The price of the main cryptocurrency dropped to $39,500 on Monday, a level not seen since early December of last year. Following that, there was a rebound, and currently, Bitcoin has returned to the $40,000 mark. Such fluctuations have occurred twice in the last few hours.
This month, immediately after the approval of the Bitcoin ETF, a tool that allows institutional investors to conveniently invest in the leading cryptocurrency, the price surged to $49,000, only to sharply decline afterward.
According to analysts' forecasts, Bitcoin may face an even deeper correction before the upcoming halving scheduled for April this year. Historically, after halving, Bitcoin has always set record-high values.
The concept of the system was introduced in November 2008 by a user or a group of authors under the pseudonym Satoshi Nakamoto. The emission of Bitcoin is naturally limited, and currently, a significant portion of bitcoins has already been mined.