The price of Bitcoin #BTC seems 'within reach' of $100,000, but we must not let this numerical target cloud our judgment. Rationally speaking, $100,000 is merely a psychological barrier, not the endpoint of the price, nor a guarantee that the price will rise forever.

Looking back at the bull market of 2017, Bitcoin surged from $1,150 to $20,000, with market sentiment extremely high. However, during this process, the price experienced several significant corrections: two at -33%, one at -40%, and even a quick pullback of -29% before reaching its peak. These adjustments almost always occurred when the market was overly optimistic and investor sentiment was at its strongest.

Similarly, while the bull market of 2020 saw a more mature market with greater institutional participation, it could not escape the cyclical nature of corrections. During the journey from $13,000 to $65,000, Bitcoin experienced significant adjustments of -16%, -20%, -31%, and -26%.

No matter how optimistic the market may be, corrections are always a 'fixed pairing' of bull markets and are a necessary process to cleanse leverage and short-term speculators.