Since its March 14 peak of $61,000, Bitcoin has corrected by 12.3% to $53,500 during Asian trading on Tuesday, March 16, before recovering slightly to trade at current prices of $54,350 according to Tradingview.com at the time of press.
How Deep Will The Correction Go?
The previous correction on Feb. 22 resulted in a pullback of 26% while the one that followed Bitcoin’s first foray into the forty thousand dollar zone on Jan. 8 was closer to 31% as the asset fell back below $30k.
A repeat of such corrections from the BTC’s most recent $60k+ high would result in prices dropping to somewhere between $45k and $42k.
Major liquidations have occurred over the past day or so as highly leveraged positions went pop on a number of major exchanges. According to Unfolded, citing data from bybt, over $800 million worth of long positions got liquidated within a 15-minute timeframe on March 15.
Over $800m worth of long positions get liquidated within a 15 min timeframe.
data: @bybt_com pic.twitte
Źródło: https://cryptopotato.com/how-bitcoins-third-correction-could-drop-prices-to-42000/
