it's at 7.8k now ... 8.5k? sure, why not?!? nobody is selling yet ... of course not, why would ya ... as long it goes up, we might as well wait a bit more.
but to think that 6k is now the new support and that it will hold ... no, of course not, the same will happen, but in reverse ... once the selling starts, nobody will buy anymore and it will be an absolute massacre
granted, it might bounce at 4.2k, as in, not 2k, so that then means it's still in a bull market, but it might take months and months for the next parabolic climb ... as it should be
yes, that's what I'm saying, if bitcoin bounces off the 6k levels and starts a new bull run all the way to $200-300k ... than bitcoin has failed; what we have now is not better than fiat or fractional reserve banking ... we didn't solve anything!
we need a prolonged bottom period to flush out all the bad actors first, you know, like 98% of the exchanges