable to gain any serious control of its price action as bears continue fading every move higher. BTC rallied…

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