The decline is attributed to investors shifting to new cryptocurrencies.

Jafar224

According to the Wise Finance APP, Anthony Scaramucci, the founder and managing partner of the hedge fund SkyBridge, stated in an interview on Monday that driven by the demand for newly listed ETFs and the Bitcoin halving event in April, the price of Bitcoin may surpass $170,000 next year.

Scaramucci stated, "If the price of Bitcoin during the halving was $45,000, then by the mid to late 2025, it will reach $170,000." The halving is a technical event that reduces the speed at which new bitcoins enter circulation.

Before the World Economic Forum annual meeting, Scaramucci mentioned, Regardless of the price on the day of the halving in April, multiply it by four, and it will reach this price within the next 18 months.

Isha000

There are constantly emerging new cryptocurrencies as well.

Kapil334

There is a reason behind this decline as well.