The prevailing sentiment in the public sphere was that Bitcoin would never fall below $50,000, and this belief was widespread enough that people began to question it. However, Bitcoin did drop below $50,000, reaching $49,000 on August 5th, after a dramatic $21,000 decline in just seven daysâan astonishing development.
Now, there's a new belief circulating: "The correction is over!" But, as before, if this idea is repeated enough, people will start to doubt it too, which is perfectly natural.
In reality, it doesnât matter what the general public thinks or believes. What truly matters is your perspective as an individual. Many financial experts argue that predicting the future is impossible and that everything in life is random. Yet, these same people confidently assert that "Bitcoin cannot drop again." This contradiction is puzzling.
If the future is truly unpredictable, how can they be so certain that the correction has ended? How can they claim that Bitcoin won't fall any further?
Remember, the same people who now claim Bitcoin wonât drop are the ones who insisted it would never fall below $50,000, and yet it did. So, were they lying or simply wrong? Given that they believe the future is unpredictable, it seems they were wrong. But for those who analyzed the charts, it was clear Bitcoin would drop, and it did just that.
We find ourselves in a similar situation today: one group insists nothing is certain, yet they are equally certain Bitcoin won't drop again. Meanwhile, another perspective, based on chart analysis rather than random speculation, suggests that Bitcoin is heading lower.
The question now is: will we see a lower low before a new high, or is Bitcoin on its way to $100,000?
To me, the answer is clearâBitcoin is going down.
Thank you for reading. By Alan$BTC
