Let us begin and say that we were not supposed to reach those high that we did at the end of 2017. It was a nice bonus indeed but was mainly based on the news regarding the futures trading incoming.
Since 2012, we are clearly moving in the uptrend (represented by the white line in the picture).
The fall of 2014 is a justified correction - since we were out of trend, much more noticeably than now. This is why the recovery took as long as 2 years.
But for this day and time, the price of 6-7k is justified.
The comparison to NASDAQ is completely unjustified, the NASDAQ bubble has never busted since the 2000’s, it just returned to its trend line. And by the way, NASDAQ is on the verge of a correction which is going to be epic.
But do not get caught out of the guard, this is by far not the end of the global corrections that are coming.
Mark it, take a screenshot and print it.