The price of the cryptocurrency Bitcoin fell sharply during trading on Friday, experiencing one of the most intense downturns since the beginning of this year.
Bitcoin dropped from its all-time high of $126,000, recorded last October, to trade this morning at less than $84,000.
This sharp decline came amid investors' aversion to high-risk assets and a decrease in the likelihood of the U.S. Federal Reserve cutting interest rates next month.
Investors are wondering whether what Bitcoin is experiencing right now is a correction wave after the record rise it recorded last month, or if it is indeed facing a crisis.
It is noted that the most famous digital currency in the world and the largest by market capitalization has suffered extensive losses and faced strong downturns over the past years, having lost more than 70% of its value at one point, but it is rising again.
But the strange thing this time is the reluctance of major investors, the 'Bitcoin whales', to buy during the downturn, which is an unusual phenomenon in the crypto market.
Some believe that Bitcoin may continue to collapse during the remaining months of this year, reaching below $80,000, as strong selling pressures persist.
Expectations had indicated that Bitcoin would rise to an unprecedented record level, exceeding $150,000 by the end of this year, supported by U.S. policies favoring the crypto sector.