I have no doubt that the great bull run observed last year occurred because of a large speculative wave generated by the great rumors that bitcoin had the potential to be worth hundreds of thousands of dollars per unit, which led to many unsuspecting investors to buy in the middle of the vortex, motivated more by the FOMO than by a cautious analysis of the risks involved in an investment of that nature.

Because observing the behavior that the price of bitcoin had had the previous two years, I believe that the natural price of bitcoin at this time should be between $3,000 and $5,000, so I think there is still room for the downward correction to continue.