BTC falls almost 20% in latest pre-bull-run pause

Source: Bloomberg

“Bitcoin has lost almost 20% in less than two weeks, proving that extreme volatility remains a hallmark of crypto investing. Yet in the world of Bitcoin, it’s largely business as usual with bullish conviction intact — in contrast to traditional markets where moves on this scale are met with alarm. The largest cryptocurrency slipped 0.5% to around $57,280 in early London trading on Friday, a sixth day of declines. ‘Bitcoin correction is not a big deal,’ wrote Craig Erlam, senior market analyst at Oanda. While a break to $50,000 ‘would represent a large correction from the highs, it would still be relatively minor considering how far it’s come in recent months.'” (11/19/21)