Another bitcoin correction
The price of bitcoin has once again fallen below the $63,000 mark, continuing the downward trend that began last week. The main reason was the renewed concerns of investors regarding the impact of US President Donald Trump's tariff policy on the global economy.
Global financial markets, including the cryptocurrency market, are under tension due to the possible introduction of new trade tariffs by Washington. This affects the sentiment of market participants and provokes the sale of risky assets, including bitcoin.
According to CoinDesk, the first cryptocurrency has lost almost 5% since the beginning of the week, and more than 10% since the beginning of 2023. Analysts believe that the current decline is just the beginning of a deeper correction that may last for some time.
What does history say?
According to historical data, before forming a bottom after major rallies, bitcoin usually experiences an even deeper decline. This was the case in 2013, 2017 and 2021, when the cryptocurrency lost more than 50% of its value from its highs.
Therefore, experts predict that the current correction may continue, and bitcoin may fall even lower than the current levels before finding a new bottom and reversing to growth.
What should investors do?
Don't panic and stick to a long-term strategy. The current decline is just a temporary correction against the backdrop of the overall bullish trend. Investors should use the drawdowns to increase their positions, counting on further growth of bitcoin in the long term.