In my opinion, as it stands right now, the Bitcoin market is still in the bullish trend unless we see the price starts to blunge to $80k or $70k below, that's when we could say we are entering the bear market and can speculate on what the lowest price will be. There is yet high speculation that price could get to $120k or more this year and if that happens, then I think that Bitcoin might not go below $50k during the bear market.
Are you saying that if bitcoin does not reach $120K in this bull season, bitcoin may fall below $50K? And if does so, then what do you think the people’s reaction will be about bitcoin. Going down to $50K is kind of moderate to me but when we begin to see it going more lesser than that, it’ll really cause a lot of panic even when people know it’ll still bounce back. Some moments like this are what DCA investors are looking for. So I think as it will be a time for panic for some people, it will be the time most people will begin to accumulate more bitcoin.
Yes, I think so. If for example bitcoin get to $150k or $200k this year, do you think during bear season, we could see price go below $80k? With what I think, if price goes that high, it will create a strong support zone that price will never break during the bear market and the support zone price will be far above $50k.