In November, Bitcoin's all time high was $68,000. Bitcoin's 2022 low was around $34,000-$35,000. Since December, Bitcoin's price has been wobbling between $35,000-$50,000. Bitcoin is recovering a bit right now but has not reached its all time high yet. Last month, Bitcoin crossed $40,000 and reached at a peak of $47,000-$48,000 to this day. It still has not rosed above $50,000 yet so there is a small chance that Bitcoin would touch $68,000 in 2023. When an economy experienced a bad recession, it would take like 1-4 years or more to recover from it. Last year in May-July, Bitcoin declined dramatically. Bitcoin lost half of its value and it took at least 3 months to recover from it. It has been at least 4 months since bitcoin was at an all-time high. This decline was longer than the Q2 2021 bitcoin decline. Will it recover in a few months or in a year?
Time will tell. What are your predictions of when will bitcoin recover from this decline?
The price of bitcoin was not increasing now,now the market was stuck.Every year we are finding the price of bitcoin was increasing a bit high.It crossed new value of high at 19k dollars,then it increased to 39k dollars.The same was increased to 40k dollars,many new people get into the crypto after the value of 40k dollars.Last month,the price was reduced the lot below 39k dollars.