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2021-01-22 18:20:53
Jacob Fisher

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2021-01-22 18:20:53

Bitcoin Breaks Below $29K erasing yearly gains in less than 8 hours

Bitcoin dropped below 29.000$, pushing week's losses briefly over 18% amid profit-taking push.

Bitcoin dropped below 29.000$, pushing week's losses briefly over 18% amid profit-taking push.

Bitcoin dropped below 29.000$, pushing week's losses briefly over 18% amid profit-taking push.

Per BullsInvest's prior report, the recent drop in BTC value is likely due to profit-taker investors in U.S and Europe.

Bitcoin dropped below $28.900 on Coinbase at 0.30 UTC of Thursday. That level was reached back on 4th of January 2020 when the leading cryptocurrency rallied to its new ATH of almost $42000 on Jan.8.

Bitcoin maybe have topped temporarily and that pullback to 20.000$ is highly possible, said yesterday Guggenheim's CIO Scott Minerd, who said that BTC should worth over 400.000$.

The current year-to-date gains are below 1% due to continued selling push.

According to Mike McGlone (Bloomberg analyst) Bitcoin appears in similar to May and June of 2017 price rang

ed from $3000 to $2000 before skyrocking higher".