Will BTC Fall To $100,000?

Bitcoin (BTC), which recently reached a record high of $124,128 on August 14, continues to fall after resuming its descent. Original crypto is down 8.5% since its peak. BTC has fallen below $114,000 and is now trading at $113597. According to CoinGecko’s Bitcoin dataBTC’s price has fallen by 1.3% over the last 24 hour, 4,8% on the weekly charts, 0,5% on the 14-day charts and 4.1% in comparison to the month before. BTC’s drop has caused a correction across the market.

Can Bitcoin fall to $100,000 in price?

As Bitcoin (BTC), has some price support, it could drop to $112,000 levels. A drop below $110,000 may cause investors to panic. BTC could fall to $100,000 in such a case.

According to CoinGlass BTC dataIn the past 24 hours, $450.55 millions worth of crypto assets were liquidated. Binance was the site that had the highest liquidation of Bitcoin (BTC)/USDT at $9.70 millions.

The market correction was triggered after higher-than-anticipated producer price index (PPI) numbers were reported. After the release of the PPI, investors may have been worried that interest rates would remain unchanged by the Federal Reserve. Bitcoin’s (BTC), price dropped significantly after the PPI release.

Investors waiting to see what the Federal Reserve will do at its Jackson Hole meeting this Friday may have exacerbated the correction. As investors search for clues to the US monetary policies, financial instruments could see price fluctuations. Bitcoin (BTC), as well as other assets that are considered riskier, has experienced more severe corrections in comparison to financial instruments with a higher level of stability.

Please Read This: Bitcoin Price Prediction: When Will BTC Be At its Highest This Year?

Bitcoin (BTC), the cryptocurrency, is likely to gain steam in the months ahead. CoinCodex analysts anticipate BTC to break out soon.

BTC is expected to reach an all-time record high on Nov. 15 of $142,040. To reach $142,040 at current prices will require a 25% rally.