Crypto market analysts remain confident that Bitcoin will hit six figures before the end of the year despite the recent 7% correction.
Crypto market analysts say Bitcoin’s recent correction to below $93,000 will be short-lived, and the asset is still on track to reach six figures before the end of the year.
Bitcoin (BTC) has pulled back almost 7% from its Nov. 22 all-time high of $99,645, hitting an intraday low of $92,775 during early trading on Tuesday, Nov. 26. However, the asset recovered to trade at around $94,600 at the time of writing and analysts remain bullish for the remainder of this year.
“Bitcoin is consolidating ahead of the long Thanksgiving weekend, as traders anticipate a decline in implied volatility,” 10x Research founder and CEO Markus Thielen told Cointelegraph on Nov. 26.
