• There's strong evidence that the late 2017 spike in Bitcoin value was due to manipulation via Tether.
• IF that is so, then that entire episode actually means nothing, and...
• Bitcoin etc values will decay back to their historical levels prior to pump & dump.
• This will be slow because interim buyers won't want to take the losses.
Look at BC charts for the past 6 months. It's very easy to imagine the average value continuing to decay down to $400 in 12-18 months. And that's what makes sense - at least, more sense than anything else.
A few brilliant traders will make money getting in and out during the decline, but all the other players here are just rearranging deck chairs on the Titanic. The only "charting" you need is the big picture here:
https://imgur.com/a/QTYOQyL
Unfortunately, there seems to be no reliable way to buy a put on BC for that time-frame, or I would.
I think the fall of bitcoin at this time can not be a reason for falling bitcoin in the future. All depends on the market, and more likely the market will change and in the future bitcoin will be able to increase high.
I agree with you because bitcoin will always go down and up in every time and if bitcoin price is down too deep then maybe there is any bad news that comes out so it makes people become panic. or the whales selling their bitcoin in a big amount so it makes the price to get down too deep. everything can happen in the crypto and only people which are ready for the worst thing that can survive and they can buy another amount of bitcoin so they can wait for a while and sell at the higher price.
The result is in your front as the market is moving in circular path with no perfect improvement so this will change if we stop selling in this low market.
I hope that people can be patient for a while and wait for the price to rise more than they can sell the bitcoin. but I think some of the people are ready to sell their bitcoin right now because they see that this is their chance to make a profit again. I think bitcoin price will always up and down no matter today or in the future because of the price still volatile.