Industry experts claiming that this bear market will last for 2-3 months max. By the end of this year we might see Bitcoins reaching 50k usd again. This is just an estimation and predictions, and to be honest I am also tired of seeing so many predictions.
Regarding the panic selling thing, yes i too agree on that fact that people don’t understand the market and panic sell their hard earned Bitcoins.
Nevertheless let’s see what happens next, and at least hope that Bitcoins should cross 30k usd by end of September.
Honestly I don't see bitcoin have potential back above $50,000 few months later after many bad news appear when bitcoin have reach little higher price. Looks have some community try to make bitcoin pump and dump drastically to get moment with short term trading, I think when bitcoin raise higher price last two days right now bitcoin back lower price from $23,000 and nowadays drop back under $20,000. Some people and investor still panic moment when bitcoin suddenly drop include have bad news will make them most panic for selling all bitcoin assets, hard to make them understood with bad news not give forever impact with bitcoin always drop.
We should really not expect ourselves to be having that positive way or path for bitcoins price because this market has always been unpredictable and there's no way that we could really tell if its already the bottom or
not.We should still consider that there's still having those Mt.Gox sell off that we've been keeping on talking several weeks ago and if that one would pushed through then i do expect something even more
decrease or decline on the market thats why we cant really make out conclusions about bottoms or peak prices because thats not how the market works or something predictable.
As a trader then it would really be just right that you would really be that wise and taking up the risk on every decision you do make.