I mean it's not going back up to $60k. The bubble is over, but it's only the start of a longer bear market, so yeah, it can go much lower.
This is definitely a proving ground and only those mining operations with the most resilient strategies will survive.
Many will continue to thrive.
The future outlook on the crypto markets enters a new era towards the end of this year.
Fidelity is introducing cryptocurrency investment services to all of its 401K investors, every company 401k, across the $2.4 trillion in 401(k) assets they represent (in 2020, or more than a third of the market at the time).
They will allow individuals to allocate up to 20% of their portfolio to cryptocurrency, for those who participate.
It most likely won't hit $60k this year, but there is a new bubble like clockwork every 4 years. And like I said, another bubble could be kicked off earlier when the ethereum emission drops 90%. That could drag bitcoin up a bit and trigger an early start to the next bubble.
Oh man. I'll have fun poking you next year about how embarrassingly wrong you were.
As for timelines - that's anybody's guess.
Which were ultimately based on what exactly? See, TA in this space is the demarcation of those who know exactly nothing, but feel the need to contribute their misinformed opinion: short of being a whale who can make the market move (Bearwhale) I doubt you really have anything of substance to base your opinion.
And even then it's literally impossible to call a high, I've been in this for over 10 years and the 'price discovery' mechanism is really just not there. And most of the innovative stuff happens during times when the price is low.
Consider two things: Mining/Hashing power is at ATH, and we just 2x the amount of nations who have adopted its a national currency--with more expressing interest and are meeting with the President of El Salvador as we speak.
And yet we are sub 30k... again, I think no one knows anything about what the price will do, but that doesn't stop people for relying on conjecture to explain x, y, z event in this space.
Tether was a joke, and Luna was a scam... what this has to do with BTC is entirely lost on anyone with any semblance of knowledge: they dumped BTC, sure, but that is like conflating what Pellaton's stock price drop means for Apple's long term viability.
What are the fundamentals?
I know you don't have any such thing, just a "hunch" that you believe is authoritative.