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Renowned on-chain analyst Charles Edwards explained the level at which Bitcoin could decline if the correction continues.
While the cryptocurrency market has been turbulent for about 1 week, analyst Charles Edwards made a statement on the subject.
Stating that the corrections seen during bull runs have historically been limited to 30% declines, the experienced name adapted these data to the present day.
He pointed out that we are already experiencing a correction of about 15% and that we have gone down to the $60,900 band, while if the correction reaches 30%, the level of $51,000 can be seen.
The analyst hinted that a decrease in this rate is acceptable and that everyone should make their preparations: