Are institutions and Government demands on Bitcoin able to save the chart this time?
Do let me know your thoughts.
The institutional investors (yes!) and probably government regulations are making the market more stable now. So a bearish market might not be the same as before, where the price would drop significantly and take a long time to recover. This time, any downturn might be shorter. Earlier this year, we saw bitcoin drop below $100k, hit $70k, and now it’s trading strongly at $100k.
You have got a point but does that mean if BTC corrects, price still have a chance of getting to those low levels expected from the chart?