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Bangkok Post
Bangkok Post
Business

Bitcoin recovers as the wealthy swoop in

Bitcoin
A representation of Bitcoin is seen in this illustration. (Photo: Reuters)

Bitcoin rebounded above the US$20,000 mark yesterday as wealthy investors scooped in to purchase cheap coins, believing they have long-term growth potential and the current market volatility is merely caused by temporary "panic sales".

Bitcoin plunged to $17,708 on Sunday, the lowest since December 2020, while Ethereum dropped to a two-year low of $880 before recovering to $1,000 mark yesterday.

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