The price of bitcoin falls 8.6% to $31,570 from its new all-time high of more than $34,520 hit on January 3. Cryptocurrency had rushed into the breach of the closure of traditional financial markets. How far can Bitcoin go? According to the U.S. financial company, it could reach $400,000. If in the past, it has experienced historic surges, as in 2017, and it continues to be extremely volatile, Bitcoin has retained its gains last year where it jumped by almost 300%.

Like other risk assets, cryptocurrency has taken full advantage of the abundant liquidity provided to the markets by central banks, from the low interest rates that have encouraged investors, both institutional and individual, to seek return from alternative investments.