Now looking at the general situation of the market reminds me of the time when the market also appeared new trends and was about to launch an airdrop of a leading project.
I think the next few days will be even more exciting, my long term price expectations for BTC I still think $80000 is still low and that won't be the time when I will take profits.
yes, $80k is still relatively low when compared to ATH 2021 which is $64k because in the next bullish phase the bitcoin price should be 2x - 3x from ATH 2021. not selling and taking profits at $80k is the right move because in the next bullish phase the price will go higher than $80k.
Everything takes time to achieve that target. Bitcoin has the potential to go much higher than the $80k target. But it won't happen overnight as the market will take its time to build its foundations. Those who have seen the last bull market will actually understand how the market reacts and how the bull market starts. So I think it will be difficult for Bitcoin to achieve such a big $80k target within this year.
We got surprised and taken by storm by Bitcoin in the past in both directions and nobody should be astonished about it at all. You can't predict prices in the world outside of cryptocurrencies and research has proven that over and over again. Some Monte Carlo simulations or random walks are driven by coincidence, but have one anchor, which is the point from where they start. That is only rational, nothing else.
Predicting Bitcoin prices doesn't make sense the shorter the time-frame gets. It makes more sense if you put some
IFS into your price estimates/wild guesses. If no external event like a crisis of any kind happens, or if the next president is called this name and not that name, and if ... You can't know where Bitcoin is going unless you make it a condition that it is not going to be outpaced by another coin with better foundations/technology that the market deems superior.
The advantage Bitcoin has is the ecosystem and the community, which is part of the ecosystem. Because whatever new you bring to the table, you can't fork or copy the ecosystem or the community. It is there only once. You can fork the code, but nothing else.
Bitcoin is strong because it has a strong supporter base and it is the de facto reserve currency within the crypto space.
Coming up with numbers isn't expedient. I would agree if someone said "I believe that in the long-term Bitcoin's price is going to increase from where we are, don't ask me how much precisely, and I also don't know when and whether we are going to have crashes in between. Most certainly we will have a bit of everything, but a positive trend". Yes, that is a respectable statement that includes all uncertainties and an opinion. Does that make the person an expert? I think no, but I believe in Bitcoin, too, for a multitude of reasons.
The short answer to whether we can reach $80k is "yes, we can!". Can we reach $5k? I don't hope so, but the answer should be "yes, we can!".