its gonna stick around the price point where all those big boys from investment firm or management fund enters bitcoin. Those are people with the huge amount of bitcoin in their pocket and with the higher chance of controlling the market.
Maybe people could panic selling but those people gonna bag hold and buys around the dip for sure, it's gonna stick around $25K I guess
You might be on to something there. $25,000 is a realistic figure in my opinion.
Its a fair point, the 2018 low was an ironic positive because it was far beyond the previous high and not really as negative as it could have been. My personal take is still to go on something like the 2019 highs rather then 2017 because I think we had more volume and involvement in 2019 and so its more significant but thats an especially negative take I'm putting forward compared to most. I dont mind sticking with that also because of the 200 day average being near to that also, I do think long term prices are much different to the froth.
Most are saying 20k or more, I guess half is a fair guess. Its impossible for people to know because it also depends on dollar, in 2018 the dollar index rose almost the whole year and it was a flip to the '17 trend hence upset. If 2021 is very similar to 2020 in that its a decline in dollar index or various FIAT strength then you wont have this upset and sell off in the same way.
That $20,000 figure seems to be popular but as with any crypto there is no way to know what will actually happen and going on past curves in not always reliable in an unreliable crypto space.
Those years were too far away and passed on scanty liquidity to seriously discuss them. I think the rule "after updating the ATH, do not fall below the previous ATH" should work, otherwise the majority of long-term investors will simply be disappointed in the cycles and lose the motive to invest between halvings.
Yes you are right it was such a long time back, years ago but forgetting about them entirely might not be a good idea because people lost money, houses and livelihoods because they brought and sold crypto especially Bitcoin at the wrong time.