Bitcoin will go back up again and exceed its previous high of $19k, don't sell out now.
Its certainly possible. Bitcoin could go to 100K, or even 1m, or it could go to zero. And that's the problem (and what makes it truly "speculative"). It cannot be valued (unlike assets that produce a yield). The same applies to gold.
I made money on BTC by assessing where we were on the hype cycle, and taking a punt that there would be more money flowing in, rather than out, after the time I invested. I was right, and then, when I concluded the opposite I sold.
If you look at heard mentality, one could certainly make the case that much of the "hot air" has gone out and BTC seems settled in $6K range. So, on that basis, in terms of sentiment, it would not be a bad time to buy, although ideally you would want to buy in when the media become full of stories of people who have lost fortunes, crypto mining companies gone bust etc. We may get to that sentiment in a year or so (or we may not).
What will be very interesting to see is whether after all the various alt-coin bullshit, money capitulated back into BTC in terms of market share, and the investor community collectively agrees on a true single coin as a store of value and exchange. Also, how BTC reacts in terms of any posible upcoming currency crisis, bank printing, or greater Government control over people's bank accounts and taxes etc.
For the record, I have not re-bought yet.
