BTC valuation chart

Today, bitcoin holders are having a bad day as the iconic cryptocurrency slid nearly 5%. Bloomberg reports that the fall we have seen in the last 24 hours has brought Bitcoin (BTC) to its lowest level since July 2021. Furthermore, it reckons the downtrend will continue towards a crucial $30,000 make-or-break level, and cryptocurrency valuations generally show a “strong correlation with stocks.”

Most would agree it is fair to characterize cryptocurrencies as volatile. Investing in these currency tokens secured by the blockchain has been a source of delight for those who got in early. However, the ups and downs in the last year or two have required a strong stomach.

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