The recent drop in $BTC , although worrying, was already expected by many analysts after the halving in April 2024. Normally, the halving cuts miners' rewards in half and affects the price. But this time, Bitcoin fell by around 12%. This drop happened for several reasons, such as anticipation of the event and investors taking profits. Furthermore, the rally that came before the halving also helped with the current correction. Analysts at JPMorgan predicted that the price of Bitcoin could fall to around $42,000 after the halving. Despite the volatility, Bitcoin's future still looks promising.
The cryptocurrency has shown an upward trend over the years, with ups and downs. Some analysts think it could reach $102,000 by the end of 2025 and as high as $142,000 by 2029. Bitcoin is increasingly being adopted and recognized as a store of value. The blockchain technology that underpins Bitcoin continues to improve, increasing the security and efficiency of transactions. Furthermore, the approval of Bitcoin ETFs and institutional interest have helped the cryptocurrency's acceptance in the financial market.
In short, Bitcoin's recent drop is part of a natural market cycle. In the long term, Bitcoin continues to evolve and consolidate itself as an important asset class, with the potential to play a significant role in the future of global finance.