The History of the Bitcoin ETF proposal in March 2017 was quite sugnificant for Bitcoin. We saw Bitcoin trading around $1,100 - $1,200 then the Final Hours before the decision of the Bitcoin ETF was made by the SEC, the price of bitcoin had fallen to around $850. After the announcement that the ETF had been rejected and all uncertainty was cleared and then the price of Bitcoin climbed to today's highs several months later. With a price between $2,500 - $3,000
It appears that the same behavior regarding uncertainty with the Bitcoin ETF decision in March is affecting the price of Bitcoin similar to the uncertainty of how bip 148, a user activated hard fork will affect Bitcoin going forward with a second or side chain.
Make sure that any form of your Bitcoin Storage will support bip 148 after Aug 1st.
Bitcoin correction history 2009-2017
Max BTC Correction: 91%
Min BTC Correction:38%
Average BTC Correction: 66%
This really helps me bridle my feelings as to holding Bitcoin during one of the swings of the moody beast.
Stay call and just say this is what hap been happening for the last 9 years. with a new Bitcoin Cycle about every 2 years.
The Exponenctial growth of Bitcoin
After making this chart the Market Pulled in over 1 billion USD in a single day. Not too long until we are on the way to a trillion dollar market.
From 1-10 Billion took 4 years while 30-40 billion took 10 days
with the launch of Bitcoin in 2009 to 2017 Bitcoin has been around for 8+ years just think what the adoption of Bitcoin and Altcoin will be when we hit the 10 and 15 year mark. The rate of Adoption will be unparalleled to any technology that has come before it as shown in the chart below.
You can see how the adoption of Blockchain will line up as a modern technology to be one of the next in line.