If you look at the all-time chart and draw a trend support line, you will see that Bitcoin can no longer fall below 10k. And this has a psychological meaning, showing that more and more people believe in Bitcoin and accumulate more of it.
Under the minimum price of Bitcoin, it is as if the floor of an elevator is slowly pushing it up. We are passing the point of no return, and this is cool, and we are still at the beginning of the journey!
That is why I am sure that no matter how the price falls, we will definitely see 100k.
Is not true that Bitcoin price will ever go down to $10k because as Bitcoin keeps growing that is how is crossing a line that can never be tested no matter how the dip it is, that's to show how strong Bitcoin is because from this correction that happens on the Bitcoin price I believe that before then there was already a benchmark made that it will drop to a point or possibly not getting to that point, so even while people were agitating for the price to drop further they never new that it will never drop below it benchmark, so perhaps that will also be the price definition of Bitcoin in the future were the price we are seeing now will be like when Bitcoin was at $20k.
It seems that we should not speak in terms of absolutes, even though the lower the BTC price the less likely that we are going to end up revisiting that, even though nothing is impossible in terms of either a low spike or even some kind of an issue that could end up happening.
Personally, I like to think about bottoms in terms of the 200-WMA (which is the bitcoin average trade volume price over the past 4 years), and historically we have not spent very much time below it. However, between June 2022 and October 2023, we ended up spending quite a bit of time below it, and at one point, the lowest point was right nearly 36% below the 200-WMA (which was
$15,479 on November 20, 2022 when the 200-WMA was then $24k).
Interesting observation.
I thought that 200-WMA is a great way to see the average price of Bitcoin, moreover, it is an approximate, but clear example of what meaning DCA carries. I mean that by buying from month to month according to DCA, we will eventually get an average price value. And in fact, 200-WMA is also an average price value, only displayed as a graph that is rebuilt from day to day in search of a weighted average value.