⭐ Merited by NeuroticFish (1)
Meanwhile only an idiot or a troll thinks that just because of such a move price could go below $30k let alone reach $3k 
$3K is a joke, but sub-$30K would be very typical for Bitcoin. Check out some of the pullbacks we saw during the 2017 bubble:
- January 2017: 38%
- March 2017: 35%
- June-July 2017: 41%
- September 2017: 40%
From $42K, a 35% pullback = $27,300. 38% = $26,040. It goes lower from there.
After failing out of a 3-day mode on significant bearish momentum, I would say the odds of seeing the $20,000s again are pretty good, better than 50-50. Historically, $24-27K would be the prime knife catching area. Great place to dump cash and go all in coin. Also a great place to hunt for longs while future premiums are low.
A good example is the fall from $2980 to $2120 back in June 2017 which is 28% drop right after price went about 100% higher than the previous ATH ($1200 to $2980 -> $20000 to $42000).
You see the similarities yet?
You see the similarities yet?
Bitstamp hit $1,830 on that correction. Coinbase went to $1,758. Back then, a few hundred dollars was significant. On Coinbase, the total magnitude of the June-July correction was 41.4%.