‘Even In A Parabolic Bull Run’ Bitcoin Can See 30% Pullbacks – Top Analyst

Quick Summary:

Bitcoin has experienced a 7% pullback from its all-time high at $99,800 after failing to break above the psychological $100,000 mark.

This retracement, while causing some concern among investors, is seen as a necessary consolidation phase for the cryptocurrency to build strength before continuing its ascent.

The last strong level of demand to watch would be the $88,500 mark, as a drop below this price could lead to a deeper pullback.

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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: Hungary

Topics: Btc Bitcoin Price Action Bitcoin Bitcoin News Bitcoin Pullback BTCUSDT Bitcoin Bull Run Bitcoin correction Bitcoin ATH Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 08:00:16 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 539 words

Reading Time: 3 minutes read

Sentences: 48 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23904220

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 11 posts per day

Year Established: 2014

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News Last Updated: 10 hours ago

Coverage Areas: Hungary

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Publisher ID: #105

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