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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Plunges To $58K – Is An 'Extreme Reset' To $40K Possible Before Reversal?

Bitcoin Andrew Kang Crypto United States
Bitcoin is plummeting -- is it headed for a crash to the $40,000s? (Credit: AFP)

KEY POINTS

  • Bitcoin has been down by over 3% in the past week, as per CoinGecko
  • Andrew Kang said it is possible for BTC to plummet to $40,000 before a reversal becomes possible
  • Flow Horse called out the 'overconfidence' among holders 'unwilling' to accept that a lower dip can happen

Bitcoin, the world's largest digital asset by market value that rode to the top of glory in March, has plunged to $58,000, and many smaller holders are concerned about the path the cryptocurrency could take in the coming weeks.

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