The virtual currency. Bitcoin's value is now at its lowest point since July 2021 and more than 50% below its record high from late last year.
The largest crypto Bitcoin is down nearly 20% in the past week and has fallen below $31,000 for the first time since July 2021.
Bitcoin Price has become now less than half its all-time high of $68,990 reached in November 2021.
The virtual currency is down 10.2% over the past 24 hours after trading at around $36,000 on Friday.
Investors may face a challenging and dynamic monetary policy environment and continue to avoid volatile cryptos in order to invest in safer areas, such as blue-chip stocks.
Analysts predict a decline to $28,000 for Bitcoin by the end of the year. It remains to be seen what comes next for BTC.
It is best to prepare for more volatility because the entire market is falling steeply with popular cryptocurrencies such as Ether and Bitcoin due to macro global events putting pressure on financial markets.
The recent weakness across the market has led many crypto traders to turn over with a sudden quick movement(bearish).