Bitcoin Recovers from Brief Drop Below $40,000 | Live Bitcoin News

Bitcoin

the
world’s
number
one
digital
currency
by
market
cap


briefly
fell
below

the
$40,000
mark
for
the
first
time
in
several
months.
At
press
time,
the
asset
has
risen
back
to
about
$41,000
per
unit,
though
the
news

for
some
analysts

suggests
that
the
year
is
going
to
be
rocky
for
the
virtual
coin.

Is
Bitcoin
Feeling
Okay?

Overall,
bitcoin
has
gotten
off
to
a
shaky
start
in
2022.
What
was
supposed
to
be
a
year

according
to
many
industry
experts

in
which
BTC
rose
to
six-figure
status

and
trading
for
at
least

$100,000
has
become
something
of
an
enigma
and
is
thus
far
bearing
heavy
resemblance
to
2018,
which
has
notoriously
gone
down
in
history
as
one
of
the
worst

if
not

the

worst

years
for
crypto.

At
that
time,
bitcoin
had
hit
a
high
of
roughly
$20,000
per
unit.
This
number
struck
in
December
2017
following
more
than
a
year
of
solid
gains
and
price
rises.
For
many,
there
was
no
reason
for
2018
to
be
any
different…
But
it
certainly
was.
The
currency
began
sinking
into
oblivion
as
soon
as
the
year
started,
and
just
after
a
month
or
so,
the
currency
had
lost
more
than
half
its
value.
By
the
summer,
the
asset
had
fallen
to
about
$6,000
and
by
the
end
of
the
year,
bitcoin
had
lost
more
than
70
percent
of
its
value
and
was
trading
in
the
$3,500
range.

The
big
question
on
every
trader’s
mind
is
probably,
“Will
2022
be
reminiscent
of
that
year?”
Thus
far,
it
certainly
looks
like
things
are
taking
that
route.
The
currency
rose
to
a
new
high
of
$68,000
per
unit
in
November
of
2021.
From
there,
the
asset
has
taken
on
bearish
trends
and
has
dropped
by
nearly
$30,000.
It
seems
to
be
that
when
one
year
is
solid
for
bitcoin,
the
following
year
spells
doom.

Things
May
Not
Be
Bad
Just
Yet

At
the
same
time,
it
could
be
that
analysts
who
feel
2022
will
just
be
a
repeat
of
four
years
ago
are
jumping
the
gun
a
bit.
We
are
not
even
two
weeks
into
the
new
year,
which
means
there
are
still
more
than
11
months
to
go
before
we
say
“hello”
to
2023.
That’s
a
long
time,
and
much
can
happen
before
then.
With
so
many
institutions
adopting
bitcoin
over
the
past
year
or
so,
for
example,
we
could
likely
see
this
trend
continue,
which
is
likely
to
save
BTC
from
anything
serious
in
the
long
run.

In
addition,
we
can’t
forget
that
as
good
as
2021
was,
there
were
some
real
low
points
for
BTC
such
as
the
summer
when
the
asset
briefly
fell
below
$30K
following

news
that
China
was

ending
crypto
mining.
The
asset
was
able
to
turn
itself
around
in
a
few
short
months,
so
let’s
not
let
these
last
few
price
swings
sway
us
just
yet.

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