The cryptocurrency market has been experiencing fluctuations in recent times, with Bitcoin being no exception. After falling from its all-time high of $126,000 to around $67,000, a nearly 50% decline, many are wondering if the price will drop further. According to historical data, there is a possibility that the price could reach as low as $40,000 by November 2026.
The history of Bitcoin shows that it has experienced very deep corrections after reaching new highs. In 2011, the value jumped from $1 to $30, only to correct 93% and fall below $5. Similarly, in 2018, the price dipped by 84% from $20,000 to around $3,100 as investors booked profits.
Market cycle psychology also supports this bearish outlook. The Wall Street Cheat Sheet shows how Bitcoin moves through emotional stages, including Euphoria, Complacency, Anxiety, and Depression. Currently, Bitcoin is entering the Anger and early Depression stage, where fear, frustration, and heavy selling dominate.