What would cause bitcoin to drop 30% or more?
As you are wondering why Bitcoin dropped this far, that is also the question many people seem to be asking.
I didn't expect Bitcoin to drop that much this month, but that's what happened, but I still don't think it's a bearish trend yet.
If this happens because of bad news then it is only temporary until it returns to normal.
there's simply so many economic uncertainty as of now, making people hesitant to invest and holding onto cash instead.
but bitcoin already finished distribution phase for current ATH and we'll see what direction bitcoin will be taking.
as of now BTC just formed double bottom so there's hope.
but regardless, I think BTC gonna be fine, probably going back to $90k again very soon.
More time is needed to judge where we would head next. BTC will still prevail through 2025, even though now, the price seem to not go further than 100k, in the 85k~ range.