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FINANCE 8-MINUTE EXPERT
Crypto is crashing—and experts predict more pain ahead
Stalwart coins like Bitcoin have shed over 40% in recent months.
BY
ANNE SRADERS
January 21, 2022 5:40 PM EST
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For HODLers of crypto, the last couple months have been quite the test of endurance.
The price of Bitcoin and Ethereum, the two top digital assets by market cap, dropped over 40% each since mid-November, according to CoinMarketCap (Bitcoin hit an all-time high of roughly $69,000 in November before sinking to around $36,900 as of January 21 afternoon trading). In recent days, the price of Bitcoin has fluctuated around the $40,000 mark, but on Friday crashed to under $37,000—a level below which “there is not much support until the $30,000 level,” Edward Moya, senior market analyst at Oanda, argued in an early Friday afternoon note.
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