This is the first rule of (BTC) trading should be “expect the unexpected.” In just the past year alone, there have been five instances of 20% or higher daily gains, as well as five intraday 18% drawdowns. True to form, volatility in the past three months was relatively low when compared to the recent peak.

An 19% correction is often a magnet for new traders in Bitcoin, regardless of whether it’s multi-million-dollar institutional fund managers or retail investor. The fact that the $13,360 correction to the Nov. 10, $69,000 high was made in just nine days is even more surprising.