Bitcoin’s recent decline may not be over yet, as cryptocurrency trader and NGX4 founder Peter Iyen warns that the asset could face even steeper losses due to the absence of real-world adoption. Despite years of optimism and regulatory progress, Iyen argues that Bitcoin has yet to prove its fundamental value, raising concerns about its long-term sustainability.
Speaking in an interview with ARISE News on Wednesday, Iyen attributed Bitcoin’s sharp drop from its October 2025 peak of $124,000 to weakening investor confidence and the absence of expected momentum.
According to him, “Since October of last year, the decline that we’ve seen has been because the momentum that is expected, the fundamental momentum that has been expected in Bitcoin has not been there.”
He explained that earlier optimism was driven by expectations of stronger institutional backing and potential recognition of Bitcoin as a reserve asset, particularly following political signals from the United States.
“After the initial announcement by Donald Trump and the few moves by state governors… nothing happened. There was no more news to push it higher,” he said.
Iyen noted that while the introduction of Bitcoin exchange-traded funds (ETFs) helped boost credibility and drove prices upward, they have also contributed to increased volatility as investors begin to question the asset’s real-world value.
“So it’s creating volatility… the people that bought into these ETFs… are beginning to have doubts,” he stated.
He further argued that Bitcoin’s core challenge remains its unclear identity, as it has yet to function effectively as either a currency or a store of value.
“The question is, to the everyday user, what is the use for him apart from buying it to sell it to the next person?” he asked.
Looking ahead, Iyen maintained that the future of Bitcoin hinges on widespread adoption, which he believes is unlikely in the near term.
“I don’t see my family members… or anybody I know wanting to use Bitcoin in their daily transactions,” he said.
“I think the 47% drop we’ve seen is just the beginning.”
He added that while speculation has driven Bitcoin’s growth over the years, the market is now entering a phase where real usage must justify its valuation. Without that shift, he warned, further price declines could be inevitable.
Triumph Ojo
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