After hitting a new all-time high just over $34,000 on Sunday, the price of Bitcoin sunk to approximately $30,900 at press time, a decline of nearly 10.6 percent. While some analysts are saying that markets will shrug it off, others seem to believe that the end of the current Bitcoin rally is nigh (or indeed, that it is already here.)
“Welp. That’s a wrap. See you all in 4 years!”, wrote crypto analyst, Joseph Young on Twitter after lamenting that “people will start blaming Asia again for this dip.”
Oh no, people will start blaming Asia again for this dip
— Joseph Young (@iamjosephyoung) January 4, 2021
However, a downturn in the price of Bitcoin could give some hopeful investors the opportunity to jump into BTC at a lower price.