Bitcoin Sees Healthy Correction as BTC Price Dips Over 5%, Analysts Stay Bullish for $100,000 ATH Soon

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Growing Legislative Support Accelerates Efforts to Hold Bitcoin in National Reserves

  • Bitcoin price falls from $99,000 to $92,000 in a day. 
  • This dump of over 5% is seen as a healthy correction for the crypto market. 
  • Analyst expect $100,000 to arrive soon after this shakeout.

Bitcoin has seen a heavy drop from the $99,000 price range to the $92,000 price range. Presently, Bitcoin (BTC) is hovering in the $93,000 price range and traders are slowly questioning whether the end of the pump has arrived. However, seasoned traders are recognizing this for what it is, a healthy correction before hitting $100,000 BTC price. 

BTC Price Dumps Over 5%

In detail, the crypto community, advised by long-time traders, are certain that BTC price will hit ATHs in the 6-digit price area by the end of this year. Four days ago, BTC price set its current ATH at $99,655.50, a number just a few hundred short of the highly anticipated $100,000 goal for BTC price. 

https://twitter.com/BTC_Archive/status/1861185567980941564

Analysts Expect $100,000 BTC ATH After Heathy Correction

While analyst expect to see 6-digit prices, the price of BTC instead took a dive over the last 24 hours. However, despite the increasing dump, seasoned analysts are not worried in the least. As we can see from the post above, one analyst draws attention to a similar price movement that happened last cycle. 

Another post highlights the same pattern of history repeating itself. To highlight, the price of Bitcoin dipped heavily in November 2020, months before Bitcoin set its next incredibly high ATH by March 2021. Therefore, seeing a correction now hints at the same pattern repeating this cycle for Bitcoin price. So, analyst await the arrival of $100,000 BTC ATH soon.  

The post Bitcoin Sees Healthy Correction as BTC Price Dips Over 5%, Analysts Stay Bullish for $100,000 ATH Soon appeared first on Crypto News Land.

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