Bitcoin Set for $68,000 Milestone Before Major Pullback

Bitcoin’s Bull Run: 35% Rally and a $68,000 Target?

What’s the Big Picture?

Bitcoin has surged 35% from its January 23 swing low of $38,505, putting it right below $52,000 today. According to analyst Cory Mitchell of Trading.biz, this uptick could be the start of the next phase in the current bull market, with a potential peak hovering around the $68,000 mark.

Pullbacks & Rallies: Quick Stats

From Nov. 2022 to Feb. 2023: +63% rally
Feb.–March 2023: –23% pullback
March–April 2023: +59% rally
April–June 2023: –20% pullback
June–July 2023: +29% rally (stuck in range)
July–Sept. 2023: –22% pullback
Sept. 2023–Jan. 2024: +97% rally
Jan. 2024: –22% pullback
Since Jan.: +35% rally

This run shows pullbacks slightly smaller than the decade’s average, and a few rallies that are a bit off the mark (59% and 29% vs. the usual 73%-91%). One rally, 97% from September 2023, nearly doubled the price—talk about a fireworks display!

History Loves a Good Turnaround

Cory mentions that whenever Bitcoin takes a 70% or larger dip, it often returns way up.

After an 83% drop in 2013, Bitcoin shot up 1000%.
Following a 78% plunge into 2015, it again surged over 800%.
A 72% fall into 2020 led to an 850% rally.

In this current climb, we already see a 35% rally out of a 22% pullback. If that pattern follows the historical one, the next big goal could be around $70,000 before the next big dip.

What Could Happen Next? The Upside & the Downsides

Two pathways lie ahead:

Bitcoin might hit the $150,000 boiling point if the rally runs wild, mirroring former 1000%+ records.
It could stall sooner, settling for a smaller climb this time—think of it like a yo-yo that doesn’t quite reach the roof.

Either way, these numbers are just statistical breadcrumbs; they’re not a crystal ball. Still, knowing where Bitcoin historically likes to bounce can help chart a smarter strategy.