Too many sellers not enough buyers.
Next question?
Next question?
This. Stop trying to overcomplicate things.
Its just demand vs supply.
A lot of the demand is probably "hidden" right now. People waiting for a clear bottom to get as much coin as possible for their money.
Because of this, I believe that at the first sight of a trend reversal, this hidden demand will jump on board instantly, making us return to the 600-700$ range.
Are you saying this because you currently hold a lot of BTC or are you just hoping for this to happen?
because I think the exact opposite is happening. Loads of people tired of holding are selling
Of course or else I would not be here
But I'm quite sure that most people who are into Bitcoin see a great, perhaps even desilusional, future in it. Hence I do believe the true demand is higher than the supply right now.