After seeing the price of bitcoin stuck at the $20k price level, it will allow bitcoin to continue to experience further declines in price towards the $17K area. If the current price decline continues, it is possible that the bitcoin price will drop lower than the previous ATH level.
It's already the start of the winter in the market, I am pretty sure that we will probably see bitcoin go down much lower in the near future, I think that 17k might not be the lowest point that bitcoin can go, there's definitely a support but bitcoin is still as volatile as ever.
If you look at the current condition of the crypto market, which is still in a bear position, it is possible that the price of bitcoin has the potential to fall even deeper than the current price. Therefore, in a condition where the price of bitcoin is still experiencing a decline, it is better that now is not the time to enter to buy because the price of bitcoin has the potential to fall even further.
Not only is it still in a bear market, but Bitcoin is still failing to rise above $25k. Then there is still a possibility that the Bitcoin price will fall
below $20k again, especially since Bitcoin's movement is very volatile, make Bitcoin movements more difficult to predict. There are even
some people who believe Bitcoin will hit the price of $10k, but i don't believe it will happen, after all the price support $17k is very strong,
so my prediction is that the lowest Bitcoin price is likely to be $17k.
But that doesn't mean to buy Bitcoin we have to wait for Bitcoin to reach the lowest price, because Bitcoin doesn't necessarily fall below $20k,
because often our predictions are not accurate. So I prefer to buy Bitcoin at the current price, but of course do not use all the capital we have
to buy Bitcoin, because we can buy Bitcoin gradually. This means we will buy Bitcoin again every time the price goes down, that way when
the price of Bitcoin suddenly rises we will not regret missing buying Bitcoin at a low price.