Bitcoin, like other cryptocurrencies, is going through a bust cycle. Here is a chart to demonstrate how much further selling we can expect on BTC from this point on. Based on Historical data, bust cycles have averaged a massive 88% drop from peak to trough before bottoming out. If this thesis is true, we can expect BTC to be in the $9,500 - $12,000 range when it bottoms and begins the next move. Currently we sit at 78% down from the peak, and with the bear flag it is forming on the larger timeframes, further selling is expected.
Let me know in the comments what you all think. Have a wonderful weekend
Let me know in the comments what you all think. Have a wonderful weekend