Bitcoin sinks below $20k mark.

Bitcoin’s price has seen a nearly 70% drop in value since its all-time high above $68,000 on Nov. 10. The crypto market has been increasingly tracking the stock market lately, which makes it even more intertwined with macroeconomic factors, experts say. Ethereum has followed a similar pattern of volatility.

“And it could get uglier if bitcoin’s price falls below $20,000,” according to Edward Moya, a senior market analyst at foreign-exchange brokerage Oanda.

“If bitcoin breaks below the $20,000 level, support might not emerge until the $17,000 level,” Moya says. “Another crypto plunge might not see major support until the 2019 summer high around the $14,000 level.”

Bitcoin hasn’t been above $50,000 since Dec. 25, 2021. Despite the ups and downs, set back by surging inflation, lagging recovery in the job market, and the Fed’s ongoing signals that it would begin winding down pandemic measures to support the economy.

Bitcoin’s price has been between $20,000 and $30,000 so far this week

Some advice for investors out there “You have a high chance of losing it all, but a small chance of winning it big,” says Nate Nieri, a CFP with Modern Money Management in San Diego, California. “Don’t gamble an amount that would burden your family or prevent you from achieving your goals” if you lost it all, he says.

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