Bitcoin has faced challenges before. It dropped below $26,000, a three-month low, when the U.S. Securities and Exchange Commission sued Binance and its CEO, Changpeng Zhao. The SEC accused Binance of evading U.S. securities laws by creating separate entities and alleged artificial trading volume growth.

Cryptocurrency experts suggested if $BTC stays around $30,000, it could bounce back. As of Feb. 21st, 2024, it's at $51,400. In April 2023, Bitcoin hit $30,000, dipped to $26,000, and now is at $51,400. Experts hope it stays at this level and reaches $60,000 by the end of 2024.

Despite a 27.24% drop from its all-time high, Bitcoin is recovering due to factors like the U.S. banking crisis, a weaker dollar, and lower inflation. The recent U.S. financial crisis has increased interest in cryptocurrencies.