So it seems Monday was the bottom of the bear market. We should gradually recover, with ups and downs, over the next few months. I'd guess by summer it'll start hitting ATHs again.
So how high will the next bull run (2018-2019) reach? $50k? $100k?
We wil be lucky to reach $20k, which is a more than doubling from where we are now.
The money to push prices to $50k just isn't there. Not to mention bitcoin is losing ground to other coins on merchant adoption.
At this point it's still possible to reach $20,000 this year we still have less than 10 months left before the year ends. Don't lose hope on bitcoin there's still time to recover we just have to be patient. Bitcoin going to $50,000 is indeed too much to ask for this year I think we'll see it after the next halving occurs.
So in the short and medium term, it is impossible to know where is the bottom. In the long run, any day you buy will be buying cheap.
Bitcoin is not cheap in the long run it should be the other way around. People are buying when the price tends to dip down like what's happening this past few weeks.