Looks like everyone is calling those 100k Bitcoin year end predictions into question and rightly so. Everyone was so hyped about the market and thought it could never go down but here we are at 40+k and the market down something like 30% from its all time highs.
The problem for a lot of people is that they bought on leverage and with crypto volatility being what it is, if you even buy on 2 or 3 times leverage, you could find yourself wiped out. So that is probably what is happening with leveraged longs being cleared out by whales and even the brokers themselves although the latter will never admit it.
Sooner or later, we will come to a point when it becomes too hard to push the price down further and then we shoot up. But for now, I think we could go lower to $42k by the end of the year.
Longer term, I think the price goes higher as the solution in a fiat system is always to print more money. That's what always happens and so the next time there's a pandemic, what will happen? More money will be printed and all that money has to head somewhere and crypto is a top choice.