BTC VIVA

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It seems that while Bitcoin is losing dozens of hundreds of dollars and the markets are facing a massive liquidation, the same food is turning: the world’s leading highest-valued cryptocurrency may not just fall, but collapse to a symbolic level $1? Over the 17 years since its inception, Bitcoin has repeatedly experienced declines of over 70%, 80% and even 93%, going through repeated cycles, stock exchange crashes and regulatory attacks - and still losing it from the game. Increasingly, with the deterioration of the future, there will be more investment in traditional finance through institutional investors, funds and public companies. So, in reality, the nutrition sounds much different: what is it that is driving Bitcoin away from zero - and what set of actions can really destroy the price in the area of ​​​​a few dollars and below?
Wedge cycles: how Bitcoin has survived a decline before
If you look at history, Bitcoin has already passed through what would become the end for most assets more than once. After the great skin cycle, one scenario was repeated: the price goes down sharply, the market panics, it goes bankrupt, headlines appear about failure and residual damage. This can be clearly seen in the great intermediate phases, when Bitcoin goes from peak to bottom, having lost 80-90% or more. The key episodes of the past looked like this:

2011: from ~$32 to ~$2 (-93%)
2013−2015: from ~$1,163 to ~$150-$170 (approx. -85%)
2017−2018: from ~$19,800 to ~$3,200 (-84%)
2021−2022: from ~$69,000 to ~$15,500 (close to -77%)
Before guessing them, it is important to separate two speeches: the validity of BTC and the very existence of Bitcoin itself. During the period the markets lost liquidity and trust, the system itself did not require any adjustment or restart - it worked. And what is the difference between Bitcoin and most traditional assets. In traditional finance, a sharp drop in prices often leads to bankruptcy of the issuer and one part of the entire system. In Bitcoin, deep crashes do not stop the flow: blocks continue to be added, transactions are confirmed. As a result of falling prices, some of the miners begin to gain control, the limit is automatically relaxed: the strength and complexity are reduced, and the blockchain continues to work.

Moreover, the cycle on the crypto market actually cleared the ecosystem: weak projects left the market, the leverage became too high, exchanges and intermediaries went bankrupt, and the base ball was lost. After this, Bitcoin has now turned into a new core - with a wider audience, new infrastructure and deep integration into the financial system. After the collapse of 2011, the rocks ceased to be an experiment for enthusiasts, after the 2014–2015 rocks, they began to form global markets, after 2018, they withdrew the current instruments. institutional pressures, and after the crisis of 2022, the phase of legalization through regulated products and funds is at its peak.

What drives the price of Bitcoin afloat?
The price of Bitcoin depends not only on faith, but also on a number of fundamental factors that have been strengthened by fate. First and basic - the proposition is strictly demarcated. Bitcoin now has a maximum number of coins - 21 million, and most of them are already in production. This limit cannot be expanded by decisions of the regulator or the Special Committee. In addition, most of the coins are becoming inaccessible over time due to the loss of keys and forgotten money, so the real market position is gradually shrinking. BTC itself is differentiated from fiat currencies, gold, silver and oil.
Another official is the hemstone effect, which through fate has become primordial. The more people, companies and institutions that trade or compete for BTC, the harder it is to survive. Bitcoin has long ceased to be an instrument of a narrow circle of shunvalniks: it is present in the balance sheets of large financial structures, integrations in the payment and investment infrastructure, and is considered as a reserve asset and as an element of the portfolio diversification. In such systems, the price is supported not only by the increase, but also by the scale of the increase: BTC has already reached a large number of services and solutions, which will require it to be more complex and costly.

The third factor is institutional capital, which is fundamentally fragmented through fragmented speculation. The launch of spot ETFs in the US open to the Bitcoin channel will be supported by funds, pension structures, financial companies and central banks, who do not react to the collapse in the same way as other traders. For them, BTC is not a short-term tool, but a long-term position within a broader strategy.

The fourth element is the security of the barrier, which is determined by the hashrate (the total computational power of the miners). This means that an attack on the edge will require enormous resources and coordination, making it less efficient. After the ban on mining in China in 2021, if the hashrate dropped immediately after two hours, the measure was adapted and updated over the past month. This showed that Bitcoin is not tied to one country, jurisdiction or infrastructure center.

And nareshti - the behavior of the dovgostok rulers. A significant part of the bitcoins are in the hands of those who bought them much cheaper for the exact same amount and have no motivation to sell under the hour of skin breakdown. For these participants, BTC is not a speculative bet, but a strategic asset.
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