Bitcoin’s share price has almost halved. So can it recover, or will it continue to slide?

Bitcoin

Bitcoin has seen a tremendous surge in value since September 2020. Source: Getty.

Crypto veterans know this feeling: the price of Bitcoin just almost halved. This has happened several times before. In 2018, 2019 and 2020 for just a few recent examples.

This time the fall is quite spectacular, from more than $80,000 to about $45,000 in just two months (before rebounding slightly to be down about a third). The second-leading cryptocurrency, Ethereum, has suffered a similar retreat. It collapsed from more than $5000 to about $2700 in just a month.

Source: Crikey

The widespread retreat in crypto has many causes, including an FBI sting that saw a Bitcoin ransom seized by authorities. If crypto isn’t safe for criminals, does demand for it collapse?

The normalisation of markets is another reason, with bond yields rising and more traditional assets finally offering decent returns.

A third possible cause is the increasing menagerie of “meme stocks” — Game Stop, AMC and all the rest, distracting young retail investors who might once have seen Bitcoin as the only way to undermine the mainstream financial system.

Can Bitcoin’s share price recover and fulfil its destiny as a mainstream investment? Or will it continue to slide? The crypto veterans will hold on regardless.

This article was first published by Crikey.

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Josh
Josh
1 month ago

I invest in altcoins particularly I have given preference to PUNDIX as it is a good project that is not publicized and almost no one knows the fall of bitcoin has affected you all altcoin has seen it as a “promotion” period that will soon pass PUNDIX is being inserted slowly and soon the rewards will come

steven bobby
steven bobby
1 month ago
Reply to  Josh

all altcoins follow bitcoin.. so that doesn’t make any sense.

rajagopal
rajagopal
1 month ago
Reply to  steven bobby

Perfect Steven.. all coins follow BTC.. this back tracks to think if there is an illuminaty handling all the whims of crypto market

Australia Sucks
Australia Sucks
1 month ago

Another exceedingly poor Australian Article

James
James
1 month ago

Come on bitcoin !

Last edited 1 month ago by James
Utha
Utha
1 month ago

The fact that you refer to the “share price” of Bitcoin in the title proves you know absolutely nothing about it, and shouldn’t be reporting on it.

Sam
Sam
1 month ago

Wow! Your information is incorrect (bad!)!