It was around $80000 that bitcoin will fall to that some analysts posted. Later I saw someone posted $75000 or so on this forum yesterday but now another person posted $71500.
And a confirmed inverse head-and-shoulders pattern could lead to a further 20% drop potentially targeting $71,500.
What are your take on this?
I will say you should not believe those analysts all the time. If bitcoin price starts to increase, their analyses will be bullish and opposite to what they are saying now. As they predicted bitcoin will fall below $90000, bitcoin still do not fall below the price.
Basically no one can predict how bitcoin price will move, it is all just prediction and we can refer to it but don't trust it too much. I have said this before, when bitcoin starts to correct there will be thousands of predictions, opinions that bitcoin will continue to drop much more. But just one spike and all bearish predictions are erased and thousands of bullish predictions appear. Likewise, if bitcoin suddenly spikes and hits $99k again, there will be dozens of predictions about bitcoin breaking a new ATH and bearish predictions of $80k or $75k will disappear.
Bitcoin is unpredictable and crowd psychology will change and follow Bitcoin, not Bitcoin following crowd expectations.