Dramatic drop: bitcoin lost $10,000 in value – what happened on the crypto market

January 23, 2024SUNDRIES1 min read10,100 views

Yesterday, the price of the main cryptocurrency fell to $39,500, which has not been the case since the first days of December last year. Then there was a rebound, as a result of which bitcoin has now returned to the $40,000 mark, and such fluctuations have occurred twice in the last few hours.

Dramatic drop: bitcoin lost $10,000 in value – what happened on the crypto market

This month, immediately after the approval of the bitcoin ETF, a tool that will allow institutional investors to conveniently invest in the main cryptocurrency, the rate soared to $49,000 and then plummeted.

According to analysts, bitcoin may face an even deeper correction before the halving, which is scheduled for April this year. Historically, after halving, bitcoin has always set records for its value.

The idea of the system was presented in November 2008 by a user or group of authors under the pseudonym Satoshi Nakamoto. Bitcoin issuance is naturally limited, and most bitcoins have already been mined.

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