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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]

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.

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]
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