Bitcoin (BTC) recently reached a milestone by hitting a new high of $100,000. However, experts anticipate that a significant price correction may be on the horizon. This surge to $100,000 is partly attributed to the cryptocurrency market's preference for round figures, which often drive investor behavior.
The recent Bitcoin rally was notably influenced by external factors, such as Donald Trump's electoral victory on November 5. This political event spurred momentum in the market, contributing to Bitcoin's crossing of the $100,000 threshold.
Despite this achievement, experts caution investors to be prepared for possible price corrections. The market's dynamics and psychology behind round numbers could lead to fluctuating prices as the market adjusts. Investors should remain vigilant and consider long-term strategies when dealing with Bitcoin investments in such volatile conditions.
