Analysts specialising in tracking Bitcoin’s price action say the cryptocurrency could see a 20-30% price correction before surging past $100,000.
The world’s first cryptocurrency has soared to a near all-time high of $99,800 on November 22 but has since retreated by over 7% to spark talk of a pullback on the way ahead of a likely rally to six figures.
According to Ryan Lee, a chief analyst at Bitget Research, Bitcoin could drop as much as 30 percent before resuming its wonky upswing. If the price drops 30% from that recent peak, it will fall below $70,000, a normal action in the always volatile crypto world. However, with $100,000 still within reach, Lee said the big trend is still bullish.
“In its bid to cross the psychologically important $100,000 price level, investors must deal with intense corrections. Historical data trends show that Bitcoin may still correct as much as 30% before it reaches its cyclical top.”
Most analysts believe that Bitcoin will one day skyrocket past $100,000, although the timing and scope of the correction vary. Blockchain expert and author Anndy Lian said it is only a matter of time before Bitcoin exceeds the $100,000 mark, but corrections are also common.
“Bitcoin reaching $100,000 isn’t just a milestone; it’s a testament to the growing trust in decentralized finance and the relentless pursuit of financial sovereignty. As global adoption accelerates and institutional interest deepens, the $100,000 mark symbolizes not just a price, but a paradigm shift in how we perceive and utilize money.”
At the same time, the performance of U.S.-based spot Bitcoin exchange-traded funds (ETFs) is sluggish, which is why Bitcoin has recently dipped.
According to Farside Investors data, the U.S. spot Bitcoin ETFs saw net outflows of more than $122 million on Nov 26, indicating a sense of caution among investors. But analysts at Bitfinex remain optimistic that this is the next leg of Bitcoin’s upward trajectory, supported by renewed ETF inflows coupled with strategic investments by MicroStrategy’s comparatively latest $2.6 billion on sale notice.
While it will be correct, most analysts agree that most corrections will not last long. BTC is expected to reach $100K by 2025, backed up by the belief that Bitcoin’s reaching $100K is just a matter of when, not if, thanks to a resilient market, ongoing demand, and institutional investment.
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