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What the heck is making everybody think this is going to below $30???
I would say that it's because of the first bubble. It went to $30 and then slowly dropped to $3. Second bubble was $260 so many people think BTC will slowly fall to $20-$30. Case closed
I think it's been getting somewhat steady as of late though. It's been big dumpers causing the fluctuations lately hasn't it?
Unless you believe the price is artificially being held high.
I believe it's the opposite and that it will go up more. We're still at a time where getting BTC by mining is still possible, and we're not even near the BTC cap yet. As we get closer to it, the value should rise because the demand will still be there (and be increasing) but the supply will be decreasing.
Perhaps, there are still a heap of people who "invested" with money they actually thought they would "flip" in the huge bull market rise when it skyrocketed up to $260... and now, they are still waiting to sell at $150 or $160 wherever they bought in... but they can only be so long without their invested cash, and soon, they will have to buy food, and clothing for the kids, and maybe their airconditioner needs to be replaced, and end up selling just to recoup their losses...etc...
I wonder howmany of those there are still left... you know the type that would NEVER READ bt or any other forum, they just did it because everyone was doing it... and now 2-3 months later, they actually need the money back to go on living "the life", albeit a little bit poorer
That's a very good point as well. With how much has been going on in the crypto community as of late, though, I don't think there's a massive problem with getting new money into the system. I'm seeing people buying all the time still.
I've already sold a portion of my holdings at 110 so I have enough fiat ready if it goes down.