The deep retracement in the recent coinciding with the corona virus has been much deeper than expected. It has rebounded a healthy amount but in an ugly fashion and corrective in style. This is having a lot of people calling for a fresh low from the last year lows around $3400, but I still believe that was the bottom and going along with my idea that the broader US market has bottomed as well gives me more confidence in the bull case. I still believe that once the markets start to recover and people start investing their cash into the broader markets as the virus starts to weaken, we should see a mini bull run with the halving only a month away. I say mini since we probably won't be breaking any highs but most likely be capped below the last high around 14k, most likely around 10~12k if that. We should see some sell off around and after the halving and some low volatility correction in a range after the halving until we get some fresh money in the 2nd half of the year. I expect us to break the last high from last year and try to test the ATH and most likely fail. I believe we are in a huge accumulation period in between 3.5k~20k, which is a huge range but a range nonetheless until the next hyperbolic bull cycle that will take us much higher from the ATH. My guess is that some sort of debt crisis and hyper inflation around the world due to constant printing of money by the biggest countries in the world (mainly USA), which will drive the demand for any commodity for store of value.