Bitcoin could plunge even further to a low of $13,000, one strategist warns

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Bitcoin could plunge even further to a low of $13,000, one strategist warns

Quick Summary

Ian Harnett, co-founder of Absolute Strategy Research, said past crypto rallies show bitcoin tends to fall roughly 80% from all-time highs.

Bitcoin was trading at a price of $21,393 Tuesday, up 6% in the last 24 hours but still down more than 50% year-to-date.

Bitcoin rallied to a record high of nearly $69,000 at the height of the 2021 crypto frenzy.

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Author / Journalist:

Category: MarketsFinanceInvesting

Topics: Cryptocurrency Internet Markets FinTech Cnbc Bitcoin/USD Coin Metrics Articles Crypto Finance Bitcoin Source:tagname:CNBC Europe Source Ethereum/USD Coin Metrics Technology

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 05:44:48

News Timezone: GMT -5:00

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Language: English

Reading Time: 3 minutes read

Article Length: 507 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 2925

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