A three-year low was reached in the market when FTX pa'u, wiping away billions in client deposits. As a result of the FTX fiasco, Bitcoin fell to $15,500 and appeared to be headed considerably lower. Bitcoin has since recovered and posted considerable returns and is now hovering near the $23k mark.
However, the market appears to be split; some analysts feel that Bitcoin’s low point was reached in November 2022, while others predict increased volatility and a still-lower low point in the near future.
Source: https://coinpedia.org/bitcoin/bitcoin-btc-price-to-surge-8x-if-this-scenario-plays-out-heres-how-and-when/