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RE: Will Bitcoin Hit $8,000? - How Far will Bitcoin Drop? - Should You Buy BTC CryptoCurrency?
I could see Bitcoin reaching the $6000 mark before a meaningful pullback. Another note to take is that price usually moves much faster on a downtrend. Bull markets are usually two or three times as slow (this is when looking at the total market cap). So don't expect a very rapid recovery. Saying that, these markets could do anything :p
definitely agree with your statement on bull market speed. as fast as it goes up, we could lose it just as fast. slow and steady gains are stronger and will remain firm in the long haul
I agree with the $6000 valuation. I had the seem thought. I think we will see a strong recovery. I know a lot of newer investors are only experiencing these kinds of pullbacks for the first time. In my opinion, I think they will settle down and stop panic selling everytime a market correction occurs. But like you said, this market can do anything!
Not sure it will fall all the way to the 6k mark but you never know. I imagine as he said, a lot of whales will be hovering, just waiting for the price to show its soft belly, to pounce. Not just whales though but certain cryptocoin news anchors too.