This is the 3rd or 4th time Bitcoin has Shot up to ATHs nearly vertical and then corrected itself. Should not be surprising to anyone at this point.
You are right but this time the correction was just too big to digest. I know it was going to drop at some point but so much support from so many angles led me to believe that it won't drop that much this because surely we have enough investors holding this time.
I have been saying for months that Bitcoin will most likely drop back down to the 20k range. Just look at the chart from 2018!
I wish I saw what you said but I still don't think I would have believed the way Bitcoin was cruising nicely that it would drop that much. Now that I have seen it with my open eyes, I still fail to understand how this keeps happening.
Similarly when it drops somehow people panic sell knowing it would go higher but that's just human tendency we cannot believe something that is coming down and cannot doubt what's going up in terms of the price of an asset.