Bitcoin Price Falls to $93K: Crypto Analysts Unfazed by Market Decline
Bitcoin has taken a bit of a dip recently, dropping below $93,000, but don’t worry—experts are still feeling optimistic about its future. Despite a 7% correction, analysts believe that Bitcoin is still on track to hit six figures before the end of the year.
On November 22, Bitcoin hit an all-time high of $99,645, but has since pulled back to around $94,600. According to Markus Thielen, founder and CEO of 10x Research, Bitcoin is just taking a breather before making its next move. He mentioned that November tends to be a weaker month for Bitcoin, but overall, the outlook is positive.
Trader and analyst Bluntz, who has a following of 298,000, is feeling positive about Bitcoin’s future, stating, “I think up from here and it ain’t going as low as people think.” Some are even calling this recent drop the “flush before the rush,” hinting at a potential upward trend soon.
Charlie Sherry, head of finance and crypto analyst at BTC Markets, explained that these dips are normal in Bitcoin’s history of sharp gains followed by healthy corrections. He believes that this recent drop to $93,000 could be the “last flush” before Bitcoin breaks the $100,000 mark.
Even though there may be some further pullback, with potential support levels around $88,000 to $90,000, experts like Sherry are confident that Bitcoin is on its way to hitting six figures. Polymarket, a blockchain betting platform, even puts the odds of Bitcoin hitting $100,000 before Christmas at 72%.
CK Zheng, co-founder of ZX Squared Capital, sees $100,000 as a strong resistance level for Bitcoin in the near term. He anticipates a shallower pullback and expects Bitcoin to break the $100,000 milestone in the next few months. With a positive outlook and various expert opinions, it looks like Bitcoin is poised for continued growth in the near future.
