Bitcoin has plummeted by 3% to $50,000 per bitcoin, falling after Jerome Powell, the head of the Federal Reserve, cautioned about a "critical period."

"Discover blockchain gems set to achieve gains of 1,000% or more following the bitcoin halving event!"

In the last month, the value of bitcoin has fallen by roughly 25%, as the total worth of bitcoin, ethereum, XRP, solana, and various other cryptocurrencies is nearing $2 trillion value for the first time since early February, down from nearly $3 trillion in March.

Now, following a well-known tech mogul's prediction that bitcoin might replace the U.S. dollar, the bitcoin exchange Mt. Gox has started to handle what could be a massive lux of bitcoin.