There is little investment more unpredictable than bitcoin., perhaps in addition to other developing cryptocurrencies, which can as easily climb as an avalanche or end in extinction. It is therefore more than understandable that they continue to be watched with considerable mistrust by both potential investors and regulators and the rest of the financial sector, who may one day take a step towards “normalizing” them, who the next day create frameworks for potentially dire regulation.

In addition, bitcoin is fortunately or unfortunately a great reference in this market. Recall that this was the first cryptocurrency to become popular, which also gives it a relatively exclusive status and also causes it to be still in the spotlight. The cryptocurrency revolution would not have existed without bitcoin, and its disproportionate growth over the years has made it particularly sensitive to a number of events that hardly affect other “cryptocurrencies.”

We could already see this clearly last year, with the effects of the measures taken by Tesla in relation to bitcoin. Elon Musk made it clear to us, although we do not know if it was his intention to conspire to manipulate the price of bitcoin. And there is something we cannot forget: nothing but the belief in the cryptocurrency alone will retain its value today. We are talking about purely speculative value, and therefore it is much more fragile than other investments that are based on something other than futures.

So why is there talk of bitcoin and $ 40,000 in recent days? Well, because, as we can read in Business Insider, this is key support for bitcoin and in the event of a break, its value could be devalued much more. In other words, analysts believe that if the price of bitcoin falls steadily below $ 40,000 (not in time, like yesterday and recovers quickly), its value could depreciate by as much as 33%, bringing it closer to what is considered its secondary level, $ 27,000.

That, The big question for investors is whether the cryptocurrency will be able to remain above this value, because in this case there would be some margin for its price to grow well in the medium term. However, if it breaks its current lower limit, the aforementioned $ 40,000 and the decline predicted by some analysts would jeopardize not only its present but also its future in the short, medium and even long term. Something that would in turn nurture a more negative view, which could lead to a rather dangerous vicious circle for bitcoins and may be reflected for other cryptocurrencies.