📉 Bitcoin Could Correct by 30% on Its Way to $100,000

On November 27, the price of $BTC fell more than 7% from its all-time high of $99,600 reached on November 22.

While most analysts agree that it is only a matter of time before Bitcoin breaks through $100,000, some expect a deeper pullback before the landmark high.

According to Ryan Lee, chief analyst at Bitget Research, Bitcoin could correct by up to 30% before resuming its bullish run:

“Investors will have to deal with intense corrections in its quest to break the psychologically important $100,000 price level. Historical data trends suggest that Bitcoin could still correct by 30% before it reaches its cyclical top,” the analyst said.

While historical chart patterns are not always accurate in predicting future price action, a potential 30% correction from $99,800 would hypothetically push Bitcoin's price below $70,000.