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?
Ideally it should never be $5k reason is that there was such a huge buying around this region of 10k where this pump started that huge money is involved around this region. This include some big investors including FIIs now these people would ensure that they don't sell and let the price go below this point. And even if it goes there is going to be a huge amount of buying below this point which would ensure that it doesn't even lasts for more than an hour below this point. So I think we can rest assure that we are not going below 5k ever again.