After spending some time thinking about Bitcoin, I think that the price will probably correct to 16–18 k USD with an estimated projected time line of Q4 2021 or Q1 2022.
First I will draw some similarities between 2018 Bitcoin Correction to 2021 Bitcoin correction.
December 17th 2017: 19.7k
April 12th 2021: 64.8k
December 17th — 22nd 2017 ( 19.7k to 11.2k)
April 12th — 25th 2021 (64.8k to 47k)
First Recovery (Alt-season / Crypto Total Market Cap Peak)
December 22nd 2017 — January 6th 2018 (11.2k to 17.2k)
April 25th — May 12th 2021 ( 47k to 59.6k)
Jan 6th — 17th 2018 (17.2k to 9.2k)
May 12th — 19th 2021 ( 59.6k to 30k)
Jan 17th — 28th 2021 (9.2k to 12k)
May 12th — June 15th 2021 (30k to 41.3k)
Jan 28th — Feb 6th 2018(12k to 5.9k)
June 15th — 22th 2021 (41.3k to 28.8k)
Feb 6th — 20th 2018(5.9k to 11.8k)
June 22th — July 7 ~ 10th (28.8k to 35k)
Now a few major crashes are left that I can draw some similarlities.
Feb — Apr 2018 Crash, Apr — May 2018 Recovery, May — July 2018 Crash and then finally Nov — Dec 2018 Crash.
Thus using the above crashes as references I believe we will probably have 3 more major crashes and 1 more recovery during the rest of the lasting 6–8 months.
And the below are my target ranges.
I anticipate that the price will probably visit the 25–28k range, which will be similar to Feb — Apr 2018 Crash. Then the price will probably bounce back to around 30–35k, similar to Apr — May 2018 Recovery. It will probably then crash back to 23–27k range, similar to May — July 2018 Crash. Then during the end of the correction, bitcoin will probably crash to my target range of 16–18k.