BTC might rally to 7200 in the short term but 6,000 is the likely outcome!
The reason for the slump is not the exchange hack: Opinion
Whales that manipulated the futures contracts are running for cover and selling. Think about it. They need to sell because if the SEC pursue them they could work a way to freeze their Bitcoin. The SEC and Justice Department are tracking these entities. The whales will liquidate to FIAT and re-enter most probably doing cloaked pumps and dumps on coins!
This is my opinion!
Im not saying that you are wrong because possibilities might really happen along the way but talking on whales would opt out already due to SEC then i dont know if this do have the chance to happen. $6k is a considerable price for us to dropped yet we are already 700usd ahead on that range but it doesnt mean that this would be the end.We are still young and developing ending up anytime soon isnt still considerable.