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RE: How long will it take for Bitcoin to reach $20,000 again?
Any answer to this is going to be sheer speculation. However, looking at past market trends BTC has dipped every year in Q1 for the last five years only to increase in price throughout the year.
Following this trend it’s entirely possible BTC could keep following the same and skyrocket again.
The market is littered with inexperienced investors who are going to spook easily and sell at the first sign of a dip. I believe with time some of these investors will become seasoned and stabilize the market.
It is funny how one correctly ignores historical trends only for history to repeat itself.
All of life follows cycles so why shouldn't investments? The only proviso is that Bitcoin itself could be considered unnatural (not by me), and even if it was the investment psychology, especially of all these newbies, should follow a cyclical pattern comparable to the moon, breathing, and Mah Jong
Unfortunately human decisions are not as predictable as the movement of celestial bodies. Trends usually emerge but those trends also eventually break at some unpredictable point.
Bitcoin is an example of the trend of fiat currency monopoly breaking. Before Bitcoin, a decentralized currency was just an idea, a generally unrealistic idea.