Ash Crypto's recent analysis challenges the idea that $BTC highest price was $74,000. They use on-chain indicators and past price movements to argue that the current drop in Bitcoin's price is normal during a bull market. They compare this drop to previous cycles and suggest it might be a mid-cycle correction, not the end of the bull run.

They point out that despite concerns like Mt. Gox selling and FBI warnings, Bitcoin has stayed above $60,000, showing strength in the market.

Looking forward, they expect positive events like the start of trading for Hong Kong Spot ETFs and potential approval of Bitcoin ETFs by the Australian Securities Exchange in 2024 to boost Bitcoin's price. They also mention factors like the FASB rule and expected rate cuts in 2024 as potential positive influences.

They advise buyers not to panic over short-term price changes but to use them to gradually invest in cryptocurrencies, using a strategy called dollar-cost averaging. Overall, they believe Bitcoin's journey is far from over and the market could still see further growth.