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Bitcoin’s price is now half of what it was at the end of 2017, stoking bubble fears

Plenty of experts have warned recently of a cryptocurrency bubble—including financier extraordinaire Warren Buffet himself—and they may be proven right sooner rather than later. Bitcoin’s value dipped to below $10,000 today for the first time since December, and it’s continuing to drop. At last check, the digital currency was around $9,635. A month ago, bitcoin was … Continue reading “Bitcoin’s price is now half of what it was at the end of 2017, stoking bubble fears”

Bitcoin’s price is now half of what it was at the end of 2017, stoking bubble fears
[Photo: Flickr user fdecomite]
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Plenty of experts have warned recently of a cryptocurrency bubble—including financier extraordinaire Warren Buffet himself—and they may be proven right sooner rather than later. Bitcoin’s value dipped to below $10,000 today for the first time since December, and it’s continuing to drop. At last check, the digital currency was around $9,635. A month ago, bitcoin was worth about twice that amount.

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As we wrote yesterday, fears of a crypto crackdown in South Korea are driving down the price of a number of currencies—including ethereum and litecoin, in addition to bitcoin. The latter still has its believers, however: Earlier this week, Kay Van-Petersen, the Saxo Bank analyst who predicted bitcoin’s meteoric rise, said the currency could reach $100,000 this year. So we can still hope for a comeback.

[Screenshot via Coindesk]

About the author

Christopher Zara is a senior staff news editor for Fast Company and obsessed with media, technology, business, culture, and theater. Before coming to FastCo News, he was a deputy editor at International Business Times, a theater critic for Newsweek, and managing editor of Show Business magazine

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