The last few months have been an oasis of calm for Bitcoin, but this week, volatility is once again in style. With a drop of more than 11%, Bitcoin had its worst week since the collapse of FTX in November of last year. A drop that has cast many doubts about the future of the cryptocurrency before the transcendent ‘halving’ arrives.

Don’t break the barrier. Doubts about the Bitcoin price are quite large. It is currently trading at over $25,000, but experts no longer assure that this hurdle will not be crossed. If it does, there are already those pointing out that this could lead to a sustained drop to $20,000. A very low level not seen since 2017.

The calm is over (although the storm has not yet come). As always, this sudden drop could be final, and Bitcoin could rise again until it approaches $30,000. What is clear is that the stability that Bitcoin has enjoyed since the end of March has disappeared and we are once again entering a period of greater volatility. Something more common in cryptocurrency history.

He didn’t like Elon Musk’s move. Investors did not welcome Elon Musk and SpaceX’s decision to leave the roughly $373 million bitcoin package.

Musk, through Tesla and his companies, was one of the biggest public supporters of Bitcoin. But its relevance has waned this year due to a fact that isn’t strictly linked to Bitcoin.

While the odds are so high, Bitcoin isn’t all that interesting. There is currently a lack of liquidity in the Bitcoin market. Many investors and exchanges have reduced their holdings, causing the price to drop.

The global economic situation can help to understand why many investors choose to invest their resources in other securities. With interest rates this high, it’s traditionally possible to get huge returns with more stable products than Bitcoin.

In 2024, the landscape will change drastically. Despite the sudden drop in these weeks, Bitcoin is experiencing relatively quiet moments. There are regulatory challenges, the role of exchanges, and market liquidity. There are many factors that can affect the price of the cryptocurrency, but the ‘halving’ will happen next year.

In 2024, the value of each Bitcoin block will be split in half. This is an event unique to cryptocurrency itself and has historically marked the evolution of prices. There will be no exception. Although it is not at all clear that Bitcoin is strong enough to skyrocket again this time as in previous events.

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