This is the 3rd or 4th time Bitcoin has Shot up to ATHs nearly vertical and then corrected itself. Should not be surprising to anyone at this point.

I have been saying for months that Bitcoin will most likely drop back down to the 20k range. Just look at the chart from 2018!



What do you people expect from this last bull run?

Anything is possible, what makes you believe no new ATH though?

Now this is where we disagree. The Price is relative to the Energy Usage among other things. If the energy to cost ration is not profitable then the price will reflect that.

Elon should also know that Gas-powered vehicles burn less fossil fuels than it cost to charge his Teslas. 

I think you are presuming that this cycle will be essentially similar to the past, as is often the case, and it doesn't have to be. People who make forward-looking predictions based on the charts of the past often forget one little thing:

Reality.

The institutional adoption we are having this cycle has never happened before, and I don't think it's going to stop because of Musk or China. The Bitcoin price does not follow a deterministic pattern that we can calculate based on past price performance. It is the events that are happening that drive the price.

Personally I still believe we will pass $100k at the very least.

This is not new it's been going on for years, and yet people are always in a panic to sell their coin when there is bad news that caused the market to go down, when investing and making a profit from the bull run expect a drop at the least we expect it to happen.

Bitcoin is doing great we all thought that it's going for another milestone and that is reaching the $60k mark, but unfortunately, we have experienced the opposite, in a highly volatile market expect the unexpected anytime.

Without a doubt those investors who recently crashed and got burned will be far more cautious and pass on their tales of loss to new investors. (Otherwise they'll be bound to repeat their past mistakes adinfinitum.)

If they repeat the same mistake then shame on them because they are greedy people who wants to make a lot of money in such a short time in an investment that is volatile. Hopefully, newer investors don't have to suffer the same fate as this old investors. Also, what goes down must come up, this is just a stint in the ever long history of bitcoin.

Just accept it man, Bitcoin is death. From here we go to single digits. It's over. The tulp mania topped out. Ponzi scheme finally imploded. Sell all before it's too late. İf you would have listened to all the threads back in 2013 and sold everything it would have been the best thing you could do. Just exit this scam and hold things with real value like fiat. Bye.

2018 had a rising dollar after a decline for most of 2017, it reversed the bias where as now I've just seen DXY try and fail to start a recovery in its previous losses.   Its not a great supply we have a massive gap and weakness from monetary expansion, its quite deliberate and Bitcoin is not likely to especially devalue in the face of that.
   Alot of bad news and profit taking, I still count it as quite normal and its also normal that people are impatient and expect an immediate return to the highs which will take time for sure maybe the whole year I dont know.

I'm watching lows here to see if we consolidate or break into a lower range especially.   Below 200 day average could be considered negative easily however the direction of the 200 DMA is rising which gives some clue to future positives and I would not count against that even if near-term is continued speculative profit taking and weakness.

Well, most of them expected that there is another ATH will come.
However, the correction went on because of negative news coming at the same time. Just imagine, --let us start with Elon Musk’s nonsense tweet. One of the reasons why bitcoin increased is the influence Elon Musk made. Withdrawing is the initial statement that affects the decisions of the investors he convinced to go in. Second is the news about Binance being under investigation by the SEC and Department of Justice. This would affect the price big time. And lastly, China banning financial institutions from offering cryptocurrency services. Well on this time, this is overkill. We should expect the correction and wait until we recover. That is how we will be playing it.