Criticism of cryptocurrency was pouring out, and even a bold prediction came out amid the continued sluggish bitcoin.
The U.S. dollar has been strong in the last few days, which could play a part in Bitcoin’s decline.
Bitcoin fell into a bear market until this week and fell to the $53,400 level on the 23rd.
One of the factors behind the recent decline in cryptocurrency prices may be the U.S. dollar, which is gaining strength against other major world currencies.
The decline also brought BTC into friction with tech stocks, including Amazon, Microsoft, and Tesla, all of which were good at intraday trading.
Experts who have been analyzing cryptocurrency for a long time have argued that Bitcoin’s current pattern is no different from what it showed after its half-life in the past. They argue that it is very healthy to follow and correct things in the past, and that supply levels as needed can be established.
After all, no asset can continue to direct bull market.
Bitcoin criticism accumulates
On the fundamental side, BTC has been hit by numerous criticisms in recent days.
Bank of America warns that the energy consumed to mine digital currency is greater than the energy American Airlines typically uses in a year.
Meanwhile, Jerome Powell, chairman of the Federal Reserve Board (FRB), warned that Bitcoin is highly volatile and unsuitable for use like cash.
And in Norway, which is famous as one of the world’s most cashless countries, the governor of the central bank showed a cynical stance on cryptocurrencies, saying to Bloomberg that BTC is “too resource intensive and expensive” to rely on BTC as an alternative.
Meanwhile, cryptocurrency entrepreneur Bobby Lee tells CNBC that BTC could soar to $300,000 in the current cycle, but after that, BTC will drop to 80% and 90%, just like the cryptocurrency winter that lasted for several years. He added that it could be.