Quote from: tbterryboy on Today at 06:48:19 PM

I guess all of these latest increases in bitcoin has finally caught up with us, there is no way that bitcoin could ever be this low without people giving up on it. I am assuming the reason why people gave up on it is the fact that we couldn't go up. We have tried to go above $12k for a long time and in the end we failed over and over again so eventually buyers turned to sellers because they couldn't make more profit when they bought so they gave up.

That could be the reason, but maybe in time, bitcoin will start breaking $12k and pump to a higher region.

As per this exchange, https://www.bitfinex.com/t/BTC:USD?refcode=H70YTMupQ.. bitcoin price already went down below $10k in the last 24 hours, so it could be a sign that we are going bearish again, but on the other hand, it's also possible that we will pump from this low price.

Quote from: tbterryboy on Today at 06:48:19 PM

Moreover, there was a lot of money coming into bitcoin and then going to other stuff like DeFi or whatever and when that hype died down we have went down in the money coming in and we have increased the money coming out as well. In short if you do not make people money they are not going to be supporting you long term.

The hype is big for DeFi projects, but the word hype itself would result to overvalued price, and that hype will cool down soon.
However, for long term view, people have different perception, so it's hard to judge that as I myself is not even sure if the project I have invested will give a positive ROI.