Bitcoin (BTC) Faces Impending 'Aggressive Correction', Crypto Trader Warns

A popular crypto trader thinks Bitcoin (BTC) is on the path to a new all-time high, but he also warns that the top crypto asset could subsequently endure an "aggressive correction.”

Credible Crypto, a well-known crypto analyst, asserts on the social media platform X that Bitcoin has experienced three to four significant downturns following exponential price surges since its creation.

"For every action, there is an equal and opposite reaction. This applies to markets too. If you think we are going to have a parabolic rally to $100,000+ in a relatively short period of time, then you must accept that there will be an equally aggressive correction that follows.

Parabolic rallies occur because of greed and irrational exuberance and greed and irrational exuberance are what set a market up for devastating crashes. They go hand in hand. You don't get one without the other.”

According to Credible Crypto's forecast, Bitcoin is anticipated to achieve fresh record highs before experiencing a sharp decline.

At the time of writing, Bitcoin is currently being traded at $43,323. Since the beginning of 2023, the leading cryptocurrency has witnessed a remarkable surge of over 160%. However, it still remains more than 37% below its previous all-time high, which was reached in November 2021.