I think that bitcoin price is currently less volatile than last year. It means a lot of people are holding bitcoin very still and not gonna sell it no matter what (like myself). So, right now, new investor will only invest slowly into cryptocurrency because they are scare and not sure about the market movement. When it reaches a stage when most people think: "It will plunge again sooner or later?", cryptocurrency price will surpass last year high
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PS: I will hodl Bitcoin until it reaches 35-40k