I remember those days like it was only yesterday. I'm surprised it's been a year. I think it's normal to drop. The value of bitcoin could not be expected to increase continuously. After each value increase, there will be a decrease. But such a drop came as a surprise, since everyone thought that bitcoin would reach the value of 100,000 dollars. The value of bitcoin will remain at the 20,000 dollars levels for a while longer. I don't think there will be a rise for at least another year.
We all know Bitcoin wasn't going to go up forever. What goes up, has to come down sooner or later. While I'm confident prices will rise back up again, it's going to take some time before we're able to see any positive results. Maybe 2024 will lead BTC towards $64k and above? That is if the Russia-Ukraine crisis is over by the time Bitcoin's block reward is cut in half. If the pandemic and the war persist, don't expect Bitcoin to reach a new All-time-high in price anytime soon.
At least, the Blockchain is alive and healthy as ever. Surprisingly, BTC's network hashrate has increased over the past months. This shows us there's still interest in helping support the Blockchain despite rising energy costs worldwide. Market prices have been steady between the $18k - $20k range these days, so I'd suggest anyone to buy more BTC before it's too late. Just my thoughts
