Also a lot of new money has been scorched which will have the effect of slowing down crypto more than our usual corrections, not to mention the negative media surrounding Crypto and people who literally bought the top and with shaky hands sold the bottom.... All of which are the results of a whopping from $20k down to 10k (or below). But the market was red hot and practically vertical. That's also why I think this consolidation will take a lot longer than previous waves - hence my prediction for it to continue for another 2 weeks in an ABCDE correction wave.
The extended consolidation we're currently in was inevitable after such a huge bull run which personally I think was whale manipulation in the lead up to CBOE & opening up with the aim to push BTCUSD as high as they could pre launch of contracts and then have a 50% retracement/dump for maximum profits.
The next contracts will close towards end of Feb - so my anticipation is for it to almost double from the last close which is my touch point on the impulse wave - however to get there the last correction still needs 2 more weeks of consolidation and stability before it can reach for $20k again.
I can see a forming at $20k for the end of wave 1 on the new impulse wave with a small correction wave (2) before new ATH's with an extended long wave 3.
My price prediction for BTC is $37k in April.
Buy the FEAR, sell the FOMO. Good luck!