This is just a speculation, not going into any technical stuff today, just what I think is happening.
At first it may seems as if we have reached a final stop,
and that the market will revolve somewhere near the 500bil range.
But guess what?, this happens every year, the market gets stable for sometime, a month, 3 months, it just kept falling for more than a year once!
And it finally surpassed that mark and went right ahed, to the moon..
Will that happen again?
Probably yes, but the thing is its harder every time that the market cap increases,
Bitcoin cant just double overnight easily, for that it will have to have another ~150bil
What else can affect its value?
Media coverage and news, that one of the reason it went up last year end, a trend if you may.
People got in the hype, took profits and there goes the red sea again!
At this point I guess its better to hold, at least for those who came in at the start of January from where it just came falling down.
In the end it comes down to what you believe in, because no one can guarantee you whats going to happen!
Hope you have a nice day, Upvote if you liked my post