If we go by historic data and if we assume that we'll get a 80% retracement from the top and taking into account that the last cycles high tends to be the next cycles low then we'd assume that Bitcoins low should be around 55-65k after the bull run. But a lot is changing with the SoV Saylor talk and with legacy finance's desire to turn Bitcoin into a commodity traded as a paper asset.
So lower if traded as paper ?
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Only time will tell.
I think likely we come back to 60 again unless something very significant changes
power play (supply vs demand) is happening right now! We should have an answer within the next 6-8h.
