What was happening in the last months is partly bacause of the bad news and partly a normal correction after the buying frenzy in December. Like any other asset (not only crypto, but in general) if you have 5 fold increase in 3 months you can expect 40-80% retrace because of the FUD coming after the FOMO.
Let's look at the eth chart for the last year and we will get a pretty clear picture what is happening and what will happen in near future, unless some pretty nasty news come out. In Jan 2017, eth was about 10-15$, in June it reached 450$, in July back to 150$. Now, everyone thought that this was a too high price that can't hold and so everyone sold. Of course the pundits claimed that the failed ico's are the reason. Anyway, gradually eth climbed back to 300, 400 and 6 months after the previous ATH it reached 1300$. Clearly, 900-1200$ is a sustainable price, although in July it looked like even 200$ is too much!
My point is that now everyone thinks 20k$ is not sustainable for BTC, but the truth is that IT IS! BTC WILL rise and reach new ATH's sooner than most expect. My pessimistic prediction is 30K at the end of 2018 and the optimistic is 50K! But, but, but... what if the bad news continue? Ok, what about 2019, 2020 (the next halvening)? Do you really, I mean REALLY believe that BTC will not return to at least 15K and prefer to sell at 8K?




