Adam Back, an early contact of Bitcoin founder Satoshi Nakamoto and a member of the original Cypherpunk movement, analyzes the recent sharp decline in Bitcoin's value, which has lost approximately half its worth. He attributes the crash to influences from institutional investors, leveraged trading, and Bitcoin's four-year cycle. Despite the current market downturn, Back maintains a long-term optimistic outlook for Bitcoin's future. He critically observes the evolution of Bitcoin from its Cypherpunk origins to a mainstream industry, emphasizing the ongoing importance of its security and development. The article also touches upon the involvement of figures like Donald Trump and questionable crypto projects, raising concerns about the industry's legitimacy, while noting Wall Street's role as a protective shield for the cryptocurrency.