there are fundamentals that prevented bitcoin from dropping below $17k
no one on the planet was able to mine bitcoin cheaper than $17k at the time of the 2022 LOW
I like your enlightenment, the perception is true, yet my question is in assumption. You have replied with the reality of today, fine, but anything could happen fundamentally and Bitcoin could drop even with a lower mining price to fulfil the assumption.
I think most people would be buying up in large quantities
I beg to disagree with you. People behave like doubting Thomas, it is when they miss the opportunity that their eyes will clear. I will not blame them though because the asset that had hit almost $69,000 dropping to $1000 will be less attractive to buy.
I bought my first coins at $400+ and I can still kick my ass that I did not buy more coins at that time. Ok, I had to cash out on some long-term investments to buy bitcoins back then, but those investments were dead as a horse, with 10% profit per year. I sold some of those bitcoins for a 800% profit....
Someone like you already has all it takes to take the risk in Bitcoin, I know you can beat your chest to reinvest at that lower price.