It will not go under $1200. Whoever was dreaming months ago about that is just a dreamer. Right now is not a dreamer anymore but an idiot. Even sub $2000 should never happen. $3200 as it was is just perfect. Yes it can go there in next 4 months, but most likely will dip to like $3600 minimum. Come on. $1200. Really? Bitcoin was $1200, 5 and half years ago.
In a bog standard pump and dump (which is what bitcoin is - a pump and dump scam), the $3000's would be the bottom in a standard pump and dump whose future is not to completely implode and die off and live to see another day. Since transaction validators are designed to centralize making it have zero fundamentals and no reason to exist, plus tokens being non-fungible and thus a permissioned ledger by default, it could also go the other way in a slow grind to complete failure, as anything with zero fundamentals would do on a long enough timeline.
Bitcoin's future relies entirely on how many clueless people you can fool because it's fundamentals are just not there - they don't exist. It's a govt created bancor scam designed to try and trick people away from actual money (physical metals) and into a cashless society slavery system. Everything about the "whitepaper" was a lie from day one. Things like "peer to peer currency with no middlemen". Every transaction has 3 or more parties involved. It has built-in, rent seeking middlemen and it's not even possible to do a transaction with only 2 parties! How the fuck is that "peer to peer"??
The big lie: "
the use of a lie so colossal that no one would believe that someone could have the impudence to distort the truth so infamously"
There's your
whitefraudpaper. Everything from $200 to $20,000 was entirely accounting fraud/tether fraud on Bitfinex, so who knows what the hell the real bottom is. Start with $200 then attempt to do mental gymnastics to try and buffer it higher by whatever nonsensical measure you choose.