The Bitcoin correction was short lived to say the least. Only three candles closed below $10k on the hourly chart and one briefly dumped to $9,600, 30 percent down from the recent high. Looking at previous market cycles may give us a clue as to when this may happen again … and it could be a while.
Over the past 24 hours BTC has marched steadily higher, touching $12,000 again during Asian trading this morning. The move has added another 5 percent to Bitcoin price as it continues to trounce the altcoins, eating into their market share.