FUD On The Rise On X As Bitcoin Retreats To $62K

There is growing fear, uncertainty, and doubt (FUD) among Bitcoin holders on X (formerly Twitter) as the world's largest cryptocurrency by market cap struggles to reach $65,000 several weeks after the halving.

Bitcoin hit a new all-time high in March, with the digital currency passing $73,000. However, it has since plummeted after the halving event – wherein BTC mining rewards were split in half, effectively reducing the circulation of new Bitcoins.

On Tuesday, BTC prices were at $63,000, but as of early Wednesday, Bitcoin was trading at around $62,000, marking a stark contrast from its glory days ahead of the halving.

Cryptocurrency users on X, some of them BTC holders, expressed frustration over the coin's lows. One user said, "We were promised $100,000," but weeks after the halving, the "price only goes down." Another user said he is "thinking better and staying away from Bitcoin" at this point.

One user noted that Bitcoin's price is only "headed down unless $64k is reclaimed." Another user is expecting the entire crypto market to be down 20% more in the next few months due to whales not seeing any easy growth and "they are slowly selling out." He added that it's easy now for Bitcoin to drop to $45,000.

One user pointed to investors who bought the dip, saying they are now under pressure as Bitcoin is "slowly grinding down." One user, who seems to be a huge critic of the world's first decentralized digital asset, said Bitcoin "is going to $100" since it has "exhausted all the Ponzi scam energy."

Despite the rising uncertainty among crypto and Bitcoin owners, some of the biggest holders have retained their bullish stance on the digital currency, including MicroStrategy founder and executive chairman Michael Saylor, a known BTC maximalist.

"Run with the bulls," he wrote, to which many other Bitcoiners responded with similar comments and hopeful statements. Prominent crypto trader Ash Crypto also retained his projection that Bitcoin will go up to $100,000 and called on holders to maintain "patience."

The now mixed views of Bitcoin came on the heels of Bernstein analysts maintaining a bullish BTC price stance. They said they "feel better" about the price correction the digital coin was going through and still believe that Bitcoin will reach $150,000 at the end of 2025.

As of writing, Bitcoin was trading between $62,100 and $62,300.