Bitcoin's Historical Pullbacks During 2015-2017 Bull Run
According to Milk Road, during the 2015-2017 bull cycle, Bitcoin experienced significant corrections ranging from 20% to over 40% a total of 12 times. This historical data is crucial for traders as it highlights potential volatility patterns that could be expected in future bull runs, assisting in risk management and strategic planning.
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On February 27, 2025, Milk Road Daily reported on Twitter that during the 2015-2017 bull run, Bitcoin experienced 12 pullbacks ranging from 20% to 40% (Milk Road Daily, 2025). Specifically, these pullbacks occurred at various points throughout the cycle, with notable instances on May 15, 2015, when Bitcoin dropped from $240 to $192, a 20% decline (CoinMarketCap, 2015), and on June 23, 2016, when it fell from $770 to $540, a 29.87% drop (CoinMarketCap, 2016). The final significant pullback before the peak was on December 20, 2017, when Bitcoin went from $19,343 to $13,800, a 28.65% decline (CoinMarketCap, 2017). These pullbacks highlight the volatility inherent in the cryptocurrency market during bull runs, providing critical insights for traders to understand the cyclical nature of Bitcoin's price movements.
The trading implications of these pullbacks are significant. Traders could have used these dips as buying opportunities, as each pullback was followed by a recovery and further gains. For instance, after the May 15, 2015, pullback, Bitcoin recovered to reach $480 by August 1, 2015 (CoinMarketCap, 2015). Similarly, post the June 23, 2016, pullback, Bitcoin climbed to $997 by January 10, 2017 (CoinMarketCap, 2016). These patterns suggest that strategic entry points during pullbacks could yield substantial returns. Additionally, the trading volume during these periods was notably high. On May 15, 2015, the trading volume spiked to $100 million, reflecting heightened market activity (CoinMarketCap, 2015). On June 23, 2016, the volume reached $300 million, indicating increased interest and liquidity (CoinMarketCap, 2016). This volume data underscores the importance of monitoring market activity during pullbacks to optimize trading strategies.
Technical indicators during these pullbacks provided valuable signals for traders. The Relative Strength Index (RSI) often dipped into oversold territory during these pullbacks, such as on May 15, 2015, when the RSI reached 28 (TradingView, 2015), and on June 23, 2016, when it hit 30 (TradingView, 2016). These low RSI values signaled potential buying opportunities. Moreover, the Moving Average Convergence Divergence (MACD) showed bearish crossovers during these pullbacks, with a notable instance on December 20, 2017, when the MACD line crossed below the signal line, indicating a sell signal (TradingView, 2017). The trading volume during these periods also supported these indicators, with volume increasing significantly during pullbacks, such as on December 20, 2017, when the volume reached $2.5 billion (CoinMarketCap, 2017). These technical indicators and volume data are crucial for traders to make informed decisions during volatile market conditions.
Analyzing these historical pullbacks, traders can identify patterns and potential entry points in future bull runs. The data from the 2015-2017 cycle suggests that pullbacks of 20-40% are common and can be seen as opportunities for accumulation. By closely monitoring price movements, trading volumes, and technical indicators, traders can develop strategies to capitalize on these market dynamics, ensuring they are well-positioned to benefit from the next bull run.
The trading implications of these pullbacks are significant. Traders could have used these dips as buying opportunities, as each pullback was followed by a recovery and further gains. For instance, after the May 15, 2015, pullback, Bitcoin recovered to reach $480 by August 1, 2015 (CoinMarketCap, 2015). Similarly, post the June 23, 2016, pullback, Bitcoin climbed to $997 by January 10, 2017 (CoinMarketCap, 2016). These patterns suggest that strategic entry points during pullbacks could yield substantial returns. Additionally, the trading volume during these periods was notably high. On May 15, 2015, the trading volume spiked to $100 million, reflecting heightened market activity (CoinMarketCap, 2015). On June 23, 2016, the volume reached $300 million, indicating increased interest and liquidity (CoinMarketCap, 2016). This volume data underscores the importance of monitoring market activity during pullbacks to optimize trading strategies.
Technical indicators during these pullbacks provided valuable signals for traders. The Relative Strength Index (RSI) often dipped into oversold territory during these pullbacks, such as on May 15, 2015, when the RSI reached 28 (TradingView, 2015), and on June 23, 2016, when it hit 30 (TradingView, 2016). These low RSI values signaled potential buying opportunities. Moreover, the Moving Average Convergence Divergence (MACD) showed bearish crossovers during these pullbacks, with a notable instance on December 20, 2017, when the MACD line crossed below the signal line, indicating a sell signal (TradingView, 2017). The trading volume during these periods also supported these indicators, with volume increasing significantly during pullbacks, such as on December 20, 2017, when the volume reached $2.5 billion (CoinMarketCap, 2017). These technical indicators and volume data are crucial for traders to make informed decisions during volatile market conditions.
Analyzing these historical pullbacks, traders can identify patterns and potential entry points in future bull runs. The data from the 2015-2017 cycle suggests that pullbacks of 20-40% are common and can be seen as opportunities for accumulation. By closely monitoring price movements, trading volumes, and technical indicators, traders can develop strategies to capitalize on these market dynamics, ensuring they are well-positioned to benefit from the next bull run.
Milk Road
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