Hi @simonjay, even if BTC would drop to such price levels you had mentioned, it would not be a worrisome event because BTC will just soon recover because of the current demand for it via the ETFs.
BTC currently dipped because of the sell-off coming from Microstrategy but it is just a part of volatility or "noise" on the wave of BTC movement. We always have to see the big picture which is the charts and we will have the idea on how BTC will go for the next few months and years.
If there will be no major global events will happen like another big war or another pandemic to cause another supply chain that would pin down the global economy, I think that it is unlikely that BTC will drop to 30K because there are more factors for BTC to head up in price like inflation and a possible quantitative easing to name a couple.
This doesn't mean that BTC will not go back to bear market because there will always be another bear market and the evidence for that is again, the charts. 😀👍
Thank you for taking the time to reply @cryptopie, I'm not worried about any BTC drops, if BTC wouldn't keep going up and down it would be harder for some people to make any profits.
I guess all I was asking is if it was possible in your opinion that during a bear market for BTC to drop to around 30k levels again. Thank you for answering this question.
I guess now I will have to wait on the next bear market to come round again, I think last time this took around 1 year of waiting for bear market to start again.
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