This week and month have continuously put bitcoin price to a slow move down and price now at $32,575 showing no sign of immediate recovery. Since the Elon musk tweet, the price of bitcoin has continuously dropped. As to what prediction is analysing, many are still hodling on and expecting more bear correction before deciding to buy. If buy orders are yet to be made, you can be sure that the bear will still continue.
I do not expect the price to go down below $30k. If that happens, it can make the market panic for a while. I am sure people who still believe in bitcoin will hold their bitcoin and buying more at every low price. But it is hard to predict when the bear market will end so I guess we need to calm down for more. I guess the price will still be like this month because we already see the market is not moving up or down too far.
There is still some time to buy bitcoin since it seems the price is going to remain close to the current levels during the short term, however we must not get complacent, many people make the mistake of thinking this is going to last forever and prefer to not buy until they accumulate more capital but since we do not know when the upward movement will resume then there is a possibility that the longer you wait the bigger the chances that you do not buy bitcoin at the current price which will be a total waste.
Hopefully, that will happen like that. If the price is down below $32k, it will be a good time to buy bitcoin as the price now is at that price. Maybe this time, we need to wait for a while because the price gets a red candle which we do not know if that can come back to the high price or it will still go down. If people do not try to accumulate more bitcoin from a small amount, they will be too late to do that, especially when the price starts increasing.