30% Price Drop Pattern, Bull Market Not Over Yet?

Bittime - Adam Back, CEO of crypto infrastructure company Blockstream, said that a 30% drop in a bull market is a frequent phenomenon and is not something investors need to be afraid of. 

6 Times Downturn in a Bull Market

In a tweet, Back reminded that in the previous bull market, there were 6 declines with a size of around 30%. In the current market situation, the decline that occurred reached around -26%, close to the previous decline pattern.

A drop of this magnitude is nothing new in the crypto world. Back emphasized that the current market correction is still within normal limits and even tends to be shallower than the decline that occurred in the past. 

Decline Bitcoin Prices During 2016-2017

Source: Twitter.com/adam3us 

The Bitcoin price chart from 2016 to 2017 shows several significant drops during the bull market.

• First Drop: -38%
• Second Decline: -38%
• Third Drop: -33%
• Fourth Decline: -38%
• The Fifth Decline: -36%
• Sixth Drop: -29%

Price Drop Isn't the End of the Bull Market?

The current price decline should not be considered the end of the bull market. Adam Back advises investors not to panic, but to see this as an opportunity to buy at low prices. The strategy of buying when prices fall (buy the dip) often provides big profits when prices rise again.

Additionally, Back also recommends purchasing the $CMSTR token supported by Liquid Network. Each $CMSTR token holds 100 shares of MSTR stock, providing diversification and potential additional profits for investors.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement Bitcoin (BTC), Ethereum (ETH), Solana (SOL) price and other cryptos to find out today's crypto market trends in real-time on Bittime.