After the ATH ;
5 days - "It is a healthy correction, we are still bulls."
16 days - "Going up again, wait 13k re-tested. No, back to 16k." <-- bull trap.
10 days - "It looks like its bear time, 9.5k touched, regression channel visible." <-- bear confirmation.
15 days - "But, what if... --> see we have a small bull --> 9.5k touched!" <-- No sign of bulls.
If you feel like we are still in a bear market, the next 10 days has a high chance of being bloody.
We might see a drop to 7k.
Think of the total Market Cap as the Dow, Bitcoin as the NASDAQ and Ethereum as the S&P 500. Those 3 are the best indicators of the Stock market while Market Cap, Bitcoin and Ethereum are the best indicators of the overall crypto market health.
That said, I'm not saying Bitcoin will be the "best" coin in terms of gains once the market turns around. I think you'll see many alt coins rise to all time highs as well...but the bull market won't start until Bitcoin bottoms out and reverses course.
You really think Bitcoin will just go to 0 just like that and fizzle out? Why am I even wasting my energy responding to this?
Literally every non bias crypto expert I've talked to or researched thinks Bitcoin will explode in 2018. They've called for this current, much needed correction prior to that happening. Now that it's here, they all predict a major breakout once the correction completes.
You clearly are coming to this from an emotional point of view. Bitcoin's scaling issues and fees will be solved. Now, it may or may not be used as a means for everyday transactions. It may end up mostly being a store of wealth...but it's not going anywhere.
If I had to guess, I'd say you were a major BCash supporter and have a vested interest in Bitcoin going away. If that's the case, just say it. But don't come on a forum meant for non bias analysis and start giving me emotional arguments. Do you have any idea the amount of money being invested in Bitcoin and the lightening network? I realize lightning is not the answer to everything, but it's going to SEVERELY reduce transaction time and fees. That said, even if it didn't (which it will), Bitcoin is now a status symbol. It'll always be valuable because of it's history and brand as the coin that started it all.
Now I get your ".com" analogy. That's going to be very true with every other alt coin...but it doesn't apply to Bitcoin. If it did, Bitcoin would have been gone the minute Litecoin and Dash forked off it. Instead, it grew in value. Why? Because people don't invest in Bitcoin because it's the fastest or most advanced coin. Just like people don't invest in priceless antiques or classic cars because they're the most technically advanced. Clearly they aren't...yet somehow they're worth MUCH more than the better functioning, newer cars. Why is that? Bitcoin has become the gold of crypto...like it or not.
So again I'll ask...When it comes to crypto experts (again, not crypto haters or people with a vested interest in Bitcoin failing), every NON-BIAS technical analysts, as well as fundamental analyst, projects Bitcoin to reach all time highs this year. Are they really all wrong?
But hey i guess we see what we want.