Bitcoin, the world's largest crypto managed to climb back out for a breather from a 12-day slide that has eroded up to 70% value from its November high. The digital token surge 16% in the last 24 hours to hold back onto the crucial $20,000 mark, but even then is down 50% in value in just this year.
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Digital assets have been selling off all year along with other risky holdings as global central banks have shifted to hiking interest rates to quell soaring inflation.
It is not just Bitcoin taking a beating, an index of 100 of the largest crypto coins was down more than 60% this year. The second most popular coin Ether is down 70% this year.