The Bitcoin market is in a highly bullish phase, with many believing it could soon cross the $100K milestone. Investors are riding a wave of optimism as Bitcoin has surged by 45.65% since November 5, while the Altcoin market has seen an equally impressive rise of 46.57%.
It seems the market is unstoppable—or there is a correction incoming? Bitcoin is charging towards $100,000, up 0.99% since yesterday, and still holding strong with a 59.23% dominance. However, a slight dip in trading volume shows traders are both bullish and cautious.
Looking at the market scenario, Ran Neuner predicts that after Bitcoin hits the $100,000 mark, it will likely experience a correction, potentially dropping to between $75,000 and $80,000.
He believes this pullback can happen within the next four to eight weeks, driven by the typical volatility that characterizes Bitcoin’s bull markets. This price dip may reflect the past cycles, where corrections followed major Bitcoin price surges.
Is this your chance to buy the dip, before the BTC touches new highs? Let’s understand.
Neuner is gearing up for a potential Bitcoin correction by strategically adjusting his portfolio. He plans to hold 30% in cash, which will provide him the flexibility to buy during the anticipated market dip. Alongside this, he is reducing his leveraged positions and trading exposure, opting to focus on preserving his core Bitcoin holdings. This approach aims to minimize risks while positioning him to capitalize on opportunities during a pullback.
He expects Bitcoin to face a 25-30% correction after reaching the $100,000 milestone, which aligns with patterns seen in previous market cycles such as 2016-17 and 2020-21. Historically, Bitcoin’s sharp corrections are a natural part of its growth trajectory, often followed by strong recoveries.
Plus, Neuner highlights that altcoins typically rally when Bitcoin cools off after a major surge, as investors often redirect profits into smaller-cap tokens. With Bitcoin surging above the $100,000 level, he anticipates a similar trend this time, presenting a unique opportunity for altcoin investments at discounted prices. Despite the expected short-term volatility, Neuner remains optimistic about the crypto market’s long-term potential, fueled by regulatory shifts and investor sentiment, making this pullback a strategic buying moment.
Will Bitcoin hit $120,000 in 2024? Find out in CoinPedia’s bold Bitcoin Price Prediction and explore what’s next for crypto!
Overall, Neuner is optimistic about the future of crypto, even though he expects a short-term correction. He believes that in the next four years, the market will see strong growth due to changes in regulations and a shift in U.S. policies that favor crypto. Neuner sees the correction as a chance to buy altcoins at lower prices and remains confident in the long-term potential of the crypto market despite short-term ups and downs.
Bitcoin may experience a 25-30% correction after hitting $100K, as seen in previous market cycles, followed by potential recovery.
Experts suggest waiting for a dip after $100K for a potential buying opportunity, especially if Bitcoin drops to $75K-$80K.
Yes, after a Bitcoin surge, altcoins often rally as profits are redirected, making it a potential opportunity to invest at lower prices.
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