Khaberni - Bitcoin is currently trading at less than $67,000, after losing more than 47% of its value since last October, bringing the theory of its potential fall to zero back into discussion.
This sharp decline has alarmed investors, raising the level of the question: "Will Bitcoin fall to zero?" according to the analytics firm CryptoQuant.
The French TV station BFM TV mentioned that "this theory recurs with every downturn in the cryptocurrency market, where Bitcoin's detractors seize any drop in price to emphasize that it has no inherent value."
Famous American broadcaster Buck Sexton told CNN: "Every time I ask an enthusiastic Bitcoin supporter to explain why they believe it holds long-term value, I become more convinced that Bitcoin has no real value, and that its lowest price approaches zero."
Despite this, Bitcoin supporters continue to defend and encourage investment in it. For example, Michael Saylor, CEO of the company Strategy, continues to accumulate Bitcoin in his company's treasury, indicating that the price could drop to $8,000 over the next five years before his company faces any real issues.
As of 11 AM French time on Thursday, February 19, Bitcoin is trading at less than $67,000, having fallen by 2% in a single day and lost about 30% of its value in just one month.
Since hitting its peak at $126,000 on October 6th, the price has dropped by 47%.
According to the cryptocurrency fear and greed index, last week investors' sentiment reached a level of 5 out of 200, classified as "extreme fear" and is the lowest since the index was created.
This index measures investor sentiment when making decisions to sell or buy Bitcoin.
The Bitcoin decline coincides with investor tension, following the appointment of Kevin Warsh at the head of the Federal Reserve, which suggests a possibility of tightening liquidity, a negative scenario for risk-heavy assets like cryptocurrencies.
Meanwhile, the spot-traded Bitcoin ETFs have fallen to less than $90 billion in managed assets, returning to levels before Donald Trump's elections.
The specialized site Cryptocast pointed out that this decline represents a staggering 52.35% decrease from the highest level of these funds, recorded on October 8th of last year, and that this severe drop has eliminated all the financial flows achieved since Trump's elections in November 2024.
It is noted that Bitcoin has been in a downward phase since October 10th of last year, following a rapid collapse in the digital market which resulted in a loss of more than $19 billion within just a few hours, raising serious questions about its future.
