Then you need to know that tomorrow we have the Bitcoin Halving!
What is a Bitcoin block halving event? Block halving events occur every four years or after 210,000 blocks on the Bitcoin blockchain. Initially, Bitcoin's block reward was 50 BTC. Presently, the block reward stands at 6.25 BTC, with the next reward dropping to 3.125 BTC. This reduction slows down the rate of Bitcoin generation. The halving is a programmed, periodic event embedded within Bitcoin's code.
Why was this implemented? Conventional FIAT currencies often experience inflation because governments or banks can increase the money supply. In contrast, Bitcoin has a finite total supply of 21,000,000 BTC, meaning no additional coins can be generated beyond this limit. This fixed supply, coupled with potential shifts in demand as Bitcoin adoption grows, positions it similarly to gold - a resource with a restricted supply that cannot be artificially inflated.
My new price target for Bitcoin after the halving is 52K.