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

CNBC Finance LogoCNBC Finance1w ago

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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Article Details

Author / Journalist: https://www.facebook.com/CNBC

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)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

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

News Timezone: GMT -5:00

News Source URL: cnbc.com

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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About CNBC Finance

CNBC Finance Logo

Main Topics: MarketsFinanceInvesting

Official Website: cnbc.com

Update Frequency: 3 posts per day

Year Established: 2005

Headquarters: United States

Last Updated: 9h ago

Coverage Areas: United States

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