For several weeks now, Bitcoin has been trading in the range of $94,000 - $104,000.

Foundation Devices CEO Zak Herbert says the largest cryptocurrency traditionally goes through the same cycles approximately every four years, depending on the halving. Therefore, further decline should be expected, reports ITC.
"I've been in Bitcoin since 2013. All bull markets follow a similar script: halving, then a pause, then growth, a sharp rise, a crash, and several years of stability before the cycle repeats again," he explained.
Some Bitcoin owners believe that the cryptocurrency can enter a "supercycle" and continue its growth. However, Herbert does not share this optimism.
"I do not believe in this concept. I believe that the situation will develop according to the same patterns that we have observed over the past ten years," Herbert said.
Some analysts, including the head of digital assets at BlackRock, believe that bitcoin could become a 'safe asset' akin to gold during economic instability. However, this theory is doubtful, as the cryptocurrency often moves in the same direction as risky assets. Following the latest inflation data, bitcoin, like stock markets, showed a decline.