Bitcoin Drops Below $43,000: Experts Call it a Chance to Buy Cheap

Bitcoin Drops Below $43,000: Experts Call it a Chance to Buy Cheap

TradingBitcoin

By Miles

13 Jan 2024 (5 months ago)

1 min read

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Despite the recent launch of ten Bitcoin ETFs, bitcoin dips below $43,000 amid market corrections; experts stay hopeful for its recovery.

Bitcoin's price has fallen below $43,000, influenced by market corrections and decreasing excitement over Bitcoin ETFs.

Bitcoin (BTC) is now priced at $42,902, with a 24-hour trading volume of over $41 billion. It has seen a 5.46% drop in 24 hours and 2.06% in the last week. The global crypto market cap is at $1.76 trillion, down by 5.59% in a day.

Bitcoin's price has been very unpredictable after the U.S. approved its first spot Bitcoin ETFs. It soared to over $49,000 but then quickly fell. It's now around $43,000.

The debut of ten Bitcoin ETFs saw $4.6 billion in trades. Shares in crypto companies, like MicroStrategy and Coinbase Global, have also fallen significantly.

Experts remain optimistic about Bitcoin's future despite the recent price drop. They see these decreases as chances to buy at lower prices, with predictions of Bitcoin reaching $200,000.

While Bitcoin struggles, some altcoins like Ethereum have seen smaller losses. Others, like SOL and ADA, have dropped more significantly. The global crypto market cap has also decreased by $80 billion in one day.

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