Given 'institutional' investors who are more prone to hold through dips and ignore the paper loss; is it actually possible for BTC to drop to sub $5k ever again now?
There was a really good diagram showing how the composition of BTC holdings has changed over the years, and it shows a marked shift away from big portfolios into lots of smaller wallets; i.e retail investors.
I get that a few bigger whales might hold and support certain prices, but surely the collective holding of retail investors would be enough to move the dial substantially?
March 20 was the last time it was at around that level and it hasn't gone to that since.
What was fundamentally different about that period of time to what it is now that would stop us returning to that price point? I'd appreciate any reliable information sources to back up any comments?
The crash at that time happened because of the panic caused by the pandemic and nothing more, the crash did not happened because there was something wrong with bitcoin or anything like that, external forces caused the crash and it is exceptional for that reason, truth to be told we do not even need institutional investors that level was on the verge of being left behind for good until that crash happened, in fact it is possible we will never see the price of bitcoin below 10k again as even a crash of 75% from its ATH of 42k will leave it above the 10k level.