Indeed, Bitcoin hasn’t experienced such shocking losses since the COVID-19 pandemic hit in March 2020. However, traders must remember that the significant percentage shift is the primary foundation for the comparison. Bitcoin took a hit that came before expected, but the token’s fundamental value remains unchanged. Bitcoin lost percentage increases, but the cryptocurrency hasn’t pulled out of the game entirely. In March 2020, Bitcoin’s value dipped more than sixty percent and nearly wiped the digital currency off the map.
Bitcoin continued bearish market trends entering the third week in January, signaling a possible decline to less than twenty-four thousand. Bitcoin’s unimpressive performance stimulated growing strength for the US dollar, but the oldest digital currency’s future balances delicately on several influential factors.