In November, Bitcoin's all time high was $68,000. Bitcoin's 2022 low was around $34,000-$35,000. Since December, Bitcoin's price has been wobbling between $35,000-$50,000. Bitcoin is recovering a bit right now but has not reached its all time high yet. Last month, Bitcoin crossed $40,000 and reached at a peak of $47,000-$48,000 to this day. It still has not rosed above $50,000 yet so there is a small chance that Bitcoin would touch $68,000 in 2023. When an economy experienced a bad recession, it would take like 1-4 years or more to recover from it. Last year in May-July, Bitcoin declined dramatically. Bitcoin lost half of its value and it took at least 3 months to recover from it. It has been at least 4 months since bitcoin was at an all-time high. This decline was longer than the Q2 2021 bitcoin decline. Will it recover in a few months or in a year?
Time will tell. What are your predictions of when will bitcoin recover from this decline?
no specification but one thing is surely to come and that is when the next halving happened mate and that will be coming in the next 4 years .though we have in the first year meaning it will come on 2025?
From my point of view, we need someone huge to announce Bitcoin acceptance, like some from top European countries. Or wealthiest company like Apple, Amazon, Microsoft or Alibaba Group would buy a large amount of Bitcoins. Or worlds wealthiest persons like Bezos, Brin, Gates or Buffett would announce they make large investment in Bitcoin. I think that might trigger price to go up. We need a strong price push to provoke huge growth. Without it, with natural price growth, it will take a lot of time or unknown amount of time to reach new ATH.
it is not only the announcement but we can see that pump when the Big companies announced their acceptance and adoption of bitcoin.