The quick correction was expected and what can we expect after that?
It all depends on whether bitcoin can solve it's scaling problems. If it can, the sky is the limit. In the meanwhile, it functions as an asset class that is not correlated to other assets and thus very attractive to hedge funds whose deepest fear is all their assets falling at the same time.
I forgot about the scaling problems but I have trust and believed on the core devs that they will resolved it and for the meanwhile we can use Segwit for this issue. And that's the reality that bitcoin is used as an asset, a digital asset to be exact that makes everyone to hold.
I'm very confident that the price of bitcoin will keep increasing and 40,00usd is just small maybe higher than todays price.
I like the thing you said for being "very confident" that it will be at $40,000.
Blockchain is much faster than the internet now and we could see a massive adoption.. Millennials will help to change the revolution of tech era.
Sadly it's always experiencing congestion because of millions of users are transacting every second.