Bitcoin's Volatile Slide: Experts Predict Short-Lived Pullback

Bitcoin experienced a 7% dip, its worst daily drawdown since August, as the crypto market cooled off. However, experts believe that the pullback will be short-lived and that cryptocurrency prices may rally to new highs by the end of the year. The decline in prices helped flush out excess leverage and reset the market. While Bitcoin and Ether suffered losses, some altcoins managed to defy the trend. The current correction was expected and necessary to unwind excessive leverage for a more sustainable price action. The liquidation of leveraged longs intensified the sell-off, but experts remain optimistic about the outlook for crypto assets.