Bitcoin has gone through many bear and bull cycles over the years. The first one was during September 27, 2010 – June 8, 2011, that saw 49,233% gains only to drop down 93.07%. Then in 2012, we surged 11,119% only to drop 71% in 2013.

In the second half of 2013, that is from July 5, 2013, to December 4, 2013, we went up by 1,629% to crash 84% in 2014.

The most recent and memorable bull cycle is the 2017 one when the world’s top cryptocurrency surged to $20,000, marking a new all-time high (ATH) in December. After topping out in mid-Dec, the price started falling leading towards the bear market.

2018 was the year of brutal winter where Bitcoin lost about 84 percent of its value by crashing to $3,150 in December 2018.

Crypto Spring: 2019 Marks over 100% Returns Till Now

Now, since entering into 2019, Bitcoin is enjoying amazing greens as we are up 114 percent till date in 2019 with the month May turning out to be the biggest green month registering a whopping 60 percent gains since November 2017. As we reported, experts have called it to be the crypto spring season as prices start turning green.

In 2019, we made our journey from $3,900 to climb to $4,200 in late February only to trade below this level in March. The next month in April we registered a spike when Bitcoin price breached $5,500 level and then entering the month that experienced the monster rally and jumped to $9,100.

Since then, however, we have dropped some as at the time of writing, BTC/USD has been trading at $7,916 with 24 hours loss of 0.58 percent.

Retracement not Reversal

At one point in June, we dropped even below $7,400 that got the community a bit concerned regarding if we are to enter into a bear market yet again. However, that’s not the case as the leading cryptocurrency is just making a retracement and not reversing the current trend which is bullish.

Surprised on how bearish the sentiment is on this correction of a strong uptrend

People are actually waiting to short the bounce

Extremely risky play and the price could turn to the upside any moment, strong and fast, as it did before

This is a retracement not a reversal$BTC

— Galaxy (@galaxyBTC) June 5, 2019

These retracements also aren’t anything new. As crypto investor and trader Josh Rager have pointed out before these retracements are actually ‘buy the dip’ opportunities. During the last bull cycle, Bitcoin went through about nine of these retracements of over 30 percent.

$BTC 30%+ pullback coming?

Yes, eventually. If history repeats, there should be plenty of strong pullbacks on the way to next peak ATH

There were at least nine 30%+ pullbacks from last cycle accumulation & uptrend

Plenty of buying opportunities ahead, don't let it shake you pic.twitter.com/fMnhKzlpA8

— Josh Rager 📈 (@Josh_Rager) May 22, 2019

But the exciting thing about these pullbacks is the returns that follow them. The average gain after a 30 percent pullback has been 153 percent before we make yet another strong pullback.

$BTC: Reward of buying pullbacks

Previously examined how Bitcoin often experienced 30%+ pullbacks during last uptrend

But we didn't discuss how buying these pullbacks can reap rewards

The average gain after a 30%+ pullback was over 153% profit before the next strong pullback pic.twitter.com/vy08Dx5XbU

— Josh Rager 📈 (@Josh_Rager) May 23, 2019

This time as well, Rager emphasizes that we won't be seeing another bear market happening so fast and it will come only once Bitcoin make a new ATH in 2021.

“The down for a year isn't practical based on bull markets last 2x to 3x longer than bear markets, which means, we'll see it peak out in 2021 imo and no bear market until after that.”

As for the retracement, Rager says Bitcoin will go as low as $5,500 at most before it starts trending up yet again.

Bitcoin’s price is $26,343.00 BTC/USD exchange rate today. The real-time BTC market cap of $510.99 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $2.89 Billion and live coin value change of BTC -0.59 in the last 24 hours.

All of Today's Bitcoin Price Analysis, Chart Forecasts and Industry News

	01:38 PM	A Possible Crypto Recovery Moving Into New Year, Risk-on ...
	01:43 PM	Bitcoin and Ether Dump More Going Into Year-End, ETH Kill...
	01:41 PM	Bitcoin Now Awaits The ‘First Week of the Year Effect’ Af...
	01:46 PM	Short-term Holders’ Bitcoin Stake Drops as Price Falls Be...
	02:43 PM	Bitcoin Is Back Above $51k and Ether $4,100 as The Crypto...
	01:32 PM	Is This The Beginning of the Santa Rally? Markets Jump in...
	01:24 PM	Bitcoin Aims for $50k Ahead of Low-Liquidity Holiday Seas...
	02:36 PM	Bitcoin and Ether Breaks Trend With Outflows While Altcoi...
	01:40 PM	Cryptocurrencies Sees Fresh Signs of Green, But Will It L...
	04:04 PM	Are Bitcoin Bulls Dead? BTC Funding Rate Remains Low to N...