It's a possibility. According to the following article, we could either see a correction of 47%, or the price will jump to about $6000:
http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.htmlBitcoin is close to hitting a price that could see a 47 percent correction, according to one analyst, following a huge rally for the cryptocurrency that has led it to record highs.
On Thursday, bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.bitcoin hit an all-time high of $2752.07, according to CoinDesk data, marking a 175 percent rally year-to-date.
Meanwhile, the number of long positions – those betting on bitcoin to rise – has risen 18.2 percent, while short positions – those thinking the cryptocurrency will fall – have declined 10 percent since the start of the week, showing that traders are getting more bullish on the cryptocurrency, according to data from Bitfinex.
One technical analyst, who looks at historical trading patterns to determine future price moves, told CNBC that the $2,800 could mark a level of resistance where the bitcoin pulls back
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The article then goes into stuff about fibonacci waves.
The dump has started, Bitcoin is below $2000. According to the article above, it could go to $1470:
Currently, the bitcoin world is in "wave three" and according to Duke's analysis, $2,800 could be the level at which bitcoin begins its fall. The price is likely to hit $1,780, but could even fall as far as $1,470, Duke told CNBC. This would mark a 46.5 percent decline from Thursday's high.
