Analyst Warns Bitcoin Price at $100,000 Could Trigger Major Correction
The Bitcoin price recently surpassed the $100,000 mark for the first time, raising questions about its future trajectory. Analysts largely expect bullish momentum, though some caution against potential corrections.
Potential Price Correction at $100,000
After multiple attempts, Bitcoin has crossed this psychological threshold and is now in uncharted territory. Despite a brief retracement below $100,000, many investors view this as temporary, believing Bitcoin will continue to rise.
Contrarily, a TradingView analyst has labeled the $100,000 level as a "dangerous zone," predicting a possible drop to $72,000 following a correction. The analyst suggests that if Bitcoin falls below $94,000, it may retest $88,000, with further declines expected if that support fails.
Bullish Sentiment Prevails
If bearish predictions materialize, the crypto market could slide into another downturn, impacting other cryptocurrencies. However, current market sentiment remains optimistic, indicated by a Fear & Greed Index score of 81, suggesting extreme greed. Some analysts anticipate Bitcoin could reach highs around $140,000.
Currently, Bitcoin trades at $98,350, having tested $94,000 after breaching $100,000. The price rebounded from this point, indicating ongoing volatility.
