I guess chart is pretty self explanatory and is based on previous history. We probably will bounce from here to something like 5.5-6k, but unless some insanely bullish news hit bearish trend should continue.
There are no guarantees and with the development of the crypto industry we might not see such a big pullback and currently be at the bottom of BTC price as public interest rises, however my personal opinion is that there is too much trash and weak hands at the market that need to be wiped out first before the next cycle begins.
No offence shitcoin lovers, but all the forks of forks of forks and moneygrab ICOs that currently have nothing but dreams and copy pasted whitepapers valued as multi million dollar projects need to be put where they belong and they are not there yet. For that to happen BTC's market domination needs to rise to the region of 60-65%, so we are not quite there yet and only when that happens new market cycle should begin.
There are no guarantees and with the development of the crypto industry we might not see such a big pullback and currently be at the bottom of BTC price as public interest rises, however my personal opinion is that there is too much trash and weak hands at the market that need to be wiped out first before the next cycle begins.
No offence shitcoin lovers, but all the forks of forks of forks and moneygrab ICOs that currently have nothing but dreams and copy pasted whitepapers valued as multi million dollar projects need to be put where they belong and they are not there yet. For that to happen BTC's market domination needs to rise to the region of 60-65%, so we are not quite there yet and only when that happens new market cycle should begin.