Bitcoin hit $ 50,000 on the back of the halving, which is a new record for the price of BTC.The price of bitcoin reached $ 50,000 on the back of the halving, which is a new record for the price of BTC.Historically, the last time the price of BTC fell below $ 10,000 was during the halving, which reduced the supply of new BTC available for each block by 50%.This led to miners selling off their assets, causing the price of bitcoin to plummet.After the halving, the amount of BTC available for each block decreased to $ 38,333, and at the time of writing this article, this number is $ 44,563.The impact of the halving was immediate. BTC dropped to $ 51,000 shortly after the number of new BTC addresses reached a new all-time high of 2,423. The influx of bitcoin to exchanges again surpassed 60,000 addresses, which is a new all-time high for BTC.The influx of bitcoin to exchanges is a new record, and some analysts even believe that this may be due to the fact that people are looking to store their wealth in bitcoin as a store of value.The second-largest cryptocurrency by market capitalization reaches $52,000After hitting the $53,000 mark, bitcoin quickly recovered and reached $52,000 again on February 8, but the rally did not continue. This may be due to the fact that people have lost confidence in the strength of the bitcoin market, and the perception of it as a safe haven.As Cointelegraph reported , the decline in confidence may be due to the fact that large investors have already sold their assets in the second round of bullish growth, and there is little incentive for traders to add more.In addition, according to CoinMetrics, the decline in trading volume in recent days may be a consequence of whales placing bitcoins on exchanges.In the crypto community, some investors have expressed concerns about bitcoin's decline since the $50,000 level.CryptoQuant CEO Ki Yang Ju expressed his opinion on BTC's performance in the second quarter, and also questioned the sustainability of bitcoin's bullish growth. Ju said that BTC may have reached a psychological peak due to the influx of institutional money.According to Ju, the stock market and BTC are both in "trunk" and can be considered "fixed." As for bitcoin, Ju said that the asset can continue to grow in the long run, adding that it is "time to buy."Given the influx of institutional money, BTC can maintain its growth until the end of the year, or until there is a "big enough pullback".In February, Ju indicated that bitcoin can grow to $ 500,000 if certain conditions are met. For example, Ju said that a bitcoin breakout would be "perfect" if the price reached $ 50