Bitcoin survived the largest decline in the last 10 months

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On January 21, Bitcoin survived the largest recession since the collapse of the market in March 2020.

The decline in the BTC course was 13% erased a significant part of the growth for the current year, reducing this indicator to 6%. During the collapse, the price asked below $ 29 thousand for the first time from January 5. At the time of publication, the leading cryptocurrency is traded at $ 30.8 thousand.

According to parts of analysts, yesterday, the decline indicates that Bitcoin may have achieved its short-term price peak and switched to the stagnation phase. They do not exclude a coup rollback right up to support levels in the range of $ 20-24 thousand.

The recent reminders of representatives of large financial companies on cyclicity and volatility of a digital asset also could encourage investors to fix profits. Since many use Bitcoin as a portfolio diversification tool, the sale to minimize the risk can be quite justified.

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