However, we need to consider that this would correct very quite soon. And perhaps, it can drop further based only on my opinion
it depends on what you have in mind when you say "drop further". it is perfectly possible to see price reach $30k and then drop to $24k which is a 20% drop.
but if you have a drop down to $19k or basically anything lower than $21k then no it is not possible and it is not a correction anymore.
(P.S. moderator this is not a speculation).
it is speculation when you are talking about the possible direction price can go in!