Bitcoin price has dropped below $20k from the recent high of $25k in mid February. Personally I have no problem with this fluctuation because compared to altcoins and taking the bear market into consideration, Bitcoin is still reliable and the volatility is pretty reasonable. For new potential investors, is this still a good time to invest in Bitcoin ? What do you think of the recent drop of Bitcoin price ? Please share your views.
The fluctuation of Bitcoin price is a complex phenomenon that can be influenced by various factors, such as market demand, supply, geopolitical events, and technological developments. Some experts interpret the fluctuation of Bitcoin price as a natural aspect of any asset market, where buyers and sellers are constantly adjusting their positions based on their perceptions of the market conditions.
Others see Bitcoin's price fluctuations as a reflection of its relatively new and untested status as a decentralized digital asset that operates outside of traditional financial systems. These experts argue that the volatility of Bitcoin price is a result of its lack of intrinsic value and the uncertainty surrounding its long-term viability as a store of value.
Overall, the interpretation of Bitcoin price fluctuations varies among experts and depends on their perspectives and beliefs about the underlying factors that drive the cryptocurrency market.