One thing is clear though, all the doomsayers who claimed the bubble was popping are wrong. The recovery is clear and that drop was nothing short of a miscalculation by investors, who now realise their mistakes and are buying back bitcoins.
After rebounding to 16K, it seems that we're going back to $14K
Either we'll bounce at $14000 or bleed further to $12000. Glad I'm shorting at $15500. Definitely not going to retest ATH at 19K, let alone 20K, at least not this year, well maybe in 2018. I really expect Bitcoin to at least broke 10K and go lower. Guess that big correction is much needed now. Can't see it stable on 15K range, it's either mooning to 50K or broke to 8K. That's my call for shorter term in 2018.
Well bear and bull are pulling at the opposite side of the spectrum. That's why we will see it jump to above $16K last 24 hours, people reacted, dumping their coins, now its $13K once more, this will be the trend up until the end of the year. I see around $14K will be the stable price for quite some time. And the market will tend to be a a bearish side.
But I don't think that it can go down to $8K, too much money already poured on the market that I can't seem to see any significant drop to that level. Just what I have mentioned, it will be a continues pulling from both side until such time that the bulls won and a massive run ensures specially in Q1 of next year.
As far as recovery, bitcoin always rebounded from all the bumps, it has showed already in the past, although from time to time we will see some correction, but what usually follows is a recovery phase. No need to question bitcoin's resiliency from all of this catastrophic crashed.