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Except we didn't follow the last 2017 bull and bear that caused real panic to hodlers and they dumped more in losses while price kept fallin. At the moment bitcoin touched $64k and down to $54k, that can't be called a bear, is just an 11% which can't be compared to bitcoin bull move. IMO it is still in bull and when hodlers dump, it takes another dive after a while. So we may see $70,000 on any further bull.
People who involve in bitcoin from 2013-2019 will know the moment that happens in 2017. Many of us panic to see the dumped happen in 2017-2018, and in the next year, the price slowly gets down and makes many people leave the crypto for a while. The downtrend that happens to bitcoin slowly changes this year and the price can back to increase and even recorded a new ATH this year. So this downtrend is just another moment for people to buy bitcoin at a low price than yesterday. If you want to use this moment, you can start to buy or wait for more to see the other lower price.
I agree that the 2017/2018 incident made many investors fear that the same thing will happen again this year. Even though this year is clearly
very different in my opinion, apart from many institutions that have started buying Bitcoin. Bitcoin has also begun to be trusted as a payment,
not a few merchants are starting to accept Bitcoin as payment right now. This is positive news that makes the demand for Bitcoin even higher,
then the correction that is happening now is indeed the right time to buy Bitcoin again. I believe Bitcoin will recover soon, so stay patient HODL
Bitcoin that we have. Or we can buy Bitcoin at the current price, before the price goes up again.
It is good to think that the image of Bitcoin improves over the year from being hated now being supported by large institutions. As time goes by and every year will pass, along with it the massive adoption we've all been waiting for will eventually gonna happen. If more institutions will come over crypto this will be a reason for other counties to lift the ban against crypto, especially in Bitcoin. This will increase the demand for Bitcoin and will cause a positive impact on the price. It may be under correction right now but this is one of the best opportunities to buy cheaper coins for use to maximize our profit.