Bitcoin's price fell by 8.6% to $31,570 compared to its new all-time high of more than $34,520 hit on January 3. Cryptocurrency had plunged into the breach of the closure of traditional financial markets. How high can Bitcoin go? According to the American financial company, it could reach 400,000 dollars. While in the past it has experienced historic spikes, such as in 2017, and it continues to be extremely volatile, Bitcoin maintained its gains last year where it jumped by almost 300%

Like other risky assets, cryptocurrency has taken full advantage of the abundant liquidity provided to the markets by central banks, and the low interest rates that have prompted investors, institutional as well as individuals, to seek returns from alternative investments.