And why is that? Because the price always has to fall and we can't have higher prices? The bitcoin price is literally increasing every year, except for 2014. I would not worry and I do not believe in all the bear crap.
The bull v. bear stuff is something that has always puzzled me. I mean, surely anybody who owns any bitcoin is a "bull", no? Because if they were truly "bearish" about Bitcoin, they'd have kept their money in fiat, in a bricks & mortar bank, where it's "nice and safe". Nobody's going to have put their cash into Bitcoin unless they believe the price is going to go up.
Am I being overly simplistic?
there is short term, mid term, long term to be considered. i am a happy permabull. i think bitcoin will rise over $5k until 2020. we will see a new ath in 2017.
but i also think it will take at least until may 2017 to recover from this correction. if i had the guts i would sell some btc because i think we will see lower prices than the current one. but i am a coward, so i rarely do sell in moments like this one. just can´t stand the fear that price could explode therefore ending up with less btc...
I predict that in the April/May timeframe we will slowly creep over the $1K mark again, and the media won't say shit about it the next time. It'll be a non-event. Bitcoin probably won't be newsworthy again until the end of the year, when either an ETF launches, some major adoption announcement, or they do another round of those silly "which currency beat out all the others" type articles.
Oh, I did some paper trading once with bitcoin. Got my butt handed to me, would have lost out many btc if I had traded for real. Thank the godz I didn't.