I have been following bitcoin price since the recent upwards price movement and I think $5875 has become the high and corrections has began. Checking price chart this morning I discovered that the down channel's line has been broken and that signal a dropped in buying momentum and price may get below $5,000. However, this is another opportunity to buy bitcoin at a very cheap prices as before the end of this year bitcoin might hit $7,000. This corrections is not going to be a long one, it might just be three to four days and we would resumes another upwards movement again.
Yes it's quite possible that bitcoin will reach $7000 by the end of this year. I think corrections will be a month long and we can see price will drop below $5000 as many people started to invest in altcoins and when they will get their profit they will return to bitcoins. I think this is normal no need to panic sell your bitcoins.