There's probably a motion to bitcoin's price together with the entire crypto market. Every announcement that's related to the rates set by the FED, there's an equal reaction to most markets and that's not just only limited to the bitcoin/crypto market. I am in that impression and wanting to believe that if good things come before and after this year ends, we've already seen the bottom and it's not going to be lower than that. But at the same time, this is the crypto market you expect the unexpected.
The current market conditions are chaotic, there are a lot of trust issues, FUD is all over the place, and the lack of support from big investors makes it hard for prices to go up. People tend to stick around and not invest right away even when they realize that $16K or $17K is still low. The bottom may still be reached for the rest of the year, but I don't really expect it.
After the price can return to $ 17K, we deserve to be optimistic that the market will immediately rise, it might not skyrocket like 2021, but if the price can reach at least $ 20K at the end of the year, it becomes a good start to see a higher price in 2023. The number of FUDS is very disturbing and panic so that there is a pressure, hopefully the FTX case can end soon and there will be no other Exchanges cases.