Charlie Sherry, the head of financial and cryptocurrency analyst at BTC Markets, stated that Bitcoin's recent drop to $93,000 "is best understood as part of its historical pattern, which is a healthy correction following a significant rise." He added that these pullbacks "indicate a cyclical pattern that allows the market to consolidate gains and reduce leverage before further increases," and then predicted that this could be the last significant pullback for Bitcoin before it reaches $100,000. CK Zheng, co-founder of ZX Squared Capital, commented that $100,000 is a strong resistance level for Bitcoin in the near term, "some long-term holders may choose to reduce their exposure to Bitcoin below this psychological barrier, and the market may enter a consolidation phase after the huge volatility following the U.S. elections. We believe the pullback is healthy, but the extent of the pullback will be relatively small. A 20% pullback would provide a great entry point for new long-term investors." Zheng stated that the company expects Bitcoin to break the $100,000 milestone "in the coming months" as the new Trump administration pushes for cryptocurrency-friendly rules and regulations in the U.S. (Cointelegraph)

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