Bitcoin price correction hints start of altseason, trader suggests

BTC price momentum started in October and helped the world’s top cryptocurrency make significant strides, gaining nearly $10,000 in the past month.

The Bitcoin (BTC) price recorded a sharp correction on Dec. 11, dipping 7% and wiping out the gains of the past seven days. The strong price correction pushed BTC to a four-month low of $41,329.

A decline in prices of altcoins followed the Bitcoin price correction, many of which recorded double-digit drops. However, market pundits and analysts believe the recent price crash is a part of the ongoing price cycle, and after two months of bullish surge, a correction is no surprise.

Crypto analyst and co-founder of Reflexivity Research Will Clemente said that correction and market volatility shake out weak hands and cool the highly leveraged crypto markets.

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  • bitcoinBitcoin(BTC)$23,844.000.01%
  • ethereumEthereum(ETH)$1,644.281.61%
  • tetherTether(USDT)$1.00-0.06%
  • BNBBNB(BNB)$308.030.36%
  • rippleXRP(XRP)$0.388411-0.90%
  • cardanoCardano(ADA)$0.382271-0.15%
  • litecoinLitecoin(LTC)$94.301.30%
  • tronTRON(TRX)$0.0696700.93%
  • LEO TokenLEO Token(LEO)$3.34-0.49%
  • moneroMonero(XMR)$152.41-2.87%
  • bitcoin-cashBitcoin Cash(BCH)$138.63-0.60%
  • stellarStellar(XLM)$0.091075-1.03%
  • eosEOS(EOS)$1.17-1.91%
  • tezosTezos(XTZ)$1.354.72%
  • Bitcoin SVBitcoin SV(BSV)$42.98-0.16%