Hi Everybody, MS aka 
The premier cryptocurrency was in sleep mode for the last 3-4 months before the recent downturn. While those low volatility periods were playing themselves out, it was widely believed that this was consolidation (above 6000 levels) and Eventually, like we always see there will be a bull market by the end of the year. That was a foregone conclusion for most and the markets had literally gone off to sleep. That scenario may very well have played itself out, if not for the BiCH (yes u read that right) hash wars.
What followed was huge amounts of uncertainty and many weak hands losing their resolve and giving up.It hasn't spared even some of the strong hands, most small crypto projects (since they raised money in ETH) and hedge funds as well who started out late last year.
Future Outlook
Now, for the most important question, how low will bitcoin really go. As far as Bitcoin really crashing
by entering a death spiral, that has been refuted by Andreas Antonopoulous. The cost of mining is the lowest in countries like Iceland and Venezuela. The average cost of mining a Bitcoin in these countries is roughly $1800. That's roughly where I believe Bitcoin will find its bottom in the current leg of the downturn.
It might quickly rebound to $6000 in a matter of few months into 2019. However, the market structure of Bitcoin has been violated with a breach below 6000. That may mean Bitcoin will take longer to recover deep into 2019.
2020 should be a bullish trending year and we should climb back to old highs of 20,000 by the end of 2020. 2021 will be the hugely bullish year for digital assets with widespread adoption and prices reaching a quarter of a Million dollars. That might be followed by another crash down to $30,000 - $40,000. And the boom and bust cycle continues.....
