I constantly see people keep asking when we will recover back to the $20,000 level, but they fail to understand that it was a hype based peak; there is simply nothing to recover from.
If we do happen reach the $10,000 level somewhere in the coming days/weeks, it should be seen as a new all time high based on a more moderate form of demand, which holds way more value than the empty $20,000 peak of last year. It should result in a more sustainable form of growth that we can build on, but I'm not yet confident that the next base bottom will top the $10,000 level. My best guess would be between $7000-$9000, short term speaking.
Previous bottoms Bitstamp;
November 2017, $5550
February 2018, $5920
April 2018 (likely base bottom), $6427
What this shows is that regardless of the explosive growth we experienced last year, the bottoms indicated a stable growth, which is something not many people look at.
if $20k was hype-based/sentiment (which it was), what is $10k based on? Bitcoin is completely speculative at this point.