Bitcoin’s value remains stagnant around $67,000 after its worst-ever start to a year. A 24% drop in the first 50 days has sparked debates about its potential collapse. Some critics believe it could plummet to zero dollars due to its untethered nature and lack of a clear purpose.
Others argue that Bitcoin’s fundamentals remain unchanged, despite macroeconomic uncertainty and policy issues. They point out that its value became detached from gold, which may be an identity crisis undermining its role as a “digital gold” safe haven.
Despite the pessimistic views, some experts, like Michael Saylor, believe that spring is coming for Bitcoin, and it will eventually recover to new heights. Others predict a long-term decline to $50,000 or even zero value. However, Bitcoin has shown resilience in the past, making a recovery possible.
The debate surrounding Bitcoin’s potential collapse continues, with some questioning its role as an asset and others expecting a bounce-back.
Source: https://futurism.com/future-society/concern-bitcoin-value-destroyed