It has become more than apparent the recent Bitcoin bull run has seemingly come to an abrupt end. After surging in value for over a week on end, the dip has kicked in and there is no real sign of recovery as of yet. To add more fuel to the fire, it seems there are some interesting statistics involving Bitcoin which do not necessarily paint a bright future.
When any financial market gains tremendous value in a few short days, there will be an eventual correction. Bitcoin is no exception in this regard, as its value increased by $4,000 in less than two weeks. Losing over $1,700 of that value is somewhat normal, as it doesn’t even represent a 50% retrace. Given Bitcoin’s history of retraces, anything below 80% is nothing to be concerned about.