Is a Bear Market Coming for Bitcoin? How Low Could Bitcoin (BTC) Go?

Some anticipate that Bitcoin will soon break new records as a Bitcoin ETF becomes a reality in the United States this week, while others predict that investors will “sell the truth” after having “purchased the rumor.”

Indeed, it would not be the first time that Bitcoin has risen in anticipation of a significant event, only to plummet once that event occurs. This was the case with the introduction of CME Bitcoin futures in 2017 and, more recently, the IPO of Coinbase (NASDAQ:NASDAQ:COIN).

So, if history repeats itself, the issue for cautious investors is how much Bitcoin could correct.

This time, Bitcoin is anticipated to see a less severe correction.

In this regard, we might mention the firm Pantera Capital’s CEO Dan Morehead’s recent highly important statements in a report issued earlier this month.

He that during the first two big correction stages of Bitcoin, from 2013 to 2015 and from 2017 to 2018, bitcoin plummeted by more than 80% following new highs.

He did point out, however, that the corrections after the 2019–20 and 2020–2021 highs were far less severe, with corrections of -61 percent and -54 percent, respectively.