Bitcoin has been doing well lately, but most people are only talking about the upside . I’m just thinking about the other side. What could go wrong from here?
For me, a worst case would be losing important support and seeing a bigger drop again, maybe if macro conditions get worse. I’m not saying it will happen, just trying to look at both sides.
What do you think is a realistic downside from here?
Well, honestly, I am not a pro in this, but what I think is that if the bitcoin price falls from and moves towards its bear lower, then I think it can be somewhere near 50K, and I don't think it can fall more further from this price zone. Now, you may wonder why I am saying this, because in this bull run we have huge adoption of bitcoin from many institutions, companies, organizations around different edges of the globe. Other than this, Bitcoin has also achieved the achievement of being added to some countries' national strategic reserves.
And for now, we have a big example of this in the US, which has a great influence all over the world because of this major move in myh point of view. And this becomes the reason many other countries are also condering to add it in their national strategic reserve. DYOR! This is my point of view, you guys may have different point of view on this.