Bitcoin is simply doing what it has always done, after every parabolic rally going back to 2011 when BTC shot up from roughly $0.50 to $32, there was a correction that followed which wiped out at least 78% - 86% of the gains before another bull cycle began.
We have all heard this saying before, often told to someone who is faced with a setback as words of encouragement. The idea behind the phrase is that simply pulling through an issue of any sort will make you come out of it better adapted on the other side. This saying in my experience is almost always true, so does it apply to Bitcoin and its current bear market?
As we enter Summer Bitcoin is once again in the Southern hemisphere and the middle of Winter opposite America and Europe. For as harsh and frigid as the temperature in the crypto space has been and is forecasted to be, Bitcoin is showing resilience by forming a base right where it did last Summer. Exactly one year ago today, Bitcoin was trading roughly $3,000 higher than it is today.
With the price of Bitcoin now hovering above $30,000 once again the coin that gave birth to a revolution is showing its staying power and ability to weather bear markets better than most cryptos out there.
