Will Bitcoin Fall Even More?
Retracements of more than 20% are nothing new for Bitcoin (CRYPTO: BTC). Throughout Bitcoin's history, it has gone through more significant corrections than this current one.
Those that have been around long enough to remember other meltdowns of more than 50% in less than a month can attest that this is just another bump in the road. There have been roughly seven corrections since Bitcoin's creation that led to the price being reduced in half. From each one of these corrections Bitcoin rebounded -- every single time.
In April 2013 Bitcoin retreated 83% in a short amount of time. It lost another 50% when China originally banned Bitcoin in December of the same year.
Source Fool.com
