Bitcoin currency rates fell to the lowest level in more than two weeks to $ 36,372. Bitcoin prices, during Monday (February 21st), decreased 2.75% to $ 48.145 thousand. Customers suffer losses after a cruel weekend lost the world's largest digital assets at a time when more than five.
This track returned the price of the bitcoin and the investor invested in its futures for what they were in early October, before the huge rise in prices pushing the currency at its highest level at $ 69,000 on 10 November, Reuters.
Exchange Huobi Plans to re-enter US Market
Du John co-founder of Huobi (one of the largest currency bourses in the world) said that Bitcoin prices may not begin at a new bullish curve until late 2024 or 2025 if we read its history.
The reason is due to the emerging Bitcoin market-linked closely with a process called Halving, which occurs every few years, according to the network 'cnbc'.
The term halving refers to what is known for the half-metal bitcoin, a process where Bitcoin mining bonuses are reduced to half.
The coins are encrypted by operating a strong specialized computer to resolve complex sports puzzles to validate transactions on the Bitcoin network, for getting units of encrypted currency as a reward.
halving in crypto is written in the primary code of the Bitcoin currency and decreases almost every four years.
The last time the halving process occurred was in the last half in May 2020, and in 2021. Where the Bitcoin currency exceeded its highest level at all over $ 68,000. The previous time was in mid-2016. The following year, arrived at a record of about $ 20,000 at a time.
After both quasi, the Bitcoin coin fell violently, and currently fell almost 40% from its highest record in November and the following event is expected to be the remedy period in 2024.
"I expect asset management to be a bigger business than an exchange, which echoes the traditional finance market as well," Du said.
"I don’t think the exchange is a necessary element for entering the U.S."
Factors Affecting Acute Volatility in Bitcoin Performance
The acute volatility is due to the performance of Bitcoin to some external and internal factors that affect the encrypted currency market.
The external factors are from the US Federation to cut the stimulus program over the next seven months. This has affected the cost of currencies encrypted for the past two days. Last Friday, he saw the issuance of employment reports in America, resulting in severe fear of investors and pushing them to reduce risk.
The internal factors affecting bitcoin are highly rising for margin purchases, resulting in the fall of prices to $ 50,000 for the unit, with synchronization with the settlement of investors' positions, resulting in acute market landing.
Investment at Bitcoin comes as owe against inflation since the year the Bitcoin price was less than $ 20,000, and the bitcoin price rises when the purchasing value of other investments is less.
However, bitcoin is not considered a commodity or a safe or fixed investment method, because they are experiencing strong fluctuations because its size in the market is not skeptical with other investments such as real estate or gold
There are currencies with uses, and prices rise whenever they are used as an eutherium, and Cardano.
There is part of other currencies that have no clear use in life, including Bitcoin, but they acquire a major weight in the market because they are the oldest Cryptocurrency and millions of investors are investing, and there are companies for mining operations.