At this stage in the 2016 #bitcoin bull market cycle, the price dropped about 29%, which in today's terms would be a fall to a bit below $13,000.

Is it possible we have a correction like this before taking the all time high? Yes.

However...
This cycle is clearly being driven more by institutions who generally have much stronger hands than retail buyers.

For instance MicroStrategy has stated their purchase of #Bitcoin is a long term allocation - those bitcoins have been taken off the order book indefinitely.
The larger institutional interest may help dampen volatility in this cycle. Institutions are not looking at #Bitcoin to seek returns of 10 or 20%. They're looking for an asymmetric bet. When they take a position they're looking for 10 or 20x upside. They are also patient.
So while it's possible we see a correction, the larger institutional demand in this bull market is likely to change market dynamics.

I also expect media attention will be even greater than in 2017 because of the influx of celebrities who will begin taking positions in #Bitcoin .
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