Demand of bitcoin will increase more when there is a hype, when the hype is on then we can still expect a new ATH to be hit by next month, but for now, it seems that bitcoin has already dump and it will take another hype for it to rise again.
normal scenario, we have seen this in the past, bitcoin dump after a bullish market and we call it as a correction. it's happening now, hopefully this will not create some big panic from people who have invested during the recent pump.
Now we first will see some FUD, or rather already saw it with this hypocrite fuck Mnuchin. I guess it will dip some more to about 13-15 and hopefully stay there for some time. The more fuel the rocket has, the higher it can go.