Why is it that when bitcoin has MAJOR upswings, everyone is being positive and praising bitcoin, but when bitcoin has major LOWS everyone tries to pretend like they "Knew" bitcoin was a scam..
this is your biggest and key mistake which has led to your way of thinking.
the thing is, those who are talking too much know very little. and it happens that they always talk too much during rises and falls alike. most of them don't even know what bitcoin is and they only want to make some quick profit and get out. but
they do NOT represent everyone. it is only a small percentage that you can call "loudmouths" in crypto
If we can go from $1200 to almost $20,000... What on earth makes you think we cant go from $20,000 to $1200? Huh think about that for a second...
it depends on why do you think price went from $1200 to $20k? if you think it was a fake pump then yes of course it should be possible and even easy for it to drop back down to its "real" price. but was it really a fake pump or was it an adoption boom? in which case dropping below certain levels (such as 9k or the bottom at $6k) means
unrealistic and impossible lows even if they are reached.