Even though the current price looks difficult to increase but I'm optimistic that in 2023 the price can reach at least $ 40k, we'll see if this week it can reach another $ 30k then it's likely that $ 40k will occur in June, then decrease again, and this is a great motivation good for us to keep buying.
I also believe bitcoin can hit $40k this year, that's not too hard for bitcoin. But I'm more interested in when bitcoin hits $40k, will it keep going up until the halving happens, or will it correct deeper and maybe go back to $20k? When I looked at the 2018 cycle chart, bitcoin also had a period of recovery after bottoming out at 3k, but then it also dropped back down to 5k before the halving. If history repeats itself, chances are we still have another significant decline.
Yes, it's not hard and doable for us to reach $40,000 this year. We still have at least 6 months to do that. Just look at what had happen in the last 6 months, from the bottom of $15,500 and we have reach $30,000 or even higher.
But it's going to be tough $14,000 increased till the end of the year. The growth seems to slow down this month of May, as there are issues like the high tx fees that is congesting the network. And then we don't have any good news that will make the market alive again. We need something to talk about to trigger that FOMO in all of us to re-invest and other investors too coming in our market to push it significantly higher till December.