Bitcoin prices can hit up to $ 50K. But not anytime soon. Maybe after we cross the bear market and the price will bounce back up. and will likely exceed 50K. I don't know when that happened. But for sure Bitcoin will continue to increase in value as time goes by and more and more large companies are adopting bitcoin.
Despite the relatively large correction, the formal bear market has not yet started. Consolidation may well take place now and growth may continue after a while. To speak of a bear market, we must be in a downward phase for much more than a couple of weeks.
We are not in the bear market yet, and I agree that we are still in the period of consolidation up to the end of the month. I'm not expecting any sudden upward trend, just the usual trading sideways again. We have seen this in the past, just recently this is the bitcoin prior to the super fast rally leading up to $41k.
Is that pattern repeats itself in February, $41k can be surpassed again and set a new all time high at $50k. So it is still doable, but it's going to start next month.
I think the current price is still quite holding up at $31k in the last few days so it can't be said that a bear market sometimes a little bit more will happen.
For me this is an ordinary formal thing where traders start to panic a little and this can also be due to the influence of it, right now the trend is still happening but the bear market will not enter in the near future I only pay attention to the current decline not as severe as expected bear market continuously.
We still have hope in February if we can get through this challenge then bitcoin will still be over $50k maybe it will be easier.