I could not understand why there are those who are also in Bitcoin yet are predicting that Bitcoin can go as low as $3,000 or even $5,000 when a crash can happen soon. I am not saying that a dip -- a big dip -- will never happen but considering the things happening right now in the world of cryptocurrency, I don't believe that it can go as low as those figures.
Maybe if one day USA will decide to follow the footsteps of Japan in banning Bitcoin trading activities, then maybe it can be possible that Bitcoin can crash big time but even then it can still be able to recover fast due to people always waiting for an opportunity to buy Bitcoin cheaply.
Are you expecting Bitcoin to get so low once it crashed?
I think $3 or $5k is far too low, it will come down at some point but nowhere near that level hopefully, I think it will be hard now for bitcoin to fall below the $10,000 point.
People will fear that it will crash and even now when it dips a few % people start panicking and start saying it's crashing, many of the people saying this are new to bitcoin and are used to traditional stocks where a 10% drop would be significant, in Crypto these drops are the norm.