Bitcoin could plunge even further to a low of $13,000, one strategist warns
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Bitcoin rose to a record high of nearly $69,000 at the height of the 2021 crypto frenzy. Ian Harnett, co-founder and chief investment officer of Absolute Strategy Research, says past crypto rallies show bitcoin tends to fall roughly 80% from all-time highs. In 2018, for instance, the cryptocurrency plummeted close to $3,000 after hitting a peak of $20,000 in late 2017. In 2022, a drop in 2022 "would take you back to about $13,000," a "key support area" for the token, he says. The crypto world is on edge as investors grapple with the impact of higher interest rates on assets. Source