I remember those days like it was only yesterday. I'm surprised it's been a year. I think it's normal to drop. The value of bitcoin could not be expected to increase continuously. After each value increase, there will be a decrease. But such a drop came as a surprise, since everyone thought that bitcoin would reach the value of 100,000 dollars. The value of bitcoin will remain at the 20,000 dollars levels for a while longer. I don't think there will be a rise for at least another year.
Currently the bitcoin price is starting to strengthen above $20,000 and this proves that BTC is still strong enough to survive and continue its journey. When bitcoin hit ATH to $64,000 I expected the market to drop soon, but this year's decline was a pretty strong drop and crashed to hit the $17,000 support. It will take some time to hit the new ATH again, but Bitcoin will definitely hit it, now is a good time to buy and hold it for the long term.
Huge drop indeed, but Bitcoin remains at the level where it left off from its past ATH for 1 year. That alone indicates that Bitcoin is in no doubt gonna bounce back stronger. It will definitely hit a new ATH, it might hit the 6 digit figure as well.
Bitcoin is most likely going to have another run late in 2023 or somewhere mid 2024 or after the Bitcoin halving. The 4 year cycle will break the bear.
We are all indeed having those kind of hopes considering that we've seen on what happened on the past which it would really be that we are that optimistic when it comes to this.
The thing we do have in mind is that if we do able to sell into that peak then we indeed make a profit and buy later on when the price hits low ones.It cant be avoided and even myself
do always have these kind of thoughts that if we should have known that the market will correct this low then i might already had sold up my holdings into those particular price point.
Lets just wait but we dont know on how long it would taken up for us to recover or seeing these new ATH.