Bitcoin Finds Relief From a Past Record High in 2017
Bitcoin and the Byecoin app are advertised in the window of a store in Antwerp, Belgium, on Monday, June 6, 2022. Bitcoin has been trading around the $30,000 level for weeks now, defying predictions of a potential further decline but also struggling to gain upward momentum as the broader US market has also taken a beating. Photographer: Valeria Mongelli/Bloomberg
, Bloomberg
Joanna Ossinger, Bloomberg News
(Bloomberg) -- Bitcoin may be finding some support at the 2017 peak of $19,511 that, at the time, was a record high for the largest cryptocurrency. The token has wavered since mid-August, dropping below the closely-watched $20,000 level, but has averted a drop below the 2017 high over the period. Traders are watching technical levels to see if Bitcoin has found a floor after a 57% plunge in 2022.
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