Bitcoin, in particular, went from a high of $60,506 down to a low of $49,500. The king coin’s price momentarily dropped below $50,000, hitting a low not seen since February. In the past seven days, its value has dropped by over $13,000. At press time, BTC was trading at $54,333 with an 8.46% decrease over 24 hours.

the market was expecting a bounce back, some investors were concerned that Bitcoin would fall further lower. Richard Heart, the creator of HEX, stated that Bitcoin is going to see significant corrections and will drop to $11,000 in the upcoming collapses. He pointed out that Bitcoin often descends 85% from its peak. Speaking to Kitco News, David Lin said,

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