Bitcoin falls to €57,000: end of the dream or new floor?
Bitcoin drops to €57,116 after losing €70,800. The debate over its intrinsic value intensifies as Bukele accumulates and retail investors hesitate.
English · Original discussion in Spanish · Published
Bitcoin falls to €57,000: the perfect storm between digital gold and the casino
When Bitcoin's price surpassed €70,000, headlines worldwide spoke of a new era. Weeks later, the king of cryptocurrencies is trading at €57,116, an 18% plunge that has once again pitted its faithful against skeptics. The question dividing the market: temporary correction or beginning of the end?
From €70,800 to €57,000: the collapse in three acts
The thread begins with a message that sounds like a declaration of war: "Tremendous: it is happening: bitcoin at 70.8". Shortly after, the price was already moving at €59,000. Within days, €70,000 was left behind and the price broke through supports to stand at €56,866. The discussion data puts the final price at €57,116.79 (according to Bitcoin.de). The fall from all-time highs—$109,000 in January 2025—exceeds 47% in six months.
The debate that never closes: intrinsic value or faith?
The conversation pivots on two poles. Those who deny any value to Bitcoin recall that "a thing that has an intrinsic value of zero and on top of that costs energy to produce". Against them, defenders of digital gold counter with the same logic applied to the precious metal: "What intrinsic value does gold have? It has been a standard of wealth for millennia only because it is scarce, doesn't oxidize, and shines". The argument extends to the nature of fiat money: in the end, all value is fiat, even that of the euro or gold bullion.
The big fish don't leave: Bukele and MicroStrategy
While retail investors hesitate, major players step on the gas. El Salvador, under President Nayib Bukele, made a purchase of 1,096 bitcoins—about $100 million—and its reserves are estimated at 8,000 BTC. On the corporate front, MicroStrategy (MSTR) has become the largest corporate holder, but movements by "big US banks" that could go against the company are mentioned. Financial derivatives have grown: the futures and ETF market sets the price more than actual supply, adding volatility.
The ghost of Ponzi: who enters now?
"Like any Ponzi scheme, it always needs new players," warns one of the most critical voices. The doubt is whether there are enough suckers left to sustain the upward spiral. Those who entered at $30 sold years ago; those who bought at €100,000 in 2025 are underwater. And the rallying cry of maximalists—"Hold, hold, hold"—resounds as the price bleeds. As one participant jokes: "I don't think they'll see 70.8 again".
Bitcoin has become a test of faith. The data says it has lost half its value in six months. The convinced respond that it has resurrected other times. The story of digital gold is, above all, the story of a promise that remains unfulfilled.
Related debates in the forum
When Bitcoin's price surpassed €70,000, headlines worldwide spoke of a new era. Weeks later, the king of cryptocurrencies is trading at €57,116, an 18% plunge that has once again pitted its faithful against skeptics. The question dividing the market: temporary correction or beginning of the end?
From €70,800 to €57,000: the collapse in three acts
The thread begins with a message that sounds like a declaration of war: "Tremendous: it is happening: bitcoin at 70.8". Shortly after, the price was already moving at €59,000. Within days, €70,000 was left behind and the price broke through supports to stand at €56,866. The discussion data puts the final price at €57,116.79 (according to Bitcoin.de). The fall from all-time highs—$109,000 in January 2025—exceeds 47% in six months.
The debate that never closes: intrinsic value or faith?
The conversation pivots on two poles. Those who deny any value to Bitcoin recall that "a thing that has an intrinsic value of zero and on top of that costs energy to produce". Against them, defenders of digital gold counter with the same logic applied to the precious metal: "What intrinsic value does gold have? It has been a standard of wealth for millennia only because it is scarce, doesn't oxidize, and shines". The argument extends to the nature of fiat money: in the end, all value is fiat, even that of the euro or gold bullion.
The big fish don't leave: Bukele and MicroStrategy
While retail investors hesitate, major players step on the gas. El Salvador, under President Nayib Bukele, made a purchase of 1,096 bitcoins—about $100 million—and its reserves are estimated at 8,000 BTC. On the corporate front, MicroStrategy (MSTR) has become the largest corporate holder, but movements by "big US banks" that could go against the company are mentioned. Financial derivatives have grown: the futures and ETF market sets the price more than actual supply, adding volatility.
The ghost of Ponzi: who enters now?
"Like any Ponzi scheme, it always needs new players," warns one of the most critical voices. The doubt is whether there are enough suckers left to sustain the upward spiral. Those who entered at $30 sold years ago; those who bought at €100,000 in 2025 are underwater. And the rallying cry of maximalists—"Hold, hold, hold"—resounds as the price bleeds. As one participant jokes: "I don't think they'll see 70.8 again".
Bitcoin has become a test of faith. The data says it has lost half its value in six months. The convinced respond that it has resurrected other times. The story of digital gold is, above all, the story of a promise that remains unfulfilled.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (562 replies).
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