Good to remember things like this in the right light. The market is a lot more mature now. Just as volatile, I should think.
I don’t think we’ll ever see a 96% crash again (the sole exception being a hidden flaw in the bitcoin protocol). A 40% crash is going to be a “big deal”.
You go from pessimistic to optimistic to pessimistic.. currently seeming optimistic.. ?.
We had a 40% drop in mid September from $4980 to $2790, and then we had a 30% drop a couple of weeks ago from $7,888 to $5,555, and then we just had nearly a 27% drop from $11,395 to $9,000.
I personally think that a 60% to 80% drop is possible, especially if we look at spike amounts, and perhaps, it could be sustained at somewhere above 60% - however, it does not seem that we get there in the near future based on current BTC price market dynamics, and gosh, I am not sure how much we go up before a BIG ASS crash and even sustained downward manipulation becomes realistic.. so yeah, maybe we go up to $30k first, or perhaps $80k...
We cannot really know the amount that we are going to go UP until we go there and even how long it might take to get to the UP point. For example, I think that if all of a sudden, within less than a week, we were to do a 3x in the current BTC price, then that would likely NOT be sustainable and perhaps in that kind of situation, then we may get more than a 60%, and even perhaps spikes down to a 80% correction?
So, my point is that I would not rule out these kinds of BIG ASS corrections, even though in the current market situation, any such correction is not likely to get anywhere close to 40%, because we just had one, within the past week, that took us down nearly 27% and we "recovered" quite nicely.. so having another 40% seems a bit preposterous.. absent some major successful FUD or something like that.
