Bitcoin price is trading at over $33,000 at the time of this writing, but that’s nearly $9,000 away from the high it set days ago. And while the cryptocurrency is still well above 2020 prices, the asset’s largest-ever daily candle in terms of total price moved is forming and it is shaping up to be bearish.
What does this mean for the bull market that was brewing, and how bad could this correction get?
Bitcoin Breaks Previous Records, Bubble Legacy Could Lead To Preemptive Bears
Bitcoin started 2021 off on a tear, closing out the year of the pandemic on an extremely high note. In fact, the cryptocurrency closed 2020 at a price almost five times what it started the year off from.
Inflation fears in the wake of unprecedented money printing have led investors to assets like gold and Bitcoin. High wealth individuals are scrambling for ways to protect capital in the economic uncertainty to come, and many