As long as we stay below $8.200 in january, i'd be bearish (short term).
I'm expecting the Chinese scammers that have a complete monopoly over Bitcoin at places like Bitmain to try and rig the price up to keep their monopoly on this "decentralized" system profitable, but then discover there are only people looking to dump Bitcoin at higher prices and nobody looking to buy them at higher prices, and then Bitcoin's greatest ever financial implosion. Unless places like Bitmain are completely backed by the Chinese government now and they just print money and hand it to them to keep their monopoly scam afloat.
Would it really be surprising if Bitcoin had an emperor with no clothes moment and complete implosion after Luke Jr already admitted it was a scam years ago when he said there's no reason to buy an ASIC because the money just allows Bitmain to build 10+ of their own? So anyone 'supporting' Bitcoin by mining is essentially making it a more centralized scam in the process by his own admission. Kinda hilarious how few people grasp this concept that Bitcoin is 100% pointless unless it can be mined with off the shelf, commodity hardware that's not cornered and price gouged by some sort of Chinese communist group.
You're not supposed to buy coins from an exchange or buy ASICs from middleman monopolies, you're supposed to mine them yourself. That's where the decentralization originates from. Without that dynamic, it has no reason to exist.