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Bitcoin Price Falls
by 55%
Bitcoin fell below $30,000 late Monday, breaching a symbolic price level before recovering slightly early Tuesday.
The world’s most
popular
cryptocurrency
fell by more than
12% in a single day.
Red Section Separator
It was down more than 56% from its all-time high in November of around $69,000.
According to
Coin Metrics data:
It later recovered and was trading at $31,836.24 at 3:45 a.m. ET on Tuesday.
The last time bitcoin fell below $30,000 was in
July 2021, when it fell as low as $29,839.80.
The drop is most likely due to concern about the Federal Reserve’s determination to combat inflation.
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