Hi I have been toying with the idea of investing in BTC but have waited due to some investors saying the price will drop to 12 - 16k again. do you think it could still drop to this or are we more likely to move on up to 40k?
Rising and falling bitcoin prices are something that usually happens because bitcoin is fluctuating, so prices are certain to go up and down without anyone being able to control it. You don't need to think about this issue when you have the intention to invest, but what you need to think about is how to collect bitcoins. So far, people have been competing to place money in bitcoin because they are aware that bitcoin is the best asset that can provide maximum profits in the long term.
Pricing is not an issue and I highly doubt bitcoin will correct again to $12k-$16k as so far the bottom is not over $20k any time soon. I am a bit optimistic for bitcoin's journey ahead before it reaches ATH and hope that next month we will see a much greener move in the market.