It is correct that the market right now is looking way more bearish than bullish and that a reduction to 20k seems more likely than a pump to 40k but the current conditions are not going to last forever and I expect that at the end of the year the bullish conditions will comeback in a way similar to what we saw in 2017, obviously this is not a sure thing but to me the probabilities of a bull market at the end of the year seem to be high to me.
We are finally under 30k and interestingly enough I do feel the same way about reaching 40k before we reach 20k as well. The price dropped under 30k for the first time and the first thing it did was rebounding higher, which shows that there are still MANY people who believe that bitcoin is cheap when it is under 30k so it is really resisting towards not going any further down, that is a very good thing.
It doesn't mean that we will go towards 40k right away, but at least it means that we are not going to see 20k happen that easily, it is going to be a very tough situation for sure. At the end of the day we are going to live a bit more around these prices, and that is going to be tough because not moving up or down usually causes people to stress over which direction it will go, and a whole community being stressed over what the price will be is never good.