CandleFocus

Bitcoin Hits $92K Amid Sell-Off: Could a 30% Crash Be in the Cards?

Author: Content Editor
Bitcoin has experienced a significant drop in price, falling from $102,748 to $92,175 in the last 24 hours, marking a 10.3% decrease. This has led to discussions in the crypto community about the possibility of a larger correction. Analysts have pointed to historical trends that show Bitcoin often undergoes significant pullbacks weeks into its price discovery phase. The current downturn is consistent with these patterns, leading to concerns of a major pullback. Some experts have warned that a 20% to 30% crash for Bitcoin is possible, with potential bottoms at $87,000 or $76,000. However, a recent analysis suggests that Bitcoin's current cycle is exhibiting lower average returns and reduced volatility compared to previous cycles, indicating its transformation into a more mature and stable asset.

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