I don't think it will be that low ($5k), even though in 2023 there will be a price drop again I'm sure the bitcoin price won't be far from the current price (it won't touch $10k). I believe 2024 will be the year of the next phase of the bull market, in other words in 2023 the price will gradually recover as many investors start buying crypto in preparation for the 2024 bull market.
How can you see the data of investors who started buying crypto in preparation for the 2024 bull market? Because I haven't seen this in the market right now. And if it does happen, I will wait gradually to see an increase in the price of all cryptos or at least the cryptos that are often bought by many people this year. Because people like big investors love different cryptos even though they won't see a new crypto that ranks so far from the top ten.
It's a gradual process though, perhaps some of them have bought a lot during the lower lows of around $15,500. Currently we are trying to break that $17k barriers at the start of the year so maybe the data is still fairly young at this point.
Nevertheless smart investors could have bought or doing DCA that's why we haven't seen the effects.
And next is the FOMO, those who doesn't want to buy right now, but immediately jump on the bandwagon when we are about to go a bull run. So that is the two sets of investors right now and go figure who will be the winner at the end.