The main impact of the price decline is slowing Strategy's ability to buy more bitcoin without diluting shareholders, as its stock now trades at a discount to its bitcoin holdings.

“Our worst-case scenario assumes a decline to the $1.8 trillion to $2 trillion range, with an extension to 161.8% of the initial downward momentum in October-November,” Alex Kuptsikevich, FxPro chief market analyst, said in emailed comments.

Bitcoin (BTC) and other cryptocurrencies has begun sliding and crashing in chunks. By Jan. 30, Bitcoin was trading at $81,847.15. This is a 21% slide in a year. As Bitcoin sentiment continues to decline, analysts are predicting bear market conditions to last longer and with lower price targets.

The strongest bulls take the time to learn the opposite point of view.

Long-term bitcoin holders are selling at the fastest pace since August, while some industry observers suggest the market may be approaching a bear-market bottom.

Marginally good news and big bitcoin purchases have yet to move the cryptocurrency in a meaningfully positive direction.

The crypto market's recent decline only accelerated Saturday, with Bitcoin falling to nearly $77,000 as liquidations piled up.

The decentralized nature of bitcoin may prove appealing in a world of declining U.S. dollar dominance and a changing global trade order.

El Salvador bought dips in both Bitcoin (CRYPTO: BTC) and gold on Thursday, doubling down on its unique strategy of building reserves in both assets simultaneously. El Salvador Stacks Up Yellow Metal El Salvador’s Central Reserve Bank said it purchased 9,