Correct. I see the current price correction trend in bitcoin still has the potential to continue and move to the $40,000-$39,000 level. Even so, I believe the current correction will end soon because when negative sentiments like this have often occurred in the crypto market, over time the market will become increasingly immune to negative sentiments.
how soon? I think 1 year is not enough based on the trend, so it's safe to assume that we will not see a new ATH this year and the market will be bearish. When bitcoin pumped to over $40k, some investors think that the correction is over and we are heading to a bull market, but it's not easy as that, until now the price is still struggling and until we get back to $60k, I don't think we will have a bull run this year.
The current price movement, I can sense that we are going back below $40k again.
That Bitcoin's price will drop below $40k is almost certain. It is also very likely that we will see the $35k level soon. However, I think a long lasting bear market is very unlikely. Many people suggest that the 2018 decline will repeat itself and the price of Bitcoin will drop by 80% - 90%, but in my opinion it will not happen. In recent years, the number of cryptocurrency users has increased enormously, which will cause the price chart to flatten and the violatily will be smaller and less sharp. I believe that the downward trend will change in a few weeks and we will have new ATH this year.