These predictions appear nice, but you are forgetting about the real drivers of demand for bitcoin. They are the following: 1. Nerds and Libertarians 2. Drug dealers and buyers 3. Collapsing foreign currencies 4. Scammers and financial criminals 5. The news cycle 1. Nerds and Libertarians - the inventors and purveyors who claim bitcoin is a great store of value and commerce while it is difficult to use and too volatile for a store of value. The true idealists will throw good money at crypto due to their world view. They are the reason bitcoin may approach 0 but would never actually hit it. The idealists will keep it alive. 2. Drug dealers and buyers - the first run ups were correlated to the rise and fall of the silk road and other online drug sales. As BTC was never truly anonymous the rise of monero and other anonymous currencies threaten bitcoins dominance. Crypto will never go away as long as drug dealers want to be paid online anonymously. https://www.ft.com/content/27ca2d60-2b89-11e3-a1b7-00144feab7de 3. Collapsing foreign currencies - See Venezuela and other currency crisis. 4. Scammers and financial criminals - as the SEC does not appear willing to outright ban crypto we can expect more scammers to sink in. After Sarbanes Oxley and other SEC crackdowns pushed fraudsters out of the pink sheets they slowly migrated to the crypto markets for fresh meat. Ether tokens have made this easier as you no longer need technical competence to launch a new cryptocurrency. Google wolong for the dogecoin saga. https://www.coindesk.com/dark-days-dogecoin-scammers-bandits-brought-cryptos-friendliest-currency/ 5. The news cycle - as long as CNBC reports on crypto there will be widespread interest even if to get in on the next boom or dead cat bounce. I suggest you hang out at bitcointalk if you want new perspectives.
Litecoin turned out to be so deceptive and this is a huge disappointment when it comes to cryptocurrencies.
I really don't see it dropping sub 1k. There will be very very strong support at 1kish prices. I don't want to say never as there is no such thing as could never happen in trading, but odds of bitcoin dropping sub 1k is less than 1%.
You called the bear market, I'll definitely have to give you that. At the time you started this thread, I was only expecting a correction, not a full-blown 18 month bear. That being said, I distinctly remember you calling for the death of crypto currencies and BTC sub 1000k. What happened, my dude?