Our next benchmark will be more than stated price, and on recent price outbreaks we already surpassed $45k - $46k.
If we think of more potential value, I guess we will be going upward and seeing $50k this coming week is really possible.
As the trend goes controversial, people's desire was really heating up to take their gains that's why slight downturn also happened.
This week the performance of Bitcoin has been extraordinary, just imagine Bitcoin convincingly now at a price of $ 47k. This is a very good increase,
it is possible that next week Bitcoin is very likely to rise above the price of $50k. If this is true, it will provoke FOMO and finally we can return to
the ATH price of $60k again. So don't be in a hurry to take profit now, except for people who do day trading, the volatile Bitcoin price can be used
to generate profits.
Yeah, but the OP's benchmark seems to be a very hard to crack at this point, $48,000.
So that's likely the next target, I think FOMO will sets in once we reach $50,000 as this is a big psychological barrier, a usual whole numbers that when we reach, speculators, traders and investors will likely jump again and then wait for a $60,000 or at least a new all time high. Of course, we don't need to hurry, but it's good to take profit some time specially if you needed cash, IMHO.
You are absolutely right that it is not easy for Bitcoin to reach the price of $48k, even now the price of Bitcoin is back down to the price of $46k.
Good news is needed to trigger the Bitcoin price to rise again, hopefully in the near future there will be good news related to Bitcoin.
At least Bitcoin can reach the price of $48k first and finally can continue to rise to the next target.
Psychologically I agree if Bitcoin manages to hit $50k,
this can trigger FOMO and eventually the Bitcoin price can return to the ATH price. It takes patience investing in Bitcoin,
otherwise we could be stressed by the volatile and difficult to predict Bitcoin price.