Quote from: timerland on January 21, 2018, 10:08:26 AM

Quote from: pooya87 on January 21, 2018, 04:34:49 AM

bitcoin price may not "rocket to the moon" for now but at the same time there is no reason for it to drop any more.

right now it is the recovery after the big drop and we still have not reached the normal level which is above $14000. it first needs to get there, have some consolidation and then start rising fast like before. it may take until next month though.

Exactly, it's hard to rocket to the moon again when you may already be on the moon or close to it. But why would it crash again? Regulation is a huge concern right now, yes. But just because China bans miners, Indonesia bans bitcoin trading have not deserved to drop the price so much.

We're in the recovery phase right now... Bitcoin has been panic sold, and whenever there is FUD people are quick to turn in and sell, which is exactly what we saw a week ago. And what always happens after the FUD is over? Markets rise and everything is fine again, bulls come again.

Investors are still undecided, thus the price floating around aimlessly right now. But eventually, the projectory will turn upwards.

Drops can come in due to many unexpected reasons. All it takes is one big investor to pull out and people's speculation to create a drop. FUD follows, people get out of bitcoin, and the price drops immensely until people decide it's time to buy due to the value being so low. I agree that we are in a recovery phase, and that it's possible that the price can go up, but I don't know if that's the first path bitcoin will take. We'll need to wait and see for a bit longer.