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.
It seems surprising for the newcomers but for those who have already been familiar with the market, this is a common scenario to see, dumps will undoubtedly come after the bull season. Yea, it was terrific to remember the past days, I didn't even figure out that it was already 1 year since we reached the ATH. For sure a lot of people had missed that situation and made it this year to take in preparation for the upcoming Bull season. I just hope everyone has done filling their bag/s ready for it because we are expecting Bitcoin will reach more than $64k as its new ATH.
Newbies have the mistaken idea that the markets can go parabolic forever as they do not understand the concept of cycles, and how bitcoin can do well during a period of time and then it can crash after it has reached a new all time high.
However for those of us which know what it is going on this is a good time as we can get bitcoin for a good price and by just holding it for a few more years we can achieve profits which are almost impossible to get with other assets, however newbies do not see things in the same way, and instead they are afraid of investing when the price is low as they also believe the markets can crash forever.