Bitcoin's value will not go down so much bitcoin's price fluctuations have the impact of negative news circulated. When the negative news was released many investors hurriedly sold their bitcoin it reduces the price again the positive news is revealed. Bitcoin is the largest cryptocurrency in the world by market value in the present, the price has dropped drastically, but the price of the sky can reach the price of bitcoin millions of dollars. Investors may be widely attracted to cryptocurrency due to crisis in various banking sectors producers may also be encouraged to increase storing for global supply.
And maybe it's already price-in, that's why when we heard negative news, it's not a big deal for Bitcoin right now.
Investors though are looking at the long term, specially that block halving is just around the corner.
Even if there is a negative news, the market are bouncing back because investors are buying at a rate.
The only thing that I can see that the price going down very hard like last year, is that if we have what we call a black swan event.
Like big exchanges closing it's door, but I doubt that we will see something like FTX collapse this year.
Everything has settled down a bit and just waiting for next year's halving.
There is always negative news in crypto. It will continue to happen from now on. There are many people who sold their Bitcoins as a result of this negative news. Contrary to these people, there are many people who trust Bitcoin and believe that it will reach the price they target, despite the negative news. There will always be these two different people in the market. I think this diversity makes the market beautiful.
The market will continue this way. I don't think there is currently an indicator that can predict the direction of Bitcoin, which has been stuck between certain prices for a long time.