Bitcoin Hits $87,000 but Analysts Predict Correction

Bitcoin's price has surged to $87,000 in the past 24 hours, representing a 4.6% increase according to CoinMarketCap data.

This significant gain has led analysts to expect a correction, with some predicting that the price could drop back down to the $60,000 range within two months.

Doctor Profit, a prominent crypto analyst, had previously predicted that Bitcoin would reach $88,000 and has now placed short bets on the asset.

The analyst is watching for the weekly MA50 to be reclaimed as support, which could signal a bull-market trend.