"It's true that the price of BTC is not very affected, but when will it level off?"
Investors have suffered as the cryptocurrency market has recently witnessed various challenges resulting in increasingly volatile digital asset price movements.
Among the obstacles is when the giant crypto exchange Binance was sued by the Securities and Exchange Commission (SEC) of the United States (US) with thirteen charges while Coinbase was accused of operating as an unlicensed broker.
The crypto market was also affected after the SEC filed court documents to freeze Binance US assets, but the question is how will the price of Bitcoin (BTC) remain resilient despite the threat?
This is because the supply limit which is always set at 21 million has been one of the reasons why BTC has attracted the attention of many investors as it resembles a digital store of value.
Additionally, BTC is also able to strengthen as more people use or hold the digital asset, with the number of users and holders increasing significantly over the past week even as the crypto market is challenged by fraudsters or lawsuits.
In fact, by April 2024, BTC, which is about to undergo a halving event, means that the digital asset will be increasingly favored by those seeking protection when inflation reaches alarming levels.
As of this writing, BTC price has plunged by 2.49% to $28,446 in the last 24 hours with a market capitalization of $512 billion and has slipped 2.54% over the past week.
