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PRICE OF BITCOIN PLUNGES TOWARDS $20,000 AS THE CRYPTO MARKET CONTINUES TO MELTDOWN

The sell-off in the crypto market continued to deepen even further as lots of cryptocurrencies saw lower prices with Bitcoin sinking very close to the key level of $20,000. The world’s largest digital currency has gone down by nearly 70% since the peak of the crypto craze in November 2021 when it made its all-time high.

Founder of digital asset management firm ByteTree, Charlie Morris has said the $20k level might prove to be an important support level as it is close to the peak of Bitcoin’s last major bull run which happened in 2017.

Digital tokens are also experiencing a free fall as fears of climbing inflation, aggressive rise in the interest rate and liquidity issues which are key players in the crypto space have continued to plague the crypto markets.

Executive vice president of Canadian crypto firm SDM, Mostafa Al-Mashita has said that the recent happenings are the impact of a worsening macroeconomic trend which has caused inflation to rise due to supply-chain issues.

Our Crypto Analyst and Coach Mr. Williams covered in detail the current crypto crash about a month ago. He warned that the market was ticking into a much wider bearish market as bearish sentiments continued to grow among investors and traders..

WATCH HERE

Featured image source: GOBankingRates.

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