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The bears seem to rejoice when they hear the latest BTC predictions in the latest cryptocurrency news. As many analysts believe, big Bitcoin corrections are on the horizon – which is labeled as something ‘normal’ and expected in the current market cycle. At the time of speaking, Bitcoin is down over 30% from its 2019 high but could drop even further. For a third day in a row, it is circling around the $9,500 mark.

With very little movement in the BTC prices over the past 24 hours, we can see that the dominant cryptocurrency is stable between the $9,400 and $9,600 region. This is a very tight channel with little indication of a breakout in either direction. Big Bitcoin corrections may be coming because of it – and because of the fact that volume is dropping off – as many best cryptocurrency news sites report.

Meanwhile, BTC is holding on to support at the moment as the two day consolidation rolls into a third. From the peak of $13,800 last month, Bitcoin managed to decline 31% to the current prices. This would be a normal reaction if we consider the parabolic price rise in the recent weeks. In fact, we can see that there have been big Bitcoin corrections before – of up to 40% so further losses could be imminent.

According to the crypto trader and analyst ‘Crypto Hamster’ a new pullback is evident. He eyed similar trends during the last bull run and there were quite a few over the two year period. As he said:

“#Bitcoin used to have 30-40% corrections.
There is usually a lower low after the initial sell-off followed by a recovery.
It always seems that we are going much lower.
But we never do, unless it is a global bull-to-bear transition.
Why now we shall drop more?”

#Bitcoin used to have 30-40% corrections.
There is usually a lower low after the initial sell-off followed by a recovery.
It always seems that we are going much lower.
But we never do, unless it is a global bull-to-bear transition.
Why now we shall drop more?$BTC $BTCUSD pic.twitter.com/2c49JEc0kB

— CryptoHamster (@CryptoHamsterIO) July 30, 2019

The key thing to note right now is the lower lows. As big Bitcoin corrections are expected, the bull market remains established knowing that Bitcoin should not plunge below $6,000 – which could in fact mean a major trend reversal and big losses in the Bitcoin and altcoin news.