On July 22nd, I mentioned the drop that is taking place now.  This drop is not yet over.

Some people are saying it has recovered because BTC has recovered back above $50k and is trending up, but that's not going to last, because this selloff has triggered the vast majority of commercial trading bots to go into a new mode, and the more-funded, giga-bots that are run by smaller enterprises or single individuals are being reprogrammed to capitalize on "what everyone and every other bot is thinking and planning," so even if it looks like the markets are "recovering" for a day or three, or for a few more hours, they're actually just setting up for the next big plunge in value.

At some point, "big money" that has been waiting for such a drop as this will begin flooding the markets again, to capitalize on the low prices.  We can expect to see some more vocal opponents of Bitcoin and cryptocurrencies suddenly start talking about its wonders and virtues and what a wonderful "store of value" it has become recently, because they are going to see their opportunity to cash in on the drops in values, and then when it goes back up again, like President Trump and Jamie Dimon, they will go from stalwart naysayers to stalwart supporters, because they got rich.