What does your speculation say? What will be Bitcoin's bottom out value?
Will it be at $3000 - $4000 or It will go to the Moon!!
Its hard to say it will come to $3000 as at this point mining will be a huge loss. So miners wont be willing to sell below it, this will only drive the price higher.
The only reason it happened was because of the Bitcoin cash war. Both the sides hold a quite large amount of BTC. They sold it to buy hashpower so that they can become the winner in this mad race. Bitcoin cash is the real junk of Bitcoin.
So the only possibility left is up as more and more stores, shops, cities and countries have started accepting crypto. But I doubt we will see those insane rise in valuation like 2017. It will be slow and steady.
